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In case of an assessee who has income from business/profession if opts for new tax regime

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Manoj Thakur

Manoj Thakur (Querist)
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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?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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02 July 2024 1. Only to the extent of allowable part.
2. Yes

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 July 2024 Yes, it can be carried forward.
Deduction allowed under capital gains.
Only section 80 deduction not allowed.

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