India - Income Tax Act 2010 - Saarc

S. 80HHD I.T. ACT, 1961 1.43295[(baa) “profits of the business” means the profits of the business as computedunder the head “Profits and gains of business or profession” asreduced by—(bb) 98 [***](1) ninety per cent of any sum referred to in clauses (iiia), (iiib)96[, (iiic), (iiid) and (iiie)] of section 28 or of any receipts by way ofbrokerage, commission, interest, rent, charges or any other receiptof a similar nature included in such profits 97 ; and(2) the profits of any branch, office, warehouse or any otherestablishment of the assessee situate outside India ;]99[ 1 [(c)] “Export House Certificate” or “Trading House Certificate” means avalid Export House Certificate or Trading House Certificate, as thecase may be, issued by the Chief Controller of Imports and Exports,Government of India ;1[(d)] “supporting manufacturer” means a person being an Indian companyor a person (other than a company) resident in India, 2 [manufacturing(including processing) goods] or merchandise and selling such goodsor merchandise to an Export House or a Trading House for thepurposes of export;]3[(e) “special economic zone” shall have the meaning assigned to it inclause (viii) of the Explanation 2 to section 10A.]4[Deduction in respect of earnings in convertible foreign exchange.80HHD. (1) Where an assessee, being an Indian company or a person (otherthan a company) resident in India, is engaged in the business of a hotelor of a tour operator, approved by the prescribed authority 5 in this behalf or of95. Inserted by the Finance (No. 2) Act, 1991, w.r.e.f. 1-4-1987.96. Substituted for “and (iiic)” by the Taxation Laws (Amendment) Act, 2005, w.r.e.f.1-4-1998.97. For the meaning of expression “such profits”, see Taxmann’s Direct Taxes Manual,Vol. 3.98. Omitted by the Finance (No. 2) Act, 1991, w.e.f. 1-4-1991. Prior to its omission, clause (bb)was inserted by the Finance Act, 1990, w.e.f. 1-4-1991.99. Inserted by the Finance Act, 1988, w.e.f. 1-4-1989. Clause (c) was earlier omitted by theDirect Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989. Original clause (c) was insertedby the Taxation Laws (Amendment & Miscellaneous Provisions) Act, 1986, w.e.f. 1-4-1987.1. Relettered by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989.2. Substituted for “manufacturing goods” by the Finance Act, 1990, w.e.f. 1-4-1991.3. Inserted by the Finance Act, 2003, w.e.f. 1-4-2004.4. Inserted by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989.5. The prescribed authority under rule 18BBA(5) is Director General, Directorate Generalof Tourism, Government of India.