SEC 115BAA
This query is : Resolved
26 August 2020
Dear sir,
i have one doubt regarding sec 115BAA of income tax act 1961.
If we select this new scheme whether sec 80G (donations) deduction is available or not for f.y 2019-20 and f.y 2020-21.
In this provision chapter VIA deductions chapter-C headings list is not allowed as deduction except 80jjaa.
Please clarify my doubt as soon as possible.
Thanks in advance,
Regards,
Bheema Reddy.
i have one doubt regarding sec 115BAA of income tax act 1961.
If we select this new scheme whether sec 80G (donations) deduction is available or not for f.y 2019-20 and f.y 2020-21.
In this provision chapter VIA deductions chapter-C headings list is not allowed as deduction except 80jjaa.
Please clarify my doubt as soon as possible.
Thanks in advance,
Regards,
Bheema Reddy.
26 August 2020
Sec 80G (donations) deduction is not available for f.y 2019-20 and f.y 2020-21 under section 115BAA.
Message likes :
1 times
27 August 2020
Dear sir,
Thank u for your previous reply, and in sec 115BAA total income of company will be computed with out any deductions under provisions of chapter VIA under the heading "C-Deductions in respect of certain incomes" other than the provisions of Sec 80JJAA.
But in finance act 2020 the words "C-Deductions in respect of certain incomes" other than the provisions of Sec 80JJAA "the words figures and letters "Chapter VI-A other than provisions of sec 80JJAA or Sec 80M shall be substituted w.e.f from 01-04-2021. (here i think 2021 means A.Y 20221-2022).
Please reply me sir.
Thanks in advance.
Regards,
Bheema Reddy.
Thank u for your previous reply, and in sec 115BAA total income of company will be computed with out any deductions under provisions of chapter VIA under the heading "C-Deductions in respect of certain incomes" other than the provisions of Sec 80JJAA.
But in finance act 2020 the words "C-Deductions in respect of certain incomes" other than the provisions of Sec 80JJAA "the words figures and letters "Chapter VI-A other than provisions of sec 80JJAA or Sec 80M shall be substituted w.e.f from 01-04-2021. (here i think 2021 means A.Y 20221-2022).
Please reply me sir.
Thanks in advance.
Regards,
Bheema Reddy.
27 August 2020
Yes you are right it's from AY 2021-22.
Message likes :
1 times
27 August 2020
thank u very much sir
27 August 2020
Welcome.............
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
- Exiting partner in partnership firm in gst portal
- CLOSING STOCK QUERY
- Gst on travel by air for business purposes
- CASH GIFT FROM BLOOD RELATIVE
- TDS offline utility
- Due Date Clarity
- Error in uploading Form 10BD
- NRI INSURANCE ADVISOR
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- ITR-3 File/Error Found
- Missed TDS
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
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
