Exemption U/s 10B

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ALPA Sukhia (Querist)
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22 December 2008 An 100% EOU unit has made direct exports and also Deemed exports (i.e. export through an export house again an 100% eou unit, under Form H).

Is the deemed export also qualifies for the exemption under section 10B?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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22 December 2008 According to my view deemed exports will not get section 10B benefit because its proceeds are received in indian currency which is against one of the conditions of section 10B which says that the proceeds should be in convertible foreign exchange.