Amendment of section 80-IA

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....sessee includes any profits and gains derived by an undertaking or an enterprise from any business referred to in sub-section (4) (such business being hereinafter referred to as the eligible business), there shall, in accordance with and subject to the provisions of this section, be allowed, in computing the total income of the assessee, a deduction of an amount equal to hundred per cent. of profi....

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.... (2), the deduction in computing the total income of an undertaking providing telecommunication services, specified in clause (ii) of sub-section (4), shall be hundred per cent. of the profits and gains of the eligible business for the first five assessment years commencing at any time during the periods as specified in sub-section (2) and thereafter, thirty per cent. of such profits and gains for....

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....n agreement with the Central Government or a State Government or a local authority or any other statutory body for (i) developing or (ii) operating and maintaining or (iii) developing, operating and maintaining a new infrastructure facility ;" ; (ii) for the Explanation, the following Explanation shall be substituted with effect from the 1st day of April, 2002, namely :- 'Exp....

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....or after the 1st day of April, 1995, but on or before the 31st day of March, 2003 ;" ; (iv) in clause (iii),- (A) after the words "an industrial park", the words "or special economic zone" shall be inserted with effect from the 1st day of April, 2002 ; (B) for the words, figures and letters "the 31st day of March, 2002", the words, figures and letters "the 31st day of Ma....