A new section 32AC in the Income Tax Act

Concession on Investment 
The Government proposes to provide 15% concession on investment of more than Rs. 100 crore on project and automation in manufacturing sector of the country from 1st April, 2013 to 31st March, 2015. In order to encourage substantial investment in plant or machinery, the Finance Bill, 2013 proposes to insert a new section 32AC in the Income Tax Act to provide that where an assessee, being a company. Continue>>>>>