Kaptommy (owner ) (39 Points)
20 February 2010I work over internet and earn foreigh exchange in Dollars in the mode of commission & incentives. there is no exchange of goods and all activities are done over internet.
The amount is paid to me in my own name.
Now the questions arises what formalities should i do so that i get 100 % deductions on my forex earnings i.e i dont have to pay any tax on my earnings.
sudarshan
(CA)
(745 Points)
Replied 20 February 2010
there is no exemption unless you have your unit set up in STP.
Kaptommy
(owner )
(39 Points)
Replied 26 February 2010
Can u pls explain one thing .. that suppose i open my company a proprietorsip firm in STPI (software & technology park of india ) on 15th march 2010. and my profit for the year 1 april 2010 to 31st march 2011is Rs 1 crore . what is my tax incidence. can i keep 100 % of this profit ? or if i need to pay any tax then how ill it be computed or what type of tax will i b required to pay ?
Thank you
CAclubindia
