the assessee is running cold storage
and which section of income tax act deduction will be allowed in the Profit.
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Deduction of profit
Replies (3)
Quick Summary
TDS u/s 194C will be applicable on it
I remember it as
PBIT
+Disallowed expenses
-allowable expenses
=taxable income
x tax rate
=CURRENT TAX. I think something like that is total tax formula. Different sections for different expenses and rules.
Refer Sec 35AD for deduction for setting up cold chain facility
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