Entertainment expenditure limits: percentage limits must be calculated before deductions for development and investment allowances. The percentage limits for entertainment expenditure under section 37(2A) are to be calculated with reference to the quantum of profits and gains of the ... Summary
Entertainment expenditure limits: percentage limits must be calculated before deductions for development and investment allowances.
The percentage limits for entertainment expenditure under section 37(2A) are to be calculated with reference to the quantum of profits and gains of the business or profession as computed before allowing deductions for development rebate, development allowance, entertainment expenditure, and investment allowance admissible under section 32A.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.