Sec 40a(3)

Does section 40a(3) is applicable to trust when the income is taxed under income from other source head
Replies (2)
Quick Summary
This discussion clarifies the applicability of Section 40a(3) of the Income Tax Act. It confirms that Section 40a(3) specifically relates to business or professional income. Therefore, it does not apply to income taxed under the 'Income from Other Sources' head, such as that derived from fixed deposits.

No, 40A(3) is applicable for business income
This section provides the IT relates the profits or gains of any business or profession. The income from other sources relates to IT levied from Fixed deposits and others.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details
Company
Featured 21 September 2026
Consultant - Reporting

Finrep Advisors LLP

Mumbai

CA

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
Featured 11 September 2026
Audit Executive

RBSM Corporate Advisors Private Limited

Pune

CA

View Details
Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details