Clause 4 , 26AAA of Section 10
This query is : Open
23 March 2021
Hi, As per this provision, Sikkim Subjects are exempted from IT on income
1. Accruing or arising from any source in Sikkim
2. Dividend and interest on securities
My friend has a bakery in Sikkim , presently marketing ONLY IN SIKKIM and also paying Regular GST.
He now intends to supply to neighbouring state of West Bengal and North Eastern states. My Queries : 1. Will he be entitled to the Income Tax Exemption even if he is supplying to other states ?
2. In future, he intends to start a unit in West Bengal too. Will he have to pay Income Tax on Income from that source ?
Thanks and regards.
1. Accruing or arising from any source in Sikkim
2. Dividend and interest on securities
My friend has a bakery in Sikkim , presently marketing ONLY IN SIKKIM and also paying Regular GST.
He now intends to supply to neighbouring state of West Bengal and North Eastern states. My Queries : 1. Will he be entitled to the Income Tax Exemption even if he is supplying to other states ?
2. In future, he intends to start a unit in West Bengal too. Will he have to pay Income Tax on Income from that source ?
Thanks and regards.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
CAclubindia
