TAX HOLIDAY
This query is : Resolved
Sankar Paranam
(Querist)
06 July 2009
Dear all
XYZ SOFTWARE PVT LTD INCORPORATED IN FY 2004-05, AND ENJOYING THE TAX HOLIDAY U/S 10A.
What is the remaing tax holiday period unexpaired?
please guide mean
Thaning u
SANKAR PARANAM
XYZ SOFTWARE PVT LTD INCORPORATED IN FY 2004-05, AND ENJOYING THE TAX HOLIDAY U/S 10A.
What is the remaing tax holiday period unexpaired?
please guide mean
Thaning u
SANKAR PARANAM
07 July 2009
Hi,
U/s 10 A the tax holiday period is ten consecutive years. The deduction is allowable upto AY 2011-12 and not beyond. SO you have to calculate the unexpired tax holiday period based on this.
In your case tax holiday is eligible upto AY 2014-15 but the same will be withdrawn from AY 2011-12 as the cap for holiday period is stopped with that. Infact this was amended in the latest budget yesterday and hence you have the benefit upto AY 2011-12
U/s 10 A the tax holiday period is ten consecutive years. The deduction is allowable upto AY 2011-12 and not beyond. SO you have to calculate the unexpired tax holiday period based on this.
In your case tax holiday is eligible upto AY 2014-15 but the same will be withdrawn from AY 2011-12 as the cap for holiday period is stopped with that. Infact this was amended in the latest budget yesterday and hence you have the benefit upto AY 2011-12
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