Section 10AA of ITA, 1961 : Section 10Aa: Special Provisions In Respect Of Newly Established Units In Special Economic Zones
ITA, 1961
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Explanation using Example
Imagine a company, XYZ Pvt Ltd, which has set up a software development unit in a Special Economic Zone (SEZ) in the financial year 2021-22. As per Section 10AA of the Income-tax Act, 1961, XYZ Pvt Ltd is eligible for tax deductions on its export profits from this unit.
For the first five assessment years, starting from AY 2022-23, the company will get a 100% deduction on profits earned from the export of software services. From the s...
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