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of <h1>New Rules for Calculating SEZ Business Profits: Deduct Expenses, Address Depreciation, and Ensure Compliance with Reorganization Conditions.</h1> The Twelfth computation of profits for businesses developing a Special Economic Zone (SEZ). Profits are calculated by deducting business expenditures from gross income, which includes receipts from business operations and certain asset transactions. Business expenditures encompass operating costs, finance charges, and capital expenses. If computed profits are negative, they are treated as nil. The schedule also addresses asset depreciation and allows deductions for successors in business reorganizations. Conditions for applicability include that the business must not arise from splitting or transferring existing operations. Imported machinery not previously used in India is exempt from being considered previously used.
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