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        F. Acts / Amendment Acts

        Section 13 - Amendment of section 37.

        Finance (No. 2) Act, 2024
        Chapter III
        DIRECT TAXES - Income-tax

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        Deductibility of business expenses: settlement payments for notified law contraventions now allowable under amended tax provision. Amendment expands allowable deductions under section 37, Explanation 3 by adding a clause treating payments to settle proceedings for contraventions of laws notified by the Central Government as deductible business expenditure, effective from the 1st day of April, 2025.
                        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.
                          Provisions expressly mentioned in the judgment/order text.

                              Deductibility of business expenses: settlement payments for notified law contraventions now allowable under amended tax provision.

                              Amendment expands allowable deductions under section 37, Explanation 3 by adding a clause treating payments to settle proceedings for contraventions of laws notified by the Central Government as deductible business expenditure, effective from the 1st day of April, 2025.


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