TMI BlogSpecial provisions in respect of newly established undertakings in free trade zone, etc. - Section 10AX X X X Extracts X X X X X X X X Extracts X X X X ..... profits and gains as derived by an undertaking from the export of certain articles or things or computer software for a period of 10 consecutive AYs beginning from the AY relevant to the PY in which the undertaking begins to manufacture or produce articles or things or computer software. Notes:- Where an undertaking located in any free trade zone and subsequently located in special econ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llowance Reserve Account and fulfillment of conditions relating thereto:- the amount credited should be utilised for the purpose of acquiring new machinery or plant which is first put to use before the expiry of a period of three years next following the previous year in which the reserve was created; and until the acquisition of new machinery or plant as aforesaid, for the purposes of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rtible forex within 6 months from the end of P.Y. (iv) Report in Form No.56F , along with the return of income Computation of Profits Profits of the business of the undertaking X Export Turnover Total turnover of the Undertaking Points to be noted: No deduction shall be allowed under Section 80HH or Section 80HHA or Section 80-I or Section 80-IA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rred to in clause (zc) of section 2 of the Special Economic Zones Act, 2005 , which has begun or begins to manufacture or produce articles or things or computer software during the previous year relevant to the assessment year commencing on or after AY 2006-07 in any Special Economic Zone. Notwithstanding anything contained in the foregoing provisions of this section, where the assessee, bef ..... X X X X Extracts X X X X X X X X Extracts X X X X
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