Mention the types of deductions and tax incentives available to the corporates, bearing on the financial decisions making process of a firm.

There are certain types of deductions, tax incentives available to the corporate which need to be considered while taking financial decisions, which are summed up as below: Deduction of profits & gains derived by 100% Export Oriented Undertaking. Deduction of profits & gains derived from the export of articles or things or services by an undertaking established in Special Economic Zone. Deductions u/s 80IA of Income Tax Act, 1961 in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development etc. Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone. Deduction in respect of Profits and gains from certain industrial undertakings other than infrastructure development undertakings. Deduction in respect of certain undertakings or enterprises in certain special category States. Deduction in respect of profits and gains from business of hotels and convention centers in specified areas. Allowability of revenue expenditure and capital expenditure (except on land) incurred on scientific research. Capital expenditure incurred on acquisition of patent rights or copy rights (before 1st day of April 1998) is also allowed to be amortized in equal instalments over a period of 14 years. Deduction of capital expenditure incurred on specified business under section 35AD of Income Tax Act, 1962. Expenditure for obtaining license to operate telecommunication services in equal installments over the period for which the license remains in force. Amortization of preliminary expenses such as feasibility report or project report expenses are allowed in 5 equal installments.