Section 80-IB of Income Tax Act "Deduction in respect of profits and gains from certain industrial undertakings other than infrastructure development undertakings"
80-IB. (1) Where the gross total income of an assessee
includes any profits and gains derived from any business
referred to in sub-sections (3) to (11), (11A) and (11B)
(such business being hereinafter referred to as the eligible
business), there shall, in accordance with and subject to
the provisions of this section, be allowed, in computing the
total income of the assessee, a deduction from such profits
and gains of an amount equal to such percentage and for such
number of assessment years as specified in this section.
(2) This section applies to any industrial undertaking which
fulfils all the following conditions, namely :-
(i) it is not formed by splitting up, or the
reconstruction, of a business already in existence :
Provided that this condition shall not apply in respect of
an industrial undertaking which is formed as a result of the
re-establishment, reconstruction or revival by the assessee
of the business of any such industrial undertaking as is
referred to in section 33B, in the circumstances and within
the period specified in that section;
(ii) it is not formed by the transfer to a new business of
machinery or plant previously used for any purpose;
(iii) it manufactures or produces any article or thing, not
being any article or thing specified in the list in the
Eleventh Schedule, or operates one or more cold storage
plant or plants, in any part of India :
Provided that the condition in this clause shall, in
relation to a small scale industrial undertaking or an
industrial undertaking referred to in sub-section (4) shall
apply as if the words "not being any article or thing
specified in the list in the Eleventh Schedule" had been
omitted.
Explanation 1.-For the purposes of clause (ii), any
machinery or plant which was used outside India by any
person other than the assessee shall not be regarded as
machinery or plant previously used for any purpose, if the
following conditions are fulfilled, namely :-
(a) such machinery or plant was not, at any time previous to
the date of the installation by the assessee, used in India;
(b) such machinery or plant is imported into India from any
country outside India; and
(c) no deduction on account of depreciation in respect of
such machinery or plant has been allowed or is allowable
under the provisions of this Act in computing the total
income of any person for any period prior to the date of the
installation of the machinery or plant by the assessee.
Explanation 2.-Where in the case of an industrial
undertaking, any machinery or plant or any part thereof
previously used for any purpose is transferred to a new
business and the total value of the machinery or plant or
part so transferred does not exceed twenty per cent of the
total value of the machinery or plant used in the business,
then, for the purposes of clause (ii) of this sub-section,
the condition specified therein shall be deemed to have been
complied with;
(iv) in a case where the industrial undertaking manufactures
or produces articles or things, the undertaking employs ten
or more workers in a manufacturing process carried on with
the aid of power, or employs twenty or more workers in a
manufacturing process carried on without the aid of power.
(3) The amount of deduction in the case of an industrial
undertaking shall be twenty-five per cent (or thirty per
cent where the assessee is a company), of the profits and
gains derived from such industrial undertaking for a period
of ten consecutive assessment years (or twelve consecutive
assessment years where the assessee is a co-operative
society) beginning with the initial assessment year subject
to the fulfilment of the following conditions, namely :-
(i) it begins to manufacture or produce, articles or things
or to operate such plant or plants at any time during the
period beginning from the 1st day of April, 1991 and ending
on the 31st day of March, 1995 or such further period as the
Central Government may, by notification in the Official
Gazette, specify with reference to any particular
undertaking;
(ii) where it is an industrial undertaking being a small
scale industrial undertaking, it begins to manufacture or
produce articles or things or to operate its cold storage
plant [not specified in sub-section (4) or sub-section (5)]
at any time during the period beginning on the 1st day of
April, 1995 and ending on the 31st day of March, 2002.
(4) The amount of deduction in the case of an industrial
undertaking in an industrially backward State specified in
the Eighth Schedule shall be hundred per cent of the profits
and gains derived from such industrial undertaking for five
assessment years beginning with the initial assessment year
and thereafter twenty-five per cent (or thirty per cent
where the assessee is a company) of the profits and gains
derived from such industrial undertaking :
Provided that the total period of deduction does not exceed
ten consecutive assessment years (or twelve consecutive
assessment years where the assessee is a co-operative
society) subject to fulfilment of the condition that it
begins to manufacture or produce articles or things or to
operate its cold storage plant or plants during the period
beginning on the 1st day of April, 1993 and ending on the
31st day of March, 2004 :
Provided further that in the case of such industries in the
North-Eastern Region, as may be notified by the Central
Government, the amount of deduction shall be hundred per
cent of profits and gains for a period of ten assessment
years, and the total period of deduction shall in such a
case not exceed ten assessment years :
Provided also that no deduction under this sub-section shall
be allowed for the assessment year beginning on the 1st day
of April, 2004 or any subsequent year to any undertaking or
enterprise referred to in sub-section (2) of section 80-IC:
Provided also that in the case of an industrial undertaking
in the State of Jammu and Kashmir, the provisions of the
first proviso shall have effect as if for the figures,
letters and words "31st day of March, 2004", the figures,
letters and words "31st day of March, 2012" had been
substituted :
Provided also that no deduction under this sub-section shall
be allowed to an industrial undertaking in the State of
Jammu and Kashmir which is engaged in the manufacture or
production of any article or thing specified in Part C of
the Thirteenth Schedule.
