Deduction u/s 80-ia

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 November 2011 To be entitled for subject deduction, should the assessee own the infrastructure facility?
Also, should he undertake the entire project or is exemption available for part of the work also?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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12 November 2011 Yes, assessee should own the infra -structure facility to get Deduction U/s 80IA.
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Deduction is allowed to an enterprise owned by Indian Co. or a consortium of such Cos. , or by any corporation or body constituted under any Act.
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The part of Work ,which you want to carry on to get 80IA deduction can be owned by a separate enterprise of the Company.
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There is a requirement of entering into an agreement with the Govt or local authority to get such deduction on the profits of such enterprise.

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