|The incentives and facilities offered to the units in SEZs for attracting investments into the SEZ& including foreign investment include|
|1. duty free import/domestic procurement of goods for development, operation and maintenance of SEZ units.|
|2. 50% income tax exemption on export income for SEZ units for first 5 years, 25% for next 5 years thereafter.|
|3. exemption from minimum alternate tax.|
|4. exemption from central sales tax.|
|5. exemption from service tax.|
|Which of the statements given above are correct?|
A) 1, 2 and 3
B) 2, 4 and 5
C) 1, 4 and 5
D) 1, 3, 4 and 5
Correct Answer: D
Solution :[d] 100% Income Tax exemption on export income for SEZ units under Section 10 A of the Income Tax Act for first 5 years 50% for next 5 years thereafter and 50% of the ploughed back export profit for 15 years. The other provisions are exempted from minimum alternate tax, exempted from central sales tax and exempted from service tax.
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