https://www.taxtmi.com/article/detailed?id=5881 Explanation 2 to Section 37, inserted by the Finance Act 2014, provides that expenditure on activities referred to in section 135 of the Companies Act shall not be treated as expenditure incurred for the purposes of the business or profession, thereby excluding CSR spending from deduction as a business expense under the Income Tax Act; this departs from earlier practice and case law where certain CSR payments were allowed as deductible business expenditure. en-us Mon, 27 Oct 2014 07:38:14 +0530 Mon, 27 Oct 2014 07:38:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5881 Explanation 2 to Section 37, inserted by the Finance Act 2014, provides that expenditure on activities referred to in section 135 of the Companies Act shall not be treated as expenditure incurred for the purposes of the business or profession, thereby excluding CSR spending from deduction as a business expense under the Income Tax Act; this departs from earlier practice and case law where certain CSR payments were allowed as deductible business expenditure. Articles Income Tax Mon, 27 Oct 2014 07:38:14 +0530 https://www.taxtmi.com/article/detailed?id=5881