#section 10a

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Section 10A exemption- Approvals given by Directors of STPI is valid

Section 10A exemption- Approvals given by Directors of STPI is valid

Mentor Graphics (Noida) P. Ltd., Vs. DCIT (ITAT Delhi), ITA No. 2423/Del/2010, Dated- 18th February, 2015

Assesee claimed deduction of Rs. 1.33 crores under Section 10A of the Act. On being called upon to explain about the eligibility of deduction, the assessee stated that it was entitled to deduction in view of fulfillment of all the requisite conditions as prescribed under Section 10A. (more…)

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Income & Wealth Tax Issues in SEZ assessment & need for review

Income & Wealth Tax Issues in SEZ assessment & need for review

1. No time limit for realisation of exports proceeds

The intent of enactment of sections 10A/10B/10BA/10AA in the Income Tax Act, 1961 is to encourage exports which in turn would infuse the economy with foreign currency remittances.

Timely ‘foreign currency remittances’ into India is the underlying intent spelt out in section 10A, section 10B and section 10BA. However, no such provision was made…

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Sec 10AA - Employee Transfer limit (From STPI/Other Units to SEZ) increased to 50%

Sec 10AA – Employee Transfer limit (From STPI/Other Units to SEZ) increased to 50%

F.No.178/84/2012-ITA.I GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES NEW DELHI

Dated: October 8, 2014

CIRCULAR NO 14/2014

Subject: Clarification regarding allowability of deduction under section 10A/10AA on transfer of Technical Man-Power in the case of software industry.

CBDT had issued Circular No.12/2014 dated 18th July, 2014 to clarify that mere…

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Clarification regarding allowability of deduction under section 10A/10AA on transfer of Technical Man-power in the case of software industry

Clarification regarding allowability of deduction under section 10A/10AA on transfer of Technical Man-power in the case of software industry

MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES NEW DELHI

Circular No. 12/2014, Dated: July 18, 2014

Subject:- Clarification regarding allowability of deduction under section 10A/10AA on transfer of Technical Man-power in the case of software industry.

Section 10AA of the Income-tax Act, 1961, inter-alia, provides for deduction in respect of the profits derived by a unit…

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CBDT clarification on export of computer software

CBDT clarification on export of computer software

CBDT INSTRUCTION NO 3/2014, Dated: March 14, 2014

Issues relating to export of computer software- Direct tax benefits- Clarification-reg

A clarificatory Circular No. 01/2013 dated 17.01.2013 was issued by CBDT to address various contentious issues leading to tax disputes in cases of entities engaged in export of computer software which are availing tax-benefits under sections 10A, 10AA and 10B of…

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AO to follow clarification on export of computer software Direct tax benefits -CBDT

INSTRUCTION NO. 17/2013,  DATED 19-11-2013

A clarificatory Circular No. 01/2013, dated 17-1-2013(hereinafter referred to as ‘Circular’) was issued by CBDT to address various contentious issues leading to tax disputes in cases of entities engaged in…

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Circular on Sections 10A, 10AA, 10B and 10BA - Related to set off and carry forward of losses

Circular No.  07/DV/2013, Dated : July 16, 2013

Sub: Circular on Sections 10A, 10AA, 10B and 10BA.

It has been brought to the notice of the Board that the provisions of 10A/10AA/10B/10BA of the Income-tax Act, with regard to applicability of Chapter IV of…

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