https://www.taxtmi.com/circulars?id=4651 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. en-us Sat, 21 Oct 1978 00:00:00 +0530 Fri, 01 Aug 2008 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4651 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. Circulars Income Tax Sat, 21 Oct 1978 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4651