Income Tax exemption - SEZ
This query is : Resolved
11 August 2021
we're moving existing offer and Assembly plant from rented preemies to newly constructed SEZ unit. the investment is 100% more then existing Asset. existing we have only employee, laptop and machine (which is "zero value")
Whether we're eligible for income tax exemption under Section 10AA, since the act says "SEZ unit is not formed by any splitting up, or the reconstruction of the business that is already in existence;"
Whether we're eligible for income tax exemption under Section 10AA, since the act says "SEZ unit is not formed by any splitting up, or the reconstruction of the business that is already in existence;"
CA R SEETHARAMAN
(Expert)
11 August 2021
You are not eligible as your business is already in existence.
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