Investment Allowance in Notified Backward Area - Section 32AD [ Upto 31.03.2026 ]

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....f any article or thing in the notified backward areas in Andhra Pradesh, Bihar, Telangana or West Bengal on or after 1^st April 2015, it shall be eligible to claim additional deduction under section 32AD if it fulfills the conditions specified in the said section 32AD. Conditions for claiming deduction under section 32AD • This deduction shall be available over and a....

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....oftware. • e. Any vehicle • f. Any plant or machinery, the whole of the actual cost of which is allowed as deduction (whether by way of depreciation or otherwise) in computing the income chargeable under the head "Profits and gains of business or profession" of any previous year. • The new asset should be acquired and installed after March 31, 2015 but before....

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.... be taxable under the head " Profits and gains of business or  profession ''Such deemed income shall be taxable in addition to taxability of capital gain which arises under section 45, read with section 50. Above restriction not to apply in case of Amalgamation /Demerger/Buisness Re- Organisation The above restriction will not apply in a case of amalgamation or demerger or business re-o....