Tax deduction limits revised to increase allowable proportions for financial corporations and provide tiered caps for others. Amendment revises the deduction limit under Section 36(1)(viii), effective from 1 April 1975, substituting a provision that sets a higher allowable ... Summary
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Tax deduction limits revised to increase allowable proportions for financial corporations and provide tiered caps for others.
Amendment revises the deduction limit under Section 36(1)(viii), effective from 1 April 1975, substituting a provision that sets a higher allowable proportion for Financial Corporations and Joint Financial Corporations under the State Financial Corporations Act, and a two-tiered cap for other financial corporations based on paid-up share capital, while omitting the previous Explanation to the clause.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.