26 June 2009
An assessee declared income of Rs. 5,00,000 at the time of survey. Now, my query is whether is eligible or not for claiming basic exemption limit and deduction under section 80C from Rs. 5,00,000.
26 June 2009
At the time of survey it is only the declaration of income and not the final assessment. You need to file your return u/s 139(1) by including Rs.500000/- and u may claim other deductions and also deduction u/s 80-C
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