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Section 80-I prescribes deduction in respect of profits and gains from industrial undertakings.
An Assessee is required to furnish its annual audit report in Form 10CCB for claiming deduction under following sections –
In order to claim deductions as prescribed above, one of the requirements is that the accounts for the relevant year has been audited by the accountant and the taxpayer furnishes such an audit report in Form 10CCB.
If the Form 10CCB is not filed before the due date, the deduction under above sections may be disallowed.
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