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Income Tax - Highlights / Catch Notes

Home Highlights June 2020 Year 2020 This

Deduction u/s 80 IC/ 80 IB - assessee is eligible to deduction ...


Deductions Allowed for Damages and Shipping Commissions u/ss 80 IC & 80 IB; Not for Bank Interest or Rent.

June 16, 2020

Case Laws     Income Tax     AT

Deduction u/s 80 IC/ 80 IB - assessee is eligible to deduction u/s 80 IB/ 80 IC of the Act on the damages against cancellation, commission from shipping while it is held not eligible for deduction on the other receipts, interest receipts from bank and others and rental income.

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