Location of New Undertaking & Types of Activity
Location of New Undertaking & Types of Activity
RESPECT TO LOCATION
OF UNDERTAKING &
TYPE OF ACTIVITY
Shaifali
Kanika
Dhanya
Shubhra
Chetan
its ownership.
Specific management decisions like make or buy,
own or lease, capital structure, renew or replace,
etc.
Employees remuneration.
Mergers/ Amalgamation of companies.
Double Taxation Relief.
Non-resident.
2. Location of Business
Full exemption u/s. 10AA for initial five years, 50% for subsequent
five years and further deduction of 50% for a further period of five
years in the case of a newly established units in special economic
zones on or after 1.4.2005.
Deduction
Deduction
3. Nature of Business
Tea Development Account, Coffee Development Account and Rubber
44AF)
Special provisions in the case of shipping business (Sec.44B)
Special provisions in the case of business of operation of aircraft (Sec.
44BBA)
Special provisions in the case of certain turnkey power projects (Sec.
44BBB)
Special provisions in the case of royalty income of foreign companies
(Sec. 44D)
Special provisions in the case of royalty income of non-residents (Sec.
44DA)
Profits and gains of industrial undertakings or enterprises engaged in
and
gains
from
certain
industrial
undertaking
other
than
IE)
Profits
The assessee should furnish in the Form No. 56F, alongwith the return
The
2.
Next 5 consecutive
assessment years
3.
Quantum of deduction:
The deduction shall be allowed of an amount equal to
and gains derived from such business for
ii.
2.
Quantum of deduction:
100% of profits and gains for 5 assessment years
commencing with the initial assessment year and
thereafter 25% of profits and gains.
2.
of
Faridabad, Gurgaon,
Gautam
Budh
Nagar
and
Quantum of deduction:
Quantum of deduction
100% of the profits and gains derived from such
business
for
10
consecutive
assessment
years
Essential conditions:
.Constructed between
1-10-2004 to 31-3-2008
Essential conditions :
constructed between 1-4-2008 to 31-3-2013
At least 100 beds for patients
The construction of the hospital is in accordance with the
100%
4.
Starts
operating
and
maintaining
the
infrastructural
% of
Deduction
Enterprise engaged
%
in developing,
maintaining
and operating any
infrastructural facility
For 10 consecutive
assessment years
100
development
account,
coffee
development
Essential conditions:
a) The assessee
Deposited
with NABARD
account
Board or
Rubber
accountant
audited by an
Quantum of deduction:
It shall be a) The amount deduction in the schemes referred to
above; or
b) 40% of the profits of such business computed under
the head profits and gains of business and profession,
Whichever is less.
B.
a)
b)
c)
C.
.The assessee for claiming deduction u/s 33AB must deposit the
asset which is not eligible under the scheme. Further , the money
withdrawn from the scheme in any previous year must be utilized
within the same previous year must be utilized within the same
previous year for the purpose mentioned in the scheme.
. Further, such assessee should take the benefit of subsidy from
line method
.In the case of such assessees, allowances in respect of
a)
In case of undertaking which began to generate power after 313-1997, the option must be exercised before the due date of
filling the return of income u/ s 139(1) for the assessment year
1998-1999.
b)
In case the undertaking begins to generate power after 31-31997, the option
B.
It is an undertaking which:-
a)
b)
the
c)
Undertakes
substantial
renovation
and
1-4-2004 to 31-3-2011.
[Sec.
44B] :As per Sec. 28 to 43A, in case of an assessee, who is a non-resident & is
engaged in the business of operation of ships, a sum equal to 7.5% of
B.
in existence.
Quantum of deduction
100% of the profits & gains derived from such
business for 10 consecutive Assessment Years
commencing with the Initial Assessment Year.
production of petroleum or natural gas or both in India & in relation to which Central
Government has entered into an agreement with such assessee for such business.
The assessee has before the end of the previous year
deposited amount with SBI in Special A/c maintained by the assessee with the bank, in
accordance with & for the purposes specified in a scheme approved by Ministry of
Petroleum & Natural Gas of the Government of India .
Deposit Scheme - deposited amount in Site Restoration A/c, in accordance with &
for the purposes specified in a scheme approved by aforesaid Ministry.
Assess must gets its account audited by an Accountant as defined in Sec. 288(2) &
furnish the report in Form No. 3AD alongwith the return of income.
Quantum of deduction:
It shall be(i) Amount deposited in the scheme as mentioned
above;
(ii) 20% of profit of such business computed under
the heads Profits & Gains of business or
profession,
Whichever is less.
What is not
expenditure ?
included
in
specified
The following shall not be eligible for deduction under this section
:
1.
2.
3.
Quantum of deduction:
The deduction to be allowed for any relevant previous year
shall be
an amount equal to 1/10th of the expenditure (such one-