19. Exemption from income tax of the profits and income of any company engaged in non-plantation agricultural activities

The profits and income within the meaning of paragraph (a) of section 3 (other than any profits and income from the sale of capital assets), of any company from any specified undertaking referred to in subsection (2) which commences business on or after April, 1 2000, shall notwithstanding the provisions of section 40 be exempt from income tax for a period of ten years reckoned from the commencement of the year of assessment in which such company commences to carry on business.

For the purposes of subsection (1) “specified undertaking” in relation to any company is an undertaking carried on by such company and which is engaged in—