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of <h1>Legal Expenses Limits: Tax Deductions Restricted Under Section 58, Targeting Personal Costs and Specific Disallowed Payments</h1> Section 58 of the Income Tax Act, 1961 outlines specific expenses that are not deductible when computing income from other sources. These include personal expenses, certain expenditures related to salaries, interest payable outside India without tax payment, and specific disallowed payments. The provision also extends certain provisions of sections 40 and 40A to income from other sources, with special rules for foreign companies and income from gambling or betting.
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