A return is to be filed for a village industry that comes under ITR-7 through Sec 139(4C) (Sec 23B -Khadi or village industries). Its business unit was acquired by NH Authorities . But the benefit was invested in another business unit within the due date of its return filing. As the society comes under Sec 139(4C), can we claim deduction as exemption u/s 11A? Society is not registered under Sec 23A.
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Itr-7. village industries
Replies (2)
I hope my qtn is understood. I just want to know whether the deduction that comes u/s 54D can be claimed u/s 11A as there is no provision of 54D in ITR 7.
Replies needed please. Very urgent!
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