Section 10B historically allowed approved 100% export-oriented undertakings a deduction of export profits for 10 consecutive assessment years from commencement of manufacture or production. Eligibility required timely return filing, audit, export-proceeds repatriation within six months, and formation without reconstruction of an existing business or transfer of previously used plant or machinery. The deduction was unavailable from assessment year 2012-13. Software development services performed outside India were treated as export profits, and restructuring rules preserved the available deduction with the successor entity.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 1 
