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EXPENDITURE U/S 35AC, Income Tax

Issue Id: - 2592
Dated: 4-1-2011
By:- Dhananjay Vishwakarma
EXPENDITURE U/S 35AC

  • Contents

IF ASSESSEE IS PARTNER IN A FIRM AND HE IS RECEIVING REMUNERATION AND INTEREST. IN THIS CASE ITR 3 I APPLICABLE BUT ASSESSEE EXPS U/S 35AC ALLOW OR NOT. PLS FORWARD ME CASE LOW IN THIS CASE

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Showing Replies 1 to 1 of 1 Records

1 Dated: 21-7-2011
By:- Mukesh Kumar

There is not restriction u/s 35AC to allow deduction in case of partner out of remuneration or interest from partnership firm. I think you can claim the benefit of exemption under section 35AC if you satisfy the conditions of this section.


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