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of <h1>Finance Bill 2020 amends Income-tax Act, Section 10A, changing accountant report submission for free trade zone deductions.</h1> Clause 8 of the Finance Bill, 2020, amends section 10A of the Income-tax Act concerning deductions for newly established undertakings in free trade zones. The amendment modifies sub-section (5) by removing the requirement to submit an accountant's report with the income return. Instead, the report must be submitted before the specified date in section 44AB. This change applies from April 1, 2020, impacting the assessment year 2020-2021 onward. The amendment ensures compliance with the deduction claim process without linking it to the income return submission timeline.
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