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Section 35(1) (ii)

Tax queries 555 views 2 replies

Is 35 (1) (ii) deduction eligible for individuals who are not carrying on business or profession.(Eg. Person having only Salary or Pension Income)

Replies (2)

In my opinion, Section 29 to Sec.36 are for business expenditure, these deductions are available for those who are having "Income from Business / Profession", hence it is necessary to have such income.
 

Assessee having Salary income from Partnership firm. This comes under income from business and profession. 

So can i claim the deduction u/s 35(1)(ii) for the individual assessee with salary income from partnership firm? 


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