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The aggregate amount of deductions u/s 80 C to 80 U cannot exceed gross total income after excluding the following: LTCG and STCG Winning from lotteries, races etc. Income referred to under following sections: 115A Tax on dividends, royalty, and technical service fees in the case of foreign companies. 115AB Tax on income from units purchased in foreign currency or capital gains arising from the transfer. 115AC Tax on income from bonds or shares purchased in foreign currency or capital gains arising from the transfer. 115AD Tax on income on foreign institutional investors from securities or capital gains arising from their transfer. 115BBA Tax on non-resident sportsmen or sport’s association. 115 D Special provisions for computation of total income of non-residents. It must be noted that, an assessee can claim deduction only if the gross total income is positive. Where an AOP / BOI is entitled for deduction u/s 80 G/GGA/GGC/IA/IB/JJ, a member thereof cannot claim the same deduction in relation to the share of such member in the income of the association. Deductions u/s 80 IA to 80 U is admissible in respect of “net income” computed under the provisions of the Act i.e. income arrived after deducting permissible deductions and adjusting the current and brought forward losses. The aggregate of 80C, 80CCC and 80CCD should not exceed Rs.1,00,000. Procedure to avail deduction: 1. After finding the Gross total income, subtract the deduction u/s 80C, 80CCC, 80 CCD subject to the limit of Rs.1,00,000. [Note that no deduction u/s 80 CCA and 80 CCB is allowed] 2. The amount so obtained is the net income of the assessee. 3. Then deductions under other sections are allowed.
SEC. 80 C
DESCRIPTION Life Insurance premia, deferred annuity, contributions to PF, subscription to certain equity shares or debentures
PROVISIONS Deduction is available from the Gross total income. Deduction is available if the assessee makes specified investments/ contributions/ deposits/ payments during the previous year. This is called gross qualifying amount.
can be made out of taxable income or otherwise. . Minimum period of holding: Nature of deposit Minimum period holding (years) 5 2 of Unit-linked insurance plan (ULIP) Life insurance premium Cost of purchase/ construction of a residential house property including 5 repayment of the loan. In the case of an individual. would be deemed as the income of the taxpayer for the year in which the contribution to the plan is terminated.Such investments.Tuition fees (not including any donations or development fees) .Securities of a company engaged in new infrastructure facility . Some of the contributions included in the gross qualifying amount are: .15 year PPF .Units and notified pension scheme of mutual fund and UTI . spouse or any children (irrespective of his age or marital status).NSC – 8 . etc.Amount deposited under Senior citizen saving scheme .5 year time deposit in post office .ULIP of UTI or LIC mutual fund .Cost of purchase/ construction of a residential house property including repayment of the loan .Superannuation fund . deposits. policy must be taken on his own life.In respect of deduction already taken in the preceding years.Notified bonds of NABARD . .Sum paid (including interest) as subscription to Home loan account scheme or any notified pension scheme of NHB. The total gross qualifying amount must be calculated on payment basis during the previous year.Notified annuity plan of LIC .If the taxpayer terminates participation in the plans. and in case of HUF any member. Deposit under Senior citizen scheme 5 Time deposit in post office 5 . regardless of the fact that whether the payments relate to this year pr any earlier year.Life insurance premium [Premium actually paid or 20% of the sum assured (lesser)] . before completing 5 years then such contribution will not be qualified u/s 80 C.
life of spouse or his child only. The assessee must deposit under the NSS 1987. if the HUF has availed deduction in the previous years. In case the assessee receives money due to repurchase by the Fund or Trust. Sum assured does not include any premium agreed to be returned or any benefit by way of bonus. Same for HUF.Y.70. In case of HUF. 80 CCA National Saving Scheme Deduction is available only for the A. and is taxed accordingly. 80 CCB Equity Linked Savings Scheme Deduction is allowed if investment in the notified ELSS is made in the years 1991-92 and 92-93. LIP should be taken for his own life. any member. when he receives the deposit made by him. 80 CCC Pension Fund Taxpayer must be an individual (irrespective of his residential status or citizenship). The assessee would be taxed at the date of maturity.000. But for Public Provident Fund. or under Jeevan Dhara/ Akshay Plan of LIC.There is no ceiling on the amount of contribution under the Act. Any amount standing to the credit of the assessee under the NSS withdrawn/ received. 1988-89 to 1992-93 in case of an individual or a HUF. the maximum limit is Rs. (Repurchase price of units) – (Amount invested by assessee) = Capital Gain. Where a HUF has parted then the amount so received by the members will be taxable. it will be deemed to be his income in the year of receipt. or on termination of plan. it will not be taxable in their hands. Accrued interest which is deemed as reinvested is also qualified for deduction for first 5 years. He must have deposited a sum under an annuity plan of LIC of India or any other insurer for receiving pension. on account of surrender of JD/JA (or as annuity or bonus) an amount equal to the entire amount received by the assessee is deemed to be the income of the assessee of that period. Where the amount is paid on the death of the assessee to the legal heirs. when he receives the deposit made by him. . The assessee would be taxed at the date of maturity.
