Old Tax Regime Vis-à-Vis New Tax Regime AY 2425 Final Updated 160424

Old Tax Regime vis-à-vis
New Tax Regime

( Individual and HUF Assessee)
Assessment Year 2024/25.
CA Nitin Bhuta Mumbai .
16.04.2024
Sub: Old Tax Regime vis-à-vis New Tax Regime ( Individual/HUF Assessee) under the Income Tax Act, 1961
For Assessment Year 2024/25 onwards
Dear Readers,
I have compiled the attached information to help you understand the changes between the old and new tax regimes
for Individual/HUF assessees under the Income Tax Act 1961 for Assessment Year 2024/25 onwards. I've done my best
to make this information accessible, but I welcome your feedback for further improvement.
Any suggestions for improvements are welcome with folded hands on my email id nitin.bhuta@gmail.com
Happy reading to all, and Happy Ramnavmi to all in advance.
Cordially yours
CA Nitin Bhuta Mumbai.
COMPILED AND PRESENTED BY CA NITIN BHUTA FOR EDUCATIONAL PURPOSES ONLY 2

Disclaimer
All views stated are my personal views, they are not binding
on ICAI/Study Circle. My personal views may be
correct/incorrect as they are expressed based on my
understanding of the subject.
All members/listeners are requested to go through tax law
provisions on their own and advise their clients accordingly
as each situation is peculiar in itself.
All Illustrations provided are imaginary and any resemblance
to any situation/s is purely co-incidental and without any
intentions to disclose private and confidential information.
CA NITIN BHUTA MOBILE NO.9820295319 E-MAIL: NITIN.BHUTA@GMAIL.COM

PURPOSE: TO SHARE KNOWLEDGE ONLY
3
Old Tax Regime vis-à-vis New Tax Regime
( Individual and HUF Assessees)
Old Tax Regime – AY 24/25 New Tax Regime U/S 115BAC-AY 24/25
Tax Slabs (old schema)– Individuals – Taxable New Tax Slabs (New schema
Income up to Rs.5 Lakhs – Threshold limit Rs.2.50
Lakhs by default, if not opted out on
Income Tax Slabs on the next page or before the time limits
Tax Slabs (old Schema) – Individuals – Taxable Income above Rs.5 specified u/s 139(1) of the
Lakhs - Threshold limit Rs.2.50 Lakhs
Income Tax Act 1961) –
Tax Slabs (old schema) – Women Assessee below 60 years -
Threshold limit Rs.2.50 Lakhs
Individuals – Taxable Income above
Tax Slabs (old schema) – Senior Individual Citizens above 60 years – Rs.7 Lakhs up from AY 24/25
Threshold limit Rs.300000 Lakhs
Tax Slabs (old schema) – Senior Individual Citizens above 80 years – Income Tax Slabs on the next page
Threshold limit Rs.500000 Lakhs

4
Old Tax Regime - AY 24/25 New Tax Regime U/S 115BAC- AY 24/25
Tax Slabs (old schema)
Income Tax Slabs Tax Rate Tax
Up to Rs.300000/- New Tax Slabs NIL(New schema)
NIL
Rs.300001/- to Rs.600000/- 5% 5% in excess of Rs.300000/-
Income Tax Slabs Tax Rate Tax Rs.600001/- to Rs.900000/- 10% Rs.15000 plus 10% in excess of Rs.6
Up to Rs.250000/- NIL NIL Lakhs
Rs.250001/- to Rs.500000/- 5% 5% in excess of Rs.250000/- Rs.900001/- to Rs.1200000/- 15% Rs.45000 plus 15% in excess of Rs.9
Rs.500001/- to Rs.1000000/- 20% Rs.12500+ 20% in excess of Lakhs
Rs.5 Lakhs Rs.1200001/- to Rs.1500000/- 20% Rs.90000 plus 20% in excess of
Above Rs.1000000/- 30% Rs.125000/- plus 30% in Rs.12 Lakhs
excess of Rs.10 Lakhs Above Rs.15 Lakhs 30% Rs.150000 plus 30% in excess of
Note: Rs.15 Lakhs
• When Income exceeds Rs. 50 Lakhs but less than One Crore additional surcharge Note:
@ 10% is payable on Total Tax Payable by all the category of the Assessee • When Income exceeds Rs. 50 Lakhs but less than One Crore additional surcharge @ 10% is payable on
• When Income exceeds Rs. 1 (One) Crore but less than Rs.2 crores then additional Total Tax Payable by all the category of the Assessee
surcharge @ 15% of such tax payable by all the category of the Assessee • When Income exceeds Rs. 1 (One) Crore but less than Rs.2 crores then additional surcharge @ 15% of such
tax payable by all the category of the Assessee
• When Income exceeds Rs. 2 Crores but less than Rs.5 crores then additional • When Income exceeds Rs. 2 Crores but less than Rs.5 crores then additional surcharge @ 25% of such tax
surcharge @ 25% of such tax payable by all the category of the Assessee payable by all the category of the Assessee
• When Income exceeds Rs. 5 Crores then additional surcharge @ 37% of such tax • When Income exceeds Rs. 5 Crores, then additional surcharge @ 25% of such tax is payable by all the
payable by all the category of the Assessee categories of the specified assessees under new tax regime only ( Positive for HNI).
• Note: Additional 4% cess payable in respect of all categories. Note: Additional 4% cess payable in respect of all categories. Further, even if the total income of the
resident individual exceeds the threshold limit of total income as provided for the rebate
(i.e., Rs. 7,00,000), he will still be eligible for the rebate with marginal relief u/s 87A

