https://www.taxtmi.com/acts?id=46005 The amendment adds an Explanation to section 37 defining entertainment expenditure to include: (i) entertainment allowances paid by the assessee to employees or other persons after the operative date; and (ii) entertainment expenses incurred by employees or other persons for the assessee's business or profession (excluding those met from such allowances) after the operative date, thereby bringing both employer-paid allowances and employee-incurred business entertainment costs within the statutory concept of entertainment expenditure. en-us Wed, 11 Dec 2024 17:15:50 +0530 Wed, 11 Dec 2024 17:15:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=46005 The amendment adds an Explanation to section 37 defining entertainment expenditure to include: (i) entertainment allowances paid by the assessee to employees or other persons after the operative date; and (ii) entertainment expenses incurred by employees or other persons for the assessee's business or profession (excluding those met from such allowances) after the operative date, thereby bringing both employer-paid allowances and employee-incurred business entertainment costs within the statutory concept of entertainment expenditure. Act-Rules F. Acts / Amendment Acts Wed, 11 Dec 2024 17:15:50 +0530 https://www.taxtmi.com/acts?id=46005