https://www.taxtmi.com/acts?id=50001 New sub section limits entertainment expenditure deductions for previous years ending after 30 September 1967 by prescribing a ceiling computed across profit bands with proportional apportionment where a year straddles that date; transitional rules treat companies and other assessees differently. The Amendment also substitutes higher statutory percentage rates in multiple provisions and replaces the Explanation to section 280X to define the annuity deposit required to be made as the lesser of Finance Act computed amounts and a tiered specified amount calculated by income bands on adjusted total income. en-us Mon, 03 Mar 2025 13:26:56 +0530 Mon, 03 Mar 2025 13:26:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50001 New sub section limits entertainment expenditure deductions for previous years ending after 30 September 1967 by prescribing a ceiling computed across profit bands with proportional apportionment where a year straddles that date; transitional rules treat companies and other assessees differently. The Amendment also substitutes higher statutory percentage rates in multiple provisions and replaces the Explanation to section 280X to define the annuity deposit required to be made as the lesser of Finance Act computed amounts and a tiered specified amount calculated by income bands on adjusted total income. Act-Rules F. Acts / Amendment Acts Mon, 03 Mar 2025 13:26:56 +0530 https://www.taxtmi.com/acts?id=50001