21 District areas of Bihar notified as backward areas given opportunity to grow faster by giving effect to the amendment in Income-Tax Act 1961 through Finance Act 2015 - (19 Aug 2015)

Tax Benefits to notified backward areas in Bihar

MANU/PIBU/1151/2015

Direct Taxation

The Income Tax Act, 1961 has been amended by the Finance Act 2015 providing tax benefits to notified backward areas in Bihar, to give these areas an opportunity to grow faster. Any manufacturing undertaking or enterprise set-up during the period from 01.04.2015 to 31.03.2020 in the notified areas will be eligible for 15% additional depreciation and 15% investment allowance.

Tags : BIHAR BACKWARD AREA TAX BENEFIT