https://www.taxtmi.com/circulars?id=9667 Payments or provisions for employee gratuity from current year profits are non-deductible unless covered by exceptions: approved gratuity fund contributions, amounts payable during the year, or compliant spread-over provisions. Depreciation is allowable on technical drawings and similar knowledge assets. A partner's introduction of a personal asset as capital is a transfer subject to examination for consideration and potential tax-evasion. Prior unabsorbed business losses rank after current year depreciation. Attribution of spouse's or minor's business income treats it as the assessee's own for carry forward and set off. Firm registration requires proper partner execution. en-us Fri, 13 Dec 1985 00:00:00 +0530 Wed, 08 Jun 2011 13:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9667 Payments or provisions for employee gratuity from current year profits are non-deductible unless covered by exceptions: approved gratuity fund contributions, amounts payable during the year, or compliant spread-over provisions. Depreciation is allowable on technical drawings and similar knowledge assets. A partner's introduction of a personal asset as capital is a transfer subject to examination for consideration and potential tax-evasion. Prior unabsorbed business losses rank after current year depreciation. Attribution of spouse's or minor's business income treats it as the assessee's own for carry forward and set off. Firm registration requires proper partner execution. Circulars Income Tax Fri, 13 Dec 1985 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9667