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Stri income tax benefit

CA Swati Chechani (accounts excutive) (63 Points)

04 February 2014

Hello,

Is there any benifit or complation on taking registration in STPI (Software technology park of india) ????

my workplace is software technology web development firm & receiving INR from abrod (uk)

Thnx

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5 Replies

Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)
Replied 04 February 2014

The benefits available under section 10A on export turnover on being a member of STPI has been withdrawn from 1.4.11.

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CA Swati Chechani (accounts excutive) (63 Points)
Replied 04 February 2014

@ Dipjyoti majumdar

So now there is no income tax benifit of STPI & what about LAW compliance or Registration

Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)
Replied 04 February 2014

You can still take registration. This will help you in ways like reduction in customs duty on imports, remission in excise duties on manufacture of items, sales tax relaxation etc. If you are registered you will have to send them monthly reports, quarterly returns and annual return.

The major hindrance is on being registered you need to take prior permission on domestic invoices. That is a big no no considering absence of 10A benefits.

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CA Swati Chechani (accounts excutive) (63 Points)
Replied 04 February 2014

Ya...... Dipjyoti majumdar I Agree with ur point about permission on domestic services invoices i think permission is on some % basis bt Plz tell me will it be benificial if we r providing services in abroad as well as in domestic market also & what will be the registration process, To whom will we have to contact about that.....

Thnx