Dear All,
Just wanted to confirm that whether a Company covered under Sec 10B is entitled to 100% ta benifit or is entitled to 90% tax benifit as was laid down in the Act w.e.f. A.Y. - 2004-05 and i am not able to find any circular as to withdrawl of the same back to 100% for later Assessment years. Whereas in the Income Tax reckoner it is mentioned as 90% deduction is applicable only for A.Y. 2004-05
Waiting for your replies
with best regards
Anurag
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Deduction u/s 10B
Replies (2)
The comapny is entitle for 100% benefit
Exemption U/s 10B reduced from 100% to 90% from A/Y 1/4/2003. This is applicable to all companies whether new or old.
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