section 35AD
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 November 2010
Is it mandatory to claim deduction u/s 35AD, if assessee is eligible for this?
19 November 2010
To claim or not is left to the decision of the assessee's choice.
19 November 2010
If Assessee can claim then what is the issue for claiming it!
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 November 2010
if an assessee opts for deduction u/s 35AD, he shall not be eligible for deduction u/s 80IA.
Can he may change his option in subsequent years?
Can he may change his option in subsequent years?
19 November 2010
If the assessee opted for claim u/.s 35AD, then in subsequent year, he will not be allowed to claim deduction u/s 80IA. This is very clear from the memorandum explaining finance bill 2010.
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