If deduction is claimed u/s 80C for this amount. or any other employer. the amount received by him (or his nominee) will be taxable on: . on or after 1st Jan 2004. If the employee has to his credit a sum in the pension account.The deposit should be made from the income chargeable to tax (either current year’s or previous year) In case the assessee or his nominee surrenders his annuity before maturity date. children.closure of account . 80CCC and 80CCD should not exceed Rs. He must deposit a sum in his account under the scheme in the previous year. Taxpayer is an individual.000.00. then the pension will be taxable if he has claimed deduction u/s. Premium is paid in the accordance with the scheme framed by the General Insurance corporation of India and approved by the . 80 CCD Contribution to a notified Pension scheme of Central Govt.1. If the assessee or his nominee receives pension after maturity. and has availed deduction in the earlier years. Amount deposited u/s 80 CCA and CCB is NOT deductible [see provisions for details]. bro/sis Medical Insurance Premia Taxpayer must be an individual or a HUF (irrespective of residential status or citizenship). He is employed by the central govt. Similarly for the employer’s contribution in addition. or by any other employer. Dependents = spouse. No deduction is available in respect of employee’s contribution in excess of 10 % of salary. then deduction u/s 80CCC will not be allowed. If deduction is claimed u/s 80C for this amount. then deduction u/s 80CCC will not be allowed. Salary includes “DA” only (if terms so provide).surrendering the scheme before maturity . NOTE: 80 D The aggregate of 80C.receipt of pension from the annuity plan. the surrender value shall be taxable in the hands of the assessee or his nominee. then. parents.
Therefore.15. or dependent children. training and rehabilitation of the disabled dependent. then the assessee cannot claim deduction u/s 80 DD. the scheme is called “mediclaim” ins. . as approved by the Board in this behalf. Policy is taken for: . It is paid out of the income chargeable to tax.Paid or deposited any amount under the scheme framed by LIC or any other insurer. for maintenance. Taxpayer has actually incurred expenditure for the medical . then the amount so deposited in the scheme will be taxable.000 .000 for parents (if any). .Assessee. The amount deposited in similar schemes approved by Ins.5. If all the possibilities are true. The premium is paid by any mode but not in cash. If the dependent has claimed any deduction u/s 80 U in computing his total income.000 is allowed. parents (not grand-parents) dependent or not. his spouse.Expenditure incurred for medical treatment including nursing. 80 DDB Medical Treatment Taxpayer must be a resident individual or a HUF (irrespective of citizenship). Policy. Regulatory and Development authority is also considered.HUF or any member.If severe disability (> 80 %): Flat 75.000 [(15 + 5)+(15+5)].000 If dependent predeceases the taxpayer.If disability (> 40 %) : Flat 50. and additional Rs. - 80 DD Maintenance including medical treatment of a disabled dependent. Similarly if his parents are senior citizen then additional Rs. Deduction: . Deduction: Rs.40. an additional amount of Rs.Central Govt.5.15. Qualifying sum: . the maximum deduction allowed in this section. If the taxpayer or/and his spouse are senior citizen (>65 and resident in India) then.000 for [taxpayer. Resident individual and HUF. or the Administrator or the specified Co. spouse and dependent children]. will be Rs.000 is allowed.
