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deduction of 80-IC in the year of part IX conversion

Started by vdboss, September 28, 2012, 06:18:44 PM

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In case of conversion of partnership (eligibile for deduction u/s 80-IC) into company under Part IX, whether, for the year of conversion, the company should claim 80-IC deduction for the entire year or whether the partnership should claim 80-IC deduction till the date of conversion and company should claim 80-IC from the date of conversion?


As you have to file two returns ,you have to claim deductions in two returns.


 Deduction U/s 80IC is available to the unit in specified industrail area .  It is only availble when it is claimed as deduction in the return filled under section 139(1).