Deduction under section 80J of the Income-tax Act, 1961, in respect of profits and gains from new industrial undertakings

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..... a deduction at the rate of 6% per annum of the capital employed is allowed from the profits of new industrial undertakings, ships and hotels which fulfil the prescribed conditions. In the case of companies where the new industrial undertakings begin to manufacture after 31-3-1976 or ships are first brought into use after 31-3-1976 or the business of a hotel starts functioning after that date, the .....

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