Period of tax holiday/concession under Deductions in respect of profits and gains from undertakings or enterprises engaged in infrastructure development, etc. [Section 80-IA] :
(1) The assessee has the option to claim deduction for any 10 consecutive assessment years out of 15 years beginning from the year in which the undertaking or the enterprise develops or begins to operate the eligible business.
(2) The assessee may also claim deduction for 10 out of 15 years beginning from the year in which an undertaking undertakes substantial renovation and modernization of the existing transmission or distribution lines.
(3) In case of an infrastructure facility being a public facility like –
(i) a road, including a toll road, bridge or rail system; or
(ii) a highway project including housing or other activities which are an integral part of the highway project; or
(iii) a water supply project, water treatment system, irrigation project, sanitation and sewerage system or solid waste management system,
the assessee can claim deduction for any 10 consecutive assessment years out of 20 years beginning from the year of operation.