5
Old Tax Regime –Benefits available- AY 24/25 New Tax Regime U/S 115BAC- AY 24/25
Rebate u/s 87A. Rebate u/s 87A.
▪Maximum Rebate of Rs.12500/- u/s 87A is ▪Maximum Rebate of Rs.25000/- u/s 87A is permissible if
permissible if Total Income is up to Rs.5 Lakhs. Total Income is up to Rs.7 Lakhs. Further, even if the total
income of the resident individual exceeds the threshold limit
of total income as provided for the rebate (i.e., Rs. 7,00,000),
he will still be eligible for the rebate with marginal relief u/s
Deductions under Chapter VI-A 87A
▪ A new deduction u/s 80CCH is introduced for an Deductions under Chapter VI-A
individual (Agniveer) enrolled in the Agnipath Scheme
▪ A new deduction u/s 80CCH is introduced for an individual
from November 1, 2022.
(Agniveer) enrolled in the Agnipath Scheme, effective
Quarterly TDS Returns in Form 24Q November 1, 2022. This benefit is also available to taxpayers
who have opted for the New Tax Regime u/s 115BAC.
▪No change in filing quarterly TDS provisions for the Quarterly TDS Returns in Form 24Q
employers & issuance of Form 16- Part A/B & Form
12BA. ▪No change in filing quarterly TDS provisions for the employers
& issuance of Form 16- Part A/B & Form 12BA.

6
Salaried Employees

7
Old Tax Regime vis-à-vis New Tax Regime –
Salaried Employees
Old Tax Regime –Benefits available- AY 24/25 New Tax Regime U/S 115BAC-Benefits not available- AY 24/25
Salaried Employees Salaried Employees

▪Leave Travel Allowance u/s 10(5) ▪Leave Travel Allowance u/s 10(5)
▪House Rent Allowance [Section 10(13A)] ▪House Rent Allowance [Section 10(13A)]
▪Exemptions – Section 10(14) – Rule 2BB ▪Exemptions – Section 10(14) – Rule 2BB
▪ Helper/Uniform and Academic Allowances ▪ Helper/Uniform and Academic Allowances
▪ Children Education – Rs.100 per month per child ( max – two ▪ Children’s Education – Rs.100 per month per child ( max – two
children’s) children)
▪ Hostel expenditure – Rs.300 per month per child( max – two ▪ Hostel expenditure – Rs.300 per month per child( max – two
children’s) children’s)
▪Standard Deduction of Rs.50000/- u/s 16(i) ▪Standard Deduction of Rs.50000/- u/s 16(i)
▪Entertainment allowance u/s 16(ii) & Profession Tax of Rs.2500/- ▪Entertainment allowance u/s 16(ii) & Profession Tax of
u/s 16(iii) Rs.2500/- u/s 16(iii)
▪Free Food ( Rs.50/meal) ▪Free Food (Rs.50/meal)
▪Exemption for Income of minor – Section 10(32) ▪Exemption for Income of minor – Section 10(32)

