Facts of the Case: The Company proposes to register itself with the STPI in-order to claim tax benefits available under the Income Tax Act.
Questions:
Can invoice for the period 'June 2009 to December 2009' raised before registration with STPI and still tax exemption claimed for invoices after registration.
If Invoices are dated after registration , for services rendered prior to registration, Is that allowable for tax exemption, Treatment of carried forward losses upto registration date. Any Procedure/conditions to be complied with for converting this existing unit into an STPI.
Any suggestion you may deem fit.
Company Seeks Tax Exemption on Pre-Registration Invoices Under Section 10A; Clarification on Carried Forward Losses Needed. A company intends to register with the Software Technology Parks of India (STPI) to claim tax benefits under the Income Tax Act. The inquiry concerns whether invoices for services rendered before STPI registration, but dated after, are eligible for tax exemption. Additionally, it questions the treatment of carried forward losses up to the registration date and procedures for converting the existing unit into an STPI. The response clarifies that section 10A exemptions for SEZ units are assessed annually, allowing for full exemption on invoices raised before registration within the relevant year. More details are needed for addressing carried forward losses. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
