Expenditure inclusion expanded to cover provisions debited to profit and loss account, altering tax deduction scope retroactively.

Amendment substitutes clause (a) of rule 5 in the First Schedule to include any expenditure or allowance including any amount debited to the profit and loss account by way of a provision for any tax dividend, reserve or any other provision as may be prescribed, and is deemed to have effect retroactively from the earlier fiscal commencement date.

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