Income tax applicability on profit earned in export sale
This query is : Resolved
C.S.SAVEESH.K.V.
(Querist)
18 August 2011
income tax applicability on profit earned in export sale other than special economic zone.
CA PARAS BAFNA
(Expert)
18 August 2011
Export Profits are now taxable.
.
Except SEZ undertakings, up to AY 2011-12, 100% EOU's are allowed deduction U/s 10B in respect to their export profits.
.
Experts are welcome to share information.
.
Except SEZ undertakings, up to AY 2011-12, 100% EOU's are allowed deduction U/s 10B in respect to their export profits.
.
Experts are welcome to share information.
U S Sharma
(Expert)
18 August 2011
prior to 31-03-2005, income derived from exports were eligible for deduction u/s 80HHC, from 01-04-2005, no such deduction available, and the export sales are ranked at par with local sales for income tax purpose.
C.S.SAVEESH.K.V.
(Querist)
18 August 2011
sir,
thanks for your answer, my client's business unit is not situated in SEZ or 100% EOU, i would like to know the tax applicability for foot wear manufacturing and exporting units, other than the above mentioned units.
thanks for your answer, my client's business unit is not situated in SEZ or 100% EOU, i would like to know the tax applicability for foot wear manufacturing and exporting units, other than the above mentioned units.
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