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Taxation rules in sikkim


vishal kumar jha (student)     06 September 2013

vishal kumar jha
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Hello everyone,

I am a CA student and would like to know about the taxation system in Sikkim State of India. Please let me know.

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Saurabh Maheshwari (B.com,ACA)     06 September 2013

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We can say Sikkim as a Tax free state of India.....

As per Sec 10(26AAA) any Income derived by Sikkimese Individual from the a Sate of Sikkim is fully exempt

Further, all type Interest on securities received by Sikkimese Individual is always exempt in his/her hands.......

Sikkimese Individual is a person whose name is being recorded  in the register maintained by State of Sikkim...

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vishal kumar jha (student)     06 September 2013

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Originally posted by : vishal kumar jha

Hello everyone,

I am a CA student and would like to know about the taxation system in Sikkim State of India. Please let me know.


 

if a CA firm of delhi goes and start rendering service in Sikkim state. will the firm's income be exempt too??

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Saurabh Maheshwari (B.com,ACA)     06 September 2013

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No Vishal....exemp is only to individual that too Sikkimese indiv who is registered as such and his name is appearing in a separate reg maintained by Sikkim Govt...

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vishal kumar jha (student)     06 September 2013

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sir please tell me one more thing,

if we start a partnership firm in sikkim with majority of sikkimese partner's, will income of the partnership firm be exempt???

 

what about the company?? if i start a company with more than 51% of shareholders of sikkim, will the income of the company be exempt??

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Saurabh Maheshwari (B.com,ACA)     06 September 2013

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See Vishal, it is again clarified that exemp u/s 10(26AAA) only and only to an individual .....and not to any firm/company etc.....Firm having Sikkimese Persons as a Partner doesn't make that firm Sikkimese and as such no benefit to any entity except individual...

Zigmee (Engineer)     23 July 2014

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I am a resident of Sikkim currently working at a PSU in Hyderabad.

Am i eligible for  Exepmtion of Income Tax in any form?

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CA Yash Marda (Chartered Accountant)     19 February 2019

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No, Only Income derived within Sikkim is exempt. Sikkimese working outside Sikkim is not tax exempt.


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