pgbp
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 November 2010
respected sir,
plz explain the difecincy treatment from special bussiness under 44A with connec
tion to 28(iii).
regards,
pavani.
plz explain the difecincy treatment from special bussiness under 44A with connec
tion to 28(iii).
regards,
pavani.
06 November 2010
If any deficiency arises from speceial business , as per sec 44A, be allowed as a deduction in computing the income of the association assesseble for the relevant AY under the head profits and gain of B/F and if there is no income assessable under that head or deficiency allowable exceeeds such income, the whole or the balance of the defieciency , as the case may be , shall be allowed as a deduction in computing income of the association assessable for the the relevant AY under any other head.
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