Amendment of section 80HHC

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..... ng with the words "Provided that", the following shall be substituted, namely :- "deduction equal to the aggregate of- (a) four per cent. of the net foreign exchange realisation; and (b) fifty per cent. of so much of the profits derived by the assessee from the export of such goods or merchandise as exceeds the amount referred to in clause (a) : Provided that the deduction under this sub-s .....

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..... be inserted, namely: - '(c) "net foreign exchange realisation" means the total free on board value of exports out of India of goods and merchandise, to which this section applies as reduced by the aggregate of the cost, insurance and freight value of all categories of import licences, to be issued by the Chief Controller of Imports and Exports, Government of India, to which the assessee is e .....

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