Section 80JJAA

80JJAA: Deduction in respect of employment of new employees

Income Tax - As the IT Return due date is near for A.Y 2017-18 now everyone is looking for tax saving by various section. Here is the option to claim additional expense that to without any additional investment of 30% for new employee’s u/s 80JJA of IT Act. This purpose behind this section is to employment generation across all sectors....

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Section 80JJAA: Tax incentive for employment generation

Income Tax - The existing provisions of Section 80JJAA provide for a deduction of thirty percent of additional wages paid to new regular workmen in a factory for three years. The provisions apply to the business of manufacture of goods in a factory where 'workmen' are employed for not less than three hundred days in a previous year. ...

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Sec. 80JJAA Deduction extended to Non Company Assessees

Income Tax - Budget 2015-16 Deduction for employment of new workmen extended to benefit to all assessees having manufacturing units instead of only corporate assessees.  Further, in order to enable the smaller units to claim this incentive, it is proposed to extend the benefit under the section to units employing even 50 instead of 100 regular workme...

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S. 80JJAA Deduction only to Indian Company deriving profits from manufacture of goods in its factory

Income Tax - The existing provisions contained in section 80JJAA of the Income-tax Act provide for a deduction of an amount equal to thirty per cent of additional wages paid to the new regular workmen employed in any previous year by an Indian company in its industrial undertaking engaged in manufacture or production of article or thing. The […...

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CBDT notifies revised audit report format for claiming deduction U/s. 80JJAA

Notification No. 26/2017-Income TAx - (03/04/2017) - Rule 19AB. Form of report for claiming deduction under section 80JJAA. Report of an accountant which is required to be furnished by the assessee along with the return of income under clause (c) of sub-section (2) of section 80JJAA shall be in Form No. 10DA....

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Recent Posts in "Section 80JJAA"

80JJAA: Deduction in respect of employment of new employees

As the IT Return due date is near for A.Y 2017-18 now everyone is looking for tax saving by various section. Here is the option to claim additional expense that to without any additional investment of 30% for new employee’s u/s 80JJA of IT Act. This purpose behind this section is to employment generation across all sectors....

Read More
Posted Under: Income Tax |

CBDT notifies revised audit report format for claiming deduction U/s. 80JJAA

Notification No. 26/2017-Income TAx (03/04/2017)

Rule 19AB. Form of report for claiming deduction under section 80JJAA. Report of an accountant which is required to be furnished by the assessee along with the return of income under clause (c) of sub-section (2) of section 80JJAA shall be in Form No. 10DA....

Read More

Section 80JJAA: Tax incentive for employment generation

The existing provisions of Section 80JJAA provide for a deduction of thirty percent of additional wages paid to new regular workmen in a factory for three years. The provisions apply to the business of manufacture of goods in a factory where 'workmen' are employed for not less than three hundred days in a previous year. ...

Read More
Posted Under: Income Tax |

Sec. 80JJAA Deduction extended to Non Company Assessees

Budget 2015-16 Deduction for employment of new workmen extended to benefit to all assessees having manufacturing units instead of only corporate assessees.  Further, in order to enable the smaller units to claim this incentive, it is proposed to extend the benefit under the section to units employing even 50 instead of 100 regular workme...

Read More
Posted Under: Income Tax |

S. 80JJAA Deduction only to Indian Company deriving profits from manufacture of goods in its factory

The existing provisions contained in section 80JJAA of the Income-tax Act provide for a deduction of an amount equal to thirty per cent of additional wages paid to the new regular workmen employed in any previous year by an Indian company in its industrial undertaking engaged in manufacture or production of article or thing. The […...

Read More
Posted Under: Income Tax |

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