Export profit deduction phased reduction under section 80HHC implemented over successive assessment years, altering allowable deduction rates. Amendment revises section 80HHC(1B) by substituting clauses to prescribe a phased schedule of progressively reduced proportions of the allowable deduction ... Summary
Export profit deduction phased reduction under section 80HHC implemented over successive assessment years, altering allowable deduction rates.
Amendment revises section 80HHC(1B) by substituting clauses to prescribe a phased schedule of progressively reduced proportions of the allowable deduction effective from the commencement specified in the Finance Act, 2001, thereby establishing a transitional tapering mechanism for deduction entitlement in successive assessment years.
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