Government has announced Tax Incentives for the following Seven Districts in Andhra Pradesh to boost the Industrial activities.
The Central Board of Direct Taxes (CBDT) has notified these seven districts of the State of Andhra Pradesh as backward areas under section 32(1)(iia) and section 32AD of the Income-tax Act, to avail the tax benefits.
“Accordingly, any manufacturing undertaking set up during the period from 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 aforesaid incentives are in addition to other tax benefits available under the Income-tax Act.
Please click here for CBDT Government notification