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Amendment of section 32AC.

Clause 14 - Bills - DIRECT TAXES - FINANCE BILL, 2016 - Clause 14 - 14. In section 32AC of the Income-tax Act, in sub-section (1A),- (i) for the words acquired and installed during any previous year exceeds twenty-five crore rupees , the words, figur .....

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Provided that where the installation of the new assets are in a year other than the year of acquisition, the deduction under this sub-section shall be allowed in the year in which the new assets are installed. ; (iii) in the existing proviso, for the .....

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a, allows a deduction of a sum equal to fifteen per cent. of the actual cost of new machinery or plant (other than ship or aircrafts), acquired and installed by an assessee being a company engaged in the business of manufacture or production of any a .....

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