https://www.taxtmi.com/manuals?id=1126 Deduction of business expenditure is allowed in computing income under the head Profits and gains of business or profession only where the expense is not covered by a specific deduction provision, is not capital in nature, is not personal in nature, and is laid out wholly and exclusively for business or professional purposes. Expenditure incurred for any purpose that is an offence or prohibited by law, including illegal payments, prohibited benefits, compounding of offences, settlement of notified contravention proceedings, and corporate social responsibility activities, is specifically disallowed. en-us Tue, 15 Sep 2015 11:06:00 +0530 Tue, 28 Apr 2026 14:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1126 Deduction of business expenditure is allowed in computing income under the head Profits and gains of business or profession only where the expense is not covered by a specific deduction provision, is not capital in nature, is not personal in nature, and is laid out wholly and exclusively for business or professional purposes. Expenditure incurred for any purpose that is an offence or prohibited by law, including illegal payments, prohibited benefits, compounding of offences, settlement of notified contravention proceedings, and corporate social responsibility activities, is specifically disallowed. Manuals Income Tax Tue, 15 Sep 2015 11:06:00 +0530 https://www.taxtmi.com/manuals?id=1126