https://www.taxtmi.com/acts?id=49030 Clause 32 enumerates deductible amounts under "Profits and gains of business or profession", including bona fide bonuses and commissions, interest on borrowed capital with an exclusion for interest on funds borrowed for asset acquisition until first use, contributions to notified credit guarantee funds, pro rata discount on zero coupon bonds, amounts carried to a capped special reserve by specified financial entities engaged in eligible long term finance, notified expenditures by statutory corporations, sugarcane purchase by sugar co ops at government prices, marked to market losses under notified standards, amortisable family planning expenditure, write down on business animals, and securities or commodities transaction tax where income is business derived. en-us Fri, 14 Feb 2025 16:18:40 +0530 Thu, 20 Feb 2025 17:20:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49030 Clause 32 enumerates deductible amounts under "Profits and gains of business or profession", including bona fide bonuses and commissions, interest on borrowed capital with an exclusion for interest on funds borrowed for asset acquisition until first use, contributions to notified credit guarantee funds, pro rata discount on zero coupon bonds, amounts carried to a capped special reserve by specified financial entities engaged in eligible long term finance, notified expenditures by statutory corporations, sugarcane purchase by sugar co ops at government prices, marked to market losses under notified standards, amortisable family planning expenditure, write down on business animals, and securities or commodities transaction tax where income is business derived. Act-Rules Bills Fri, 14 Feb 2025 16:18:40 +0530 https://www.taxtmi.com/acts?id=49030