Income tax examption

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Nitish jain (Querist)
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19 April 2012 We want to start one CA store (Cold Store) in the month of April 2012. whether any income tax examption U/s 80IA, IB or IC or any other section is available.

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Nitish

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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19 April 2012 Yes profits are deductible to the extent of 100% for the first 5 years and thereafter 25%(30% in the case of a company) for the next five years. You are requested to check the provisions of Section 80-IB(11A).

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