Supreme Court Rules: Deduct 90% of Net Interest/Rent, Not Gross, for Business Profits u/s 80HHC.

Deduction u/s 80HHC - Ninety per cent of not the gross interest/rent but only the net interest/rent, which has been included in the profits of the business of the assessee as computed under the heads ‘PGBP’ is to be deducted under clause (1) of Explanation (baa) to Section 80HHC for determining the profits of the business..... - SC .....

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