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Maximum amount of deduction under chapter vi
How much maximum amount of deduction can be claimed under chapter vi of income tax act? plz guide.
Replies (3)
Aggregate no limit, but each sub-section has its own limitations.
Hi !
The total amount of deductions under Chapter VIA cannot exceed the Gross Total Income of the Assessee.
For example, the Gross Total Income of the Assessee is Rs. 3,50,000/-.
Hence Maximum amount of deductions allowed under Chapter VIA is Rs. 3,50,000
and Also each Sub section has its own limitations...
Regards
KAAMIL AHAMADH
The total amount of deductions under Chapter VIA cannot exceed the Gross Total Income of the Assessee.
For example, the Gross Total Income of the Assessee is Rs. 3,50,000/-.
Hence Maximum amount of deductions allowed under Chapter VIA is Rs. 3,50,000
and Also each Sub section has its own limitations...
Regards
KAAMIL AHAMADH
Thank you so much sir for your valuable guidance.
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