Entertainment expenditure disallowance bars deductions and guest house maintenance and depreciation claims face significant limits. Amendments to Section 37 add rules disallowing deductions for entertainment expenditure incurred in India and disallowing maintenance and depreciation ... Summary
Entertainment expenditure disallowance bars deductions and guest house maintenance and depreciation claims face significant limits.
Amendments to Section 37 add rules disallowing deductions for entertainment expenditure incurred in India and disallowing maintenance and depreciation allowances for residential accommodation used as a guest house, subject to reduction by amounts received from users and a narrow holiday home exemption for employers meeting a workforce threshold; the Explanation treats long hotel stays and rents for hired accommodation as guest house expenditure.
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