8
Old Tax Regime vis-à-vis New Tax Regime –
Salaried Employees – Not. 43/2023 dt 21.06.23
Old Tax Regime –Benefits available- AY 24/25 New Tax Regime U/S 115BAC-Benefits available- AY 24/25
▪ Rule 2BB(1) (a) - Any allowance granted for meeting the cost of travel on ▪ Rule 2BB(1) (a) - Any allowance granted for meeting the cost of travel
tour or on transfer on tour or on transfer
▪ Rule 2BB(1) (b) - Any allowance, whether granted on tour or for the ▪ Rule 2BB(1) (b) - Any allowance, whether granted on tour or for the
period of journey in connection with transfer, to meet the ordinary daily period of journey in connection with transfer, to meet the ordinary daily
charges incurred by an employee on account of absence from his normal charges incurred by an employee on account of absence from his
place of duty normal place of duty
▪ Rule 2BB(1) (C) - Any allowance granted for meeting the expenditure ▪ Rule 2BB(1) (C) - Any allowance granted for meeting the expenditure
incurred on conveyance in the performance of duties of an office or incurred on conveyance in the performance of duties of an office or
employment of profit if the employer does not provide free conveyance employment of profit if the employer does not provide free conveyance
▪ Rule 2BB(2) (11) - ) Transport allowance granted to an employee who is ▪ Rule 2BB(2) (11) - ) Transport allowance granted to an employee who is
blind or deaf and dumb or orthopedically handicapped with disability of blind or deaf and dumb or orthopedically handicapped with disability of
lower extremities to meet his expenditure for the purpose of commuting lower extremities to meet his expenditure for the purpose of commuting
between the place of his residence and the place of his duty between the place of his residence and the place of his duty
▪ It is further provided that while determining the value of perquisite, no ▪ It is further provided that while determining the value of perquisite, no
exemption shall be available in respect of free food and non-alcoholic exemption shall be available in respect of free food and non-alcoholic
beverage provided by the employer through a paid voucher beverage provided by the employer through a paid voucher

9
Salaried Employees and Other assessee
Income from House Property ( Individual/HUF) Income from House Property ( Individual/HUF)
▪ Interest on Self-Occupied House property—a maximum of Rs.2
▪Interest on Self Occupied House property – Lakhs for each property owner; however, such restriction doesn’t
maximum to the extent of Rs.2 Lakhs for each apply to the let-out property during the previous year.
property owner
▪ Set off of loss under the head “Income from House Property for
▪Principal Repayment of monies borrowed for Self-Occupied Property for each property owned by the assessee.
purchase/acquisition of residential property
subject to limits specified u/s 80C of the Income ▪ Carrying forward loss due to let-out property won’t be permitted
for AY 24/25 u/s 71B. However, the loss of house property brought
Tax Act 1961 for each property owner forward u/s 71B of the assessee following the old tax regime arising
in the previous assessment years before AY 24/25 can be carried
▪Set off of loss under the head “ Income from forward, and the same can be set off against house property income
House Property for Self-Occupied Property for under the old tax regime only.
each property owned by the assessee.
▪ Principal Repayment of monies borrowed for purchase/acquisition
▪(Food for Thought- if clubbing u/s 64 is of residential property subject to limits specified u/s 80C of the
applicable whether such benefit is Income Tax Act 1961 for each property owner (Maximum deduction
of Rs.1,50,000/- )
permissible?)
▪ (Food for Thought- if clubbing u/s 64 is applicable, whether such a
benefit is permissible?)

10
Salaried Employees and Other assessee
Chapter VI-A deductions(Applicable to all)- Illustrative Chapter VI-A deductions(Applicable to all)- Illustrative
▪80C deductions – LIC premium/PPF/NSC/Principal ▪80C deductions – LIC premium/PPF/NSC/Principal
repayment on Housing Loan etc. repayment on Housing Loan etc.
▪80CCD (1)/80CCD(1B) – Employees contribution to ▪80CCD (1)/80CCD(1B) – Employees contribution to
NPS NPS
▪80D – Mediclaim premium ▪80D – Mediclaim premium
▪80E – Loan taken for Higher Education ▪80E – Loan taken for Higher Education
▪80G- Donations ▪80G- Donations
▪80TTA – Interest on Savings Bank accounts ▪80TTA – Interest on Savings Bank accounts
▪80QQB – Royalty Income by Authors up to Rs.3 Lakhs
▪80QQB – Royalty Income by Authors up to Rs.3 Lakhs
▪80U – Person with disability
▪80U – Person with disability

