TaxTMI 
TaxTMI 
TaxTMI 
Prescribed area, minimum seating capacity, facilities and amenities for convention centres; minimum number of convention halls in the convention centres; and particulars of audit report, for deduction under section 80-ID.
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....rescribed area, minimum seating capacity, facilities and amenities for convention centres; minimum number of convention halls in the convention centres; and particulars of audit report, for deduction ....
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....under section 80-ID. <br>Income Tax<br>Dated:- 30-11-2007<br><BR>Prescribed area, minimum seating capacity, facilities and amenities for convention centres; minimum number of convention halls in the c....
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....onvention centres; and particulars of audit report, for deduction under section 80-ID. " The Finance Act, 2007 inserted a new section 80-ID in the Income-tax Act, 1961 to provide for a 100% deduction....
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.... of the profits and gains derived by an undertaking from the business of operating a hotel or from the business of building, owning and operating a convention centre subject to the conditions prescrib....
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....ed therein. Clause (iv) of sub-section (3) of section 80-ID of the said Act lays down that the assessee shall furnish a report of audit in the prescribed form, and duly signed by an accountant, certi....
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....fying that the deduction has been correctly claimed, Clause (a) of sub-section (6) of section 80-ID of the said Act defines a 'convention centre' as a building of prescribed area and having su....
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....ch other facilities as may be prescribed. Accordingly, a new rule 18DE and a new form 10CCBBA have been inserted in the Income-tax Rules for this purpose.<BR> News - Press release - PIB....