banner_ad

Regarding deduction u/s 80-ib

This query is : Resolved 
Profile Image

Profile Image

(Querist)
28 January 2013 I was form a firm in 2007 which doing a business of warehouse(storage of food grains).
In Ass. Year 2011-12 i filed return and claimed deduction u/s 80IB but Income tax department are not give me deduction in this regard and raised demand against me.
so suggest me can i claimed under 80IB then how i claimed Deduction under this Section.
Profile Image

K.M.CHANDRAN

Profile Image

K.M.CHANDRAN (Expert)
29 January 2013 If yours is an integrated organisation engaged in handling,storage and transportation of food grains, you are eligible for deduction U/S 80IB :The eligibility is as follows
For companies : 100% of profit -deductible for first five years beginning with first assessment year. 30% of profit deductible for next 5 years.
For others :100% of profit deductible for first five years beginning with first assessment year. 25% of profit deductible for next 5 years.
You should file an appeal for above with Income Tax department.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details