Income Tax Act, 2025
Section 6: Ins. by Act 21 of 2006, s. 5 (w.e.f. 12006).
6. Ins. by Act 21 of 2006, s. 5 (w.e.f. 12006).
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(2) This section applies to any undertaking which fulfils all the following conditions, namely:—
(i) it manufactures or produces any articles or things or computer software;
(ii) it is not formed by the splitting up, or the reconstruction, of a business already in existence:
Provided that this condition shall not apply in respect of any undertaking which is formed as a
result of the re-establishment, reconstruction or revival by the assessee of the business of any such
undertaking as is referred to in section 33B, in the circumstances and within the period specified in
that section;
(iii) it is not formed by the transfer to a new business of machinery or plant previously used for
any purpose.
Explanation.—The provisions of Explanation 1 and Explanation 2 to sub-section (2) of
section 80-I shall apply for the purposes of clause (iii) of this sub-section as they apply for the purposes of
clause (ii) of that sub-section.
(3) This section applies to the undertaking, if the sale proceeds of articles or things or computer
software exported out of India are received in, or brought into, India by the assessee in convertible foreign
exchange, within a period of six months from the end of the previous year or, within such further period
as the competent authority may allow in this behalf.
Explanation 1.—For the purposes of this sub-section, the expression “competent authority” means the
Reserve Bank of India or such other authority as is authorised under any law for the time being in force
for regulating payments and dealings in foreign exchange.
Explanation 2.—The sale proceeds referred to in this sub-section shall be deemed to have been
received in India where such sale proceeds are credited to a separate account maintained for the purpose
by the assessee with any bank outside India with the approval of the Reserve Bank of India.
1[(4) For the purposes of sub-section (1), the profits derived from export of articles or things or
computer software shall be the amount which bears to the profits of the business of the undertaking, the
same proportion as the export turnover in respect of such articles or things or computer software bears to
the total turnover of the business carried on by the undertaking.]
(5) The deduction under sub-section (1) shall not be admissible for any assessment year beginning on
or after the 1st day of April, 2001, unless the assessee furnishes in the prescribed form, along with the
return of income, the report of an accountant, as defined in the Explanation below sub-section (2)
of section 288, certifying that the deduction has been correctly claimed in accordance with the provisions
of this section.
(6) Notwithstanding anything contained in any other provision of this Act, in computing the total
income of the assessee of the previous year relevant to the assessment year immediately succeeding the
last of the relevant assessment years, or of any previous year, relevant to any subsequent assessment
year,—
(i) section 32, section 32A, section 33, section 35 and clause (ix) of sub-section (1) of
section 35 shall apply as if every allowance or deduction referred to therein and relating to or
allowable for any of the relevant assessment years 2[ending before the 1st day of April, 2001], in
relation to any building, machinery, plant or furniture used for the purposes of the business of the
undertaking in the previous year relevant to such assessment year or any expenditure incurred for the
purposes of such business in such previous year had been given full effect to for that assessment year
itself and accordingly sub-section (2) of section 32, clause (ii) of sub-section (3) of section 32A,
clause (ii) of sub-section (2) of section 33, , sub-section (4) of section 35 or the second proviso to
clause (ix) of sub-section (1) of section 36, as the case may be, shall not apply in relation to any such
allowance or deduction;
This section applies to any undertaking which fulfils all the following conditions, namely:—
it manufactures or produces any articles or things or computer software;
it is not formed by the splitting up, or the reconstruction, of a business already in existence:
Provided that this condition shall not apply in respect of any undertaking which is formed as a
result of the re-establishment, reconstruction or revival by the assessee of the business of any such
undertaking as is referred to in section 33B, in the circumstances and within the period specified in
that section;
it is not formed by the transfer to a new business of machinery or plant previously used for
any purpose.
Explanation.—The provisions of Explanation 1 and Explanation 2 to sub-section
of
section 80-I shall apply for the purposes of clause
of this sub-section as they apply for the purposes of
clause
of that sub-section.
This section applies to the undertaking, if the sale proceeds of articles or things or computer
software exported out of India are received in, or brought into, India by the assessee in convertible foreign
exchange, within a period of six months from the end of the previous year or, within such further period
as the competent authority may allow in this behalf.
Explanation 1.—For the purposes of this sub-section, the expression “competent authority” means the
Reserve Bank of India or such other authority as is authorised under any law for the time being in force
for regulating payments and dealings in foreign exchange.
Explanation 2.—The sale proceeds referred to in this sub-section shall be deemed to have been
received in India where such sale proceeds are credited to a separate account maintained for the purpose
by the assessee with any bank outside India with the approval of the Reserve Bank of India.
1[
For the purposes of sub-section
The deduction under sub-section
shall not be admissible for any assessment year beginning on
or after the 1st day of April, 2001, unless the assessee furnishes in the prescribed form, along with the
return of income, the report of an accountant, as defined in the Explanation below sub-section
of section 288, certifying that the deduction has been correctly claimed in accordance with the provisions
of this section.
Notwithstanding anything contained in any other provision of this Act, in computing the total
income of the assessee of the previous year relevant to the assessment year immediately succeeding the
last of the relevant assessment years, or of any previous year, relevant to any subsequent assessment
year,—
section 32, section 32A, section 33, section 35 and clause
of sub-section
of
section 35 shall apply as if every allowance or deduction referred to therein and relating to or
allowable for any of the relevant assessment years 2[ending before the 1st day of April, 2001], in
relation to any building, machinery, plant or furniture used for the purposes of the business of the
undertaking in the previous year relevant to such assessment year or any expenditure incurred for the
purposes of such business in such previous year had been given full effect to for that assessment year
itself and accordingly sub-section
of section 32, clause
of sub-section
of section 32A,
clause
of sub-section
of section 33, , sub-section
of section 35 or the second proviso to
clause
of sub-section
of section 36, as the case may be, shall not apply in relation to any such
allowance or deduction;