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June 2014

Eligibility of deduction u/s. 801A for the unexpired period – Circular No. 10 dated 6th May, 2014 [F. No. 178/84/2012/ITA.I]

By Pinky Shah, Sonalee Godbole, Chartered Accountants
Reading Time 1 mins
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When an enterprise or undertaking develops an infrastructure facility, industrial park or Special Economic Zone, as the also may be, and transfers it to another enterprise or undertaking for operation and maintenance in accordance with the proviso to Clause (i) or Clause (iii) of s/s. (4) of section 80-1A of the Act and if this transfer is not by way of amalgamation or demerger, the transferee shall be eligible for the deduction for the unexpired period.

Amended Form 49A and 49AA notified – Notification No. 26 dated 16th May, 2014 [S.O.2045(E)] – Income-tax (5th Amendment) Rules, 2014 – The amended form gives an option to the applicant to get his mother’s name printed on the PAN card.

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