BUSINESS ADMINISTRATION
ENTREPRENEURIAL DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Depreciation Allowance
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Development Debate
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Investment Allowance
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Rehabilitation Allowance
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Detailed explanation-1: -Explanation.-In this section, ” industrial undertaking” means any undertaking which is mainly engaged in the business of generation or distribution of electricity or any other form of power or in the construction of ships or in the manufacture or processing of goods or in mining.]
Detailed explanation-2: -The purpose of the rehabilitation allowance is to provide economic security during rehabilitation. You can qualify for a rehabilitation allowance if you are between 16 and 67 and participate in rehabilitation.
Detailed explanation-3: -Under section 80J of the Income Tax Act 1961, new industrial undertakings, including small-scale industries, are exempted from the payment of income-tax on their profits subject to a maximum of 6% per annum of their capital employed.