IT Return: What are the deductions for business expenditure not allowed or removed under the new regime u/s 115BAC?
The following deductions for business expenditure not allowed or removed under the new regime u/s 115BAC.
- Additional depreciation under section 32.
- Investment allowance under section 32AD
- Sector-specific business deductions under section 33AB and 33ABA
- Expenditure on scientific research under section 35
- Capital expenditure under section 35AD
- Exemption under section 10AA for SEZ units