https://www.taxtmi.com/acts?id=49052 Deduction is permitted in computing income under the head "Profits and gains of business or profession" for a specified oil exploration business where an agreement with the Central Government is in place and laid before Parliament; deductions cover infructuous or abortive exploration in surrendered areas, drilling and exploration expenditures and related assets, and depletion in the year commercial production commences and succeeding years as specified in the agreement. en-us Fri, 14 Feb 2025 16:30:05 +0530 Thu, 20 Feb 2025 11:53:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49052 Deduction is permitted in computing income under the head "Profits and gains of business or profession" for a specified oil exploration business where an agreement with the Central Government is in place and laid before Parliament; deductions cover infructuous or abortive exploration in surrendered areas, drilling and exploration expenditures and related assets, and depletion in the year commercial production commences and succeeding years as specified in the agreement. Act-Rules Bills Fri, 14 Feb 2025 16:30:05 +0530 https://www.taxtmi.com/acts?id=49052