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of <h1>Amendment to Section 10A of Income-tax Act: Changes in Definitions, Export Profits Calculation, and Shareholding Provisions.</h1> The amendment to section 10A of the Income-tax Act, as per the Finance Act, 2001, involves several changes. In sub-section (1), the phrase 'undertaking was first set up' is replaced with 'undertaking began to manufacture or produce such articles or things or computer software.' The third proviso is omitted effective April 1, 2002. Sub-section (4) is revised to specify that export profits are proportionate to the export turnover relative to total business turnover. Additional provisions clarify changes in company shareholding and confirm that profits from on-site software development outside India are considered export profits.
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