Deduction period for specified financial entities is extended and restricted by anti-abuse conditions for new units. Section 147 is amended to extend and restructure the deduction period for specified entities, including a twenty-year deduction framework for entities covered by sub-section (1)(a) and an optional twenty-year deduction within twenty-five years for entities covered by sub-section (1)(b). The amendment also restricts deductions for Offshore Banking Units or other units commencing on or after 1 April 2026 unless they are not formed by splitting up, reconstruction, reorganisation, or transfer of an existing business in India, and inserts definitions of relevant tax year, Unit, aircraft, and ship.