TaxTMI 
TaxTMI 
Deduction in respect of profits and gains from business of hotels and convention centres in specified area
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....ins derived by an undertaking from any business referred to in sub-section (2) (such business being hereinafter referred to as the eligible business), there shall, in accordance with and subject to the provisions of this section, be allowed, in computing the total income of the assessee, a deduction of an amount equal to hundred per cent of the profits and gains derived from such business for five....
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....ted and has started or starts functioning at any time during the period beginning on the 1st day of April, 2008 and ending on the 31st day of March, 2013.] (3) The deduction under sub-section (1) shall be available only if- (i) the eligible business is not formed by the splitting up, or the reconstruction, of a business already in existence; (ii) the eligible business is not....
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....claimed. (4) Notwithstanding anything contained in any other provision of this Act, in computing the total income of the assessee, no deduction shall be allowed under any other section contained in Chapter VIA or section 10AA, in relation to the profits and gains of the undertaking. (5) The provisions contained in sub-section (5) and sub-sections (8) to (11) of section 80-IA shall, s....
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....erating on a commercial basis; (d) "specified area" means the National Capital Territory of Delhi and the districts of Faridabad, Gurgaon, Gautam Budh Nagar and Ghaziabad.] 2[(e) "specified district having a World Heritage Site" means districts, specified in column (2) of the Table below, of the States, specified in the corresponding entry in column (3) of the said Table: Table S.No. Name o....