SEC 115BAA
This query is : Resolved
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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.
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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.
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27 August 2020
thank u very much sir
27 August 2020
Welcome.............
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