Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Deduction on the payments of interest to partners u/s 40(b) - when income was taxed u/s 176 (3A) - as per Section 176(3A) income received subsequent to the discontinuance of business need to be charged for tax as if such sum was received before the discontinuance of the business and there is nothing in above section that deductions are not allowable - hence deductions u/s 40(b) are allowable
Deduction on the payments of interest to partners u/s 40(b) - when income was taxed u/s 176 (3A) - as per Section 176(3A) income received subsequent to the discontinuance of business need to be charged for tax as if such sum was received before the discontinuance of the business and there is nothing in above section that deductions are not allowable - hence deductions u/s 40(b) are allowable
Note: It is a system-generated summary and is for quick reference only.
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