https://www.taxtmi.com/manuals?id=1094 Deduction under Section 33AB allows assessees engaged in growing and manufacturing tea, coffee or rubber to deduct the lesser of deposits made in NABARD/deposit accounts under board-approved schemes and forty percent of the business PGBP before the deduction; deposits must be made by the earlier of the return filing date or six months after year-end. Withdrawals are permitted for scheme purposes but misuse or specified asset purchases trigger deeming provisions, disallowance of related deductions or depreciation, and taxation of unutilised or certain withdrawn amounts; a prescribed audit report is required. en-us Tue, 15 Sep 2015 10:44:00 +0530 Wed, 06 Mar 2024 15:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1094 Deduction under Section 33AB allows assessees engaged in growing and manufacturing tea, coffee or rubber to deduct the lesser of deposits made in NABARD/deposit accounts under board-approved schemes and forty percent of the business PGBP before the deduction; deposits must be made by the earlier of the return filing date or six months after year-end. Withdrawals are permitted for scheme purposes but misuse or specified asset purchases trigger deeming provisions, disallowance of related deductions or depreciation, and taxation of unutilised or certain withdrawn amounts; a prescribed audit report is required. Manuals Income Tax Tue, 15 Sep 2015 10:44:00 +0530 https://www.taxtmi.com/manuals?id=1094