Section 80-IE of ITA, 1961 : Section 80-Ie: Special Provisions In Respect Of Certain Undertakings In North-Eastern States
ITA, 1961
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Explanation using Example
Let's consider a hypothetical scenario where a company named 'GreenTech Innovations' is set up in the state of Meghalaya on 1st April 2010. GreenTech Innovations is engaged in the manufacturing of solar-powered irrigation systems, which is an eligible article under the Income-tax Act, 1961.
Since GreenTech Innovations started its operations in one of the North-Eastern States within the specified period (between 1st April 2007 and 31st March 2017), it may qualify for tax benefits under Section 80-IE of the Income-tax A...
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