Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: cpt :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: Central Excise rule to resale the machines to a new company :: empanelment :: VAT Audit :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: due date for vat payment :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: list of goods taxed at 4%
 
 
From the Courts »
 M/s Fiberfill Engineers Vs. Deputy Commissioner Of Income Tax
 Commissioner Of Income Tax, Del Vs. Mrs. Tara Sinha
 Unitech Wireless (Tamil Nadu) Pvt. Ltd. Vs. Principal Commissioner Of Income Tax, New Delhi & Ors.
 Pr. Commissioner Of Income Tax – 3 Vs. Delhi State Industrial Infrastructure Development Corp. Ltd.
 CIT vs. D. K. Garg (Delhi High Court)
 The Citizens Cooperative Society Ltd vs. ACIT (Supreme Court)
 Digipro Import & Export Pvt. Ltd vs. UOI (Delhi High Court)
  CIT vs. Hindustan Petroleum Corporation Ltd (Supreme Court)
  DCIT vs. Hita Land Private Limited (ITAT Mumbai)
 GTC Industries Limited vs. ACIT (ITAT Mumbai) (Special Bench)
 Premlata Purshottam Paldiwal vs. CIT (Bombay High Court)

The provisions of the Income-tax Act 1961 have been amended through Finance Act 2015 to provide certain tax benefits to notified backward areas in specified States including State of Bihar
August, 21st 2015
                            PRESS INFORMATION BUREAU
                              GOVERNMENT OF INDIA
                                      *******


     INCOME-TAX ACT 1961 AMENDED THROUGH FINANCE ACT 2015 TO
   PROVIDE CERTAIN TAX BENEFITS TO NOTIFIED BACKWARD AREAS IN
SPECIFIED STATES INCLUDING STATE OF BIHAR TO GIVE THESE AREAS AN
  OPPORTUNITY TO GROW FASTER;21 DISTRICTS OF BIHAR NOTIFIED AS
       BACKWARD AREAS; ANY MANUFACTURING UNDERTAKING OR
 ENTERPRISE SET-UP DURING THE PERIOD FROM 01.04.2015 TO 31.03.2020 IN
  THE AFORESAID BACKWARD AREAS OF BIHAR WILL BE ELIGIBLE FOR
  15% ADDITIONAL DEPRECIATION AND 15% INVESTMENT ALLOWANCE
 UNDER THE INCOME-TAX ACT, ON THE COST OF PLANT AND MACHINERY
  ACQUIRED AND INSTALLED BY IT DURING THE SAID PERIOD

                                                                New Delhi, August 19, 2015
                                                                        Shravana 28, 1937

       The provisions of the Income-tax Act 1961 have been amended through Finance Act
2015 to provide certain tax benefits to notified backward areas in specified States including
State of Bihar to give these areas an opportunity to grow faster. To give effect to the
amendment, the following 21 districts of Bihar have been notified as Backward Areas vide
Notification No. S.O. 2241(E) dated 17.08.2015:




       1.     Patna
       2.     Nalanda
       3.     Bhojpur
       4.     Rohtas
       5.     Kaimur
       6.     Gaya
       7.     Jehanabad
       8.     Aurangabad
       9.     Nawada
       10.    Vaishali
       11.    Sheohar
       12.    Samastipur
       13.    Darbhanga
       14.    Madhubani
       15.    Purnea
       16.    Katihar
       17.    Araria
       18.    Jamui
       19.    Lakhisarai
       20.    Supaul
       21.    Muzaffarpur



        
Any manufacturing undertaking or enterprise set-up during the period from 01.04.2015 to 31.03.2020 in the aforesaid backward areas of Bihar will be eligible for 15% additional depreciation under Section 32(1)(iia) and 15% investment allowance under Section 32AD of the Income-tax Act, on the cost of plant and machinery acquired and installed by it during the said period. The aforesaid incentives are in addition to other tax benefits available under the Income-tax Act. Thus a manufacturing undertaking/enterprise set up in any of these areas during the aforesaid period will be eligible for 35% (instead of 20%) of additional depreciation. This would be over and above the normal depreciation of 15%. Besides, a company engaged in manufacturing will also be eligible for 30% (instead of 15%) of investment allowance if its investment in new plant and machinery during the period 1.4.2015 to 31.3.2017 exceeds Rs.25 crore. Notification No. S.O. 2241(E) dated 17.08.2015 to this effect is available on the website www.incometaxindia.gov.in. *****
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions