SECTION 10B

[Govinda Raju]

WE ARE AN 100% EOU UNIT, STARTED COMMERCIAL PRODUCTION(MANUFACTURING ACTIVITY) ON 09.05.2002, AS PER 10B SECTION OF THE INCOME TAX ACT,

ARE WE ELIGIBLE FOR THE INCOME TAX BENEFIT TILL FINANCIAL YEAR 31.03.2012 OR TILL 31.03.2011( 10 YEARS FROM THE DATE OF PRODUCTION(CIRCULAR NO.1/2005 DT. 06.01.2005)) 

[CAGOPALJI AGRAWAL]

To my view, it would be available upto 31.03.2011 only.

AI Summary

Section 10B benefit subject to a ten-year limit from commencement of production, ending at the close of that period.
A 100% export-oriented unit that began commercial production on 09.05.2002 is entitled to the income-tax exemption under Section 10B only for the ten-year period measured from commencement of production; the benefit therefore ends at the close of that ten-year period and does not extend beyond it.