Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

Insertion of new section 80-IAC.

Section 42 - Act - DIRECT TAXES - Finance Act - Section 42 - 42. After section 80-IAB of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2017, namely:- Special provision in respect of specified busin .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

puting the total income of the assessee, a deduction of an amount equal to one hundred per cent. of the profits and gains derived from such business for three consecutive assessment years. (2) The deduction specified in sub-section (1) may, at the op .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

, namely:- (i) it is not formed by splitting up, or the reconstruction, of a business already in existence: Provided that this condition shall not apply in respect of a start-up which is formed as a result of the re-establishment, reconstruction or r .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ly used for any purpose. Explanation 1.- For the purposes of this clause, any machinery or plant which was used outside India by any person other than the assessee shall not be regarded as machinery or plant previously used for any purpose, if all th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

f depreciation in respect of such machinery or plant has been allowed or is allowable under the provisions of this Act in computing the total income of any person for any period prior to the date of the installation of the machinery or plant by the a .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

twenty per cent. of the total value of the machinery or plant used in the business, then, for the purposes of clause (ii) of this sub-section, the condition specified therein shall be deemed to have been complied with. (4) The provisions of sub-secti .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     bird's eye view     ↓  


|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version