Section 32AD of ITA, 1961 : Section 32Ad: Investment In New Plant Or Machinery In Notified Backward Areas In Certain States
ITA, 1961
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Explanation using Example
Imagine a company, ABC Manufacturing Pvt. Ltd., decides to set up a new factory to produce electronic components in a notified backward area of Andhra Pradesh on June 1, 2016. The company invests in new machinery worth ₹10 crore for the factory. As per Section 32AD of the Income-tax Act, 1961, ABC Manufacturing Pvt. Ltd. could claim a deduction of 15% on the actual ...
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