Published on Wed, Nov 29, 2006 at 17:40 | Source : Moneycontrol.com
Updated at Thu, Nov 30, 2006 at 11:04
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Special audit report needed in case of EOUs
Taxpayers whose industrial unit falls in the free trade zone and are covered under income tax rule 16DD are required to submit a special audit report in form number 56 or 56FF.
This tax rule deals with the Special Audit Report.
Taxpayers whose industrial unit falls in the free trade zone and are covered under income tax (IT) rule 16DD are required to submit a special audit report in form number 56 or 56FF.
Second category of taxpayers who are covered under IT section 10B are the export oriented units, and their entire income is exempted from tax provided they attach a special audit report with special tax return form number 56 G. IT Section 10BA applies to special type of export units. Such units have to submit form number 56 H along with audit report.
