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of <h1>New Subsection 40A(13) Bars Deductions for Marked to Market or Expected Losses, Unless Allowed by Section 36(1)(xviii)</h1> In section 40A of the Income-tax Act, a new sub-section (13) is introduced, effective from April 1, 2017. This sub-section specifies that no deduction or allowance will be permitted for any marked to market loss or other expected loss, unless it is allowable under clause (xviii) of sub-section (1) of section 36.
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