17 July 2008
Suppose i am calculating my income under Section 44AF, Whether the deduction under chapter VI will be available for me while calculating my taxable income
17 July 2008
Of course, it is available. As oer section 44AF, the income under head business and profession is arrived at and it is presumed that deduction under section 30 to section 38 has been allowed. Deduction under section 80C is available from the GTI which includes Income from BP.
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