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Deduction of profit

Others 310 views 3 replies
the assessee is running cold storage
and which section of income tax act deduction will be allowed in the Profit.
Replies (3)

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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