Taxability of Share of Income of Member of AOP claiming 80IB(10)

Section 80(A)(3) states as under: [(3) Where, in computing the total income of an association of persons or a body of individuals, any deduction is admissible under section 80G or section 80GGA 89[or section 80GGC] or section 80HH or section 80HHA or section 80HHB or section 80HHC or section 80HHD or section 80-I or section 80-IA [or section 80-IB] 90a[or section 80-IC] [or section 80-ID or section 80-IE] or section 80J91 or section 80JJ, ========================================================== no deduction under the same section shall be made in computing the total income of a member of the association of persons or body of individuals ========================================================== in relation to the share of such member in the income of the association of persons or body of individuals THE SECTION SAYS THAT DEDUCTION UNDER THE SAME SECTION WILL NOT BE ALLOWED...........SHARE OF PROFIT FROM AOP IS EXEMPTED U/S 10 AND NOT CLAIMED AS DEDUCTION U/S SAME SECTION THAT IS 80IB , THEREFORE LOGIC OF AO IS NOT CORRECT

 Hi,

Can u tell me under which section is SHARE OF PROFIT FROM AOP IS EXEMPTED

Dear Rahul

Refer section 86 along with section 67A of I T Act

Dear Mr. Shrinivas Sir,

I think the share of profit shall be expemt in the hands of member only when the tax is deducted @ MMR or such higher rate.

please comment.