Clause 4 , 26AAA of Section 10
This query is : Resolved
23 March 2021
Hi, As per this provision, Sikkim Subjects are exempted from IT on income
1. Accruing or arising from any source in Sikkim
2. Dividend and interest on securities
My friend has a bakery in Sikkim , presently marketing ONLY IN SIKKIM and also paying Regular GST.
He now intends to supply to neighbouring state of West Bengal and North Eastern states. My Queries : 1. Will he be entitled to the Income Tax Exemption even if he is supplying to other states ?
2. In future, he intends to start a unit in West Bengal too. Will he have to pay Income Tax on Income from that source ?
Thanks and regards.
1. Accruing or arising from any source in Sikkim
2. Dividend and interest on securities
My friend has a bakery in Sikkim , presently marketing ONLY IN SIKKIM and also paying Regular GST.
He now intends to supply to neighbouring state of West Bengal and North Eastern states. My Queries : 1. Will he be entitled to the Income Tax Exemption even if he is supplying to other states ?
2. In future, he intends to start a unit in West Bengal too. Will he have to pay Income Tax on Income from that source ?
Thanks and regards.
28 November 2021
YES, TAX LIABILITY WILL ARISE IN BOTH THE CASES.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- MP Minimum Wages Act
- Clarification on Old to new regime - 10-IEA
- Capital gains-24.06.2025
- FNO transaction not reflecting AIS
- AIS reflecting Aggregate interest on kvp, not accrued .
- Expenses related
- Return forms related
- RODTEP Annual Return
- Regarding to Relinquishment of Rights
- TWO GST REGISTRATION FOR SAME BUSINESS
- Accounting For Mediclaim Reimbursement To Employees
- PTEC Name Change
- GSTR 1 filled with 40 lakh tax liability but GST 3B filed with nil taxable value
- Regarding Interest on Enhanced Compensation
- Whether in Notes to accounts shown as
- New GST Registration with 02 company
- In elgible ITC claimed in FY 2021-22 & 2022-23 is it to be paid through DRC03 or to reverse it
- Rent agreement prior to incorporating a Company
- ITC 04 for Job work
- Best book for knowledge gain
Trending Online Classes
-
Live Course on EPF & ESI Act - Mastercourse(With Govt Certificate)
Mr.Balamurugan Ranganathan16 June 2025
CAclubindia
