Will an Assessee gets deduction under section 80IB(11A) who is operating cold storage facility for preserving fruits & Food grains....if yes please kindly mention the exact clause of the same
Will an Assessee gets deduction under section 80IB(11A) who is operating cold storage facility for preserving fruits & Food grains....if yes please kindly mention the exact clause of the same
[Deduction in respect of expenditure on specified business. 35AD. (1) An assessee shall be allowed a deduction in respect of the whole of any expenditure of capital nature incurred, wholly and exclusively, for the purposes of any specified business carried on by him during the previous year in which such expenditure is incurred by him : Provided that the expenditure incurred, wholly and exclusively, for the purposes of any specified business, shall be allowed as deduction during the previous year in which he commences operations of his specified business.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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