Finance minister slashed basic corporate tax rate to 22% stating that no exemption can be availed.My question is weather exemption means deductions as well.kindly clarify.
regards
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Exemptions & deductions can be read simultaneously
Replies (1)
Have not availed any deduction / exemption under -----
1. Additional allowance on scientific research,
2. Section 32AD, 32AB, 35CCC, 35CCD
3. Additional Depreciation of Plant & Machinery
4. Chapter VI-A (Except Section 80JJAA i.e. employment increase)
5. Setoff of loss carried forward from earlier assessment years, if loss is attributable to point (i) to (iii) above.
1. Additional allowance on scientific research,
2. Section 32AD, 32AB, 35CCC, 35CCD
3. Additional Depreciation of Plant & Machinery
4. Chapter VI-A (Except Section 80JJAA i.e. employment increase)
5. Setoff of loss carried forward from earlier assessment years, if loss is attributable to point (i) to (iii) above.
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