Tax Deductions

|“Deductions from GROSS TOTAL INCOME” |

| |

|Sec 80A/80AB - Basic Rules for deductions |

| |

|The deductions are allowed only if the assessee claims the same and gives proof of circumstances warranting the same. If no such deduction is claimed by |

|the assessee , then the Assessing Officer would not ordinarily be bound to himself allow such a deduction to the assessee. |

|Gross Total Income[GTI] = the aggregate of income from all the heads after giving effect to the provisions of clubbing and set off of losses. |

| |

|Total Income = GTI less deductions under sections 80C to 80U |

| |

|Deductions are not allowed from the following incomes included in the Gross Total Income. Thus these incomes are notionally reduced from the GTI at the |

|time of giving deductions. |

|Long Term Capital Gains [LTCG]...