Income Tax Act, 2025
Section 4: Subs. by s. 6, ibid., for “new hospital” (w.e.f. 12011).
4. Subs. by s. 6, ibid., for “new hospital” (w.e.f. 12011).
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1[(vii) developing and building a housing project under a scheme for affordable housing
framed by the Central Government or a State Government, as the case may be, and notified by the
Board in this behalf in accordance with the guidelines as may be prescribed;
(viii) production of fertilizer in India;]
2[(ix) setting up and operating an inland container depot or a container freight station notified
or approved under the Customs Act, 1962 (52 of 1962);
(x) bee-keeping and production of honey and beeswax;
(xi) setting up and operating a warehousing facility for storage of sugar;]
3[(xii) laying and operating a slurry pipeline for the transportation of iron ore;
(xiii) setting up and operating a semi-conductor wafer fabrication manufacturing unit notified
by the Board in accordance with such guidelines as may be prescribed;]
4[(xiv) developing or maintaining and operating or developing, maintaining and operating a
new infrastructure facility;]
(d) any machinery or plant which was used outside India by any person other than the assessee
shall not be regarded as machinery or plant previously used for any purpose, if—
(i) such machinery or plant was not, at any time prior to the date of the installation by the
assessee, used in India;
(ii) such machinery or plant is imported into India from any country outside India; and
(iii) no deduction on account of depreciation in respect of such machinery or plant has been
allowed or is allowable under the provisions of this Act in computing the total income of any
person for any period prior to the date of installation of the machinery or plant by the assessee;
(e) where in the case of a specified business, any machinery or plant or any part thereof
previously used for any purpose is transferred to the specified business and the total value of the
machinery or plant or part so transferred does not exceed twenty per cent of the total value of the
machinery or plant used in such business, then, for the purposes of clause (ii) of sub-section (2), the
condition specified therein shall be deemed to have been complied with;
(f) any expenditure of capital nature shall not include 5[any expenditure in respect of which the
payment or aggregate of payments made to a person in a day, otherwise than by an account payee
cheque drawn on a bank or an account payee bank draft or use of electronic clearing system through a
bank account, exceeds ten thousand rupees or] any expenditure incurred on the acquisition of any land
or goodwill or financial instrument.]
developing and building a housing project under a scheme for affordable housing
framed by the Central Government or a State Government, as the case may be, and notified by the
Board in this behalf in accordance with the guidelines as may be prescribed;
production of fertilizer in India;]
2[
setting up and operating an inland container depot or a container freight station notified
or approved under the Customs Act, 1962 (52 of 1962);
bee-keeping and production of honey and beeswax;
setting up and operating a warehousing facility for storage of sugar;]
3[
laying and operating a slurry pipeline for the transportation of iron ore;
setting up and operating a semi-conductor wafer fabrication manufacturing unit notified
by the Board in accordance with such guidelines as may be prescribed;]
4[
developing or maintaining and operating or developing, maintaining and operating a
new infrastructure facility;]
any machinery or plant which was used outside India by any person other than the assessee
shall not be regarded as machinery or plant previously used for any purpose, if—
such machinery or plant was not, at any time prior to the date of the installation by the
assessee, used in India;
such machinery or plant is imported into India from any country outside India; and
no deduction on account of depreciation in respect of such machinery or plant has been
allowed or is allowable under the provisions of this Act in computing the total income of any
person for any period prior to the date of installation of the machinery or plant by the assessee;
where in the case of a specified business, any machinery or plant or any part thereof
previously used for any purpose is transferred to the specified business and the total value of the
machinery or plant or part so transferred does not exceed twenty per cent of the total value of the
machinery or plant used in such business, then, for the purposes of clause
of sub-section
any expenditure of capital nature shall not include 5[any expenditure in respect of which the
payment or aggregate of payments made to a person in a day, otherwise than by an account payee
cheque drawn on a bank or an account payee bank draft or use of electronic clearing system through a
bank account, exceeds ten thousand rupees or] any expenditure incurred on the acquisition of any land
or goodwill or financial instrument.]