SEZ unit deduction requires qualifying export profits, timely compliance, foreign-exchange realisation, and adherence to establishment and reinvestment conditions.

Deduction for eligible newly established SEZ units requires export profits, timely return filing, a deduction claim, audited accounts and Form 56F certification. The unit must satisfy conditions concerning new establishment, previously used machinery and receipt of export proceeds in convertible foreign exchange. The deduction is available in phased periods, with the final period linked to an SEZ Reinvestment Reserve and its prescribed use. It is a deduction rather than an exemption, and losses and depreciation are ordinarily carried forward.

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