Claiming deduction u/s 80IC

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..... A firm availing claiming 100% deduction u/s 80IC is taken over by a Company on 1/4/2011 (fulfilling conditions of Sec 47(xiii) of Income Tax Act, 1961 ) on which date 5 years of 100% deduction al .....

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..... so expire. Will it get 25% deduction or 30% deduction for next five years? and if the assessee starts Unit II before 01/04/2012, then will it get 100% deduction for first five years and then 30% dedu .....

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..... ction for next five years? - Reply By Surender Gupta - The Reply = Such type of deduction is allowed in case of amalgamation or demerger only. There is no similar provision in case of firm. Moreov .....

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..... er in case of amalgamation or demerger there is a sunset clause of 1.4.2007 - Claiming deduction u/s 80IC - Query Started By: - Toshar Ahuja Dated:- 31-12-2010 Income Tax - Got 1 Reply - Income Tax .....

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..... - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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