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Section 32AD - Investment Allowance in Notified Backward Area

Income Tax - Profit and Gains of Business or Profession - 14 - SEC - 32AD: INVESTMENT ALLOWANCE IN NOTIFIED BACKWARD AREA (APPLICABLE FROM AY 2016-17) This deduction will be over and above the existing deduction available under section 32AC. If an un .....

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if it fulfills the conditions specified in the said section 32AC and 32AD. CONDITIONS FOR CLAIMING DEDUCTION UNDER SECTION 32AD The assessee may be a company or any other person Undertaking/ enterprise for manufacture or production of any article or .....

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by the assessee was used either within or outside India by any other person. c. Any plant or machinery installed in any office premises or any residential accommodation, including accommodation in the nature of a guest house. d. Any office appliance .....

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ts and gains of business or profession of any previous year. The new asset should be acquired and installed after March 31, 2015 but before April 1, 2020. Both acquisition and installation of the new asset are required to be made after March 31, 2015 .....

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TMENT ALLOWANCE The new asset should not be sold or otherwise within a period of 5 years from the date of its installation. If the new assets is sold or transferred within 5 years from its installation ,the amount of investment allowance allowed to t .....

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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 am .....

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