https://www.taxtmi.com/acts?id=11690 The clause defines operating expenditure as the aggregate of specified allowable expenses incurred wholly and exclusively for business and defined deductions subject to conditions. It lists a wide range of permitted costs-supplies, rent, repairs, employee remuneration, insurance, selling and professional expenses, R&D, contributions to prescribed funds, certain head office and asset transfer costs-and prescribes exclusions for personal, capital, finance and prohibited items. Timing rules permit deduction when liability arises if paid by the return due date, otherwise when actually paid. en-us Thu, 16 Sep 2010 18:33:50 +0530 Fri, 17 Sep 2010 13:24:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11690 The clause defines operating expenditure as the aggregate of specified allowable expenses incurred wholly and exclusively for business and defined deductions subject to conditions. It lists a wide range of permitted costs-supplies, rent, repairs, employee remuneration, insurance, selling and professional expenses, R&D, contributions to prescribed funds, certain head office and asset transfer costs-and prescribes exclusions for personal, capital, finance and prohibited items. Timing rules permit deduction when liability arises if paid by the return due date, otherwise when actually paid. Act-Rules Bills Thu, 16 Sep 2010 18:33:50 +0530 https://www.taxtmi.com/acts?id=11690