Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Tax deduction for exports: limited-period exemption for export profits in specified zones, subject to eligibility and compliance. A limited-period tax deduction is allowed for profits from export of goods or computer software by newly established undertakings in specified export-promoting zones, subject to location and formation eligibility, repatriation of export proceeds in convertible foreign exchange, and procedural compliance. For special economic zone units a staged deduction applies with an option to credit part of profit to a Special Economic Zone Re-investment Allowance Reserve Account for prescribed reinvestment purposes; misuse or non utilisation of the reserve results in the amounts being deemed profits. Export-attributable profit is determined by the ratio of export turnover to total turnover, and transitional and anti-avoidance adjustments affect depreciation, loss carryforwards and other incentives.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax deduction for exports: limited-period exemption for export profits in specified zones, subject to eligibility and compliance.
A limited-period tax deduction is allowed for profits from export of goods or computer software by newly established undertakings in specified export-promoting zones, subject to location and formation eligibility, repatriation of export proceeds in convertible foreign exchange, and procedural compliance. For special economic zone units a staged deduction applies with an option to credit part of profit to a Special Economic Zone Re-investment Allowance Reserve Account for prescribed reinvestment purposes; misuse or non utilisation of the reserve results in the amounts being deemed profits. Export-attributable profit is determined by the ratio of export turnover to total turnover, and transitional and anti-avoidance adjustments affect depreciation, loss carryforwards and other incentives.
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