Tax deduction for hotel and convention centre profits permits full relief for qualifying new projects in specified area under conditions. The provision allows a hundred per cent deduction of profits and gains from eligible hotel and convention centre businesses for five consecutive assessment years starting from the initial assessment year, provided the undertaking is newly formed (not by splitting, reconstruction or transfer of existing building or plant), located in the specified area, constructed and commenced within the qualifying period, and accompanied by a prescribed audit certification; other Chapter VIA and section 10AA deductions are disallowed for the same profits.