Double deduction not allowed

Double deduction not allowed

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Income Tax
Double deduction under section 10AA and section 35A not allowed [Section 10AA(9) inserted

Double deduction under section10AA and  section  35A  not  allowed [Section 10AA(9) inserted [w.e.f. A.Y. 2015-16]




Where a deduction under section 10AA is claimed and allowed in respect of profits of any of the 13 specified businesses, referred to in section 35AD(8)(c), for any assessment year, no deduction shall be allowed under the provisions of section 35AD in relation to such specified business for the same or any other assessment year.


In other words, if an assessee, carrying on a specified business, claims deduction under section 10AA, any capital expenditure incurred by such assessee shall not be eligible for deduction under section 35 AD. 





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