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of <h1>Tax Deductions Blocked for Legal Settlements in Securities, Depositories, and Competition Law Violations Under New Rule</h1> A government notification amends income tax regulations regarding expenditure related to legal settlements. The amendment prohibits tax deductions for expenses incurred to settle proceedings under specific laws including securities, depositories, and competition regulations. This change applies from Assessment Year 2025-26, preventing businesses from claiming tax allowances for settlements involving contraventions under these specified legal frameworks.
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