Income tax examption
This query is : Resolved
Nitish jain
(Querist)
19 April 2012
We want to start one CA store (Cold Store) in the month of April 2012. whether any income tax examption U/s 80IA, IB or IC or any other section is available.
Tks
Nitish
Tks
Nitish
CA PARAS BAFNA
(Expert)
19 April 2012
Yes profits are deductible to the extent of 100% for the first 5 years and thereafter 25%(30% in the case of a company) for the next five years. You are requested to check the provisions of Section 80-IB(11A).
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