Budget 2011: ASSOCHAM suggests deduction under section 80-IA to power plants

In view of scarcity of power and to promote the power plants, exemption may be continued for another year for the power plants to be commissioned by March 31, 2012.

By Agencies | Feb 09, 2011, 12.47 PM IST

NEW DELHI: Apex industry body, ASSOCHAM in its pre-budget memorandum has recommended that as per the provision of section 80-IA(4)(iv) of the Act, profit earned by an undertaking is exempted if it begins to generate power up to March 31, 2011.

In view of scarcity of power and to promote the power plants, exemption may be continued for another year for the power plants to be commissioned by March 31, 2012.

ASSOCHAM has sited the rationale that power is the critical infrastructure on which the socio-economic development of the country depends. Therefore, it is necessary to promote this sector.

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