I just wanted to know the exact meaning of Section 80AB of income tax Act.
So,Please help me out.
I just wanted to know the exact meaning of Section 80AB of income tax Act.
So,Please help me out.
Sec 80AB explains about Allowability of Deduction
Deduction would be available for the net amount included in GTI
For example,if an assessee qualifies for 80IB (income-based deduction) ,say
Sales= 20 Lacs
Expense=11 Lacs
PGBP =9Lacs
Deduction would be calculated on the basis of 9 Lacs and not 20Lacs
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