Deduction Under Section 80 IC
This query is : Resolved
20 July 2009
My cleints is a partnership firms who have established their business in the state of Himachal Pradesh after a certain date and full fill all the condition as mentioned in Scetion 80 IC of Income Tax Act and eligible for a deduction of 100% up to first 5 year and after that 25% for next 5 year.
Now our question is that if an existing unit which has already taken a benefit of 100% deduction in first five years, make substantial expansion in its sixth year of operation then will it be eligible for deduction of 100% for next five year?.
Now our question is that if an existing unit which has already taken a benefit of 100% deduction in first five years, make substantial expansion in its sixth year of operation then will it be eligible for deduction of 100% for next five year?.
21 July 2009
No, only new unit setup will be eligible for 100% deduction.
Substantial expansion to the exsisting unit will not eligible for 100% deduction.
Substantial expansion to the exsisting unit will not eligible for 100% deduction.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Value of property in capital gain
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
