Exchange Gain on Export of Goods & Service–Export Income (Sec-10B)

RELEVANT PARAGRAPHS: 9. Sub-section (4) of section 10B provides for computation of profit derived from export. It reads as under: “10B (4) For the purposes of sub-section (1), the profits derived from export of articles or things or computer software shall be the amount which Bears to the profits of the business of the undertaking, the same proportion as the export turnover in respect of such articles or things or computer software bears to the total turnover of the business carried on by the undertaking.” 10. On a plain reading of these two sub-sections of section 10B, it is evident t...