Amendment of section 80LA

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....raft" shall', the words 'this clause, "aircraft" and "ship" shall' shall be substituted. - Clause 23 seeks to amend section 80LA of the Income-tax Act relating to deductions in respect of certain incomes of Offshore Banking Units and International Financial Services Centre. Sub-section (1A) of the said section, inter-alia, provides that where the gross total income of an assessee, being a Unit....

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....ia, under the said sub-section (1A). It is proposed to amend clause (d) of sub-section (2) of the said section to provide that the income arising from the transfer of an asset, being a ship which was leased by an unit of the International Financial Services Centre to a person, subject to the condition that the unit has commenced operation on or before the 31st day of March, 2024 shall also be eli....