Sec 80G
This query is : Resolved
20 July 2011
Hi Frndz ,
A partnership firm M/s A has suffered Loss in th current year , the question is that firm has made a donation , so will it be entitled for deduction u/s 80 G in case of loss ?
Hi Frndz ,
A partnership firm M/s A has suffered Loss in th current year , the question is that firm has made a donation , so will it be entitled for deduction u/s 80 G in case of loss ?
20 July 2011
MAx. Deductions under chapter VIA can be allowable to the extent of Gross Total Income reduces to Zero.
In case of loss GTI is already negative.
Hence no deduction is allowed.
In case of loss GTI is already negative.
Hence no deduction is allowed.
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