I have started my business in Aug 2022.
As per sec 10B/10BA of the income tax act if an taxpayer has exporting out of India of eligible articles or things then he will be eligible claim exemption under sec 10B/10BA.
I am selling the ebooks outside India.
Am I eligible to claim exemption under sec 10B/10BA.
Is the definition of article covers the ebooks also.
Is there any form to be filed for getting this benefit.
Please help me out this with reference to the act.
Menu
Clarification on applicability of sec 10B/10BA
Replies (1)
Per 10BA eligible articles or things have to be hand-made articles or things of artistic value that requires use of wood as the main raw material; apparently e-books are out of the purview of 10BA. Anyway, 10BA benefits are not available in 2022.
As it appears to me, s.10B benefit was available only for assessment year prior to the AY beginning on 01.04.2012. If they had been available it perhaps could have been argued that ebooks fall within ambit of customized electronic data and therefore fall within meaning of “Computer Software” to be eligible for exemption.
Author: Advocate Ravish Bhatt
Gmail: ravishdbhatt @ gmail.com
Link to Linkedln Profile: https://bit.ly/3IDGfsU
Recent Topics :
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
- ROC FILINGS FY2025-26
- Mismatch in 26AS
- How Can a Trader Utilise Approximately ₹1.20
Related Topics :
CAclubindia
