Deduction u/s 80IC - if substantial expansion is undertaken, ...

Section 80IC: 100% Tax Deduction for Substantial Expansion in 8th Year, New Initial Assessment Year for 3 Years.

February 22, 2019

Case Laws Income Tax SC

Deduction u/s 80IC - if substantial expansion is undertaken, say, in 8th year by an assessee such an assessee would be entitled to 100% deduction for the first five years, deduction @ 25% of the profits and gains for the next two years and @ 100% again from 8th year as this year becomes ‘initial assessment year’ once again. However, this 100% deduction would be for remaining three years, i.e., 8th, 9th and 10th assessment years.

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Deduction u/s 80IC - if substantial expansion is undertaken, ...

Section 80IC: 100% Tax Deduction for Substantial Expansion in 8th Year, New Initial Assessment Year for 3 Years.

February 22, 2019

Case Laws Income Tax SC

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