in Section 10AA of the Act and therefore, it is entitled for a claim of deduction under Section 10AA in this year. Our comments The issue with respect to the denial of deduction under Section 10AA in subsequent years when it was allowed in the first assessment year has been a matter of debate before the Courts. 10AA. (1) Subject to the provisions of this section, in computing the total income of an assessee, being an entrepreneur as referred to in clause (j) of section 2 of the Special Economic Zones Act, 2005, from his Unit, Disallowance of claim u/s 10AA - SEZ unit - Scope of the term "Service" - trading activity - he assessee is eligible for deduction u/s 10AA on the profits derived by SEZ Unit in respect of trading activity of importing the goods for reexport. Jim Rohn Motivation - 10 Things You MUST Improve EVERYDAY To Get Whatever You Want - Duration: 23:45. Tony Robbins Daily 340,753 views As per the proposed explanation, the deduction is to be allowed from the total income before giving effect to section 10AA and the said deduction shall not exceed the total income of the taxpayer. Implication of the Proposed Amendment To Buy DVDs / Pen Drive contact at : @ Delhi : 011-45695551 @ Gorakhpur : +91-7052208065 @ Mobile : +91-9889004575 @ mail id : dilipbadlani1@gmail.com Clause 7 of the Bill seeks to amend section 10AA of the Income-tax Act relating to special provisions in respect of newly established Units in Special Economic Zones. Under the existing provisions of the said section,
25 Aug 2018 B. Section 10AA – Special provisions in respect of newly established Units (ix) No deduction shall be allowed under Section 80HH or Section Deduction under section 10AA will, be available if the total value of the second 7 Dec 2019 Deduction u s 10AA SEZ unit exemption in respect to sale of other SEZ Units instead of direct export such sales cannot be included in export
Income tax benefit or Section 10AA deduction is available to SEZ and the provisions for the same are contained under section 10AA of the Income Tax Act. 11 Dec 2019 2011-12, the assessee company claimed deduction u/s.10AA for a sum of Rs.47, 19,678/-. The assessee claimed deduction under section 10A for 9 Mar 2020 Claiming any deduction especially available for units established in special economic zones under section 10AA. Claiming additional 27 Nov 2019 10(23C)(v), 10(23C)(vi), 10(23C)(via), 10A, 10AA, 12A(1)(b), 44AB, 44DA, Schedule- 80IA: Computation of deduction under section 80IA it shall be entitled to deduction under section 80LA of the Act, subject to fulfilment without any deduction under the provisions of section 10AA or clause (iia) of 26 Sep 2019 such as deduction under Section 10AA, accelerated depreciation, investment allowance, deduction of capital expenditure on specified
in Section 10AA of the Act and therefore, it is entitled for a claim of deduction under Section 10AA in this year. Our comments The issue with respect to the denial of deduction under Section 10AA in subsequent years when it was allowed in the first assessment year has been a matter of debate before the Courts. 10(10AA) Leave encashment: Rs. 3,00,000 - Any amount paid while continuation of the service with the said organisation is fully taxable. - Amt payable = Leave balance at the time of leaving organisation X avg. basic salary of last 10 months / 30 days Applying the judicial principle to the present case we hold that since at the time of filing of return under section 139(1), the appellant could not have possibly claimed deduction under section 10AA in view of business loss, it cannot be said that there was a failure on the assessee’s part to claim deduction under section 10AA so as to attract rigors of section 80A(5) of the Act. INCOME TAX : Assessee not having exhausted deduction under section 10A for ten consecutive assessment years on date of introduction of section 10AA as was available to him under section 10A on commencement of SEZ Act, 2005 will be entitled for additional period of deduction for five years as is allowed to SEZ units by provisions of section 10AA(1)(ii), subject to fulfilment of other conditions for grant of deduction under section 10AA in Section 10AA of the Act and therefore, it is entitled for a claim of deduction under Section 10AA in this year. Our comments The issue with respect to the denial of deduction under Section 10AA in subsequent years when it was allowed in the first assessment year has been a matter of debate before the Courts.
it shall be entitled to deduction under section 80LA of the Act, subject to fulfilment without any deduction under the provisions of section 10AA or clause (iia) of 26 Sep 2019 such as deduction under Section 10AA, accelerated depreciation, investment allowance, deduction of capital expenditure on specified Under section 10AA, the deduction is also available on profits and gains derived from the services. Sub-section (7) of section 10 AA provides that the profits and