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of <h1>Income Tax Act Section 10A Amendment: New Deduction Rules for SEZs and Reorganized Companies from April 1, 2003.</h1> The amendment to section 10A of the Income-tax Act, effective from April 1, 2003, introduces several changes. For the assessment year starting April 1, 2003, a deduction of 90% of profits from exports is allowed. A new sub-section (1A) grants a 100% deduction for five years and 50% for the next two years for undertakings in special economic zones starting production after April 1, 2003. Sub-section (9A) allows companies succeeding firms or sole proprietorships through reorganization to claim deductions if ownership conditions are met, ensuring at least 51% shareholding continuity.
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