Sec 10B Exemption

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..... Hi, Sec 10B exempts the profits of 100% EOU for 10 consecutive years. Now an existing firm puts up a new unit for its export operation and registered the same under EOU with MEPZ. Is it necessary .....

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..... to maintain books of accounts seperately for these 2 units under the same firm. - Reply By MOHAN S - The Reply = Hi Chithra, Kindly go through the Rules prescribed u/s 10B. Yes it is certainly ne .....

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..... cessary to maintain sepearte books for the two export so that the Assessing Officer can ascertain the profit claimed to be exempt u/s 10B is properly arrived at. A word of caution: Please advise .....

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..... your client to keep all records in respect of "Exempted Units" properly as ther are lot of litigation and the department (Very unfortunately) treats such units with an eye of suspicion always. Mohan .....

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..... - Sec 10B Exemption - Query Started By: - CHITRA RAGURAM Dated:- 18-7-2011 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion .....

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..... Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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