80jjaa deduction applicability to service sector

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PARTNER
25 Points Posted on 12 February 2024

Dear Team

Whether 80JJAA will be appliable for service sector especially Sofware industry  

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On 12 February 2024 at 10:16 Report
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This discussion explores the applicability of Section 80JJAA of the Income Tax Act to the service sector, particularly the software industry. This section offers deductions for hiring new or additional employees, aiming to stimulate job creation across all economic sectors in India, not just services. The core intent is to encourage employers to expand their workforce.

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Profession
28271 Points Posted on 12 February 2024
Chetty pls post your querry explicitly
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On 12 February 2024 at 13:22
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Chartered Accountant
86505 Points Posted on 12 February 2024
Section 80JJAA of the Income Tax Act provides deductions for the recruitment of new or additional employees. It is intended to encourage employers to hire new employees periodically. The main focus of this deduction to generate employment in all sectors of the Indian economy not only service sector.
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On 12 February 2024 at 19:20

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