Ssi unit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 March 2012
i would like to know that, if my client float a partnership firm as SSI Unit, does he gets income tax exemption.
10 March 2012
Basic exemption of Rs.1,80,000/- would not be available to partnership firm.
.
However; whatever he will receive from the partnership firm as remuneration and interest; shall be considered for exemption upto the basic limit.
.
However; whatever he will receive from the partnership firm as remuneration and interest; shall be considered for exemption upto the basic limit.
02 April 2012
Yes if the partnership firm is a SSI then all benefits available u/s 80HH, 80I, 80IA and other shall be available to the unit provided it does not manufacture the articles as listed under Schedule Xiv
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