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« Various Acts & Rules »
 Customs Tariff 2009-10 - PART-II - Chapter 98 - Project imports, Laboratory chemicals, passenger's baggage
 Customs Tariff 2009-10 - PART-II - Chapter 97 - Works of art, collectors' pieces and antiques
 Customs Tariff 2009-10 - PART-II - Chapter 96 - Miscellaneous manufactured articles
 Customs Tariff 2009-10 - PART-II - Chapter 95 - Toys, games and sports requisites; parts and accessories thereof
 Customs Tariff 2009-10 - PART-II - Chapter 94 - Furniture; bedding, mattresses, mattress supports
 Customs Tariff 2009-10 - PART-II - Chapter 93 - Arms and ammunition; parts and accessories thereof
 Customs Tariff 2009-10 - PART-II - Chapter 92 - Musical instruments; parts and accessories of such articles
 Customs Tariff 2009-10 - PART-II - Chapter 91 - Clocks and watches and parts thereof
 Customs Tariff 2009-10 - PART-II - Chapter 90 - Optical, photographic, cinematographic, measuring
 Customs Tariff 2009-10 - PART-II - Chapter 89 - Ships, boats and floating structures
 Customs Tariff 2009-10 - PART-II - Chapter 88 - Aircraft, spacecraft, and parts thereof

Finance Act - Chapter III - 10 Amendment of section 35AD
June, 21st 2010

Amendment of section 35AD.

10. In section 35AD of the Income-tax Act,

          (a)  in sub-section (2), in clause (iii), in sub-clause (c), for the words one-third of its total pipeline capacity, the words, brackets and figures such proportion of its total pipeline capacity as specified by regulations made by the Petroleum and Natural Gas Regulatory Board established under sub-section (1) of section 3 of the Petroleum and Natural Gas Regulatory Board Act, 2006 (19 of 2006) shall be substituted;

          (b)  for sub-section (3), the following sub-section shall be substituted with effect from the 1st day of April, 2011, namely:

                  (3) Where a deduction under this section is claimed and allowed in respect of the specified business for any assessment year, no deduction shall be allowed under the provisions of Chapter VI-A under the heading C.Deductions in respect of certain incomes in relation to such specified business for the same or any other assessment year.;

           (c)  in sub-section (5), with effect from the 1st day of April, 2011,

       (i)  in clause (a), the word and, occurring at the end, shall be omitted;

     (ii)  after clause (a), the following clauses shall be inserted, namely :

      (aa)  on or after the 1st day of April, 2010, where the specified business is in the nature of building and operating a new hotel of two-star or above category as classified by the Central Government;

        (ab)  on or after the 1st day of April, 2010, where the specified business is in the nature of building and operating a new hospital with at least one hundred beds for patients;

        (ac)  on or after the 1st day of April, 2010, where the specified business is in the nature of developing and building a housing project under a scheme for slum redevelopment or rehabilitation framed by the Central Government or a State Government, as the case may be, and which is notified by the Board in this behalf in accordance with guidelines as may be prescribed; and;

    (iii)  in clause (b), for the word, brackets and letter clause (a), the words, brackets and letters clause (a), clause (aa), clause (ab) and clause (ac) shall be substituted;

          (d)  in sub-section (8), in clause (c), after sub-clause (iii), the following sub-clauses shall be inserted with effect from the 1st day of April, 2011, namely :

   (iv)  building and operating, anywhere in India, a new hotel of two-star or above category as classified by the Central Government;

      (v)  building and operating, anywhere in India, a new hospital with at least one hundred beds for patients;

     (vi)  developing and building a housing project under a scheme for slum redevelopment or rehabilitation framed by the Central Government or a State Government, as the case may be, and notified by the Board in this behalf in accordance with the guidelines as may be prescribed;.

 
 
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