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

Courtesy: Walmart

Apparel/Garments | On 23rd Mar 2017

Walmart acquires ModCloth

Walmart has acquired the assets and operations of ModCloth, one of...

Textiles | On 23rd Mar 2017

SIMA advises mills to avoid panic buying of cotton

The Southern India Mills' Association (SIMA) is advising mills to...

Apparel/Garments | On 23rd Mar 2017

Tulip Retail, True Fit personalise in-store shopping

Tulip Retail, a mobile application platform built exclusively for...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Madhu Jain
Madhu Jain

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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:
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search