Certain 80 IA Business now covered under Section 35AD

For Certain Infrastructure business,Earlier Section 80IA Deduction were applicable,but now Section 35AD is applicable

List of Such Business

Business of

developing

or

maintaining and operating

or

developing, maintaining and operating

a new infrastructure facility  

Meaning of Infrastructure Facility

1. Road including   toll   road,   a bridge or a rail system.
2. A highway project (including housing or other activities being an integral part of the highway project.)
3. water supply project (A water supply project, water treatment system, irrigation project, sanitation and sewerage system or solid waste management system)
4. Port (A port, airport, inland waterway, inland port or navigational channel in the sea )

Conditions to be Fuilfilled

1. Business should be commenced on or afterr 1/4/2017

2 The business should be   owned by a company registered in India or by a consortium of such companies or by an authority or a board or corporation or any other body established or constituted under any Central or State Act.(not a partnership/proprietorship or not foreign co)

+

it should have entered into an agreement with the Central Government or a State Government or a local authority or any other statutory body for developing or operating and maintaining or developing, operating and maintaining, a new infrastructure facility