New User / Register || Book Marks || Annual Subscription || Feed Back ||
Login: Stay
|| Forget Password ||
     
TMI - Tax Management India. Com  

Recent Discussionss:

CENVAT FOR SEIZED PLANT reconcile er1 returns with trial balance/balancesheet Canteen Service Provider Payment of Foreign consultancy Service s whether cst to be charged on purchase returns Applicability of Notificaton 218/86 S TAX DEDUCTION Second hand equipment with EPCG Licence IS SALES TAX / VAT APPLICABLE FOR TRANSPORTERS. Clearance of goods to 100% EOU Unit in SEZ under ARE3 -Reg.
 
Discussions Forum
Home Forum Income Tax Month 12 2010 2010 (12) This
← Previous Next →
 

Claiming deduction u/s 80IC - Income Tax

 
Issue Id: - 2578
Dated: -31-12-2010
By:- Toshar Ahuja
Claiming deduction u/s 80IC

A firm availing claiming 100% deduction 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% 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?

Post Reply
 
Previous Posts


Dated: - 22-06-2011
By: - Surender Gupta

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 sunset clause of 1.4.2007


 
 
Previous Next

 

what is new what is new

UpdatesKnowledge SharingSubscription CommunicationNewslettersMore Options




Go to Mobile Website Go To Top
© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.