Crow Ltd is engaged in export of articles and things eligible for deduction under section 10AA of the Income Tax Act, 1961. The previous year 2022-23 is the 7th year of its operations. It exported for ₹20 crore and did d
CS Executive · Tax Laws · PYQS · June 2023
Crow Ltd is engaged in export of articles and things eligible for deduction under section 10AA of the Income Tax Act, 1961. The previous year 2022-23 is the 7th year of its operations. It exported for ₹20 crore and did domestic turnover of ₹5 crore during the year. Its profit of the unit in SEZ is ₹4 crore. How much is the amount eligible for exemption under section 10AA on the assumption that it is a unit satisfying all other legal conditions?
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax Act, 1961
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