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Description
Tax Holiday under Sections 10A and OB - An analysis is a comprehensive study of the provisions of sections 10A and 10B. These sections provide tax holiday for electronic software/hardware technology park units and hundred per cent export-oriented units.
The book contains an in-depth analysis of tax holiday provisions. The salient feature of the book is that the various aspects of relevant provisions have been discussed on first principles and supported by case laws, wherever applicable. The commentary is backed by ample illustrations, charts and examples. The critical aspects have been identified, dissected and discussed from various viewpoints. The Appendix to the book, among other things, contains legislative history with a table for quick reference.
The book enables the reader to understand and apply the provisions of tax holiday in the right perspective. The charts, illustrations and examples assist the reader to have practical insight into the same. The book also discusses various modes of conducting business which are peculiar to STPs/EOUs like inbound and outbound outsourcing, onsite and offshore activities, etc. The book will be useful to legal and accounting professionals, corporates, consultants and students of taxation.
The key features of the book include:
• Practical and comprehensive commentary on tax holiday for STP/EHTP/EOU units
• Surgical analysis of the applicable provisions demystifying the critical aspects
• Practical illustrations, charts and explanations
• Supported by case laws
• Designed to meet challenges in assessment and litigation.
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Contents
1. Introduction
2. Analysis of Relevant Provisions
3. Conditions to be Satisfied
4. Computation
5. Certain Restrictions on Carry Forward and Double Deduction
6. Inter Unit Transactions with Closely Connected Persons
7. Opting In and Opting Out
8. Requirement of Separate Books of Account
9. Requirement of Audit Report
10. Supporting Manufacturer or Sub-Contracting
11. Section 10B and Profits from Trading Activities
12. STP Units Engaging in Activities that do not Satisfy the Definition of
“Computer Software”
13. Requirement of Customs Bonding
14. Employees: Place of Working
15. Minimum Alternate Tax and Double Taxation Relief with Special Reference
to Cases Covered by Section 10A
16. How Tax Holiday Works: Comprehensive Illustrations
Appendices
1. Provisions of the Income-tax Act, 1961
2. Legislative History of Section 10A and Section 10B
3. Software Technology Parks (STP) Scheme
4. EHTP Scheme
5. Relevant Extract of Foreign Trade Policy and Procedure 2004 - 09
6. Relevant Extracts of Customs Act, 1962 and Central Excise Act, 1944
7. Relevant Extracts of Industries (Development and Regulation) Act, 1951
8. Relevant Extracts of foreign Exchange Management Act, 1999 and the Rules
and Regulations
9. Relevant Board Circular, Notifications and Instructions
10. Clarifications issued by STPI authorities in respect of customs bonding requirement
11. Extracts of the Publication of the Economic Times IT Enabled Services 2002
with reference to various IT enabled Services
12. Extracts of the NASSCOM Publication - The IT Industry in India (Strategic
Review 2002) With Reference to Various IT enabled services
Index
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