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of <h1>New Circular Clarifies Deduction Calculations u/s 10A: Exclude Freight, Telecom, and Insurance from Turnover.</h1> The circular addresses the computation of deductions under Section 10A of the Income Tax Act, 1961, confirming that freight, telecommunication charges, and insurance expenses should be excluded from both 'export turnover' and 'total turnover' when calculating admissible deductions. This clarification follows a Supreme Court ruling, which resolved the contentious issue by stating that excluding these expenses only from export turnover would lead to illogical results. The same principle applies to expenses incurred in foreign exchange for technical services outside India. The circular advises against filing appeals on this settled issue and recommends withdrawing any existing appeals.
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