Export profit deduction allows exporters with convertible foreign exchange receipts to claim a reserved profit deduction subject to conditions. Section 80HHC allows resident Indian taxpayers engaged in export of specified goods to claim a deduction in computing total income for profits retained from exports where sale proceeds are receivable in convertible foreign exchange, subject to a statutory cap and the requirement that the claimed amount be debited to the profit and loss account and credited to a reserve for business use; exclusions cover mineral oil and minerals and ores and profits are computed either as whole business profits for exclusive exporters or by apportionment of profits by export turnover to total turnover.