Section 41 Income Tax Act

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17 Points Joined November 2019
is deduction is allowed in section 41 for remission of liability?
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On 15 February 2021 at 19:04 Report
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Remission means you need not to pay someone, i.e., you've gained some amount.

There is no question of allowing this gain as a deduction. Instead, this gain is charged to tax.

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On 15 February 2021 at 19:22
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Chartered Accountant
24588 Points Joined November 2019
Agree with manish
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On 16 February 2021 at 06:45

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