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of <h1>Section 37: Only business expenses wholly and exclusively for trade are deductible; illegal, CSR, capital, personal, and political ads disallowed</h1> Expenditures wholly and exclusively for the purposes of a business or profession are deductible from profits and gains, except where they fall under specified disallowances, are capital or personal expenses, or are covered by other listed sections. Deductions are prohibited for expenditures incurred for illegal or prohibited purposes, corporate social responsibility spending, and advertising in political-party publications. 'Illegal or prohibited' includes spending for acts unlawful in or outside India, providing benefits whose acceptance would breach applicable rules, compounding offences, or settling proceedings under laws notified by the central government.
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