Amendment of section 35AD

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..... etroleum and Natural Gas Regulatory Board established under sub-section (1) of section 3 of the Petroleum and Natural Gas Regulatory Board Act, 2006"[ 19 of 2006] shall be substituted; (b) for sub-section (3), the following sub-section shall be substituted with effect from the 1st day of April, 2011, namely:— '(3) Where a deduction under this section is claimed and allowed in respect of the spec .....

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..... clause (aa)" shall be substituted; (d) in sub-section (8), in clause (c), after sub-clause (iii), the following sub-clause shall be inserted with effect from the 1st day of April, 2011, namely:—"(iv) building and operating, anywhere in India, a new hotel of two-star or above category as classified by the Central Government;". - Clause 10 of the Bill seeks to amend section 35AD of the Income tax .....

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..... hould have made not less than one-third of its total pipeline capacity available for use on common carrier basis by any person other than the assessee or an associated person. Sub-clause (a) proposes to amend sub-clause (c) of clause (iii) of sub-section (2) of the aforesaid section 35AD so as to provide that the proportion of the total pipeline capacity to be made available for use on common car .....

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..... all be allowed under the provisions of Chapter VI-A under the heading "C.- Deductions in respect of certain incomes" in relation to such specified business for the same or any other assessment year. Sub-section (5) of the aforesaid section 35AD prescribes the conditions as regards the date of commencement of the specified business. Sub-clause (c) proposes to amend sub-section (5) of t .....

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..... where in India, a new hotel of two-star or above category as classified by the Central Government within the purview of "specified business". These amendments will take effect from 1st April, 2011 and will, accordingly, apply in relation to the assessment year 2011-2012 and subsequent years.
Statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation .....

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