"17 March 2012" Archive - Page 13

Weighted deduction for expenditure incurred on agricultural extension project

Agricultural extension services play a critical role in enhancing the productivity in the agricultural sector. In order to incentivise the business entities to provide better and effective agriculture extensive services, it is proposed to insert a new provision in the Income-tax Act to allow weighted deduction of 150% of the expenditure i...

Read More
Posted Under: Income Tax |

Weighted deduction for scientific research and development available till A.Y. 2017-18

Under the existing provisions of Section 35(2AB) of the Income-tax Act, a company is allowed weighted deduction at the rate of 200% of expenditure (not being in the nature of cost of any land or building) incurred on approved in-house research and development facilities. These provisions are not applicable in respect of any expenditure in...

Read More
Posted Under: Income Tax |

Power sector allowed initial depreciation at 20% of actual cost of new machinery

In order to encourage new investment by the assessees engaged in the business of generation or generation and distribution of power, it is proposed to amend this section to provide that an assessee engaged in the business of generation or generation and distribution of power shall also be allowed initial depreciation at the rate of 20% ...

Read More
Posted Under: Income Tax |

Exemption to income of foreign company received in India in Indian currency from crude oil sale

It is proposed to insert a new clause (48) in section 10 of the Income-tax Act to provide for exemption in respect of any income of a foreign company received in India in Indian currency on account of sale of crude oil to any person in India subject to the following conditions: (i) The receipt of money is under an agreement or an arrange...

Read More
Posted Under: Income Tax |

Search Posts by Date

September 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930