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    <title>Reduction in rate of income-tax in respect of business consisting of prospecting for or extraction or production of mineral oils by any person being an Indian company</title>
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    <description>Where the Central Government has an agreement for participation in an Indian company&#039;s mineral-oil business, profits solely from prospecting, extraction or production of mineral oils are taxed under a reduced single-rate regime with no Union surcharge; where total income includes both mineral-oil profits and other income, mineral-oil profits are taxed under the reduced regime and the remaining income is taxed under the normal provisions with applicable surcharge.</description>
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      <description>Where the Central Government has an agreement for participation in an Indian company&#039;s mineral-oil business, profits solely from prospecting, extraction or production of mineral oils are taxed under a reduced single-rate regime with no Union surcharge; where total income includes both mineral-oil profits and other income, mineral-oil profits are taxed under the reduced regime and the remaining income is taxed under the normal provisions with applicable surcharge.</description>
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