145. Deduction for businesses engaged in collecting andprocessing of bio-degradable waste. | Knowledge Bank

CHAPTER VIII

DEDUCTIONS TO BE MADE IN COMPUTING TOTAL INCOME

Deduction for businesses engaged in collecting andprocessing of bio-degradable waste.

145. (1) If the gross total income of an assessee includes any profits and gains derived from the business of collecting and processing or treating of bio-degradable waste for,—

(a) generating power; or

(b) producing bio-fertilizers, bio-pesticides or other biological agents; or

(d) making pellets or briquettes for fuel or organic manure, there shall be allowed a deduction equal to the whole amount of such profits and gains for five consecutive tax years, beginning with the tax year in which such business commences.

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