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In essence, an OPC is a private company. Therefore, you can easily open an office in an SEZ and avail the benefits provided to a private company. To avail any benefits, your business and operations have to be carried out of a Unit set up in the SEZ.
To open a Unit in an SEZ: For setting up a manufacturing, trading or service unit in SE...
Wazzeer Professional Network
ProfessionalHi, I have a few queries pertaining to Corporate Tax laws. I want to start a research-based technology startup and I am going with the option of One Person Company that designs electronics software and electric/mechanical instruments and licenses their design to other firms who can take up mass production. Below are my queries:
1) Can an OPC have an office in an SEZ and avail the benefits that are offered to normal private firms. 2) if yes, what is the minimum criteria for an OPC to get entitled to the various tax benefits offered to companies in an SEZ... Like is it enough if I register the head office at an SEZ with office space for only 2 people in the SEZ and take up actual work at some branch office. 3) Does my company strictly need to be an IT service providing company to fit in an STPI park or even a technology/research company can also have an office there and avail the same benefits? 4)Does business/sales do by an OPC from the registered office at an SEZ entitled to the tax benefits?
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Wazzeer Professional Network
ProfessionalIn essence, an OPC is a private company. Therefore, you can easily open an office in an SEZ and avail the benefits provided to a private company. To avail any benefits, your business and operations have to be carried out of a Unit set up in the SEZ.
To open a Unit in an SEZ: For setting up a manufacturing, trading or service unit in SEZ, an application has to be made to the Development Commissioner of the SEZ. The proposal shall be considered by the Unit Approval Committee taking into account the following:-
- Residence proof in respect of all Directors/ Partners. (Passport/ ration card/ driving license /voter identity card or any other proof to the satisfaction of Development Commissioner);
- Income Tax return of all the promoters/ audited balance sheet of the company for the last three years;
- Promoters experience and Marketing tie-ups
- Undertakes to comply with the applicable environmental and pollution control norms
On approval of the proposal by the Board or the Approval Committee, the Development Commissioner shall issue a Letter of Approval for setting up of the Unit.
STP Scheme: The following activities are considered in the scheme:
- Manufacturer/Development of software in India for exports.
- Onsite Consultancy Services for development of software at the client's site abroad.
- IT-enabled products or services
- Sales in the Domestic market are also permitted to extent of 50% on FOB value of exports with prior permission
On the basis of this, your company would qualify to be under the STP scheme.
In case you need a support in legal matters, things can be consulted and delivered seamlessly on Wazzeer platform -> "Get Started!"
about 3 years ago
View answer
Hi, I have a few queries pertaining to Corporate Tax laws. I want to start a research-based technology startup and I am going with the option of One Person Company that designs electronics software and electric/mechanical instruments and licenses their design to other firms who can take up mass production. Below are my queries:
1) Can an OPC have an office in an SEZ and avail the benefits that are offered to normal private firms. 2) if yes, what is the minimum criteria for an OPC to get entitled to the various tax benefits offered to companies in an SEZ... Like is it enough if I register the head office at an SEZ with office space for only 2 people in the SEZ and take up actual work at some branch office. 3) Does my company strictly need to be an IT service providing company to fit in an STPI park or even a technology/research company can also have an office there and avail the same benefits? 4)Does business/sales do by an OPC from the registered office at an SEZ entitled to the tax benefits?
-
Wazzeer Professional Network
ProfessionalIn essence, an OPC is a private company. Therefore, you can easily open an office in an SEZ and avail the benefits provided to a private company. To avail any benefits, your business and operations have to be carried out of a Unit set up in the SEZ.
To open a Unit in an SEZ: For setting up a manufacturing, trading or service unit in SEZ, an application has to be made to the Development Commissioner of the SEZ. The proposal shall be considered by the Unit Approval Committee taking into account the following:-
- Residence proof in respect of all Directors/ Partners. (Passport/ ration card/ driving license /voter identity card or any other proof to the satisfaction of Development Commissioner);
- Income Tax return of all the promoters/ audited balance sheet of the company for the last three years;
- Promoters experience and Marketing tie-ups
- Undertakes to comply with the applicable environmental and pollution control norms
On approval of the proposal by the Board or the Approval Committee, the Development Commissioner shall issue a Letter of Approval for setting up of the Unit.
STP Scheme: The following activities are considered in the scheme:
- Manufacturer/Development of software in India for exports.
- Onsite Consultancy Services for development of software at the client's site abroad.
- IT-enabled products or services
- Sales in the Domestic market are also permitted to extent of 50% on FOB value of exports with prior permission
On the basis of this, your company would qualify to be under the STP scheme.
In case you need a support in legal matters, things can be consulted and delivered seamlessly on Wazzeer platform -> "Get Started!"
about 3 years ago
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