IFSC Insurance Office gross income clarified; permits nil reporting in Form 10CCF when profits computed under First Schedule. Form No. 10CCF (Annexure A) is amended to state that, for a Unit that is an IFSC Insurance Office undertaking insurance business, gross income in serial number 6 means the profit and gains calculated under the presumptive computation provisions and the First Schedule; and that the gross eligible income field in serial number 9 may be submitted as nil where profits and gains are so computed.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
IFSC Insurance Office gross income clarified; permits nil reporting in Form 10CCF when profits computed under First Schedule.
Form No. 10CCF (Annexure A) is amended to state that, for a Unit that is an IFSC Insurance Office undertaking insurance business, gross income in serial number 6 means the profit and gains calculated under the presumptive computation provisions and the First Schedule; and that the gross eligible income field in serial number 9 may be submitted as nil where profits and gains are so computed.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
