https://www.taxtmi.com/circulars?id=9515 The Finance (No. 2) Act, 1980 narrowed eligibility for weighted deduction under section 35B to specified overseas promotional services: overseas advertisement, maintenance of foreign branch/office/agency for sales promotion, sending executives abroad to negotiate export contracts, and furnishing samples and technical information to promote exports. Payments to State Trading Corporation qualify only for those items, and for assessees exporting vegetable oil only 50% of service charges paid to the Corporation qualify for the weighted deduction, subject to other section conditions, effective from assessment year 1980-81. en-us Sun, 08 May 1983 00:00:00 +0530 Mon, 06 Jun 2011 16:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9515 The Finance (No. 2) Act, 1980 narrowed eligibility for weighted deduction under section 35B to specified overseas promotional services: overseas advertisement, maintenance of foreign branch/office/agency for sales promotion, sending executives abroad to negotiate export contracts, and furnishing samples and technical information to promote exports. Payments to State Trading Corporation qualify only for those items, and for assessees exporting vegetable oil only 50% of service charges paid to the Corporation qualify for the weighted deduction, subject to other section conditions, effective from assessment year 1980-81. Circulars Income Tax Sun, 08 May 1983 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9515