TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 37(1): Allowable business expenses deductible; illegal-purpose costs, CSR spending, and political advertisement expenses disallowed</h1> Any expenditure laid out wholly and exclusively for the purposes of a business or profession, other than capital or personal expenses and other than expenditures specifically covered by earlier sections, is allowable in computing business income. Expenditure incurred for purposes that are offences or prohibited by law is not deductible; corporate social responsibility expenses are not treated as business expenditure for deduction; expenditure on advertisement in political party publications is disallowed. Several historical provisos and detailed sub-sections concerning entertainment, advertising, travel, maintenance, and specific exceptions have been omitted or superseded by later amendments.
TaxTMI 
TaxTMI 
