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<h1>Finance Act 2016 amends Income-tax Act: Foreign diamond mining income from special zones not taxable in India.</h1> In the Finance Act, 2016, an amendment to section 9 of the Income-tax Act was introduced. This amendment adds a new clause to sub-section (1), clause (i), Explanation 1. It specifies that for foreign companies involved in diamond mining, income will not be considered as accruing or arising in India if it is derived solely from displaying uncut and unassorted diamonds in a special zone designated by the Central Government.