Amendment of section 80LA

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..... hall , the words this clause, aircraft and ship shall shall be substituted. - Clause 23 seeks to amend section 80LA of the Income-tax Act relating to deductions in respect of certain incomes of Offshore Banking Units and International Financial Services Centre. Sub-section (1A) of the said section, inter-alia, provides that where the gross total income of an assessee, being a Unit of an Internatio .....

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..... sub-section (1A). It is proposed to amend clause (d) of sub-section (2) of the said section to provide that the income arising from the transfer of an asset, being a ship which was leased by an unit of the International Financial Services Centre to a person, subject to the condition that the unit has commenced operation on or before the 31st day of March, 2024 shall also be eligible for deduction .....

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