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Sec 10B Benefits possible for Medical Transcription Company?

Chet Parker

Dear Sir or Madam:

We are a medical transcription company with 100% revenue coming from USA.  However, unfortunately (lack of knowledge on our CA's part and lack of following procedure), we never registered for 100% EOU nor for STPI.  We have been in business since 2004.  Can we still get the benefit of tax holiday under sec 10B?  Are there any cases where this has been possible?

Thanks in advance for the advise.

Chet.

Medical transcription firm seeks Section 10B tax benefits; advised to set up new unit in SEZ for eligibility. A medical transcription company, with all its revenue sourced from the USA, inquired about eligibility for tax benefits under Section 10B, despite not being registered as a 100% Export Oriented Unit (EOU) or with the Software Technology Parks of India (STPI) since its inception in 2004. The response indicated that the only option now is to establish a new unit in a Special Economic Zone (SEZ) to qualify for tax exemptions. Further details about the business location were requested to provide comprehensive guidance. (AI Summary)
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