Hotelier tax deduction adjusted: claims now reduced where payments to other hoteliers, tour operators or travel agents occur. The Finance Act amends the income tax provision to expand the Explanation to include receipts from another hotelier, tour operator or travel agent and to require that amounts allowable be reduced by payments referred to in sub section (2A); sub section (6) is also revised to remove 'aggregate of the' and to treat payments made to any assessee referred to in sub section (2A) as relevant to receipts from foreign tourists, thereby creating a deduction reduction mechanism tied to inter entity payments among hoteliers, tour operators and travel agents.
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Hotelier tax deduction adjusted: claims now reduced where payments to other hoteliers, tour operators or travel agents occur.
The Finance Act amends the income tax provision to expand the Explanation to include receipts from another hotelier, tour operator or travel agent and to require that amounts allowable be reduced by payments referred to in sub section (2A); sub section (6) is also revised to remove "aggregate of the" and to treat payments made to any assessee referred to in sub section (2A) as relevant to receipts from foreign tourists, thereby creating a deduction reduction mechanism tied to inter entity payments among hoteliers, tour operators and travel agents.
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