Restriction on duplicate tax deductions prevents members claiming deductions already allowed to collective entities. Where an association of persons or a body of individuals is allowed specified deductions in computing its total income, the substituted rule prevents ... Summary
Restriction on duplicate tax deductions prevents members claiming deductions already allowed to collective entities.
Where an association of persons or a body of individuals is allowed specified deductions in computing its total income, the substituted rule prevents members from making the same deduction in computing their individual tax on the share of such member in the association's or body's income.
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