Whether following expenditure are allowed as deduction in computing |
Total Income |
Book Profit |
Income Tax including corporate dividend tax |
No |
No |
Wealth Tax |
No |
Yes |
Income Tax or Wealth Tax |
No |
Yes |
Any other penalty lived in any other law |
No |
Yes |
Reserves |
No |
No |
Ascertained liability |
Yes |
Yes |
Unascertained Liability |
No |
No |
Provision for ascertained liability |
No |
Yes |
Provision of Unascertained Liability |
No |
No |
Loss of subsidiary Co. |
No |
No |
Provision for losses of Subsidiary Co. |
No |
No |
Dividend |
No |
No |
Whether deductions u/s 80C to 80U allowed |
Yes |
No |
Whether Incomes referred to in section 10, 10A. 10B, 11 and 12 can be claimed as exempt |
Yes |
Yes |
Whether incomes referred to in section 10(23G) and 10BA can be claimed as exempt |
Yes |
No |
