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Explain the provisions of Section 80LA. |
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Answer» 1. Who can claim: Offshore Banking Unit/ International financial services Centre 2. Nature of deduction: Income from i) Offshore Banking Unit in SEZ. ii) Business with an undertaking locatedin SEZ. iii) Any Unit of ISC from its business. 3. Amount of Deduction: 100% of such income for 5 years, 50% such income for next 5 years. |
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