Income Tax Act , 1961
Whether transport subsidy receipts are eligible for deduction U/s 80I.......
Asked on 5/26/09, 7:15 am
1 Answer from Attorneys
Rohini Kumar Tenneti
R.K.1080 LEGAL SERVICES
Re: Income Tax Act , 1961
Which deduction you are questioning about the deduction you mentioned is for industrial undertakings,ships put into use for the first time and the business of a hotel starts functioning.This section provides for 20% of deduction from the total income which is taxable.
Answered on 5/27/09, 4:40 am
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