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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Election Expenses Non-Deductible for Candidates Under Income-tax Act 1961, Clarifies Board on Section 37 Interpretation.</h1> Expenses incurred by candidates contesting elections to Parliament and State Legislatures are not deductible when assessing income tax under the Income-tax Act 1961. This decision, issued by the Board, clarifies that such expenses cannot be deducted from a candidate's income, regardless of the election outcome. This instruction supersedes previous guidelines and aligns with the Board's interpretation of Section 37 of the Income-tax Act.
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