i am in IT Company , we have invested in STPI unit but now when we want ta take tax benifit against this many consultant says that the benifit could be taken only upto ten years from company registration. we have invested in between so we can not take benifit as we have already completed 10 years is this correct ?
23 March 2009
The STPI benefit is available u/s 10A.
The deduction u/s 10A is allowed for such profits and gains as are derived from the export of article or things for a period of 10 years begining with the assessment year relevant to the previous year in which the undertaking begins manufracture or produce such article or things or computer software. It means the deduction is available for consecutive 10 assessment year from the year in which the actual production or manufacture begins.
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