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Allowances and deductions

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 January 2016 Sir,
Can you please explain what is the exact difference between an allowance and a deduction ?
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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
30 January 2016 In case of profits and gains of business or profession, depreciation allowance, investment allowance etc. allowances; rent, repairs, other revenue expenditure etc. are deductions.

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