Deduction u/s 80IA

anil lamboria (CA) (101 Points)

16 March 2016  

I would like to share query as follows;

Suppose ABC Company has following Original computation of income for AY 2013-14

Computation of Income

(Rs.)

Total (Rs.)

 Income from Business or Profession

 

100

 Income from Other Sources:

  • Interest Income
  • Less: Exps for earning Int Income

 

10

(12)

 

 

(2)

                                                                               Total

 

98

 Less: C/f Business Loss

 

(25)

Gross Total Income

 

73

 Deduction U/s 80IA*

 

(73)

Net Taxable Income

 

0

*Entire business income is eligible for deduction u/s 80IA

-Now after Scrutiny assessment U/s 143(3) assessing office has considered certain  business income of Rs. 5 as income from other Sources.

-Now how much amount will be eligible for deduction U/s 80IA ??

 weather Rs. 70/- or Rs. 68/- or any other Amount ??