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Exemption u/s 80IAB

Latha Rajan

For SEZ Developer a) Interest Income ie., Accrued interest received from BG created b)Divedend income on Short term Investmentin Mutual Funds, c) Loss/gain on derivative related to material purchases, d) Miselleneous income like scrap sale would form a part of Income from Authorised Operation and be exempt u/s. 80IAB. Latha

Eligibility of Income Types for SEZ Exemption: Section 80IAB Clarifies Limits on Dividend and Derivative Gains. A query was raised regarding the eligibility of various income types for exemption under section 80IAB for SEZ developers. The incomes in question included accrued interest from bank guarantees, dividend income from short-term mutual fund investments, gains or losses from derivatives related to material purchases, and miscellaneous income like scrap sales. The response indicated that only income directly derived from SEZ operations, such as scrap sales, would likely qualify for exemption, while dividend income and derivative transactions might not meet the criteria for business profits from SEZ operations. (AI Summary)
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