(2)The deduction specified in sub-section (1) may, at the option of the assessee, be claimed by him for any ten consecutive assessment years out of fifteen years beginning from the year in which the undertaking or the enterprise develops and begins to operate any infrastructure facility or starts providing telecommunication service or develops an industrial park [[or develops a special economic zone] [Inserted by Act 20 of 2002, Section 33 (w.e.f. 1.4.2003).][referred to in clause (iii) of sub-section (4)] [Inserted by Act 20 of 2002, Section 33 (w.e.f. 1.4.2003).] or generates power or commences transmission [or distribution of power or undertakes substantial renovation and modernisation of the existing transmission or distribution lines] [ Inserted by Act 23 of 2004, Section 17 (w.e.f. 1.4.2005).] [* * *] [ The words " or lays and begins to operate a cross country natural gas distribution network" omitted by Act 33 of 2009, Section 36 (w.e.f. 1.4.2010).]:[Provided that where the assessee develops or operates and maintains or develops, operates and maintains any infrastructure facility referred to in clause (a) or clause (b) or clause (c) of the Explanation to clause (i) of sub-section (4), the provisions of this sub-section shall have effect as if for the words "fifteen years", the words "twenty years" had been substituted.] [ Substituted by Act 14 of 2001, Section 44, for the proviso (w.e.f. 1.4.2002).][(2-A) Notwithstanding anything contained in sub-section (1) or sub-section (2), the deduction in computing the total income of an undertaking providing telecommunication services, specified in clause (ii) of sub-section (4), shall be hundred per cent. of the profits and gains of the eligible business for the first five assessment years commencing at any time during the periods as specified in sub-section (2) and thereafter, thirty per cent. of such profits and gains for further five assessment years.] [ Inserted by Act 14 of 2001, Section 44 (w.e.f. 1.4.2001).]
