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TMI BlogAmendment of section 35AD.X X X X Extracts X X X X X X X X Extracts X X X X ..... April, 2011, where the specified business is in the nature of developing and building a housing project under a scheme for affordable housing framed by the Central Government or a State Government, as the case may be, and notified by the Board in this behalf in accordance with the guidelines as may be prescribed; (ae) on or after the 1st day of April, 2011, in a new plant or in a newly installed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ordance with the guidelines as may be prescribed; (viii) production of fertilizer in India;". - Clause 6 of the Bill seeks to amend section 35AD of the Income-tax Act relating to deduction in respect of expenditure on specified business. The existing provisions contained in sub-section (5) of the aforesaid section provide for the date of commencement of operations of the specified businesses refer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e housing framed by the Central Government or a State Government, as the case may be, and notified by the Board in this behalf in accordance with the guidelines as may be prescribed. It further seeks to insert a new clause (ae) in the said sub-section (5) to specify that the date of commencement of operations shall be on or after the 1st day of April, 2011 in a new plant or in a newly installed ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng project under a scheme for affordable housing framed by the Central Government or a State Government, as the case may be, and notified by the Board in this behalf in accordance with the guidelines as may be prescribed. It also seeks to insert a new sub-clause (viii) in the said clause (c) of the aforesaid sub-section (8) so as to include production of fertilizer in India as a specified business ..... X X X X Extracts X X X X X X X X Extracts X X X X
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