India - Income Tax Act 2010 - Saarc

1.453 CH. VIA - DEDUCTIONS IN RESPECT OF CERTAIN INCOMES S. 80-IA(Contd. from p. 1.452)(b) in the case of an industrial undertaking referred to in sub-clause (b) or subclause(c) of clause (iv) of sub-section (2), hundred per cent of the profits and gainsderived from such industrial undertaking for the initial five assessment years andthereafter twenty-five per cent of the profits and gains derived from such industrialundertaking :Provided that where the assessee is a company, the provisions of this clause shallhave effect as if for the words “twenty-five per cent”, the words “thirty per cent” hadbeen substituted :Provided further that in case of an industrial undertaking located in an industriallybackward district of Category B, the provisions of this clause shall have effect as iffor the words “five assessment years”, the words “three assessment years” had beensubstituted;(ia) in the case of an enterprise referred to in sub-section (4A), hundred per cent of theprofits and gains derived from such business for the initial five assessment yearsand thereafter, thirty per cent of such profits and gains;(ib) in the case of a company referred to in sub-section (4B), hundred per cent of theprofits and gains derived from such business;(ic) in the case of an undertaking referred to in sub-section (4C), hundred per cent ofthe profits and gains derived from such business for the initial five assessment yearsand thereafter, twenty-five per cent of the profits and gains derived from suchbusiness :Provided that where the assessee is a company, the provisions of this clause shallhave effect as if for the words “twenty-five per cent”, the words “thirty per cent” hadbeen substituted;(id) in the case of an industrial park referred to in sub-section (4D), hundred per centof the profits and gains derived from such business for the initial five assessmentyears and thereafter, twenty-five per cent of the profits and gains derived from suchbusiness :Provided that where the assessee is a company, the provisions of this clause shallhave effect as if for the words “twenty-five per cent”, the words “thirty per cent” hadbeen substituted;(ii) in the case of a hotel referred to in clause (iii) of sub-section (4), fifty per cent of theprofits and gains derived from the business of such hotel :Provided that the said hotel is approved by the prescribed authority for the purposeof this clause in accordance with the rules made under this Act :Provided further that the said hotel approved by the prescribed authority before the31st day of March, 1992, shall be deemed to have been approved by the prescribedauthority for the purposes of this section in relation to the assessment yearcommencing on the 1st day of April, 1991;(iia) in the case of a hotel referred to in clause (iiia) of sub-section (4), fifty per cent ofthe profits and gains derived from the business of such hotel :Provided that the said hotel is approved by the prescribed authority for thepurposes of this clause in accordance with the rules made under this Act;(iii) in the case of a hotel referred to in clause (iv) or clause (iva) of sub-section (4), thirtyper cent of the profits and gains derived from the business of such hotel;(iv) in the case of a ship, thirty per cent of the profits and gains derived from such ship;(v) in the case of undertaking referred to in sub-section (4E) hundred per cent of profitsand gains derived from such business for the initial seven assessment years;(vi) in the case of a housing project referred to in sub-section (4F), hundred per cent ofprofits and gains derived from such business.(6) The number of assessment years referred to in sub-section (1) shall, including the initialassessment year, be—(Contd. on p. 1.454)