10a & 10aa

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 November 2014 An Unit was establised in 2009 in STPI and claiming 10A accordingly. Suddenly Govt declared that 10A will not applicable from the AY 2012-2013 and the unit registered under SEZ can claim 10AA instead of 10A. In 10AA there is a clause that an unit claiming deduction in 10A can claim 10AA for rest of the holiday period. So can the STPI unit claim 10AA in AY 2012-13 & onwards.

Swanand

Swanand (Expert)
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17 November 2014 There was a Sunset clause for Income Tax exemption for STPI Units. Under which Income Tax Exemption for STPI had been ended on 31/03/2010. Hence STPI can not claim exemption under sec. 10 AA. It is not all of sudden, Government had announced sun set clause for STPI on its inception only.