Applicability of Sections 10A and 10B

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Tosh K Toshniwal (Querist)
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22 September 2009 Kindly guide us on whether the I T exemption for a Unit registered under STP Scheme should be claimed under Section 10A or Section 10B?

CA Puneet Jethliya

CA Puneet Jethliya (Expert)
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22 September 2009 under section 10A a unit registered under STP scheme can claim deduction u/s 10A if the following conditions satisfied.

under this section : "Profits and gains derived by a newly established undertaking from the export of articles or things or computer software qualifies for deduction, provided the undertaking must be located in FTZ, EPZ, EHTP, STP, notified by the CENTRAL GOVT.

the deduction is available in respect of profits derived from the EXPORT of the specified goods for a period of 10 consecutive A.Y.

such assessee cannot further claim such profits in any other section of the income tax act

such deduction can be computed on the following basis :
export turnover of the undertaking * profits of the business of the undertaking/total turnover of the undertaking.

the sale proceeds should be received in or brought to india within six months from the end of the P.Y.

Tosh K Toshniwal

Tosh K Toshniwal (Querist)
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22 September 2009 Thanks for the response Puneet. Does it mean that the Units which are not located in the premises of any Software Technology Park but are located elsewhere and are registered under STP Scheme need to claim the deduction under Section 10B?

chetan soni

chetan soni (Expert)
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22 September 2009 no they need to claim this in u/s 10A only.

Tosh K Toshniwal

Tosh K Toshniwal (Querist)
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23 September 2009 Thanks Chetan.

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