Deduction in respect of profit and gains by an undertaking or enterprise engaged in development of special economic zone - (New) Section 139 / (old) Section 80-IAB

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....Tax Act, 2025 [ From 01.04.2026 ] In respect of any tax year, where-- • (a) the gross total income of an assessee, being a Developer, • includes any profits and gains derived by an undertaking or an enterprise from any business of developing a Special Economic Zone, • notified on or after the 1st April, 2005 under the Special Economic Zones Act, 2005&....

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....me-tax Act, 1961, as if the said Act had not been repealed. Filling a Separate Form along with Relevant Document [ Rule 66(3) & (4) ] • A separate report shall be furnished by each undertaking or enterprise of the assessee claiming deduction under section 142 and shall be accompanied by the profit  and loss account and balance sheet of the undertaking or en....

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....¢ The profits must arise from the business of developing the SEZ. • Income from unrelated businesses is not eligible. The SEZ must be notified • The SEZ must have been notified by the Central Government under the SEZ Act, 2005. Conditions: The following conditions should be satisfied: • The books of account of the tax payer are required to get audited....

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....utive assessment years out of 15 years beginning from the year in which the special economic zone has been notified by the Central Govt. The provisions of this section shall not apply to an assessee, being a developer, where the development of Special Economic Zone begins on or after the 1st day of April, 2017 Inter-Unit Transfer of Goods or Services: • Where any goods or servic....