80IB(1),SUBcl (g)ofCl.14
Querist :
Anonymous
(Querist) 15 June 2010
This query is : Open
My quiry is in rescwept of claim u/s 80IB. Manufacturing unit in centraly notigfied backward area/ SURENDRANAGAR/ STATE OF GUJARAT. All conditions are fulfiled for elegibilty of claim except the "investment in Plant & Machinery with exceed Rs 1 crore. This was notified by notification no SO 857(E) dt. 10/12/1999 as per section 11B of Industries (Devcelopment and Regulation) Act 1951
Now after enactment of MICRO, SMALL AND MEDIUM ENTERPRISE ACT 2006 the unit are prescribed as small enterprise up to investment of rs 5 crore. The Central Government in excessice of powers conferred by sec.cl.(1) of sec 7 of MSMED Act 2006 notification no SO 1642(E) clarified the limits the considering SSI unit need to comply provision of MSMED Act 2006 only and had supersided the earlier requirement u/s 11B of Industries (Development and Regulation) Act 1951.
Please i solisite expert openion wheather the unit will eligible u/s 80IB of I T Act 1961 r/w (g) of cl.(14) of sec. 80IB.
