https://www.taxtmi.com/acts?id=48218 The amendment sets distinct qualifying commencement periods for general industrial undertakings and for undertakings in industrially backward States or those engaged in power generation and cold storage, and allows governmental extension by notification. It substitutes the deduction scheme so that general undertakings receive a reduced proportion of profits as deduction, while backward area and power/cold storage undertakings receive full exemption for initial assessment years and a reduced proportion thereafter, with a higher substituted rate when the assessee is a company. en-us Wed, 29 Jan 2025 12:13:31 +0530 Wed, 29 Jan 2025 12:13:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=48218 The amendment sets distinct qualifying commencement periods for general industrial undertakings and for undertakings in industrially backward States or those engaged in power generation and cold storage, and allows governmental extension by notification. It substitutes the deduction scheme so that general undertakings receive a reduced proportion of profits as deduction, while backward area and power/cold storage undertakings receive full exemption for initial assessment years and a reduced proportion thereafter, with a higher substituted rate when the assessee is a company. Act-Rules F. Acts / Amendment Acts Wed, 29 Jan 2025 12:13:31 +0530 https://www.taxtmi.com/acts?id=48218