(5) The amount of deduction in the case of an industrial
undertaking located in such industrially backward districts
as the Central Government may, having regard to the
prescribed guidelines, by notification in the Official
Gazette, specify in this behalf as industrially backward
district of category 'A' or an industrially backward
district of category 'B' shall be,-
(i) hundred per cent of the profits and gains derived from
an industrial undertaking located in a backward district of
category 'A' for five assessment years beginning with the
initial assessment year and thereafter, twenty-five per cent
(or thirty per cent where the assessee is a company) of the
profits and gains of an industrial undertaking :
Provided that the total period of deduction shall not exceed
ten consecutive assessment years or where the assessee is a
co-operative society, twelve consecutive assessment years :
Provided further that the industrial undertaking begins to
manufacture or produce articles or things or to operate its
cold storage plant or plants at any time during the period
beginning on the 1st day of October, 1994 and ending on the
31st day of March, 2004;
(ii) hundred per cent of the profits and gains derived from
an industrial undertaking located in a backward district of
category 'B' for three assessment years beginning with the
initial assessment year and thereafter, twenty-five per cent
(or thirty per cent where the assessee is a company) of the
profits and gains of an industrial undertaking :
Provided that the total period of deduction does not exceed
eight consecutive assessment years (or where the assessee is
a co-operative society, twelve consecutive assessment years)
:
Provided further that the industrial undertaking begins to
manufacture or produce articles or things or to operate its
cold storage plant or plants at any time during the period
beginning on the 1st day of October, 1994 and ending on the
31st day of March, 2004.
(6) The amount of deduction in the case of the business of a
ship shall be thirty per cent of the profits and gains
derived from such ship for a period of ten consecutive
assessment years including the initial assessment year
provided that the ship-
(i) is owned by an Indian company and is wholly used for the
purposes of the business carried on by it;
(ii) was not, previous to the date of its acquisition by the
Indian company, owned or used in Indian territorial waters
by a person resident in India; and
(iii) is brought into use by the Indian company at any time
during the period beginning on the 1st day of April, 1991
and ending on the 31st day of March, 1995.
(7) The amount of deduction in the case of any hotel shall
be-
(a) fifty per cent of the profits and gains derived from the
business of such hotel for a period of ten consecutive years
beginning from the initial assessment year as is located in
a hilly area or a rural area or a place of pilgrimage or
such other place as the Central Government may, having
regard to the need for development of infrastructure for
tourism in any place and other relevant considerations,
specify by notification in the Official Gazette and such
hotel starts functioning at any time during the period
beginning on the 1st day of April, 1990 and ending on the
31st day of March, 1994 or beginning on the 1st day of
April, 1997 and ending on the 31st day of March, 2001:
Provided that nothing contained in this clause shall apply
to a hotel located at a place within the municipal
jurisdiction (whether known as a municipality, municipal
corporation, notified area committee or a cantonment board
or by any other name) of Calcutta, Chennai, Delhi or Mumbai,
which has started or starts functioning on or after the 1st
day of April, 1997 and before the 31st day of March, 2001:
Provided further that the said hotel is approved by the
prescribed authority for the purpose of this clause in
accordance with the rules made under this Act and where the
said hotel is approved by the prescribed authority before
the 31st day of March, 1992, shall be deemed to have been
approved by the prescribed authority for the purpose of this
section in relation to the assessment year commencing on the
1st day of April, 1991;
(b) thirty per cent of the profits and gains derived from
the business of such hotel as is located in any place other
than those mentioned in sub-clause (a) for a period of ten
consecutive years beginning from the initial assessment year
if such hotel has started or starts functioning at any time
during the period beginning on the 1st day of April, 1991
and ending on the 31st day of March, 1995 or beginning on
the 1st day of April, 1997 and ending on the 31st day of
March, 2001:
Provided that nothing contained in this clause shall apply
to a hotel located at a place within the municipal
jurisdiction (whether known as a municipality, municipal
corporation, notified area committee, town area committee or
a cantonment board or by any other name) of Calcutta,
Chennai, Delhi or Mumbai, which has started or starts
functioning on or after the 1st day of April, 1997 and
before the 31st day of March, 2001;
(c) the deduction under clause (a) or clause (b) shall be
available only if-
(i) the business of the hotel is not formed by the splitting
up, or the reconstruction, of a business already in
existence or by the transfer to a new business of a building
previously used as a hotel or of any machinery or plant
previously used for any purpose;
(ii) the business of the hotel is owned and carried on by a
company registered in India with a paid-up capital of not
less than five hundred thousand rupees;
(iii) the hotel is for the time being approved by the
prescribed autho-rity:
Provided that any hotel approved by the prescribed authority
before the 1st day of April, 1999 shall be deemed to have
been approved under this sub-section.
