Deduction u/s. 80ia(4)
This query is : Open
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
Thank You
CA PARAS BAFNA
(Expert)
19 January 2013
The Scope of Section 80IA(4) covers an Indian Company.
.
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.
.
.
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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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
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
(Expert)
01 February 2013
Income-Tax Act does not have any such deduction provision.
.
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.../
.
Your point may be considered as if you want to carry " Tiffin" at home for the members who could not attend.
.
.
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.../
.
Your point may be considered as if you want to carry " Tiffin" at home for the members who could not attend.
.
15 July 2013
Thankyou very much Sir
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