Export profit allocation revised to a turnover proportionate method and on site foreign software development deemed export. Section 10B is amended to compute exempt profits by applying the ratio of export turnover to total turnover to the undertaking's business profits; the second proviso to subsection (1) is omitted. Explanatory changes exclude certain shareholding changes (public interest conversions or venture capital disinvestment) from adverse treatment, refine wording to attribute export receipts to the undertaking, and deem profits from on site software development outside India to be profits from export of computer software.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Export profit allocation revised to a turnover proportionate method and on site foreign software development deemed export.
Section 10B is amended to compute exempt profits by applying the ratio of export turnover to total turnover to the undertaking's business profits; the second proviso to subsection (1) is omitted. Explanatory changes exclude certain shareholding changes (public interest conversions or venture capital disinvestment) from adverse treatment, refine wording to attribute export receipts to the undertaking, and deem profits from on site software development outside India to be profits from export of computer software.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
