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115 BAA regime

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17 June 2024 In a recent case law Synergia Lifesciences Pvt. Ltd Vs DCIT (ITAT Mumbai) tribunal has allowed for deduction of csr expenses.
Is it applicable to all companies.
Can a company opting for 115BAA claim csr expenses deduction under 80G for current financial year?

18 June 2024 Once a company has opted for section 115BAA, it cannot claim any other deductions or exemptions under the Income Tax Act. This means that the company cannot claim deductions under sections such as 80C, 80D, and 80G. The only deductions that are allowed are those specified in section 115BAA itself.

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