80 E Repayment of loan taken for higher education The assessee is an individual. or until the above interest is paid in full (earlier). It depends on the % age specified in the list.Rs.000) or actual whichever is lower. The assessee must submit a certificate in the prescribed form no. Deduction: Entire interest (not principle) is deductible beginning from the year in which the assessee starts paying the interest on the loan and 7 immediately succeeding A. 80 G Donations to certain funds. full-time studies for any graduate or post-graduate course. . Amount is paid by the individual during the previous year by way of interest on such loan out of his income chargeable to tax.treatment of a specified disease for himself or dependents.e. .The amount received from the insurer or any reimbursement from the employer. 2.000 or actual whichever is lower. taken a loan from a financial institution or an approved charitable institution. Find the total donations made. Deduction: . In case of HUF for members. [Maximum limit being 10 % of the adjusted gross total income. This is the gross qualifying amount. find the amount of deduction.In case the assessee or his dependants then Rs. Then calculate the adjusted gross total income STEP 2: 1. Then the contributions which are subject not maximum limit must be noted down as it is. This is the net qualifying amount. Find the gross total income 2.40. . will be deducted from the amount of deduction (not expenditure). 3.60.000 (instead of Rs. And the contributions which are subject to maximum limit must be added accordingly. This implies that the amount of donation in these select cases or the maximum limit whichever is lower is added].Y. charitable institutions. Donations made in kind are not allowed. STEP 1: 1. Loan is taken for the purpose of pursuing higher education i. It is taken for his own education or for his spouse or any child.10-I from a specialist working in a government hospital (the doctor may not be employed there). Now.40.
.Incomes referred to in Sec. and technical service fees in the case of foreign companies.Income u/s 115 A . The individual.T.such incomes. on which income tax is not payable . Sec. Deduction: Least of.S.STCG taxable u/s 111A at the rate of 10 %.L.25 % of total income .T.C.000/m . regarding the expenditure incurred by him towards payment of rent. . at any time during the P. The taxpayer must file a declaration in Form no.G .Y. 115AC: Tax on income from bonds or shares purchased in foreign currency or capital gains arising from the transfer.G on transfer of equity shares or units of equity-oriented mutual funds on or after October 1.amount deductible u/s 80 C to 80 U (but not 80 G) . 2004. To find Adjusted Total Income reduce from gross total income: . or carries on his B/P. Sec.2. then such property should not be assessed in the hands of the individual as self-occupied property.LTCG .R. He is not getting H. minor child or HUF (if he is a member of it) must not own any residential accommodation at the place where the taxpayer resides. 80 GG Rent paid Taxpayer is a self-employed individual.Excess of actual rent paid over 10 % of Adjusted Total Income (Refer note above). spouse. royalty.Rs. If the assessee owns any residential accommodation at any place other than the place of residence or work of the assessee.115AB: Tax on income from units purchased in foreign currency or capital gains arising from the transfer.115A: Tax on dividends.C.A. Sec.Amount deductible u/s 80 CCC to 80 U (except 80 GG) . 115AD: Tax on income on foreign institutional investors from securities or capital gains arising from their transfer.NOTE: Adjusted Gross Total Income the following should be deducted: . performs his duties. 10 BA. .
80 GGB/C Contribution to political parties Deduction is allowed on the contribution to a political party. Deduction: For the first 5 years the entire profits shall be deductible starting from the P. N.Local authority and . college etc for the said purpose.Every artificial judicial person wholly/partly funded by the government.National Urban Poverty Eradication Fund Deduction: Full deductible. Profit from export of computer software P from export or transfer of films’ software Profit from business/ processing of bio-degradable waste 80 JJAA Employment of new Inserted to encourage employment. Sum is paid to an. Sum paid to a public sector Co. association or an approved university. but not to . Sum paid to . Sum is paid to an approved scientific research association or an approved university. in which such business commences. N. N. and submits a certificate for this. or a local authority or an association approved by the National Committee for carrying out any eligible project.Y. 80 HHB 80 HHBA 80 HHC 80 HHD 80 HHE 80 HHF 80 JJA Profit from projects outside India P from housing projects aided by world bank Export Turnover Earnings in convertible foreign ex.A.A.A.A.A. institution for research in social science and statistics. training of persons for implementing such programmes. Contribution to these institutions will be qualified for deduction even if after the date of making contribution. An approved association or an undertaking which conducts rural development programmes.National Fund for Rural Development .A. . Condition: Gross total income must include any profit derived from related activities. N. the approval granted to these institutions have been withdrawn.80 GGA Donations for scientific research or rural development Assessee is not taxed u/h PGBP. college. N. N.
