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Q. > Please Help: Income Tax
what is the Difference between Deduction avaible under Different heads of Income & deduction under chapter VI A
answered Jul 12, 2013 by Vikky Kumar Jha , Darbhanga
Deduction under different head is a available in even after any income in that head.
But Income under chapter VI A is available only if there is GTI.
In case of Loss deduction under different head is available.
But deduction under Chapter VI A is not available.
CA Sansaar

Comments
SUBHASH KUMAR JHA
11-Jul-2013 , 02:56:12 pmDEDUCTION AVAILABLE UNDER DIFFERENT HEADS WILL BE AVAILABLE EVEN IF IT WILL COME TO LOSS UNDER RESPECTIVE HEAD BUT DEDUCTION UNDER CHAPTER VIA WILL NOT BE AVAILABLE MORETHAN INCOME (OTHER THAN SPECIAL RATE) FOR EXAMPLE OUR INCOME FROM SALARY IS 4000 EXPENSES OF BUSINESS 5000 WE WILL GET ALL DEDUCTION OF 5000 EVEN IF IT WILL COME TO BUSINESS LOSS 1000 BUT IF YOU TOTAL INCOME 5,00,000 DEDUCTION UNDER CHAPTER VIA COMING TO 5,05,000 YOU WILL BE ALLOWED TO TAKE ONLY 5,00,000