(7A) The amount of deduction in the case of any multiplex
theatre shall be-
(a) fifty per cent of the profits and gains derived, from
the business of building, owning and operating a multiplex
theatre, for a period of five consecutive years beginning
from the initial assessment year in any place :
Provided that nothing contained in this clause shall apply
to a multiplex theatre located at a place within the
municipal jurisdiction (whether known as a municipality,
municipal corporation, notified area committee or a
cantonment board or by any other name) of Chennai, Delhi,
Mumbai or Kolkata;
(b) the deduction under clause (a) shall be allowable only
if-
(i) such multiplex theatre is constructed at any time during
the period beginning on the 1st day of April, 2002 and
ending on the 31st day of March, 2005;
(ii) the business of the multiplex theatre is not formed by
the splitting up, or the reconstruction, of a business
already in existence or by the transfer to a new business of
any building or of any machinery or of plant previously used
for any purpose;
33[(iii) the assessee furnishes the report of audit in such
form and containing such particulars, as may be prescribed,
duly signed and verified by an accountant, as defined in the
Explanation below sub-section (2) of section 288, before the
specified date referred to in section 44AB, certifying that
the deduction has been correctly claimed.]
(7B) The amount of deduction in the case of any convention
centre shall be-
(a) fifty per cent of the profits and gains derived, by the
assessee from the business of building, owning and operating
a convention centre, for a period of five consecutive years
beginning from the initial assessment year;
(b) the deduction under clause (a) shall be allowable only
if-
(i) such convention centre is constructed at any time during
the period beginning on the 1st day of April, 2002 and
ending on the 31st day of March, 2005;
(ii) the business of the convention centre is not formed by
the splitting up, or the reconstruction, of a business
already in existence or by the transfer to a new business of
any building or of any machinery or plant previously used
for any purpose;
34[(iii) the assessee furnishes the report of audit in such
form and containing such particulars, as may be prescribed,
duly signed and verified by an accountant, as defined in the
Explanation below sub-section (2) of section 288, before the
specified date referred to in section 44AB, certifying that
the deduction has been correctly claimed.]
(8) The amount of deduction in the case of any company
carrying on scientific research and development shall be
hundred per cent of the profits and gains of such business
for a period of five assessment years beginning from the
initial assessment year if such company-
(a) is registered in India;
(b) has the main object of scientific and industrial
research and development;
(c) is for the time being approved by the prescribed
authority at any time before the 1st day of April, 1999.
(8A) The amount of deduction in the case of any company
carrying on scientific research and development shall be
hundred per cent of the profits and gains of such business
for a period of ten consecutive assessment years, beginning
from the initial assessment year, if such company-
(i) is registered in India;
(ii) has its main object the scientific and industrial
research and development;
(iii) is for the time being approved by the prescribed
authority at any time after the 31st day of March, 2000 but
before the 1st day of April, 2007;
(iv) fulfils such other conditions as may be prescribed.
