S. 72A of income tax Act

    Posted By : Nikki / Published on : 23-Oct-2017 10:31 AM / View : 389 / Comment : 1
    Print button
    Does provisions of s. 72A of income tax Act override s. 79 of income-tax act 1961??
    Read more on : income

    • Dear Nikki

      There is a bit difference between Provisions of Both the Section. 

      Section 72A considers Unabsorbed Depreciation whereas Section 79 does not. 

      Section 72A is applicable only for Limited entity (Like Indusrial Undertakings, Banking Company and PSU) but Section 79 has a wider scope.

      In my view, if in any case where both section are conflicting each other then Section 72A will surely override Section 79 (orderwise application of sections). 

      24-10-2017 / 12:21:36 AM
      Reply



Other Queries from Nikki
Latest Queries
Like us on Facebook
Follow Us on Twitter
Latest ArticlesSubmit Article

We are always here to help you. Don’t hesitate to contact us anytime!

011-42345111 or ask@compliancecalendar.in