https://www.taxtmi.com/acts?id=49664 The amendment creates a phased deduction for profits from services to foreign tourists for assessment years beginning April 1, 2001 through April 1, 2004, each year allowing a specified percentage of such profits plus an additional amount, not exceeding that percentage, if debited to profit and loss and credited to a reserve account to be used for business in the manner prescribed; no deduction is permitted for the assessment year beginning April 1, 2005 and thereafter. en-us Mon, 24 Feb 2025 14:51:26 +0530 Mon, 24 Feb 2025 14:51:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49664 The amendment creates a phased deduction for profits from services to foreign tourists for assessment years beginning April 1, 2001 through April 1, 2004, each year allowing a specified percentage of such profits plus an additional amount, not exceeding that percentage, if debited to profit and loss and credited to a reserve account to be used for business in the manner prescribed; no deduction is permitted for the assessment year beginning April 1, 2005 and thereafter. Act-Rules F. Acts / Amendment Acts Mon, 24 Feb 2025 14:51:26 +0530 https://www.taxtmi.com/acts?id=49664