Mfg units in 7 districts of Andhra Pradesh to get additional sops

New Delhi, Oct 1 (KNN) The manufacturing undertaking set up during the period from April 1, 2015 to March 31, 2o2o in seven districts of Andhra Pradesh are eligible for 15 per cent of higher additional depreciation and 15% of   investment allowance on the cost of plant and machinery acquired by it during the said period.

Under the Andhra Pradesh Re-organisation Act, 2014 the Government of India is extending special assistance to four districts of Rayalseema and three districts of North coastal Region of Andhra Pradesh.

To further boost the industrial activities, the CBDT has notified these seven districts for availing tax incentives under section 32(1)(iia) and section 32AD of the Income-tax Act.

The 7 districts of Andhra Pradesh notified as backward areas vide Notification in S.O.3075 (E) dated 28.09.2016 are: Anantapur; Chittoor; Cuddapah; Kurnool; Srikakulam; Vishakhapatnam; and Viziannagaram.

These incentives are in addition to other tax benefits available under the Income-tax Act. The above Notification is available on the website incometaxindia.gov.in.