the assessee is running cold storage
and which section of income tax act deduction will be allowed in the Profit.
TDS u/s 194C will be applicable on it
3 Replies
Yasaswi Gomes new
(Finance )
(4545 Points)
Replied 04 April 2024
I remember it as
PBIT
+Disallowed expenses
-allowable expenses
=taxable income
x tax rate
=CURRENT TAX. I think something like that is total tax formula. Different sections for different expenses and rules.
CA Raj Doshi
(Practising CA)
(8939 Points)
Replied 06 April 2024
Refer Sec 35AD for deduction for setting up cold chain facility
Recent Topics
- Unable to convert User role from Registered user t
- INCOME TAX RETURN NOT FILLING BY TEMPLE COMMITTEE
- Procedure for filling appeal for unregistered enti
- Recovery of GST
- GSTR-1A RETURN
- Co.-trading in Equity-ITC
- RCM CREDIT IN CASE OF CATERING SERVICE
- E Invoice Effective Date
- ITC on iron purchased for construction
- GST on Rent- December
Related Threads
CAclubindia
