June 2023

Section 80-IE, of Income Tax Act, 1961

Section 80-IE, of Income Tax Act, 1961

Special provisions in respect of certain undertakings in North-Eastern States (1) Where the gross total income of an assessee includes any profits and gains derived by an undertaking, to which this section applies, from any business referred to in sub-section (2), there shall be allowed, in computing the total income of the assessee, a deduction […]

Section 80-ID, of Income Tax Act, 1961

Section 80-ID, of Income Tax Act, 1961

Deduction in respect of profits and gains from business of hotels and convention centres in specified area (1) Where the gross total income of an assessee includes any profits and gains derived by an undertaking from any business referred to in sub-section (2) (such business being hereinafter referred to as the eligible business), there shall,

Section 80-IC, of Income Tax Act, 1961

Section 80-IC, of Income Tax Act, 1961

Special provisions in respect of certain undertakings or enterprises in certain special category States (1) Where the gross total income of an assessee includes any profits and gains derived by an undertaking or an enterprise from any business referred to in sub-section (2), there shall, in accordance with and subject to the provisions of this

Section 80-IBA, of Income Tax Act, 1961

Section 80-IBA, of Income Tax Act, 1961

Deductions in respect of profits and gains from housing projects (1) Where the gross total income of an assessee includes any profits and gains derived from the business of developing and building housing projects, there shall, subject to the provisions of this section, be allowed, a deduction of an amount equal to hundred per cent

Section 80-IB, of Income Tax Act, 1961

Section 80-IB, of Income Tax Act, 1961

Deduction in respect of profits and gains from certain industrial undertakings other than infrastructure development undertakings (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

Startup Tax Benefits: Section 80-IAC Extended Until 2030

Startup Tax Benefits Section 80-IAC Extended Until 2030

The Indian government has extended the tax benefits for startups under Section 80-IAC of the Income Tax Act, 1961. Previously, only startups incorporated between April 1, 2016, and March 31, 2024, could claim tax deductions under this section. However, with the Finance Bill 2025, this deadline has been extended to March 31, 2030. This means

Section 80-IAB, of Income Tax Act, 1961

Section 80-IAB, of Income Tax Act, 1961

Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone (1) Where the gross total income of an assessee, being a Developer, includes any profits and gains derived by an undertaking or an enterprise from any business of developing a Special Economic Zone, notified on or

Section 80-IA, of Income Tax Act, 1961

Section 80-IA, of Income Tax Act, 1961

Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc (1) Where the gross total income of an assessee includes any profits and gains derived by an undertaking or an enterprise from any business referred to in sub-section (4) (such business being hereinafter referred to as the eligible

Section 80-I of Income Tax Act, 1961

Section 80-I of Income Tax Act, 1961

Deduction in respect of profits and gains from industrial undertakings after a certain date, etc (1) Where the gross total income of an assessee includes any profits and gains derived from an industrial undertaking or a ship or the business of a hotel or the business of repairs to ocean-going vessels or other powered craft,

Section 80HHF of Income Tax Act, 1961

Section 80HHF of Income Tax Act, 1961

Deduction in respect of profits and gains from export or transfer of film software, etc (1) Where an assessee, being an Indian company or a person (other than a company) resident in India, is engaged in the business of export or transfer by any means out of India, of any film software, television software, music