Business EconomyPosted at: Sep 30 2016 7:59PM

CBDT notifies 7 districts of AP for tax incentives under IT Act

New Delhi, Sep 30 (UNI) Under the Andhra Pradesh Re-organisation Act, 2014, the Centre 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 32AD of the Income-tax Act.
Accordingly, any manufacturing undertaking set up during the period April 1, 2015 to March 31, 2020 in these districts of Andhra Pradesh is eligible for 15 per cent of higher additional depreciation and 15 per cent of investment allowance on the cost of plant and machinery acquired by it during the said period.
The seven districts of Andhra Pradesh notified as backward areas are Anantapur, Chittoor, Cuddapah, Kurnool, Srikakulam, Vishakhapatnam and Vizianagaram.
The aforesaid incentives are in addition to other tax benefits available under the Income-tax Act.
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CBDT notifies 7 districts of AP for tax incentives under IT Act

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