Separate Source & Separate Account for Para 7 of the P.U. (A) 161/2019, 162/2019 and 163/2019
Before we get into the details of paragraph 7, let’s first understand the context of these income tax exemption orders. The orders, namely P.U. (A) 161/2019, 162/2019, and 163/2019, were gazetted on 7th June 2019. They provide income tax exemptions for companies that promote exporting certain manufactured products and agricultural produce. Now, let’s focus on […]
Determination of the Value of Increased Exports for P.U. (A) 161/2019, 162/2019 and 163/2019
P.U. (A) 161/2019, 162/2019 and 163/2019 are Income tax exemption orders for companies achieving an increase in export sales (gazetted on 7 June 2019). Determination of the Value of Increased Exports was stated in Paragraph 5(1)(b) of P.U. (A) 161/2019. 162/2019 and 163/2019, respectively, as below. In determining the value of increased exports, however, where […]
Increase in export sales of Agricultural Produce or Manufacturing Products: Tax Exemption
Today we will discuss an interesting topic related to the Income Tax Act of 1967 and a specific exemption order. This may be relevant if you’re a business owner or interested in tax matters! Let’s dive right in. Our question for today is: What is the Income Tax (Exemption) (No. 5) Order 2019 [P.U. (A) […]
