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Section 32AD - Investment in new plant or machinery in notified backward areas in certain States - Income-tax Act, 1961

Extract

..... the said undertaking or enterprise during the period beginning on the 1st day of April, 2015 and ending before the 1st day of April, 2020 in the said backward area, then, there shall be allowed a deduction of a sum equal to fifteen per cent. of the actual cost of such new asset for the assessment year relevant to the previous year in which such new asset is installed. (2) If any new asset acquired and installed by the assessee is sold or otherwise transferred, except in connection with the amalg .....

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Section 32AD - Investment in new plant or machinery in notified backward areas in certain States - Income-tax Act, 1961

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..... ause (xiiib) or clause (xiv) of section 47, as the case may be, as they would have applied to the amalgamating company or the demerged company or the predecessor referred to in clause (xiii) or clause (xiiib) or clause (xiv) of section 47. (4) For the purposes of this section, “new asset” means any new plant or machinery (other than a ship or aircraft) but does not include- (a) any plant or machinery, which before its installation by the assessee, was used either within or outside In .....

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Section 32AD - Investment in new plant or machinery in notified backward areas in certain States - Income-tax Act, 1961

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  1. Section 47 - Transactions not regarded as transfer
  2. Section 44D - Special provisions for computing income by way of royalties, etc., in the case of foreign companies
  3. Section 44C - Deduction of head office expenditure in the case of non-residents
  4. Section 44BBB - Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects
  5. Section 44BBA - Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents
  6. Section 44BB - Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils
  7. Section 44B - Special provision for computing profits and gains of shipping business in the case of non-residents
  8. Section 44AF - Special provisions for computing profits and gains of retail business
  9. Section 44AE - Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages
  10. Section 44ADA - Special provision for computing profits and gains of profession on presumptive basis.
  11. Section 44AD - Special provision for computing profits and gains of business on presumptive basis.
  12. Section 44 - Insurance business
  13. Section 43 - Definitions of certain terms relevant to income from profits and gains of business or profession
  14. Section 40 - Amounts not deductible
  15. Section 37 - General
  16. Section 29 - Income from profits and gains of business or profession, how computed
  17. Section 115VL - General exclusion of deduction and set off, etc.
  18. Section 115VA - Computation of profits and gains from the business of operating qualifying ships
  19. Section 115BAD - Tax on income of certain resident cooperative societies
  20. Section 115BAC - Tax on income of individuals and Hindu undivided family
  21. Section 115BA - Tax on income of certain manufacturing domestic companies
  22. Section 115AD - Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer
  23. Section 115AC - Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer
  24. Section 115AB - Tax on income from units purchased in foreign currency or capital gains arising from their transfer
  25. Section 115A - Tax on dividends, royalty and technical service fees in the case of foreign companies
  26. SCHEDULE 01 - INSURANCE BUSINESS
  27. Manual - Section 37(1) - General clause of Deductions
  28. Manual - Section 32AD - Investment Allowance in Notified Backward Area

 

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