Deduction for IFSC units expanded, granting an extended consecutive-year option for full tax deduction on eligible income.

Amendment revises deductions for OBUs and creates a distinct full-deduction option for IFSC Units: OBUs retain an initial full-deduction period followed by a reduced-deduction period, each tied to commencement upon prescribed permission or registration; IFSC Units may elect a continuous full-deduction block within a longer choice period starting from the assessment year when required permission or registration was obtained; cross-references to both entitlements are inserted in the income definition provision.

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