Exemption from Section 104 for Indian exporters and overseas contractors where overseas receipts form the majority of turnover. Exempts Indian companies, excluding investment companies, from the operation of Section 104 for the previous year relevant to the assessment year commencing 1 April 1967 and subsequent years, where the company is engaged in export of goods or in constructional operations or services performed outside India and where receipts from those overseas activities constitute a majority of the aggregate sale proceeds or gross receipts credited to the profit and loss account for the relevant previous year.