80 IA Deduction

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Aadesh Bora (Querist)
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23 December 2008 Whether a company entitled for deduction u/s 80IA can claim the same if it shows the rent income from leased property under House Property Income and not under Profits & Gains from Business and Profession??

CA Mani

CA Mani (Expert)
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24 December 2008 Hi,

Sec.80IA reads as follows:

80IA(4) This section applies to

(i) any enterprise carrying on the business 7[of (i) developing or (ii) operating and maintaining or (iii) developing, operating and maintaining] any infrastructure facility which fulfils all the following conditions.

So. focus is on developing activities and not lease activities.

hence, no ded for lease rental income.

Ded is only for PG from developing activities.

Hope, it's clear.