Income Tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 February 2010
Please let me know what is the meaning of Hudbust.CBDT has issued notification [ SO 1269(E), dated 4-11-2003]specified some of the hudbust number in the state of Himanchal pradesh which are eligible for deduction under section 80IC? I have the detail of only plot number i,e Khasra Number. Pls advise
17 February 2010
Hudbust means Khasra Nos. including min/bata (shikmi) Nos.
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 February 2010
Not Clear
31 July 2024
**Hudbust** refers to areas designated for specific incentives or benefits under various government schemes or notifications. In the context of the Income Tax Act, particularly with reference to Section 80IC, the term “Hudbust” is related to areas eligible for tax benefits.
### **Section 80IC Overview:**
Section 80IC of the Income Tax Act provides deductions to certain businesses operating in specified areas, particularly in Himachal Pradesh and Uttarakhand, to encourage industrial growth in these regions. The deduction is available for businesses that meet certain criteria and are located in these designated areas.
### **Notification [SO 1269(E), dated 4-11-2003]:**
This notification issued by the Central Board of Direct Taxes (CBDT) specifies certain areas in Himachal Pradesh that are eligible for the benefits under Section 80IC. These areas are often referred to in terms of “Hudbust” numbers or plot numbers.
### **Understanding Hudbust Numbers and Plot Numbers:**
- **Hudbust Numbers**: These are specific numbers or codes assigned to particular areas or plots that qualify for benefits under Section 80IC. They are part of a list provided by the government indicating eligible locations.
- **Plot Numbers (Khasra Numbers)**: Khasra numbers are land records specific to a plot of land, often used in agricultural or property-related documentation.
### **How to Use Khasra Numbers for Eligibility:**
1. **Identify Eligibility**: Check if the Khasra number you have falls within the Hudbust numbers listed in the notification. The notification typically contains a list of eligible Hudbust numbers or specific areas, and you need to cross-reference the Khasra number with this list.
2. **Verify with Local Authorities**: Since you have only the Khasra number, you might need to consult local revenue or municipal authorities to verify if the Khasra number corresponds to an eligible Hudbust area. They can provide details on whether the plot falls within the eligible zones.
3. **Consult the Notification**: Review the specific notification [SO 1269(E)] issued by CBDT to understand the detailed list of eligible areas or Hudbust numbers. This document might be available on the official CBDT or Income Tax Department websites or through legal and taxation resources.
4. **Professional Advice**: Given the specifics of eligibility, consulting a tax professional or legal advisor can provide clarity and ensure compliance with the requirements for claiming deductions under Section 80IC.
### **Steps to Follow:**
1. **Obtain the Full Notification**: Access the full notification [SO 1269(E)] for detailed information on eligible Hudbust numbers.
2. **Cross-Check with Local Records**: Match your Khasra number with the details in local land records or revenue departments to confirm eligibility.
3. **Consult a Tax Professional**: For accurate application and compliance, seek guidance from a tax professional who can help in interpreting the notification and ensuring that your business or property qualifies for the deduction under Section 80IC.
By following these steps, you can determine if your property or business location is eligible for the deductions under Section 80IC based on the Hudbust number and associated notifications.
### **Section 80IC Overview:**
Section 80IC of the Income Tax Act provides deductions to certain businesses operating in specified areas, particularly in Himachal Pradesh and Uttarakhand, to encourage industrial growth in these regions. The deduction is available for businesses that meet certain criteria and are located in these designated areas.
### **Notification [SO 1269(E), dated 4-11-2003]:**
This notification issued by the Central Board of Direct Taxes (CBDT) specifies certain areas in Himachal Pradesh that are eligible for the benefits under Section 80IC. These areas are often referred to in terms of “Hudbust” numbers or plot numbers.
### **Understanding Hudbust Numbers and Plot Numbers:**
- **Hudbust Numbers**: These are specific numbers or codes assigned to particular areas or plots that qualify for benefits under Section 80IC. They are part of a list provided by the government indicating eligible locations.
- **Plot Numbers (Khasra Numbers)**: Khasra numbers are land records specific to a plot of land, often used in agricultural or property-related documentation.
### **How to Use Khasra Numbers for Eligibility:**
1. **Identify Eligibility**: Check if the Khasra number you have falls within the Hudbust numbers listed in the notification. The notification typically contains a list of eligible Hudbust numbers or specific areas, and you need to cross-reference the Khasra number with this list.
2. **Verify with Local Authorities**: Since you have only the Khasra number, you might need to consult local revenue or municipal authorities to verify if the Khasra number corresponds to an eligible Hudbust area. They can provide details on whether the plot falls within the eligible zones.
3. **Consult the Notification**: Review the specific notification [SO 1269(E)] issued by CBDT to understand the detailed list of eligible areas or Hudbust numbers. This document might be available on the official CBDT or Income Tax Department websites or through legal and taxation resources.
4. **Professional Advice**: Given the specifics of eligibility, consulting a tax professional or legal advisor can provide clarity and ensure compliance with the requirements for claiming deductions under Section 80IC.
### **Steps to Follow:**
1. **Obtain the Full Notification**: Access the full notification [SO 1269(E)] for detailed information on eligible Hudbust numbers.
2. **Cross-Check with Local Records**: Match your Khasra number with the details in local land records or revenue departments to confirm eligibility.
3. **Consult a Tax Professional**: For accurate application and compliance, seek guidance from a tax professional who can help in interpreting the notification and ensuring that your business or property qualifies for the deduction under Section 80IC.
By following these steps, you can determine if your property or business location is eligible for the deductions under Section 80IC based on the Hudbust number and associated notifications.
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