India - Income Tax Act 2010 - Saarc

1.479 CH. VIA - DEDUCTIONS IN RESPECT OF CERTAIN INCOMES S. 80-IC(f) “rural area” means any area other than—(i) an area which is comprised within the jurisdiction of a municipality(whether known as a municipality, municipal corporation,notified area committee, town area committee or by any othername) or a cantonment board and which has a population of notless than ten thousand according to the preceding census ofwhich relevant figures have been published before the first dayof the previous year; or(ii) an area within such distance not being more than fifteen kilometresfrom the local limits of any municipality or cantonment boardreferred to in sub-clause (i), as the Central Government may,having regard to the stage of development of such area includingthe extent of, and scope for, urbanisation of such area and otherrelevant considerations specify in this behalf by notification inthe Official Gazette 87 ;(g) “small-scale industrial undertaking” means an industrial undertakingwhich is, as on the last day of the previous year, regarded as a smallscaleindustrial undertaking under section 11B 88 of the Industries(Development and Regulation) Act, 1951 (65 of 1951).]89[Special provisions in respect of certain undertakings or enterprises in certainspecial category States 90 .80-IC. (1) Where the gross total income of an assessee includes any profits andgains derived by an undertaking or an enterprise from any businessreferred to in sub-section (2), there shall, in accordance with and subject to theprovisions of this section, be allowed, in computing the total income of theassessee, a deduction from such profits and gains, as specified in sub-section (3).(2) This section applies to any undertaking or enterprise,—(a) which has begun or begins to manufacture or produce any article orthing, not being any article or thing specified in the ThirteenthSchedule, or which manufactures or produces any article or thing,not being any article or thing specified in the Thirteenth Schedule andundertakes substantial expansion during the period beginning—87. For notified areas falling outside local limits of municipality or cantonment board, seeTaxmann’s Master Guide to Income-tax Act.88. For the text of section 11B of the Industries (Development & Regulation) Act, 1951, seeAppendix.89. Inserted by the Finance Act, 2003, w.e.f. 1-4-2004.90. Notified Centre/Park/Areas, etc., u/s 80-IC(2)—• Sikkim [Notification No. SO 169(E), dated 6-2-2004, as corrected by Notification No.55/2004 [F. No. 142/35/2003-TPL], dated 19-2-2004].• Assam, Tripura, Meghalaya, Mizoram, Nagaland, Manipur, Arunachal Pradesh -Notification No. 116/2004 [F. No. 142/49/2003-TPL], dated 26-3-2004.• Uttaranchal - Notification No. SO 741(E), dated 28-6-2004, as amended by NotificationNo. 283/2006 [F. No. 142/30/2005-TPL], dated 3-10-2006.• Himachal Pradesh - Notification No. SO 1269(E), dated 4-11-2003, as amended by,Notification No. SO 2215(E), dated 27-8-2008.