Claiming deduction u/s 80IC

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....laiming deduction u/s 80IC<br> Query (Issue) Started By: - Toshar Ahuja Dated:- 31-12-2010 Last Reply Date:- 22-6-2011 Income Tax<br>Got 1 Reply<br>Income Tax<br>A firm availing claiming 100% deductio....

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....n u/s 80IC is taken over by a Company on 1/4/2011 (fulfilling conditions of Sec 47(xiii) of Income Tax Act, 1961) on which date 5 years of 100% deduction also expire. Will it get 25% deduction or 30% ....

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....deduction for next five years? and if the assessee starts Unit II before 01/04/2012, then will it get 100% deduction for first five years and then 30% deduction for next five years? Reply By Surender....

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.... Gupta: The Reply: Such type of deduction is allowed in case of amalgamation or demerger only. There is no similar provision in case of firm. Moreover in case of amalgamation or demerger there is a s....

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....unset clause of 1.4.2007<br> Discussion Forum - Knowledge Sharing ....