https://www.taxtmi.com/circulars?id=8972 Advance payments under the "Own Your Own Telephone" scheme are treated as advance rent and deductible as revenue expenditure wholly and exclusively for business; the Board directs that the entire amount be allowed as a deduction in the year of payment irrespective of installation. If the telephone is not installed and the payment is refunded, the refund is taxable in the year of receipt as recovery of an expense previously allowed. en-us Fri, 02 Apr 1976 00:00:00 +0530 Wed, 01 Jun 2011 14:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8972 Advance payments under the "Own Your Own Telephone" scheme are treated as advance rent and deductible as revenue expenditure wholly and exclusively for business; the Board directs that the entire amount be allowed as a deduction in the year of payment irrespective of installation. If the telephone is not installed and the payment is refunded, the refund is taxable in the year of receipt as recovery of an expense previously allowed. Circulars Income Tax Fri, 02 Apr 1976 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8972