Deduction of head office expenditure in the case of non residents - (New) Section 60 / (Old) Section 44C

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Quantum of deduction [ Section 60(2) ] The deduction allowable shall be restricted- • (a) if the adjusted total income of the assessee is a loss, to an upper monetary limit of 5% of the average adjusted total income of the assessee; or • (b) in any other case, to an upper monetary limit of 5% of the adjusted total income of the assessee. Meaning of "adjusted total income" means the total income computed under this Act, without giving effect to • HO expenditure deduction u/s 60 or • in section 33(11) - Restriction and Carry Forward of Unabsorbed Deduction or • the deduction referred to in section 32(i)(A) - Deduction for Family Planning Ex....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....any premises outside India used for the business or profession; • (ii) salary, wages, annuity, pension, fees, bonus, commission, gratuity, perquisites or profits in lieu of, or in addition to, salary, whether paid or allowed to any employee or other person employed in, or managing the affairs of, any office outside India; • (iii) travelling by any employee or other person employed in, or managing the affairs of, any office outside India; and • (iv) such other matters connected with executive and general administration, as may be prescribed. Under Section 44C of the Income Tax Act, 1961 [ Upto 31.03.2026 ] Deduction of head office expenditure in the case of non residents As per sectio....