Deduction u/s. 80ia(4)

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Kapil Ramesh Khivansara (Querist)
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16 January 2013 Whether benefit of section 80IA(4) is available to a partnership firm, if yes please clarify with relavant case laws.
Thank You

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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19 January 2013 The Scope of Section 80IA(4) covers an Indian Company.
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However, it depends upon the nature of specified business and the relevant date of starting the business also. It will be better if you could have specified in detail about the firm's business activities.

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Kapil Ramesh Khivansara

Kapil Ramesh Khivansara (Querist)
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01 February 2013 Actually the firm is engaged in construction contracts for Govt. and is SPV of Indian Co.
Which is having more than 90% sharing in that firm...so just wanted to know whether the firm can get the benefit of section 80IA(4) to the extent of 90% of indian company's holding

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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01 February 2013 Income-Tax Act does not have any such deduction provision.
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If you see the provisions of Deduction in Income-Tax Act, these look like an "Invitation to Party" but when you enter into the "Plot", restrictions starts to become applicable like " Sweets limited to 2 Pcs." - If you take this...you can't take that.../
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Your point may be considered as if you want to carry " Tiffin" at home for the members who could not attend.
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Kapil Ramesh Khivansara

Kapil Ramesh Khivansara (Querist)
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15 July 2013 Thankyou very much Sir

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