Export-oriented undertaking deduction covered eligible export profits subject to approval, compliance, repatriation and restructuring rules before its sunset.

Section 10B provided a deduction for profits from eligible exports by newly established approved export-oriented undertakings, subject to conditions concerning timely return filing, manufacturing or software activity, export-proceeds repatriation, audit, and restrictions on reconstruction or use of previously used plant or machinery. The provision is subject to a sunset rule making the deduction unavailable from assessment year 2012-13. It also addressed loss treatment, depreciation, on-site software-development profits, and continuation of the benefit following amalgamation or demerger.

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