Deduction for IFSC unit income: transfers of leased ships eligible under section 80LA for assessment year 2023 24 onward.

The amendment to clause (d) of sub-section (2) of section 80LA makes income from the transfer of an asset that is a ship, which was leased by an IFSC unit to a person, eligible for the one hundred per cent deduction under sub-section (1A), subject to the unit having commenced operations by the prescribed deadline and subject to the section's other conditions; the Explanation is amended to adopt the existing statutory definition of "ship."

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