Section 80 p
This query is : Resolved
27 December 2017
Hi Experts
Can you please clarify whether disallownace of Donation under section 37 can also be claimed under Section 80 P in respect of a primary Agriculture Credit Society
Can you please clarify whether disallownace of Donation under section 37 can also be claimed under Section 80 P in respect of a primary Agriculture Credit Society
27 December 2017
Yes, because 'profit and gains of business' where ever appears in section 80P(2)
must be understood as 'profits and gains of business computed in accordance
with the provisions of Income tax Act,1961'.
must be understood as 'profits and gains of business computed in accordance
with the provisions of Income tax Act,1961'.
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