(9) The amount of deduction to an undertaking shall be
hundred per cent of the profits for a period of seven
consecutive assessment years, including the initial
assessment year, if such undertaking fulfils any of the
following, namely:-
(i) is located in North-Eastern Region and has begun or
begins commercial production of mineral oil before the 1st
day of April, 1997;
(ii) is located in any part of India and has begun or begins
commercial production of mineral oil on or after the 1st day
of April, 1997 but not later than the 31st day of March,
2017 :
Provided that the provisions of this clause shall not apply
to blocks licensed under a contract awarded after the 31st
day of March, 2011 under the New Exploration Licencing
Policy announced by the Government of India vide Resolution
No. O-19018/22/95-ONG.DO.VL, dated the 10th February, 1999
or in pursuance of any law for the time being in force or by
the Central or a State Government in any other manner;
(iii) is engaged in refining of mineral oil and begins such
refining on or after the 1st day of October, 1998 but not
later than the 31st day of March, 2012;
(iv) is engaged in commercial production of natural gas in
blocks licensed under the VIII Round of bidding for award of
exploration contracts (hereafter referred to as "NELP-VIII")
under the New Exploration Licencing Policy announced by the
Government of India vide Resolution No.
O-19018/22/95-ONG.DO.VL, dated 10th February, 1999 and
begins commercial production of natural gas on or after the
1st day of April, 2009 but not later than the 31st day of
March, 2017;
(v) is engaged in commercial production of natural gas in
blocks licensed under the IV Round of bidding for award of
exploration contracts for Coal Bed Methane blocks and begins
commercial production of natural gas on or after the 1st day
of April, 2009 but not later than the 31st day of March,
2017.
Explanation.-For the purposes of claiming deduction under
this sub-section, all blocks licensed under a single
contract, which has been awarded under the New Exploration
Licencing Policy announced by the Government of India vide
Resolution No. O-19018/22/95-ONG.DO.VL, dated 10th February,
1999 or has been awarded in pursuance of any law for the
time being in force or has been awarded by the Central or a
State Government in any other manner, shall be treated as a
single "undertaking".
(10) The amount of deduction in the case of an undertaking
developing and building housing projects approved before the
31st day of March, 2008 by a local authority shall be
hundred per cent of the profits derived in the previous year
relevant to any assessment year from such housing project
if,-
(a) such undertaking has commenced or commences development
and construction of the housing project on or after the 1st
day of October, 1998 and completes such construction,-
(i) in a case where a housing project has been approved by
the local authority before the 1st day of April, 2004, on or
before the 31st day of March, 2008;
(ii) in a case where a housing project has been, or, is
approved by the local authority on or after the 1st day of
April, 2004 but not later than the 31st day of March, 2005,
within four years from the end of the financial year in
which the housing project is approved by the local
authority;
(iii) in a case where a housing project has been approved by
the local authority on or after the 1st day of April, 2005,
within five years from the end of the financial year in
which the housing project is approved by the local
authority.
Explanation.-For the purposes of this clause,-
(i) in a case where the approval in respect of the housing
project is obtained more than once, such housing project
shall be deemed to have been approved on the date on which
the building plan of such housing project is first approved
by the local authority;
(ii) the date of completion of construction of the housing
project shall be taken to be the date on which the
completion certificate in respect of such housing project is
issued by the local authority;
(b) the project is on the size of a plot of land which has a
minimum area of one acre:
Provided that nothing contained in clause (a) or clause (b)
shall apply to a housing project carried out in accordance
with a scheme framed by the Central Government or a State
Government for reconstruction or redevelopment of existing
buildings in areas declared to be slum areas under any law
for the time being in force and such scheme is notified by
the Board in this behalf;
(c) the residential unit has a maximum built-up area of one
thousand square feet where such residential unit is situated
within the city of Delhi or Mumbai or within twenty-five
kilometres from the municipal limits of these cities and one
thousand and five hundred square feet at any other place;
(d) the built-up area of the shops and other commercial
establishments included in the housing project does not
exceed three per cent of the aggregate built-up area of the
housing project or five thousand square feet, whichever is
higher;
(e) not more than one residential unit in the housing
project is allotted to any person not being an individual;
and
(f) in a case where a residential unit in the housing
project is allotted to a person being an individual, no
other residential unit in such housing project is allotted
to any of the following persons, namely:-
(i) the individual or the spouse or the minor children of
such individual,
(ii) the Hindu undivided family in which such individual is
the karta,
(iii) any person representing such individual, the spouse or
the minor children of such individual or the Hindu undivided
family in which such individual is the karta.
Explanation.-For the removal of doubts, it is hereby
declared that nothing contained in this sub-section shall
apply to any undertaking which executes the housing project
as a works contract awarded by any person (including the
Central or State Government).
