Please Help: Section 80-IC
Posted Date : 04-Mar-2012 , 10:15:49 am | Posted By Prashant Chaudhary
A company has availed 100% deduction u/s 80-IC for 5 years there after it undertook substantial expansion. Can the company continue to avail 100% deduction for another 5 years. 80-IC only states that deduction under this section can be availed for max 10 yrs but it is silent about the whether 100% deduction can be availed for 5 yrs only or for 10 yrs
Category : Income Tax | Answers : 0 | Comments : 1 | Hits : 552
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Vikas Kumar
04-Mar-2012 , 03:54:35 pmNo A Company can avail 100% deduction u/s 80-IC for 5 years.it cannot availed again 100% deduction under this section..after 5 years a company can availd only 30% deducion for next 5 years.