Income Tax Act, 1967.

Chapter IV

Profits from Export of Certain Goods

Definitions generally.

398.—In this Chapter—

“basis period” means the period on the profits or gains of which income tax in respect of a company's trade is finally computed under Case I of Schedule D for the year of claim;

“company” means (save for the purposes of the proviso to section 399 (1)) a body corporate which in the course of its trade exports goods out of the State.