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of <h1>Clause 33: Direct Taxes Code Bill, 2009 Details Deductible Business Expenses and Exclusions for Income Computation</h1> Clause 33 of the Direct Taxes Code Bill, 2009 outlines the deductions for operating expenditures in computing total income from business. It specifies that allowable expenses include costs related to raw materials, rent, repairs, salaries, insurance, employee welfare, utilities, sales promotion, training, and professional fees, among others. Certain exclusions apply, such as personal expenses, capital expenditures, and political advertisement costs. Deductions are contingent upon conditions being met and are typically recognized in the financial year when the expenses are paid or the liability arises. Non-compliance with specified conditions results in disallowance of deductions.
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