80IB

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Shruti Jain

Shruti Jain (Querist)
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06 January 2010 What are the conditions to be fulfilled by a partnership firm for claiming deduction u/s 80IB?

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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06 January 2010 Section 80-IB

DEDUCTION IN RESPECT OF PROFITS & GAINS OF CERTAIN INDUSTRIAL UNDERTAKINGS OTHER THAN INFRASTRUCTURE DEVELOPMENT UNDERTAKINGS

Persons Covered

Assessee carrying any of the eligible businesses through following industrial undertaking or enterprise:â€”

1.

Industrial Undertaking located in notified backward district, state or region or other places or Small scale industrial undertaking, engaged in manufacturing/producing any articles/things or operating its cold storage plant;

2.

Operation of ship;

3.

Hotels;

4.

Multiplex Theatres;

5.

Convention Centres;

6.

Scientific Research & Development;

7.

Production or refining of mineral oil;

8.

Developing and building housing projects;

9.

Operating cold chain facility for agricultural produce;

10.

Processing, preserving and packaging of fruits and vegetables or integrated business of handling, storage and transportation of food grains;

11.

Operating and maintaining hospital in any area other than excluded area.

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