INCENTIVES FOR INDUSTRIAL DEVELOPMENT

 The availability of adequate infrastructure facilities, balanced regional growth and focused development of certain industries have occupied an important place in Indian economic policy. Government has tried to achieve it through certain incentives shown by below Table.

INCENTIVES FOR INDUSTRIAL DEVELOPMENT

Deduction (Sec.)
Business nature
Amount and period of deduction
80-IA
Providing infrastructure facility, telecommunication services, power generation, gas distribution network
100% profit is deductible for 10 years.
80-IAB (notified w.e.f. April1, 2005)
Development of SEZ
100% profit is deductible for 10 years.
80-IB
Shipping, hotels in specified areas, housing projects, multiplex theatres, hospitals in rural areas etc.
Different rates are applicable for different categories.
80-IC (from A.Y. 2004-05)
Undertakings in certain states i.e. Sikkim, H P, Northern Eastern States
Different rates are applicable for different states.
80-ID (from A.Y. 2008-09)
Convention centre in specified areas
100% profit is deductible for 5 years.
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