Simran Products Ltd having registered Office at Mumbai has setup two manufacturing Units, one unit at Special Economic Zone (SEZ) and other unit at Domestic Tariff Area (DTA). The unit in SEZ was set up and started manuf
CS Executive · Tax Laws · PYQS · December 2021
Simran Products Ltd having registered Office at Mumbai has setup two manufacturing Units, one unit at Special Economic Zone (SEZ) and other unit at Domestic Tariff Area (DTA). The unit in SEZ was set up and started manufacturing from 02.01.2012 and unit in DTA from 18.08.2015 Simran Products Ltd provide that during the previous year ended on 31.03.2021 the total turnover of Unit in SEZ and in DTA is ₹17,00,00,000 and ₹6,50,00,000 respectively. Export sales of unit in SEZ and DTA is ₹5,00,00,000 and ₹2,50,00,000 respectively. Net profit of unit in SEZ and DTA is ₹1,60,00,000 and ₹90,00,000 respectively. Simran Products Ltd, would be eligible to claim deduction under section 10AA for AY. 2021-22 of an amount of:
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Income Tax Act, 1961
Related Questions in this Topic
- Which of the following criteria would make a foreign company to have its active business outside India? (i) Passive inco...
- Crow Ltd is engaged in export of articles and things eligible for deduction under section 10AA of the Income Tax Act, 19...
- Raghu retired on 31st October, 2022 after rendering service for 32 years in a listed company. He received ₹23,00,000 as ...
- Dave & Co. made a turnover of ₹160 lakh during the financial year 2022-23. It received ₹90 lakh by way of RTGS and n...
- Laxmi received ₹30,000 per month by way of family pension (consequent to demise of her husband, who died in April, 2019)...