Deduction for hundred percent export-oriented undertakings permitted for limited consecutive assessment years subject to export and compliance conditions.

A deduction is allowed to a hundred per cent export-oriented undertaking for profits from export of articles, things or computer software for ten consecutive assessment years starting from the year production begins, subject to exclusion of later years, receipt of export proceeds in convertible foreign exchange within prescribed time, eligibility restrictions on reconstructed or transferred businesses, and mandatory accountant certification with the return. Ownership transfer, loss of prescribed shareholding, and statutory limits on other deductions, loss carryforwards and depreciation adjustments terminate or affect entitlement.

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