Deductions from gross total income: entitlement capped by income and barred from duplication across provisions or persons. Entitlement to deductions is limited to those specified in the Sub chapter and applied against a person's gross total income from ordinary sources for the ... Summary
Deductions from gross total income: entitlement capped by income and barred from duplication across provisions or persons.
Entitlement to deductions is limited to those specified in the Sub chapter and applied against a person's gross total income from ordinary sources for the financial year. The aggregate deductions cannot exceed that gross total income. Any sum qualifying for deduction under this Sub chapter cannot be claimed under any other provision of the Code or by any other person, and this exclusivity applies regardless of whether the full deduction has been allowed.
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