Tax Treatment for unit situated at Seepz
This query is : Resolved
21 July 2011
Dear Sir's & Friends,
We have a unit at Seepz & our unit books Forward Contract against Exports. Sometimes this Forward Contract gets unutilised. My question is will profit or loss incurred on cancellation of such forward contract will liable to Tax even if the unit is enjoying tax holidays U/s. 10A.
Regards,
Yajuvendra Rawat
We have a unit at Seepz & our unit books Forward Contract against Exports. Sometimes this Forward Contract gets unutilised. My question is will profit or loss incurred on cancellation of such forward contract will liable to Tax even if the unit is enjoying tax holidays U/s. 10A.
Regards,
Yajuvendra Rawat
22 July 2011
If it relates to your business for which exemption is available then No otherwise if it is only trading then yes.
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