a workman employed through contract labour .It means the wages paid to the new regular workman in excess of 100 workmen employed during the P. or in police service . and then for the next 2 A. unskilled.1600/m Casual workmen.a workman employed for a period of <300 days Additional Wages: . of workmen employed in such undertaking as on the last day of the P. Assessee furnishes along with the return of income the report of a CA in form no.Y.a person who is employed in managerial or administrative capacity . skilled. Other workmen (not covered in A and B) employed for ≥300 days. Deduction is allowed for 3 A. clerical or supervisory work. Other workmen (not covered in A and B) employed for <300 days. Industrial undertaking is not formed by splitting up or reconstruction/amalgamation of an existing co. Income of the taxpayer includes any profits derived from any industrial undertaking engaged in the manufacture of an article or a thing. only.Y.1600/m Regular Workmen: excludes . workmen employed through contract labour (not covered in A). It starts from the year in which the regular workman are employed first. military or navy. . NOTE: Workman: means any person employed in an industry to do any manual. . Nature of employment: A B C D Employees employed in managerial or administrative capacity and a person who is employed in supervisory capacity and draws wages exceeding Rs.Y. technical. but excludes the following: .workmen Taxpayer is an Indian company.However in case of an existing industrial undertaking – additional wages shall be nil if the increase in the number of regular workman employed during the year is <10 % of existing no.a person who is employed in supervisory capacity and draws wages exceeding Rs.a casual workman .Y.10 DA Deduction: 30 % of additional wages paid to the new “regular workmen” employed by the assessee in the previous year.a person who is in air-force.
of W employed are > 100 2. livestock etc.Y. In case of a new undertaking:1. In case of an existing undertaking: 1.Business of banking. relevant to the previous year in which permission is obtained. . Deductions under this section in respect of business income of a co-operative society shall be available with reference to income after claiming deduction u/s 80I and 80 IA.Y. investments Certain income of off-shore banking units and international financial services centre N.Fishing activities . For interest and dividend received from other co-op soc and for warehousing income. And. If yes.A. milk. of W employed are > 100 2. If yes. fruits.Marketing of agricultural produce. of W employed in undertaking as on the last day of the P.R. such income of any such soc is fully exempted. find wages paid to new RW in excess of 100 W employed. . 80 L 80 LA Interest on certain securities.Y. for the further next 5 years. 50 % of such income will be deductible.Workman means B + C + D Regular workman means A Computing amount of deduction: A. Deduction: 100 % of income received in convertible forex in accordance with the regulations of FEMA is deductible for 5 consecutive A. Find whether no.A cottage industry . beginning with the A. vegetables . B. of primary agricultural credit society or primary co-op agricultural and rural development bank. . The assessee is (a) scheduled bank and has a off-shore banking unit in a sez (b) a foreign bank and has a off-shore banking unit in a sez (c) a unit of International Financial Services centre A report from the CA certifying deduction availed u/s A copy of permission obtained under the provisions of B. find number of RW newly employed during the year and whether it is ≥10 % of existing no. 1949 must be submitted with the return. oil seeds. Find whether no. 80 P Income of a co-operative society For 100 % deduction the soc. Act.Labour co-op . must be engaged in .The processing without the aid of power of agricultural produce of its members.Purchase of agricultural implements.
is brought in India within 6 months from the end of the P. Furnish form no.A.80 QQB Royalty income of authors Deductions allowed: . whose name is entered on the patent register. teachers. prof.Y.3.Rs. services rendered outside India Royalty on Patents The taxpayer is an individual resident in India (irrespective of citizenship and residential status). (Advance payment which is not returnable is also included) . It must not include diaries.00.1.Rs.A.50. Patentee means the person (being the true and first inventor). . taxable upto 15% only].000 for consumer co-op soc.000 . pamphlets. magazines. journals.Royalty or copyright fees payable in lump sum or otherwise in respect of aforesaid book.000 for other co-op soc.Lump sum consideration for transfer (or grant) of any interest in the copyright of the book. 80 R 80 RR 80 RRA 80 RRB Where the income is not a lump sum consideration. registered under the Patent Act . abroad Remuneration received for N. guides. then the income (before allowing expenses related to this income) in excess of 15 % of the value of the books sold during the P. . Professional income from N. (or within extended period as stated by RBI) is allowed as deduction. The taxpayer is an individual resident in India (irrespective of citizenship and residential status). Remuneration from abroad to N. He receives royalty on patents.Y.100 % of income for co-op soc.Rs. Book authored by him is work of literary. Deduction: (lower of) . newspapers. shall not be taxable [i. He is a patentee or a co-owner of patent.e.A. engaged in specified activities.00.10 CCD along with the return. He is an author or joint author. He must not be a NRI. text-books The gross total income of the taxpayer includes: .Income from royalty The income earned outside India. He must not be a NRI. artistic or scientific nature.
