Clarification of the term ‘initial assessment year in section, 80IA (5) of the Income-tax Act, 1961

Circular No. 1 /2016 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, the 13th February, 2016 Subject: Clarification of the term ‘initial assessment year in section, 80IA (5) of the Income-tax Act, 1961 Section 801A of the Income-tax Act, i961 (‘Act’}, as substituted by the…