https://www.taxtmi.com/news?id=13042 CSR expenditures required by the Companies Act are treated as applications of income and not as expenditures incurred wholly and exclusively for carrying on business; therefore they are proposed to be excluded from allowance as deductions under the income-tax rule on business expenditure, while CSR spending that otherwise meets statutory deductible categories remains allowable subject to applicable conditions, with the clarification to operate prospectively from the stated implementation date. en-us Sun, 13 Jul 2014 16:26:50 +0530 Sun, 13 Jul 2014 16:26:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=13042 CSR expenditures required by the Companies Act are treated as applications of income and not as expenditures incurred wholly and exclusively for carrying on business; therefore they are proposed to be excluded from allowance as deductions under the income-tax rule on business expenditure, while CSR spending that otherwise meets statutory deductible categories remains allowable subject to applicable conditions, with the clarification to operate prospectively from the stated implementation date. News - Sun, 13 Jul 2014 16:26:50 +0530 https://www.taxtmi.com/news?id=13042