https://www.taxtmi.com/manuals?id=1943 Special deduction is available for specified oil exploration business involving prospecting for, extraction of, or production of mineral oil under an agreement with the Central Government. Allowable deductions cover abortive exploration expenditure before commercial production, specified drilling, exploration, services and related asset expenditure after commencement, and depletion allowance for mineral oil as provided in the agreement. The deduction may be in substitution for, or in addition to, normal deductions only as permitted by the agreement, and transfer of the business or interest triggers agreement-based tax computation with no further deduction for unallowed expenditure. en-us Mon, 30 Jan 2023 13:32:00 +0530 Wed, 06 May 2026 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1943 Special deduction is available for specified oil exploration business involving prospecting for, extraction of, or production of mineral oil under an agreement with the Central Government. Allowable deductions cover abortive exploration expenditure before commercial production, specified drilling, exploration, services and related asset expenditure after commencement, and depletion allowance for mineral oil as provided in the agreement. The deduction may be in substitution for, or in addition to, normal deductions only as permitted by the agreement, and transfer of the business or interest triggers agreement-based tax computation with no further deduction for unallowed expenditure. Manuals Income Tax Mon, 30 Jan 2023 13:32:00 +0530 https://www.taxtmi.com/manuals?id=1943