Under the Andhra Pradesh Re-organisation Act, 2014 the Government of India is extending special assistance to four districts of Rayalseema and three districts of North coastal Region of Andhra Pradesh. To further boost the industrial activities, the CBDT has notified these seven districts for availing tax incentives under Section 32(1)(iia) and Section 32-AD of the Income Tax Act. Accordingly, any manufacturing undertaking set up during the period from 01.04.2015 to 31.03.2020 in these districts of Andhra Pradesh is eligible for 15% of higher additional depreciation and 15% of investment allowance on the cost of plant and machinery acquired by it during the said period. The 7 districts of Andhra Pradesh notified as backward areas vide Notification in S.O.3075 (E) dated 28.09.2016 are:
1. Anantapur
2. Chittoor
3. Cuddapah
4. Kurnool
5. Srikakulam
6. Vishakhapatnam
7. Vizianagaram

The aforesaid incentives are in addition to other tax benefits available under the Income Tax Act. The above Notification is available on the website incometaxindia.gov.in.

Ministry of Finance

Must Watch

maintenance to second wife

bail in false pretext of marriage

right to procreate of convict

Criminology, Penology and Victimology book release

Join the discussion

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.