Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / pallavi
10A. Special provision in respect of newly established
undertakings in free trade zone, etc.
(1) Subject to the provisions of this section, a deduction
of such profits and gains as are derived by an undertaking
from the export of articles or things or computer software
for a period of ten consecutive assessment years beginning
with the assessment year relevant to the previous year in
which the undertaking begins to manufacture or produce such
articles or things or computer software, as the case may
be, shall be allowed from the total income of the
assessee :
Provided that where in computing the total income of the
undertaking for any assessment year, its profits and gains
had not been included by application of the provisions of
this section as it stood immediately before its
substitution by the Finance Act, 2000, the undertaking
shall be entitled to deduction referred to in this sub-
section only for the unexpired period of the aforesaid ten
consecutive assessment years :
Provided further that where an undertaking initially
located in any free trade zone or export processing zone is
subsequently located in a special economic zone by reason
of conversion of such free trade zone or export processing
zone into a special economic zone, the period of ten
consecutive assessment years referred to in this sub-
section shall be reckoned from the assessment year relevant
to the previous year in which the undertaking began to
manufacture or produce such articles or things or computer
software in such free trade zone or export processing
zone :
Provided also that for the assessment year beginning on the
1st day of April, 2003, the deduction under this sub-
section shall be ninety per cent of the profits and gains
derived by an undertaking from the export of such articles
or things or computer software:
Provided also that no deduction under this section shall be
allowed to any undertaking for the assessment year
beginning on the 1st day of April, 2010, and subsequent
years.
(1A) Notwithstanding anything contained in sub-section (1),
the deduction, in computing the total income of an
undertaking, which begins to manufacture or produce
articles or things or computer software during the previous
year relevant to any assessment year commencing on or after
the 1st day of April, 2003, in any special economic zone,
shall be hundred per cent of profits and gains derived from
the export of such articles or things or computer software
for a period of five consecutive assessment years beginning
with the assessment year relevant to the previous year in
which the undertaking begins to manufacture or produce such
articles or things or computer software, as the case may
be, and thereafter, fifty per cent of such profits and
gains for further two assessment years.
| Is This Answer Correct ? | 8 Yes | 1 No |
Post New Answer View All Answers
if any civil contractor provide service to education institute, then there is an exemption for service tax liability, and he should be quoted it on its invoice, can u provide me sample invoice formats
If the the material sent for job work in outside state for job work ,what should be service tax chargeable or not if material receipt after job work done to job worker kindly suggestion
what difference in motvat & cenvat? and why this prepared?
Kindly, tell me abount the WCT of U.P. material & labour supply for installment of lift in premises at Noida (U.P.), our lift supplier giving the bill in 90% material & 10% Labour & charged the up vat of 12.5% , Can we liable for WCT deductor ?
how to calculated all taxes their information in details
can TDS be deducted(in Jharkhand) from the bill of a supplier who supplies goods from Delhi to Jharkhand taxable @12.5% under jharkhand VAT ACT?Whether Entry tax is also deductible in this case
Please tell me the rate of service tax of Transportation and the who is liable to deposit the Service Tax, the receiver of service or provider the service
WHAT IS MEANT BY CST? DO THE SUPPLIER CLAIM CST 2% FROM THE PURCHASER? WHAT ARE ALL THE RULES TO BE FOLLOW WHILE THE BUYER PURCHASE A 'C'FORM FROM THE CTO?
How We know we are liable for Profession Tax liability. I have an optics shop & I want PT Number so what should i do?
how to calculate of FBT with example & what is Rate
WE purchase Firewell for our office Rs.26500/- the vendor charge 5% vat on 26500=1325 and S.Tax 14.5% on 26500/- =3843 is it is possible please clarify
is a pvt ltd. comp. can give advance against salary to his director.
What is the SEZ formalties in cement Industry?
what do you mean by cenvat? and in which is liable?
If forth alphabet is f then what is TDS percentage ?
