https://www.taxtmi.com/acts?id=51806 An assessee engaged in petroleum or natural gas operations who deposits amounts (including credited interest) into a specified account-either a special account with the State Bank of India under an approved special scheme or a site restoration account under a deposit scheme-and obtains the prescribed audit report may deduct the lesser of such deposits or twenty percent of business profits before this deduction. Withdrawals are limited to scheme purposes; unauthorised withdrawals, unutilised releases, or certain asset disposals produce deemed business income and expenditure met from the account is not separately deductible. en-us Thu, 14 Aug 2025 13:14:52 +0530 Wed, 18 Mar 2026 15:22:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51806 An assessee engaged in petroleum or natural gas operations who deposits amounts (including credited interest) into a specified account-either a special account with the State Bank of India under an approved special scheme or a site restoration account under a deposit scheme-and obtains the prescribed audit report may deduct the lesser of such deposits or twenty percent of business profits before this deduction. Withdrawals are limited to scheme purposes; unauthorised withdrawals, unutilised releases, or certain asset disposals produce deemed business income and expenditure met from the account is not separately deductible. Act-Rules Income Tax Thu, 14 Aug 2025 13:14:52 +0530 https://www.taxtmi.com/acts?id=51806