Monday, March 16, 2020

Initial assessment year for claiming Section 80-IA deduction would be first year in which deduction is claimed

INCOME TAX : As per CBDT Circular No. 1/2016, dated 15-2-2016, term 'initial assessment year' in section 80-IA(5) would mean first year opted by assessee for claiming deduction under section 80-IA out of applicable slab and not first year of commencement/operation of eligible business

from www.taxmann.com Latest Case Laws https://ift.tt/2xKFPkp
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