Home / Knowledge / News / 'EOUs can avail of tax exemption' – CBDT circular
'EOUs can avail of tax exemption' – CBDT circular
19
Mar '09
According to a circular released by the Central Board of Direct Taxes (CBDT) to all Income Tax offices in the country, it has instructed the Income Tax department to permit export oriented units (EOU), approved by Development Commissioners in the respective states, to claim tax exemption.

The approval from the Development Commissioner, adds the communiqué will have to be further ratified by the Board of Approvals, which is constituted by officials from different ministries like commerce, finance, etc. An EOU is considered a 100 percent export unit and is eligible for a multitude of tax benefits.

In earlier days, the Income Tax department was denying the tax benefits to EOUs approved by the Development Commissioner, which was opposed by the trade bodies and in turn the issue was raised by the Ministry of Commerce and Industry with the revenue department in the Ministry of Finance.

Fibre2fashion News Desk - India

Must ReadView All

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Textiles | On 27th May 2017

Indian exports can touch $325 bn in 2017-18: FIEO

Indian exports are on upward trend in last few months as the country...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search