Deposit account withdrawals deemed business income when withdrawn under specified circumstances, attracting income-tax in the year of withdrawal. Amendments to section 32AB remove the word 'eligible' in several sub-sections, reword the definition of taxable profits to treat 'the profits of business or profession' for sub-section (1), modernise schedule references, add clause (e) permitting deduction for new machinery in industrial undertakings excluding small-scale units for items in the Eleventh Schedule, substitute 'scheme or' in sub-section (5A) with an Explanation preserving application of sub-sections (5AA) and (6), insert sub-section (5AA) deeming certain deposit account withdrawals as business income of the year of withdrawal, omit 'eligible' in (5B), and clarify sub-section (6) by adding specified bracketed circumstances.