11
Old Tax Regime –Benefits available- AY 24/25 New Tax Regime U/S 115BAC– AY 24/25
▪ It is generally suitable for taxpayers with ▪In general, it is suitable for taxpayers with incomes of more than
incomes up to Rs.20 Lakhs who are Rs.20 Lakhs, to whom benefits of deductions as well exemptions
claiming all deductions and exemptions. don’t matter, & Taxpayers earning more than Rs.5 crores gross
taxable income.
▪For each scenario, comparative working
must be examined to opt for or opt out. ▪For each scenario, comparative working must be examined to opt
for or opt out.
▪Option can be exercised every previous year ▪Once the option is exercised in any previous year by the taxpayers
by the taxpayers who have primarily with Profits and Gains of Business or Profession primarily, then
income from salaries only. opting out is permitted only once.
▪ The option exercised must be selected in ▪Taxpayers are required to file Form 10 IEA from AY 24/25 (earlier
the ITR (viz. ITR 1 and ITR 2) only on or it was Form IE) only once in the year in which such an option is
before the time limits specified u/s 139(1) exercised or when They decide to opt out. This needs to be filed
of the Income Tax Act 1961. There is no separately, and the acknowledgement number with the date of
requirement to file a separate form. filing needs to be reported in the ITR by the Taxpayer (viz., ITR 3
and ITR 4). The form needs to be filed on or before the time limit
specified u/s 139(1) of the Income Tax Act 1961.

12
Filing of Form 10IEA (earlier it was Form IE) – Applicability – Assessment Year 2024/25
( *even though the new tax regime also applies
to AOP, BOI and/or AJP from AY 24/25)
*Applicable to whom
Opting out of New Tax
Salaried Employee can claim Regime is permitted only
opt in or opt out in each once till Income from
previous years. Individuals and/or HUF Business or Profession is
discontinued or business
is closed permanently.
New Tax Regime
option is by
default
Salaried Employees Non Salaried Employees
This is to be filed on or
Viz. Business Assessees
before the due date of filing
ITR if taxpayers want to opt-
Income Tax Returns -ITR 1/ITR 2- Income Tax Returns – ITR 3/ITR 4 – Form to be filed on
Option to be selected in ITR Forms every year only out. or before due date of filing if ITR of opting out.

13
Profit and Gains of
Business/Profession

14
Profit and Gains of Business/Profession
Profits and Gains of Business or Profits and Gains of Business or Profession(
Individual/HUFs)
Profession( Individual/HUFs)
▪No changes in computation of ▪No changes in computation of
total income under the head “ total income under the head “
Profits and Gains of Business or Profits and Gains of Business or
Profession u/s 28. Profession u/s 28.
▪No changes in the method of ▪No changes in the method of
claiming depreciation u/s 32. claiming depreciation u/s 32.
▪No changes for complying with the ▪No changes for complying with
provisions of Section the provisions of Section
44AB/44AD/44ADA/44AE etc. 44AB/44AD/44ADA/44AE etc.

15
Profits and Gains of Business or Profession( Individual/HUFs) Profits and Gains of Business or Profession( Individual/HUFs)
▪Specific unadjusted losses or depreciation of earlier years

▪No impact on Brought forward (related to specific exemption or deduction) shall be deemed
to have been given full effect, and no further deduction for
and carry forward of business such losses or depreciation shall be allowed in the subsequent
year. Thus, such losses or depreciation shall lapse
losses u/s 71 to 79 or permanently on opting for a new tax regime. (Not.43/2023)
unabsorbed deprecation u/s ▪If opting for a new tax regime from AY 24/25, then the
unabsorbed depreciation (attributable to the additional
32(3). depreciation u/s 32 (1)(iia) would be allowed to be added to

the written down value (WDV) of the block of assets as on
01.04.2023. If TAR is applicable for AY 2425, then such
adjustment is to be appropriately reported in clause 18 (ca) in
Form 3CD, besides reporting correctly in the ITR as applicable
for the previous year under consideration. (Not.43/2023 &
Not. 27/2024 )

16
Profits and Gains of Business or Profession Profits and Gains of Business or Profession
▪ Deductions allowable u/s 80JJAA -Deduction in
▪Deductions allowable u/s 80JJAA -Deduction in
respect of employment of new employees @
respect of employment of new employees @ 30%
30% subject to specified conditions – Any
subject to specified conditions – Any assessee
assessee
▪ Deduction allowable u/s 80CCD (2) -Deduction in ▪ Deduction allowable u/s 80CCD (2) -Deduction in
respect of contribution to the pension scheme of the respect of contribution to the pension scheme of the
Central Government, subject to certain specified Central Government, subject to certain specified
conditions. – Individual Assessee employed by the Central conditions. – Individual Assessee employed by the
Govt. Only Central Govt. Only
▪ Deduction allowable u/s 80CCH (2) - Deduction in ▪ Deduction allowable u/s 80CCH (2) - Deduction in
respect of contribution to Agnipath Scheme, subject to respect of contribution to Agnipath Scheme, subject
certain specified conditions – Individual Assessee to certain specified conditions – Individual
Only Assessee Only

