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of <h1>Amendment to Section 80-HHC affects profit calculations for exporters with turnover above and below ten crores since 1998.</h1> Section 80-HHC of the Income-tax Act, 1961, was amended by the Taxation Laws (Amendment) Act, 2005, to include provisions affecting assessees with export turnover both below and above ten crores. For turnovers not exceeding ten crores, profits are increased by 90% of sums under specific clauses of section 28. For turnovers exceeding ten crores, similar increases apply if evidence shows a higher customs duty drawback rate compared to other schemes. Additionally, losses computed under certain conditions are set off against 90% of specified sums, with these amendments effective from April 1, 1998, and April 1, 1992, respectively.
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