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<h1>Special Economic Zones Act, 2005: Key Definitions and Tax Incentives for Businesses in SEZs Under Income-tax Act, 1961.</h1> The Special Economic Zones Act, 2005, includes definitions relevant to its application, particularly in the context of income tax. It is referenced in the Income-tax Act, 1961, indicating its role in the broader statutory framework. This Act outlines the legal foundation for establishing and operating Special Economic Zones (SEZs), which are designated areas with economic regulations differing from other regions within the same country, primarily to encourage trade, investment, and economic growth. The Act interacts with taxation laws to provide specific incentives and regulatory guidelines for businesses operating within SEZs.