000 . it does not include any consideration for sale of product manufactured with the use of patented process or of the patented article.Y. Deduction: (lower of) .00.10 CCE along with the return.Rs.g.] Deduction: . [Medical authority means any hospital or institution notified by appropriate Govt.3.locomotor’s disability . He must not be a NRI. (or within extended period as stated by RBI) is allowed as deduction. Furnish form no. then the court cannot withdraw that sum.hearing impairment . is brought in India within 6 months from the end of the P. 80 U Person with disability The taxpayer is an individual resident in India (irrespective of citizenship and residential status).after 31st March 2003.blindness .low vision . The court passes an order in A. the deduction related to the royalty income in respect of the period for which the patentee’s claim was not valid.mental retardation .Y.Income from royalty The income earned outside India. Subsequent revocation of patent: If the patent is revoked by the High Court or Controller. in respect of that patent. shall be withdrawn. He suffers from > 40 % disability given below: .mental illness A certificate from the medical authority must be submitted with the return. E. The court proceedings took 3 years and finally he lost the right.leprosy cured . 00-01 that the patentee has lost his title. A certificate in this regard stating that the deduction claimed is correct must be filed. If proceedings took 5 years. In the meantime the patentee claimed deduction u/s. and so he would then have to pay tax on that amount also. (Advance payment which is not returnable is also included) However. For this purpose the assessment may be rectified within a period of 4 years from the end of the previous year in which such order is passed. or the name of the assessee is excluded from the patent register as patentee. The court can withdraw the deduction claimed.
Return of income must be submitted in time. Water treatment system constructed will also include any structure built for the treatment of effluents and its conveyance for disposal. water treatment system. 4. loading and unloading etc. sanitation and sewage system or solid waste management system . local authority. 2. will be included in the definition of ports. Infrastructure facility means: . inland waterway or inland port or (from AY 2008-09) navigational channel in the sea The undertaking can operate and maintain an infrastructure facility on the basis of BOT or BOOT: In case of ports.75. irrigation project. State Govt. CASE 1: Undertaking providing infrastructure facility: Conditions: 1. In case of disability > 80% then Rs. There should be an agreement with the Central Govt.a water supply project. 5.50.88 E Securities Transaction Tax A fixed deduction of Rs.a road including toll road. or a local authority or any other statutory body for developing. 80 IA: Profits from industrial undertaking engaged in infrastructural development etc. It should be owned by an Indian company (or a group of companies). It must is operating and maintaining the infrastructure facility on or after 1st April. 1995. It should provide infrastructure facility. 3. airport. operating and maintaining a new infrastructural facility.a highway project including housing or other activities being an integral part of the highway project .000 is available. or any board or body establisher under the Central or State Act. a bridge or a rail system . structures built for storage.000 N. if the concerned port authority has issued a certificate that the said structures form a part of the port.a port.A. Deduction: .
water treatment system. is not applicable in this case. But it should not fall beyond the 15th A. Exceptions: 1. then tax will not be levied. However. 3. a.Y falling within a period 15 A. (but after 31/3/1994). starting from the initial A. Industrial undertaking should be set up in certain specified categories of states. o Conditions to be satisfied: Housing and other development activities are integral part of highway project.Y. Profits are computed in the prescribed manner. in which such amount is transferred. Any transfer of P/M to a new business is not allowed. Housing and other development activities which are integral part of highway: o The deduction mentioned above. Second hand machinery from outside India 2. The amount remaining unutilized shall be chargeable to tax. No depreciation under Income tax in India has ever been allowed on the same. substantial expansion should take place during the time-limit given below.Y. The industrial undertaking must manufacture or produce specified goods/articles.If all the conditions are satisfied. the benefit is available for 10 consecutive A. in which the enterprise begins operating and maintaining the infrastructure facility. It should be in a specified area also.Y. or reconstruction. Should not be found by splitting up. starting from the P. Initial Year: means the A.Y. Transfer of old P/M to new undertaking does not exceed 20 % of the total value of the P/M of the new undertaking. [Refer exceptions] The machinery or plant used by this new business should also be new. - . In the case of an existing unit.Y. The amount so deposited must be utilized for highway project excluding housing and other development activities but before the expiry of 3 years following the P. 80 IC Profits of certain undertaking in certain special category of States Conditions: 1.Y. But in the following cases the period allowed is 20 instead of 15: o a highway project including housing or other activities being an integral part of the highway project o a water supply project. The industrial undertaking must begin to manufacture or produce within the timelimit specified below. specified by the assessee at his option to be the initial year. then 100 % profit is deductible for 10 years. of a business already in existence. If the profit is transferred to a special reserve account. irrigation project. sanitation and sewage system or solid waste management system b.
