You just cant make this stuff up... Look what I found on NHBF National Highway Builders Federation. We wondered why ALDOT is pushing an additional lane.... here it is... There is a tax credit to widen roads and add lanes.... this is what it says.... CIRCULAR ON INCOME TAX EXEMPTION OF WIDENING OF ROAD UNDER SECTION 80(IA) As you are aware ,the section 80IA (4) (i) of Income Tax Act provides for a tax concessions by way of deductions to an infrastructure developer or operator and maintainer, or anyone who is engaged in all the three activities. Till the circular had clarified the status, the section defined infrastructure facility as a road including toll road, a bridge or a rail system and a highway project including housing or other activities being an integral part of the highway project. Due to lack of clarity the Road developers/contractors are facing difficulties in the past and NHBF is pursuing Government to issue a clarification in this regard. Now the government has clarified that widening existing road by constructing an additional lane as part of a highway project is eligible for tax concession provided to other infrastructure activities under section 80IA (4)(i) of the Income Tax Act.
Posted on: Mon, 22 Sep 2014 03:31:50 +0000