Tax on Export Profits

Tax planning 1231 views 2 replies

Sir,

I am managing a private ltd., company engaged in export of services. 99% of our income come from export services. We commenced business in the year 2004 and registered under STPI. Until the last financial year we had the benefit of 10A, 10B and were exempted from paying Income Tax and we are assessed on this basis. Even for the last AY 2010-11, we had a refund from IT on TDS paid on pur behalf by banks.

We now understand that 10A & 10B is no longer applicable but we continue to export.

Is there any provision as per IT Act for claiming rebate on Taxes payable for the financial year 2011-12, i.e., AY 2012-13?

Kindly guide .

Thanks.

Venkataramani

Replies (2)

I think you have used up the maximum available deductions to an enterprise which is 5 AY's hence, i strongly feel that there shall not be any more rebate available.

agree with above maximum 5 year you can take the benefit


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