In case of an assessee who has income from business/profession if opts for new tax regime
This query is : Resolved
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Manoj Thakur
(Querist)
01 July 2024
In case of an assessee who has income from business/profession if opts for new tax regime whether he/she will be allowed following deductions:
Whether business losses and Unabsorbed Depreciation can be carried forward?
Whether deductions under 54 etc. will be allowed in case income from capital gains?
Whether business losses and Unabsorbed Depreciation can be carried forward?
Whether deductions under 54 etc. will be allowed in case income from capital gains?
Dhirajlal Rambhia
(Expert)
02 July 2024
1. Only to the extent of allowable part.
2. Yes
2. Yes
CA R SEETHARAMAN
(Expert)
02 July 2024
Yes, it can be carried forward.
Deduction allowed under capital gains.
Only section 80 deduction not allowed.
Deduction allowed under capital gains.
Only section 80 deduction not allowed.
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