Special provision in respect of specified business.

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..... with and subject to the provisions of this section, be allowed, in computing the total income of the assessee, a deduction of an amount equal to one hundred per cent. of the profits and gains derived from such business for three consecutive assessment years. (2) The deduction specified in sub-section (1) may, at the option of the assessee, be claimed by him for any three consecutive assessment .....

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..... plant which was used outside India by any person other than the assessee shall not be regarded as machinery or plant previously used for any purpose, if all the following conditions are fulfilled, namely:- (a) such machinery or plant was not, at any time previous to the date of the installation by the assessee, used in India; (b) such machinery or plant is imported into India; (c) no dedu .....

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..... s (7) to (11) of section 80-IA shall apply to the start-ups for the purpose of allowing deductions under sub-section (1). Explanation .- For the purposes of this section,- 3 [(i) eligible business means a business carried out by an eligible start up engaged in innovation, development or improvement of products or processes or services or a scalable business model with a high potential .....

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..... of section (2) of the Limited Liability Partnership Act, 2008. (6 of 2009.)] ********************* Notes:- 1. Inserted vide THE FINANCE ACT, 2016 w.e.f. 1st day of April, 2017. 2. Substituted vide THE FINANCE ACT, 2017 w.e.f. 1st day of April, 2018 before it was read as, five years .....

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..... ance Act, 2020 dated 27-03-2020 w.e.f. 01-04-2021 before it was read as twenty-five 8. Substituted vide THE FINANCE ACT, 2021 dated 28-03-2021 w.e.f. 01-04-2021 before it was read as 4 [2021] 9. Substituted vide Finance Act, 2022 w.e.f. 01-04-2022 before it was read as 8 [ 2022 ] 10. Substituted vide THE FINANCE ACT, 2023 dated 31-03-2023 w.e.f. 01-04-2023 bef .....

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