Hi All,
This is regarding 10A exemption:
our client is providing software services/export of software services. They are having 2 divisions i.e STPI & Not STPI divisions. for the year AY 2009-10 STPI Divsion was having around 25 laks profit and Non-STPI division having loss of 12 lakhs.
For calculating exemption, in the formula it is given : profits of the business/Total Tunrover *Export Turnover.
Here profits of the business means 25 lakhs or 13 lakhs (i.e 25-12 lakhs).
pls can someone can explain with provisions of the act and case laws if any?
CAclubindia
