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of <h1>Amendment to Section 104: Expanded Applicability and Exemptions for Manufacturing, Mining, and Power Companies</h1> Section 104 of the Income-tax Act is amended to expand its applicability and exemptions. Sub-section (1) is revised to include section 107A alongside sections 105, 106, and 107. New sub-sections (3) and (4) are added. Sub-section (3) allows the Central Government to exempt certain companies from this section if deemed necessary in the public interest. Sub-section (4) exempts Indian companies primarily engaged in manufacturing, processing, mining, or power generation/distribution, and those with capital assets of machinery or plant valued at fifty lakhs rupees or more, provided their income from these activities is at least 51% of total income.
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