(11) Notwithstanding anything contained in clause (iii) of
sub-section (2) and sub-sections (3), (4) and (5), the
amount of deduction in a case of industrial undertaking
deriving profit from the business of setting up and
operating a cold chain facility for agricultural produce,
shall be hundred per cent of the profits and gains derived
from such industrial undertaking for five assessment years
beginning with the initial assessment year and thereafter,
twenty-five per cent (or thirty per cent where the assessee
is a company) of the profits and gains derived from the
operation of such facility in a manner that the total period
of deduction does not exceed ten consecutive assessment
years (or twelve consecutive assessment years where the
assessee is a co-operative society) and subject to
fulfilment of the condition that it begins to operate such
facility on or after the 1st day of April, 1999 but before
the 1st day of April, 2004.
(11A) The amount of deduction in a case of an undertaking
deriving profit from the business of processing,
preservation and packaging of fruits or vegetables or meat
and meat products or poultry or marine or dairy products or
from the integrated business of handling, storage and
transportation of foodgrains, shall be hundred per cent of
the profits and gains derived from such undertaking for five
assessment years beginning with the initial assessment year
and thereafter, twenty-five per cent (or thirty per cent
where the assessee is a company) of the profits and gains
derived from the operation of such business in a manner that
the total period of deduction does not exceed ten
consecutive assessment years and subject to fulfilment of
the condition that it begins to operate such business on or
after the 1st day of April, 2001:
Provided that the provisions of this section shall not apply
to an undertaking engaged in the business of processing,
preservation and packaging of meat or meat products or
poultry or marine or dairy products if it begins to operate
such business before the 1st day of April, 2009.
(11B) The amount of deduction in the case of an undertaking
deriving profits from the business of operating and
maintaining a hospital in a rural area shall be hundred per
cent of the profits and gains of such business for a period
of five consecutive assessment years, beginning with the
initial assessment year, if-
(i) such hospital is constructed at any time during the
period beginning on the 1st day of October, 2004 and ending
on the 31st day of March, 2008;
(ii) the hospital has at least one hundred beds for
patients;
(iii) the construction of the hospital is in accordance with
the regulations, for the time being in force, of the local
authority; and
35[(iv) the assessee furnishes the report of audit in such
form and containing such particulars, as may be prescribed,
duly signed and verified by an accountant, as defined in the
Explanation below sub-section (2) of section 288, before the
specified date referred to in section 44AB, certifying that
the deduction has been correctly claimed.]
Explanation.-For the purposes of this sub-section, a
hospital shall be deemed to have been constructed on the
date on which a completion certificate in respect of such
construction is issued by the concerned local authority.
(11C) The amount of deduction in the case of an undertaking
deriving profits from the business of operating and
maintaining a hospital located anywhere in India, other than
the excluded area, shall be hundred per cent of the profits
and gains derived from such business for a period of five
consecutive assessment years, beginning with the initial
assessment year, if-
(i) the hospital is constructed and has started or starts
functioning at any time during the period beginning on the
1st day of April, 2008 and ending on the 31st day of March,
2013;
(ii) the hospital has at least one hundred beds for
patients;
(iii) the construction of the hospital is in accordance with
the regulations or bye-laws of the local authority; and
36[(iv) the assessee furnishes the report of audit in such
form and containing such particulars, as may be prescribed,
duly signed and verified by an accountant, as defined in the
Explanation below sub-section (2) of section 288, before the
specified date referred to in section 44AB, certifying that
the deduction has been correctly claimed.]
Explanation.-For the purposes of this sub-section-
(a) a hospital shall be deemed to have been constructed on
the date on which a completion certificate in respect of
such construction is issued by the local authority
concerned;
(b) "initial assessment year" means the assessment year
relevant to the previous year in which the business of the
hospital starts functioning;
(c) "excluded area" shall mean an area comprising-
(i) Greater Mumbai urban agglomeration;
(ii) Delhi urban agglomeration;
(iii) Kolkata urban agglomeration;
(iv) Chennai urban agglomeration;
(v) Hyderabad urban agglomeration;
(vi) Bangalore urban agglomeration;
(vii) Ahmedabad urban agglomeration;
(viii) District of Faridabad;
(ix) District of Gurgaon;
(x) District of Gautam Budh Nagar;
(xi) District of Ghaziabad;
(xii) District of Gandhinagar; and
(xiii) City of Secunderabad;
(d) the area comprising an urban agglomeration shall be the
area included in such urban agglomeration on the basis of
the 2001 census.
