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of <h1>Section 10A: Tax deduction for export profits of new undertakings in specified zones with phased benefits and compliance rules</h1> Section 10A grants tax deduction for profits from export of goods or computer software by newly established undertakings in specified zones, originally for ten consecutive assessment years; for units set up in special economic zones on/after 1-4-2003 the benefit is 100% for five years, 50% for two years and a reinvestment-reserve-linked exemption for three years. Eligibility requires new manufacture/production (not by splitting/reconstruction or transfer of used plant), export receipts in convertible foreign exchange within prescribed time, and proportionate allocation of export profit. Compliance includes accountant certification and prescribed conditions for reserve utilization; the assesse can opt out and specific transfer, amalgamation and unit exclusions apply; deductions were curtailed for years beginning 1-4-2012 onward.
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