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of <h1>Tax Deductions Blocked for Regulatory Settlement Expenses Under Multiple Financial Laws with Immediate Effect</h1> The Central Government prohibits tax deductions for expenditures related to settling proceedings involving contraventions or defaults under specific financial and regulatory laws, including Securities and Exchange Board of India Act, Securities Contracts Act, Depositories Act, and Competition Act. The notification takes effect upon publication in the Official Gazette, preventing businesses from claiming such settlement expenses as tax-deductible.
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