section 44D
This query is : Resolved
ARVIND JAIN
(Querist)
14 September 2009
DO 40(b) deduction allowed after calculating profits in presumptive basis.Can profit from rental income be sett off against loss calculated u/s 44D after 40(b) deduction ,if allowable in new finance bill, 2009.
Aditya Maheshwari
(Expert)
14 September 2009
yes deduction u/s 40(b) allowed after calculating profits in presumptive basis.
40(b) deduction applicable only on business income.
40(b) deduction applicable only on business income.
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