Amendment of section 35AD.

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..... s , if the deduction has been claimed or opted by the assessee and allowed to him under this section shall be inserted. - Clause 18 of the Bill seeks to amend section 35AD of the Income-tax Act relating to deduction in respect of expenditure on specified business. Sub-section (1) of the said section, inter alia, provides for one hundred per cent. deduction on capital expenditure incurred o .....

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..... o the assessee under any other section in any previous year or under this section in any other previous year, if the deduction has been claimed by the assessee and allowed to him under this section. These amendments will take effect from 1st April, 2020 and will, accordingly, apply in relation to the assessment year 2020-2021 and subsequent assessment years. - statute, statutory provisions l .....

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