India CBDT relaxes rules for new software businesses set up in special economic zone

India’s Central Board of Direct Taxes on October 8 announced in Circular 14/2014 that a new software or IT service unit established by a taxpayer in the special economic zone will qualify for the section 10A/10AA profit-linked deduction as long no more than 50 percent the new unit’s manpower was transferred from the taxpayer’s existing business. The previous threshold was 20 percent. See, India Income Tax Department.