Vinoth Babu.R. (Proprietor) (49 Points)
12 February 2010I have read the ruling under Sec 80 IA which states that any organisation that installs any power generation facility before 31.3.2010, can avail the 100% tax holiday for 10 years out of 15 years. Has this been extended? It would suit me if it is extended further.
Could someone give me the correct ruling at the moment/
Regards
Vinoth.
Anumanchipalli Sathikonda
(Tax Consultant)
(1559 Points)
Replied 15 February 2010
Mr.Vinoth Babu. R
Please refer section 80A(4)(iv)(a). I am reproducing the said clause hereunder:
(iv) an undertaking which-
(a) is set up in any part of India for the generation or generation and distribution of power if it begins to generate power at any time during the yer period beginning on the 1st day of April, 1993 and ending on the 31st day of March , 2011.
The above clause has been amended by Finance (No.2) Act, 2009.
Best Wishes
Sathikonda
CAclubindia
