33 AB Deposit

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....3 AB Deposit<br> Query (Issue) Started By: - P S SATYA NARAYANA Dated:- 21-9-2012 Last Reply Date:- 24-9-2012 Income Tax<br>Got 1 Reply<br>Income Tax<br>Kindly clarify - whether excess amount drawn fr....

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....om the Development Account (Sec 33AB) can be carried forward to subsequent year, within the scheme peirod of 4 years. That is to say >>>> In the year of excess amount drawn >> offer it to tax and su....

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....bsequent year claim it back on actual spent, since the amount spent is within the Scheme period. Reply By CA GOPALJI AGRAWAL: The Reply: But the maximum amount is lower of two: 1. A sum deposited i....

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....n the special account 2. 40% of the business profit Which ever is lower.<br> Discussion Forum - Knowledge Sharing ....