(ii) Figtree Ltd., an Indian private sector company is considering entering into an export contract with Lamou Inc. of China. Figtree Ltd. is…
CA Final · Direct Tax Laws and International Taxation · PYQS · January 2026
(ii) Figtree Ltd., an Indian private sector company is considering entering into an export contract with Lamou Inc. of China. Figtree Ltd. is expected to earn an income of 500 crores and expected tax liability would be 150 crores. However, Figtree Ltd. wants. to know if it is eligible for section 10AA deduction on such export?
Suggested Answer and Working Notes:
(ii) Figtree Ltd., an Indian private sector company would fall under the definition of applicant for advance ruling since its tax liability arising out of the transaction value with Lamou Inc. of China, being a non-resident is 500crores, which is more than 100crores.
Topics: Advance Rulings
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