https://www.taxtmi.com/acts?id=47990 The amendment establishes a two-tier deductibility rule for entertainment expenditure: full deductibility for expenditure up to a baseline amount, and for excess expenditure a deduction equal to the baseline plus a specified proportion of the excess. It also defines entertainment expenditure to include entertainment allowances to employees, entertainment expenditure incurred by employees or others for the assessee's business, and all hospitality provision by the assessee, excluding food or beverages supplied to employees at their place of work. en-us Tue, 28 Jan 2025 12:23:12 +0530 Tue, 28 Jan 2025 12:23:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=47990 The amendment establishes a two-tier deductibility rule for entertainment expenditure: full deductibility for expenditure up to a baseline amount, and for excess expenditure a deduction equal to the baseline plus a specified proportion of the excess. It also defines entertainment expenditure to include entertainment allowances to employees, entertainment expenditure incurred by employees or others for the assessee's business, and all hospitality provision by the assessee, excluding food or beverages supplied to employees at their place of work. Act-Rules F. Acts / Amendment Acts Tue, 28 Jan 2025 12:23:12 +0530 https://www.taxtmi.com/acts?id=47990