https://www.taxtmi.com/acts?id=46758 A new provision grants a tax deduction where an assessee's export turnover in a previous year exceeds that in the corresponding base year by the specified threshold; applicable to Indian companies and resident persons for the assessment year beginning 1 April 1983 and the four subsequent years. The Central Government will notify the goods, export destinations and rates, having regard to manufacturing costs, foreign prices, market development and foreign-exchange needs. The deduction is capped at a proportion of tax otherwise payable on export profits, with rules for computing those profits to be made by the Board. en-us Mon, 30 Dec 2024 14:28:10 +0530 Mon, 30 Dec 2024 14:28:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=46758 A new provision grants a tax deduction where an assessee's export turnover in a previous year exceeds that in the corresponding base year by the specified threshold; applicable to Indian companies and resident persons for the assessment year beginning 1 April 1983 and the four subsequent years. The Central Government will notify the goods, export destinations and rates, having regard to manufacturing costs, foreign prices, market development and foreign-exchange needs. The deduction is capped at a proportion of tax otherwise payable on export profits, with rules for computing those profits to be made by the Board. Act-Rules F. Acts / Amendment Acts Mon, 30 Dec 2024 14:28:10 +0530 https://www.taxtmi.com/acts?id=46758