India - Income Tax Act 2010 - Saarc

1.487 CH. VIA - DEDUCTIONS IN RESPECT OF CERTAIN INCOMES S. 80JJAADeduction in respect of profits and gains from business of poultry farming.80JJ. 4[Omitted by the Finance Act, 1997, w.e.f. 1-4-1998.]5[Deduction in respect of profits and gains from business of collecting andprocessing of bio-degradable waste.80JJA. Where the gross total income of an assessee includes any profits andgains derived from the business of collecting and processing or treatingof bio-degradable waste for generating power 6 [or producing bio-fertilizers, biopesticidesor other biological agents or for producing bio-gas or] making pelletsor briquettes for fuel or organic manure, there shall be allowed, in computing thetotal income of the assessee, 7 [a deduction of an amount equal to the whole ofsuch profits and gains for a period of five consecutive assessment yearsbeginning with the assessment year relevant to the previous year in which suchbusiness commences].]8[Deduction in respect of employment of new workmen.80JJAA. (1) Where the gross total income of an assessee, being an Indiancompany, includes any profits and gains derived from any industrialundertaking engaged in the manufacture or production of article or thing, thereshall, subject to the conditions specified in sub-section (2), be allowed a deductionof an amount equal to thirty per cent of additional wages paid to the new regularworkmen employed by the assessee in the previous year for three assessmentyears including the assessment year relevant to the previous year in which suchemployment is provided.(2) No deduction under sub-section (1) shall be allowed—(a) if the industrial undertaking is formed by splitting up or reconstructionof an existing undertaking or amalgamation with another industrialundertaking;(b) unless the assessee furnishes along with the return of income thereport of the accountant, as defined in the Explanation below subsection(2) of section 288 giving such particulars in the report as maybe prescribed 9 .4. Prior to its omission, section 80JJ was inserted by the Finance Act, 1989, w.e.f. 1-4-1990.Earlier section 80JJ was inserted by the Finance Act, 1975, w.e.f. 1-4-1976, amended by theFinance (No. 2) Act, 1980, w.e.f. 1-4-1981 and the Finance Act, 1983, w.e.f. 1-4-1984 and lateron omitted by the Finance Act, 1985, w.e.f. 1-4-1986.5. Inserted by the Finance (No. 2) Act, 1998, w.e.f. 1-4-1999. Earlier section 80JJA was insertedby the Finance Act, 1979, w.e.f. 1-4-1980 and later on omitted by the Finance Act, 1983,w.e.f. 1-4-1984.6. Substituted for “, producing bio-gas,” by the Finance Act, 1999, w.e.f. 1-4-2000.7. Substituted for “a deduction from such profits and gains of an amount equal to the wholeof such income, or five lakh rupees, whichever is less” by the Finance Act, 1999, w.e.f.1-4-2000.8. Inserted by the Finance (No. 2) Act, 1998, w.e.f. 1-4-1999.9. See rule 19AB and Form No. 10DA for form of report. Rule 12 provides that the return ofincome shall not be accompanied by any document or copy of any account or form orreport of audit required to be attached with return of income under any of the provisionsof the Act.