Amendment of section 10A

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..... in computing the total income of an undertaking, which begins to manufacture or produce articles or things or computer software during the previous year relevant to any assessment year commencing on or after the 1st day of April, 2003, in any special economic zone, shall be,- (i) hundred per cent of profits and gains derived from the export of such articles or things or computer software for a pe .....

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..... own in sub-section (1B) . (1B) The deduction under clause (ii) of sub-section (1A) shall be allowed only if the following conditions are fulfilled, namely:- (a) the amount credited to the Special Economic Zone Re-investment Allowance Reserve Account is to be utilised- (i) for the purposes of acquiring new machinery or plant which is first put to use before the expiry of a period of three years .....

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..... than those referred to in sub-section (1B) , the amount so utilised; or (b) has not been utilised before the expiry of the period specified in sub-clause (i) of clause (a) of sub-section (1B) , the amount not so utilised, shall be deemed to be the profits,- (i) in a case referred to in clause (a) , in the year in which the amount was so utilised; or (ii) in a case referred to in clause (b) , .....

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..... ", the words, figures and letters "ending before the 1st day of April, 2001", shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2001; (e) after sub-section (7) , the following sub-section shall be inserted with effect from the 1st day of April, 2004, namely :- "(7A) Where any undertaking of an Indian company which is entitled to the deduction unde .....

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..... n shall be inserted at the end with effect from the 1st day of April, 2004, namely :- 'Explanation 4-For the purposes of this section, "manufacture or produce" shall include the cutting and polishing of precious and semi-precious stones.'. - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementindia - taxmanagement .....

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