Tax Exemption

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S Menon (Querist)
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16 July 2010 Dear Sir/Madam

A company got the licence under SEZ (100% EOU) on December 2010, but it was carrying the export business from the beginning of the year. Is it possible to get tax exemption for the entire profit. i;e for the profit made during the year April 2010 to March 2011? Or the exemption will be applicable only for the profit made after the 100% EOU licence i;e from December 2010 till March 2011?

Thanks
Smenon

Srikant

Srikant (Expert)
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16 July 2010 Exemption shall be available from the date of confirmation by Dept ( i.e date of issue of Licence).

You cannot claim exemption for the transaction before that.