Applicability of Income tax

[Dipanwita Nag]

12 September 2009 Dear Sir, We are an exporter of engineering items. Please let us know whether income tax is applicable.. 1) On rebate claim refund 2) DEPB refund Thanks and best regards Shamima Khan Mob: 9830606299 Excelo Industries Inc Phone 03326456660 e.mail: [email protected]

AI Summary

Exporter Queries on Taxability of Rebate and DEPB Refunds Clarified: Both Considered Taxable Income An exporter of engineering items inquired about the applicability of income tax on rebate claim refunds and DEPB refunds. A respondent clarified that both are considered income and should be included as taxable income. Another respondent explained that taxable services can be exported without service tax payment, and the Central Government may grant a rebate on service tax paid, subject to specified conditions and procedures.