It benefits on solar power project
This query is : Resolved
25 September 2014
will you please inform income tax benefits available on setting up of solar power project
25 September 2014
Section 32 of IT act provides Accelerated Depreciation of 80 % of the INVESTED capital to professionals companies with tax liability
Investors can set off their tax liability on the taxable income to the tune of 80% in the 1st year, and subsequently 20% in the 2nd year
Section 80-IA (sub section 4)of income tax Act, 1961 allows 100% tax waiver on the income generated for any single 10 year period during first 15 years of operational life of a power generation project.
Investors can set off their tax liability on the taxable income to the tune of 80% in the 1st year, and subsequently 20% in the 2nd year
Section 80-IA (sub section 4)of income tax Act, 1961 allows 100% tax waiver on the income generated for any single 10 year period during first 15 years of operational life of a power generation project.
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