TMI BlogDeduction u/s 80IC - if substantial expansion is undertaken, say, in 8th year by an assessee such an...Deduction u/s 80IC - if substantial expansion is undertaken, say, in 8th year by an assessee such an assessee would be entitled to 100% deduction for the first five years, deduction @ 25% of the profits and gains for the next two years and @ 100% again from 8th year as this year becomes ‘initial assessment year’ once again. However, this 100% deduction would be for remaining three years, i.e., 8th, 9th and 10th assessment years. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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