Income tax - deduction - who is eligible?
This query is : Resolved
16 December 2011
Can any one help as to the following?
Weighted deduction u/s 35 (2AA) for contribution to National laboaratory, secentic research orgiansation at 200 %
is available for " Assessees"
Does it include individuals? Income from Business or Profession or Corporates only?
Thanks
Mouli
Weighted deduction u/s 35 (2AA) for contribution to National laboaratory, secentic research orgiansation at 200 %
is available for " Assessees"
Does it include individuals? Income from Business or Profession or Corporates only?
Thanks
Mouli
16 December 2011
Deduction u/s 35(2AA) is available to ALL assessees carrying on BUSINESS OR PROFESSION.
The status of the assessee is not important, however, it is important that the assessee must carry on Business or Profession.
This is so because ythe deduction is allowed under the chapter of Profits and Gains of Business or Profession, so it is applicable only to business income.
The status of the assessee is not important, however, it is important that the assessee must carry on Business or Profession.
This is so because ythe deduction is allowed under the chapter of Profits and Gains of Business or Profession, so it is applicable only to business income.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- Bank Accounts in Balance Sheet for ITR 3
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- ITR validation error - Balance sheet is not filled
- Eway bill for machinery reparing
- Form 10BD Filling
- Annual return of gst limit
- TDS ON CASH WITHDRAWALS...
- Income of an individual
- Applicable TDS for Purchase of Flat from NRI
- Change the gender in the registration of icai
- Lift replacement entries in housing society
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
