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Exemption limit

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(Querist)
01 November 2011 does a service provider get the basic exemption limit of rs10lacs every year or only in the first year???
plz advice..urgent
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
01 November 2011 basic exemption limit of rs.10lacs will available only one time.
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Sundaram Kumar

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Sundaram Kumar (Expert)
02 November 2011 Yes Basic exemption can be availed one time but the business is not exceed the turnover of 10 lakhs for the year, it can continue for next year
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