Income Tax

Deductions u/s 80-JJAA of Income-Tax Act Extended To Footwear And Leather Industry

Deductions u/s 80-JJAA of The Income-Tax Act Extended To Footwear And Leather Industry To Help Employment Generation

The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley has proposed to extend the benefits under Section 80-JJAA of the Income-tax Act to footwear and leather industry. While presenting the General Budget 2018-19 in Parliament here today, the Union Finance Minister said, “Currently, a deduction of 30% is allowed in addition to normal deduction of 100% in respect of emoluments paid to eligible new employees who have been employed for a minimum period of 240 days during the year under section 80-JJAA of the Income-tax Act.”

He however, noted that the minimum period of employment is relaxed to 150 days in the case of apparel industry. Extending this relaxation of minimum period of 150 days to footwear and leather industry also, the Finance Minister hoped this would encourage creation of new employment in this sector.

The Finance Minister has further proposed to rationalise deduction of 30% by allowing the benefit for a new employee who is employed for less than the minimum period during the first year but continues to remain employed for the minimum period in subsequent year

Empanelment of ICAI Exam observer for January 2027 Examinations. Last date: 20.11.2026

Empanelment to act as ICAI exam observers for January 2027 CA Examination. Last date to apply is 20.11.2026 Empanelment of…

5 hours ago

No arrest under GST- Major decision of 57th Meeting of GST Council held on 8th October 2026

No arrest under GST- Major decision taken in 57th Meeting of the GST Council on 8th October 2026 PRESS RELEASE…

2 days ago

Income Tax

Later SC ruling cannot render an act done in compliance of a court order a statutory default

A subsequent Apex Court ruling on the substantive issue cannot retrospectively make an act done in compliance of a binding…

2 days ago

Income Tax

Interest payment on mobilisation advance to NHAI not liable to TDS u/s 194A

Interest payment on mobilisation advance to NHAI not liable for deduction of tax at source u/s 194A - ITAT Interest…

3 days ago

Income Tax

Typographical error in turnover accepted during assessment not a mistake apparent from record

Typographical error in turnover declared in ITR was not as a mistake apparent from the record u/s 154 when AO…

5 days ago

Income Tax

Plea that assessee was not aware of order cannot be brushed aside in absence of proof of service

Ground taken by assessee that he was not aware of the order cannot be brushed aside so lightly in absence…