Tax Benefit For Employing "Additional Employees"

The Income Tax Act vide Section 80JJAA under Chapter VI-A, has provided special deduction for employment of additional employees by assessee. It will be interesting to under that under what circumstances and how much can be the benefit available under this section. We have summarised this special beneficial clause in the following FAQ format:

1. Who is eligible to claim the benefit?
   Any assessee who is required to get its accounts audited under section 44AB of The Income Tax Act ie. Tax audit. Tax audit is primarily applicable to Companies whose total sales, or gross receipts in the business exceed Rs. 1 crore. For professionals, the tax audit is applicable if their gross receipts in the profession exceed Rs. 50 Lakhs.