Deduction in respect of employment of new employees - Section 80JJAA

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....nt in all sectors. 1. Eligible Assessee Where the gross total income of an assessee to whom section 44AB applies, includes any profits and gains derived from business 2. Quantum of Deduction * 30% of the additional employee cost incurred * "Additional employee cost" means: i. In case of a new business - emoluments paid or payable to employees employed during that previous year shal....

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...." An employee who has been employed during the previous year and whose employment has the effect of increasing the total number of employees employed by the employer as on the last day of the preceding year and does not include: * employee whose total emoluments are more than 25,000/- per month * employee on whom Employee Pension Scheme is applicable * employee who does not participate in t....