BUSINESS ADMINISTRATION
ENTREPRENEURIAL DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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65%
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60%
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55%
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50%
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Detailed explanation-1: -As noted above, sub-section (1) of Section 80HH allows “a deduction from such profits and gains of an amount equal to 20 per cent thereof”, in computing the total income of the assessee.
Detailed explanation-2: -(i) the construction of any building, road, dam, bridge or other structure outside India; (ii) the assembly or installation of any machinery or plant outside India; (iii) the execution of such other work (of whatever nature) as may be prescribed.
Detailed explanation-3: -Section 80HH and Section 80RRB Section 80HH is a deduction based on profits and gains from newly established industrial undertakings or hotel business in backward areas. Section 80RRB is deduction given to taxpayers for income from royalty on a patent.