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of <h1>Tax Breaks for Industrial, Hotel, and Shipping Businesses: Profit Deduction Eligibility Based on Establishment and Ownership Criteria</h1> The statutory provision outlines tax deductions for industrial undertakings, ships, hotels, and ocean-going vessel repair businesses. It provides specific conditions for eligibility, including time frames for establishment, ownership requirements, and manufacturing criteria. The section allows deductions ranging from 20-30% of profits for initial assessment years and subsequent years, with variations based on the type of business entity and establishment date.
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