CBDT Circular on Build-Own-Lease-Transfer (BOLT) Scheme of Indian Railways

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Whether Build-Own-Lease-Transfer (BOLT) Scheme of Indian Railways shall be eligible for benefit under section 80-IA, since it is not legally possible for any enterprise other than Indian Railways to maintain and operate Railway System

Circular : No. 733, dated 3-1-1996.

1. The Finance Act, 1995 has introduced sub-section (4A) in section 80-IA of the Income-tax Act, 1961 providing for a five-year tax holiday and a deduction of 30 per cent in the subsequent five years within a period of twelve assessment years beginning with the assessment year in which an enterprise (which may be owned by a company or a Consortium of companies)

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