Is 35 (1) (ii) deduction eligible for individuals who are not carrying on business or profession.(Eg. Person having only Salary or Pension Income)
Vijay Krishna (Chartered Accountant) (29 Points)
27 June 2011Is 35 (1) (ii) deduction eligible for individuals who are not carrying on business or profession.(Eg. Person having only Salary or Pension Income)
Vikas
(CA)
(1135 Points)
Replied 27 June 2011
In my opinion, Section 29 to Sec.36 are for business expenditure, these deductions are available for those who are having "Income from Business / Profession", hence it is necessary to have such income.
Meena Rawat
(Account Assistant)
(27 Points)
Replied 13 March 2020
Assessee having Salary income from Partnership firm. This comes under income from business and profession.
So can i claim the deduction u/s 35(1)(ii) for the individual assessee with salary income from partnership firm?
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