Deduction u/s 80ia

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 December 2015 Our company is a manufacturer of Electrical Terminals & now planning to install wind mill.
Kindly guide us whether we are eligible to claim dedution u/s 80IA for wind mill? And what are the conditions for claiming deduction u/s 80IA?

Thanks in advance.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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29 December 2015 Section - 80-IA, Income-tax Act, 1961-2015
4 ) Sub category iv) an undertaking which,—
(a) is set up in any part of India for the generation or generation and distribution of power if it begins to generate power at any time during the period beginning on the 1st day of April, 1993 and ending on the 31st day of March, 80[2017];
(b) starts transmission or distribution by laying a network of new transmission or distribution lines at any time during the period beginning on the 1st day of April, 1999 and ending on the 31st day of March, 80[2017]:*****80. Substituted for "2014" by the Finance (No. 2) Act, 2014, w.e.f. 1-4-2015.
Provided that the deduction under this section to an undertaking under sub-clause (b) shall be allowed only in relation to the profits derived from laying of such network of new lines for transmission or distribution;
(c) undertakes substantial renovation and modernisation of the existing network of transmission or distribution lines at any time during the period beginning on the 1st day of April, 2004 and ending on the 31st day of March, 80[2017].

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