Insertion of new section 89A

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....(1) Where the export turnover of an assessee, being - (a) an Indian company, or (b) a person (other than a company) who is resident in India, during any previous year relevant to an assessment year in relation to which this section applies, exceeds by more than ten per cent. his export turnover during the corresponding base year, the assessee shall be entitled to a deduc....

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....83, and the four assessment years next following that year. (3) The goods or merchandise referred to in the Explanation to sub-section (1) (including the destination of their export) and the rate at which the amount of deduction under that sub-section shall be calculated, shall be such as may be specified by the Central Government in this behalf by notification in the Official Gazette. ....

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....t of profits and gains derived from the export of such goods or merchandise out of India. Explanation : For the purposes of this sub-section, the amount of income-tax otherwise payable by the assessee for an assessment year on the profits and gains derived from the export of such goods or merchandise out of India shall be - (a) in a case where the total income for that assessment....