(12) Where any undertaking of an Indian company which is
entitled to the deduction under this section is transferred,
before the expiry of the period specified in this section,
to another Indian company in a scheme of amalgamation or
demerger-
(a) no deduction shall be admissible under this section to
the amalgamating or the demerged company for the previous
year in which the amalgamation or the demerger takes place;
and
(b) the provisions of this section shall, as far as may be,
apply to the amalgamated or the resulting company as they
would have applied to the amalgamating or the demerged
company if the amalgamation or demerger had not taken place.
(13) The provisions contained in sub-section (5) and
sub-sections (7) to (12) of section 80-IA shall, so far as
may be, apply to the eligible business under this section.
(14) For the purposes of this section,-
(a) "built-up area" means the inner measurements of the
residential unit at the floor level, including the
projections and balconies, as increased by the thickness of
the walls but does not include the common areas shared with
other residential units;
(aa) "cold chain facility" means a chain of facilities for
storage or transportation of agricultural produce under
scientifically controlled conditions including refrigeration
and other facilities necessary for the preservation of such
produce;
(ab) "convention centre" means a building of a prescribed
area comprising of convention halls to be used for the
purpose of holding conferences and seminars, being of such
size and number and having such other facilities and
amenities, as may be prescribed;
(b) "hilly area" means any area located at a height of one
thousand metres or more above the sea level;
(c) "initial assessment year"-
(i) in the case of an industrial undertaking or cold storage
plant or ship or hotel, means the assessment year relevant
to the previous year in which the industrial undertaking
begins to manufacture or produce articles or things, or to
operate its cold storage plant or plants or the cold chain
facility or the ship is first brought into use or the
business of the hotel starts functioning;
(ii) in the case of a company carrying on scientific and
industrial research and development, means the assessment
year relevant to the previous year in which the company is
approved by the prescribed authority for the purposes of
sub-section (8);
(iii) in the case of an undertaking engaged in the business
of commercial production or refining of mineral oil referred
to in sub-section (9), means the assessment year relevant to
the previous year in which the undertaking commences the
commercial production or refining of mineral oil;
(iv) in the case of an undertaking engaged in the business
of processing, preservation and packaging of fruits or
vegetables or in the integrated business of handling,
storage and transportation of foodgrains, means the
assessment year relevant to the previous year in which the
undertaking begins such business;
(v) in the case of a multiplex theatre, means the assessment
year relevant to the previous year in which a cinema hall,
being a part of the said multiplex theatre, starts operating
on a commercial basis;
(vi) in the case of a convention centre, means the
assessment year relevant to the previous year in which the
convention centre starts operating on a commercial basis;
(vii) in the case of an undertaking engaged in operating and
maintaining a hospital in a rural area, means the assessment
year relevant to the previous year in which the undertaking
begins to provide medical services;
(d) "North-Eastern Region" means the region comprising the
States of Arunachal Pradesh, Assam, Manipur, Meghalaya,
Mizoram, Nagaland, Sikkim and Tripura;
(da) "multiplex theatre" means a building of a prescribed
area, comprising of two or more cinema theatres and
commercial shops of such size and number and having such
other facilities and amenities as may be prescribed;
(e) "place of pilgrimage" means a place where any temple,
mosque, gurdwara, church or other place of public worship of
renown throughout any State or States is situated;
(f) "rural area" means any area other than-
(i) an area which is comprised within the jurisdiction of a
municipality (whether known as a municipality, municipal
corporation, notified area committee, town area committee or
by any other name) or a cantonment board and which has a
population of not less than ten thousand according to the
preceding census of which relevant figures have been
published before the first day of the previous year; or
(ii) an area within such distance not being more than
fifteen kilometres from the local limits of any municipality
or cantonment board referred to in sub-clause (i), as the
Central Government may, having regard to the stage of
development of such area including the extent of, and scope
for, urbanisation of such area and other relevant
considerations specify in this behalf by notification in the
Official Gazette;
(g) "small-scale industrial undertaking" means an industrial
undertaking which is, as on the last day of the previous
year, regarded as a small-scale industrial undertaking under
section 11B of the Industries (Development and Regulation)
Act, 1951 (65 of 1951).
Section 80IAC Special provision in respect of specified business
What is Deduction in respect of income of co-operative societies? Section 80P of Income Tax Act 1961
What is Deduction in respect of royalty on patents? Section 80RRB of Income Tax Act 1961
What is Deduction in case of a person with disability? Section 80U of Income Tax Act 1961