Incentive for employment generation

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..... Incentive for employment generation
Budget
Dated:- 5-2-2018

Incentive for employment generation At present, under section 80-JJAA of the Act, a deduction of 30% is allowed in addition t .....

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..... o normal deduction of 100% in respect of emoluments paid to eligible new employees who have been employed for a minimum period of 240 days during the year. However, the minimum period of employment is .....

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..... relaxed to 150 days in the case of apparel industry. In order to encourage creation of new employment, it is proposed to extend this relaxation to footwear and leather industry. Further, it is also .....

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..... proposed to rationalize this deduction of 30% by allowing the benefit for a new employee who is employed for less than the minimum period during the first year but continues to remain employed for the .....

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..... minimum period in subsequent year. This amendment will take effect, from 1st April, 2019 and will, accordingly, apply in relation to the assessment year 2019-20 and subsequent assessment years. [Cl .....

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..... ause 27]
News - Press release - PIB .....

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