17
▪Additional depreciation u/s 32(1)(iia). ▪ No allowance for Additional depreciation u/s 32(1)(iia).
▪Deduction u/s 32AD for investment in P & M in notified ▪ No Deduction u/s 32AD for investment in P & M in notified
backward areas.
backward areas.
▪ No Deduction u/s 33AB in respect of Tea, Coffee or Rubber
▪Deduction u/s 33AB in respect of Tea, Coffee or Rubber business
business
▪ No Deductions u/s 33ABA for prospecting or extraction, or
▪Deductions u/s 33ABA for prospecting or extraction, or production of petroleum or natural gas in India.
production of petroleum or natural gas in India.
▪ No Deduction u/s 35(1)(ii) -donation made to approved scientific
▪Deduction u/s 35(1)(ii) -donation made to approved scientific research association, university college or other institutes for
research association, university college or other institutes for doing doing scientific research which may or may not be related to
scientific research which may or may not be related to business business
▪ The provisions of Section 115JC ( AMT Tax ) and Section 115JD (

▪ The provisions of Section 115JC ( AMT Tax ) and Section AMT Tax Credit) are not applicable.
115JD ( AMT Tax Credit) are applicable.

18
Profits and Gains of Business or Profession( Individual/HUFs) Profits and Gains of Business or Profession( Individual/HUFs)
▪Deduction u/s 35(1)(iia) -for payment made to an Indian ▪No Deduction u/s 35(1)(iia) -for payment made to an
company for doing scientific research which may or may not Indian company for doing scientific research which may
be related to business or may not be related to business
▪Deduction u/s 35(1)(iii) - for donation made to university, ▪No Deduction u/s 35(1)(iii) - for donation made to
college, or other institution for doing research in social science university, college, or other institution for doing research
or statistical research in social science or statistical research
▪Deduction u/s 35(1)(iii) - for donation made for or ▪No Deduction u/s 35(1)(iii) - for donation made for or
expenditure on scientific research expenditure on scientific research
▪Deduction u/s 35AD regarding capital expenditures incurred ▪No Deduction u/s 35AD - regarding capital expenditures
for certain specified businesses, e.g., cold chain facility, incurred for certain specified businesses, e.g., cold chain
warehousing facility, etc. facility, warehousing facility, etc.
▪Deduction u/s 35CCC - for expenditure on agriculture ▪No Deduction u/s 35CCC - for expenditure on agriculture
extension project extension project

19
FAQs

20
Old Tax Regime vis-à-vis New Tax Regime - FAQs
Question Answers
▪ If Taxpayer opts for new tax regime if the ▪ Technically no , but pragmatically yes
same is beneficial based on tax because such taxpayers needs to contribute
calculations, does he require to continue minimum Rs.500/- in each previous year but
contributing to PPF account for claiming considering Interest earned on PPF being
tax benefits u/s 80C of the Income Tax Tax free u/s 10(11), every taxpayer should
continue contribute maximum contribution
Act, 1961? of Rs.1,50,000/- in each of the previous
years.
▪ If Taxpayer opts for new tax regime if the ▪In my opinion, Taxpayer should continue
same is beneficial based on tax contributing towards Mediclaim premium
calculations, does he require to continue considering sky rocketing trends of medical
contributing towards Mediclaim premium costs if any such eventuality occurs and if
benefits for claiming tax benefits u/s such premiums are paid then it helps as
80D of the Income Tax Act, 1961? hedge against such unplanned medical costs.

21
Question Answers
▪ If Taxpayer has retirements benefits ▪ Such retirements benefits won’t
like PF accumulations, Gratuity, Super be taxable as per the provisions of
annuation & leave encashment and if the Income Tax Act 1961 as per
such taxpayer opts for new tax regime limits specified for each of such
if the same is beneficial based on the
exemptions even if the Taxpayer
tax calculations, whether such
retirements benefits would be taxable has opted for the new tax regime
as per the provisions of the Income Tax as it is beneficial based on the tax
Act, 1961 ? calculations by comparing old tax
regime vis-à-vis new tax regime.

