Deduction under section 35AD now requires taxpayer option, and carryforward applies only when deduction was claimed and allowed. The amendment makes the deduction under section 35AD elective by requiring an assessee to opt to claim it, and provides that application of the deduction ... Summary
Deduction under section 35AD now requires taxpayer option, and carryforward applies only when deduction was claimed and allowed.
The amendment makes the deduction under section 35AD elective by requiring an assessee to opt to claim it, and provides that application of the deduction in any other previous year is conditioned on the deduction having been claimed or opted for and allowed to the assessee.
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