Section 80-ID of ITA, 1961 : Section 80-Id: Deduction In Respect Of Profits And Gains From Business Of Hotels And Convention Centres In Specified Area

ITA, 1961

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Explanation using Example

Imagine a company, 'Heritage Hotels Pvt. Ltd.', decides to construct a new three-star hotel in Agra, Uttar Pradesh, which is a district with a World Heritage Site—the Taj Mahal. The construction of the hotel begins on April 1, 2009, and it starts operating on January 1, 2010. The total income of the company for the assessment year 2011-12 includes profits from the hotel business.

Under Section 80-ID of the Income-tax Act, 1961, Heritage Hotels Pvt. Ltd. can claim a deduction of 100% of the profits gained from this new hotel for five consecutive assessment years, starting from the initial as...

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