Five-Year Tax Holiday To Hospitals At Certain Locations Sec. 80-1B (IIC)
[ Deductions Allowed to NRIs in the Computation of Total Income and Tax Payable]
The Finance Act 2008 has, w.e.f. the A.Y. 2009-20 10 made an amendment in Section 80-lB by inserting a new clause (11C) therein. The tax benefit of 5-year tax holiday would be extended to hospitals located anywhere in India otherwise than the excluded area, if the hospital is constructed and starts functioning between 1.4.2008 and 31.3.2013. It will be for five consecutive assessment years beginning from the initial assessment year. The excluded area would mean an area comprising the urban agglomeration of Greater Mumbai, Delhi, Kolkata, Chennai, Hyderabad, Bangalore and Ahmedabad, the districts of Faridabad, Gurgaon, Ghaziabad, Gautam Budh Nagar and Gandhinagar and the city of Secunderabad.
Deductions Allowed to NRIs in the Computation of Total Income and Tax Payable
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