first time defination of manufactering as per income tax act
This query is : Resolved
madhur gupta
(Querist)
13 December 2009
hello friendz
i have come to know that a new definition of manufacturing has been introduced by income tax first time in budget 2009
plz explain me this definition.
as one of our client wants to take exemption under sec.80IC and for this we need that its product must come under defination of mfg.
plz explain it with examples and interpretations also,if possible.
thankx
i have come to know that a new definition of manufacturing has been introduced by income tax first time in budget 2009
plz explain me this definition.
as one of our client wants to take exemption under sec.80IC and for this we need that its product must come under defination of mfg.
plz explain it with examples and interpretations also,if possible.
thankx
CA.Tarun Maheshwari
(Expert)
13 December 2009
Its difficult to explain the term 'manufacturing' with examples. Better to take help of definition as per excise act. It differes from case to case. If you look at first sight at the definition, it will seem that any small change will result into the manufacturing. I am also handling 3-4 cases of 80IC, and for each case, I was to do lot many research on its coverage in manufacturing definition. So better to research on it deeply, because its a sensitive matter as it is covered in section 80IC, the fully tax exemption provisions.
Murtaza I Bhagat
(Expert)
14 December 2009
Its a huge Defination different from case to case as per Tarun sir. you have to explain you client case to get advice/reply.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Capital gains in IT returns
- Form 144 TDS Return Validation Error – Mandatory Fields
- LLP audit and disclosure
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Capital Gains Tax on Inherited Mutual Fund
- Advances to related party
- Form 144 TDS Return Validation error
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Ito add credit side of bank
- Employee secondment
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
