Profits from windmill power generator
This query is : Resolved
24 March 2012
Mr A , an asseseee had set up an windmill unit in the year March 2007. Till now he has not paid any tax due to carry forward of depreciation lossess.
However from the current year he will be showing good profits. Can he claim exemption u/s 80ia for a period of ten years.
Please reply.
However from the current year he will be showing good profits. Can he claim exemption u/s 80ia for a period of ten years.
Please reply.
24 March 2012
YES DEDUCTION CAN BE CLAIMED UNDER SECTION 80-IA THE DEDUCTION CAN BE CLIMED FOR 10 YEARS OUT OF FIFTEEN YERAS FM THE YEAR IN WHICH IT STARTED GENERATING POWER
CA MANOJ GUPTA
JODHPUR
09828510543
CA MANOJ GUPTA
JODHPUR
09828510543
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