Theme Park . HP.Step 2: Find out the amount of investment in P/M during the P.Step 3: (2) / (1) If the proportion computed under (3) is 50 % or more. then it is taken as substantial expansion. .Export Processing Zone .Industrial Park . Any article but other than those given in the 13th Schedule [Part A] "[Part B] Amount deductible.Software Technology Park .Industrial Area . in time. No restriction on nature of article. 100 % of the profit of the industrial undertaking for 10 years commencing from the initial A.Y. then the article to be produced or manufactured or any substantial expansion must be listed in the 14th Schedule.Industrial Growth Centre . Notified industrial zones for the relevant State are: . and 25 % (30% in the case of a Co. 100 % of the profit of the industrial undertaking for 10 years commencing from the initial A. Calculating substantial expansion: . Uttaranchal North eastern states 24/12/97 to 31/12/07 Ay article can be produced. If the return is not submitted in time.- The books of account of the taxpayer should be audited and the audit report must be submitted in a form along with the return. .) for the next 5 years.Y. then deduction will not be allowed.Industrial Estate . in which substantial expansion takes place. 100 % of the profit of the industrial undertaking for the 1st 5 years commencing with the initial A. In case an industrial undertaking is not in an industrial zone.Y.Y. Amount of Deduction: State in which the industrial undertaking is set-up Sikkim Time-limit for commencement of production or substantial expansion. 23/12/2002 to 31/03/07 7/01/03 to 31/12/12 Nature of article (if the undertaking is in an industrial zone) of relevant State.Y.Step 1: Find out the book value of P/M (before depreciation) as on the 1st day of the P.
plastic bags etc. [Refer Exceptions] . . 2007 and March 31.The taxpayer begins manufacture or production of goods or undertakes expansion during 2007-17. Provisions related to Adjustment of loss. of a business already in existence. . Any transfer of P/M to a new business is not allowed. [There are exceptions] . etc. 2010.The hotel is constructed and has started or starts functioning at any time during April 1.e.Audit report should be submitted along with the return.Audit report should be submitted along with the return. .Y. in which the convention centre starts operating on a commercial basis. in time.Y. deduction u/s is not available in respect of manufacture or production of tobacco. Initial A. 80 IE Certain undertakings in North-eastern States Conditions: .. or commences operation or completes substantial expansion.Convention centre Deduction: 100 % of profits are deductible for 5 consecutive years beginning from the initial A.Should not be found by splitting up. Any transfer of P/M to a new business is not allowed. of a business already in existence. [Refer Exceptions] . in time. relevant to the P.Aforesaid activity takes place in any North-eastern states i. .The aforesaid business is not formed by splitting-up. [There are exceptions] . for this purpose means the A. owning and operating a convention centre located in specified area. 08-09 . for this purpose means the A. he is engaged in the business of building. 80 ID Hotels and convention centre in NCR Conditions: .Y.Y.Taxpayer is engaged in the business of hotel located in a specified area. Computation of profit and the consequences of merger/demerger.Initial A. Deduction: .Y. Arunachal Pradesh.Y. 09-10) .2/3/4 star hotel . Assam. or reconstruction. in which the undertaking begins to manufacture or produce article or things. Manipur. or reconstruction. Specified area includes: the following from A.The machinery or plant used by this new business should also be new.Y. However. Alternatively.The machinery or plant used by this new business should also be new. relevant to the previous year in which the business of the hotel starts functioning or the P.Y. is same as that discussed earlier.2/3/4 star hotel at a World heritage site (from A. pan masasla.Y.
Y. relevant to the previous year in which the undertaking begins to manufactures or complete substantial expansion. [Substantial expansion means increase in the investment in P/M by atleast 25 % of the book value of P/M. (before taking depreciation in any year) as on the first day of the previous year in which the substantial expansion is undertaken.- 100 % of profit shall be deductible for 10 years beginning from the A.] Deductions from gross total income Section 80 C 80 CCA 80 CCB 80 CCC 80 D 80 DD 80 DDB 80 E 80 G 80 GG 80 GGA 80 GGB 80 GGC 80 IA 80 IB 80 IC 80 ID 80 IE 80 JJA 80 JJAA 80 L 80 LA 80 P 80 QQB 80 RRB 80 U Individual YES YES YES YES YES YES YES YES YES YES YES YES YES YES YES YES YES YES YES HUF YES YES YES YES YES YES YES YES YES YES YES YES YES Firms / AOP YES YES YES YES YES YES YES YES YES - .