22
Question Answers
▪In future, can we expect old ▪ In my personal view, it is quite

tax regime to be done away possible that option of continuing
with old tax regime may see sunset
considering unwarranted considering unwarranted
practices of claiming of practices of claiming of
exemptions and deductions exemptions and deductions by
by some section of Taxpayers some section of Taxpayers in
in general ? general.

23
Question Answers
▪ Does the Employer need to ▪ In my personal view, the Employer should only
consider the New Tax Regime u/s consider the new tax regime u/s 115BAC for
115BAC as the default for determining tax deduction at source under section
calculating TDS deductions u/s 192B of the Income Tax Act, 1961. Employees
192B for AY 24/25 or the option of may opt for the old tax regime while filing their
exercising the old tax regime with income tax returns as per the Income Tax Act of
exemptions and deductions to be 1961 provisions. This would help simplify
provided to the employees? administrative compliances and save on costs
because of such TDS compliances in general.
However, if an employee notifies the employer of
following the old tax regime, then the employer is
duty-bound to deduct the TDS as per the old tax
regime only. (Circular 4 of 2023 dated 05.04.23)

24
Question Answers
▪ If the salaried Employee has notified the employer ▪ Yes, the salaried employee can opt in or out
to consider the old tax regime for deducting TDS of the old tax regime to the new tax regime
u/s 192B of the Income Tax Act, 1961, but whether while filing ITR 1 or ITR 2, as the case may
it would be possible for the employee to opt for a
be, or vice versa.
new tax regime u/s 115BAC while their ITR 1 or
ITR 2 as the case may be? Or alternatively, vice
versa.
▪ If the salaried employee is following the new ▪No, if the salaried employee is following the
tax regime u/s 115BAC, then would it have new tax regime, then to my understanding,
many ramifications for claiming DTAA it shall not have any ramifications for a
benefits u/s 90/90A of the Income Tax Act claim of DTAA benefits u/s 90/90A of the
1961 or FTC Credits? Income Tax Act, 1961 or FTC credits.

25
Question Answers
▪Why Govt. is encouraging ▪ Govt. is encouraging to opt for New
Tax Regime because of the following
and emphasizing to reasons:
encourage for the new tax ✓To usher ease of
regime by reducing slabs of compliance as verification
Income and providing for of such claim can be done
reduction in surcharge as away
compared to old tax regime ✓To simplify administrative
where a Taxpayer continue to convenience
channelize their investments
by planning for their rainy ✓To mitigate and rationalize
days ? litigations.

26
Conclusions
(One needs to examine whether opting for a new tax regime is
beneficial or not, depending on each case under consideration; in
my view, it is not suitable for people earning up to a certain scale
of earnings only.
Can it be anticipated that the old tax regime will see a sunset
provision in future ???
(Food for thought: Why is there such differential tax treatment for
taxpayers who contribute through taxes in the interest of the
nation?)

27
SURROUND YOURSELF WITH PEOPLE WHO TALK ABOUT VISION AND IDEAS NOT PEOPLE
Appreciated all of You.

CA Nitin Bhuta
+919820295319
nitin.bhuta@gmail.com
Nitin Bhuta & Co.
28

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COMPILED AND PRESENTED BY CA NITIN BHUTA FOR EDUCATIONAL PURPOSES ONLY 2

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Salaried Employees Salaried Employees

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▪80D – Mediclaim premium ▪80D – Mediclaim premium

▪80G- Donations ▪80G- Donations

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▪Specific unadjusted losses or depreciation of earlier years

32(3). depreciation u/s 32 (1)(iia) would be allowed to be added to

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▪ The provisions of Section 115JC ( AMT Tax ) and Section 115JD (

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▪In future, can we expect old ▪ In my personal view, it is quite

CA NITIN BHUTA MOBILE NO.9820295319 E-MAIL: NITIN.BHUTA@GMAIL.COM

CA NITIN BHUTA MOBILE NO.9820295319 E-MAIL: NITIN.BHUTA@GMAIL.COM

CA NITIN BHUTA MOBILE NO.9820295319 E-MAIL: NITIN.BHUTA@GMAIL.COM

CA NITIN BHUTA MOBILE NO.9820295319 E-MAIL: NITIN.BHUTA@GMAIL.COM

CA NITIN BHUTA MOBILE NO.9820295319 E-MAIL: NITIN.BHUTA@GMAIL.COM

Appreciated all of You.

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