CMA Intermediate · Direct and Indirect Taxation · Income which does not form part of Total Income
Under section 193 of the Income-tax Act, 2025, which of the following is a 'specified knowledge based industry or service' for a resident employee's GDR concession?
The pharmaceutical industry is a specified knowledge based industry under section 193(4)(e), along with IT software, IT service, entertainment service and biotechnology. Cement, retail and real estate are not in the list unless notified.
- APharmaceutical industryCorrect
- BCement manufacturing
- CRetail trading
- DReal estate development
Explanation
Section 193(4)(e) lists information technology software, IT service, entertainment service, pharmaceutical industry, bio-technology industry and others notified by the Central Government. Cement, retail and real estate are not listed.
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