The Income-tax Act, 1961
Bare Act
(1) Subject to the provisions of this section, in computing the total income of an assessee, being an entrepreneur as referred to in clause (j) of section 2 of the Special Economic Zones Act, 2005, from his Unit, who begins to manufacture or produce articles or things or provide any services during the previous year relevant to any assessment year commencing on or after the 1st day of April, 2006, a deduction of
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Simplified Act
(1) If you are a business owner who has started manufacturing or providing services in a Special Economic Zone (SEZ) after April 1, 2006, you can reduce your taxable income by the… Read the complete text with KanoonGPT Pro.
Explanation using examples
Imagine a company, XYZ Pvt Ltd, which has set up a software development unit in a Special Economic Zone (SEZ) in the financial year 2021-22. As per Section 10AA of… Read the complete text with KanoonGPT Pro.
