Exemption u/s 80IAB

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....xemption u/s 80IAB<br> Query (Issue) Started By: - Latha Rajan Dated:- 25-6-2009 Last Reply Date:- 28-6-2009 Income Tax<br>Got 1 Reply<br>Income Tax<br>For SEZ Developer a) Interest Income ie., Accrue....

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....d interest received from BG created b)Divedend income on Short term Investmentin Mutual Funds, c) Loss/gain on derivative related to material purchases, d) Miselleneous income like scrap sale would fo....

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....rm a part of Income from Authorised Operation and be exempt u/s. 80IAB. Latha Reply By Mukesh Kumar: The Reply: If the income forming part of total income qualified the term "profits and gains deriv....

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....ed from such business" you can claim exemption u/s 80IAB as a developers of SEZ. I doubt that dividend income, derivative transactions would qualify the condition of business profit from SEZ operation....

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..... However, i agree with the element of sale of wastage or scrap generated out of SEZ development operation will be eligible for exemption.<br> Discussion Forum - Knowledge Sharing ....