https://www.taxtmi.com/acts?id=51563 Section 32 permits specified deductions from business or professional profits, including employee bonuses/commissions (not representing dividends), interest on borrowed capital excluding interest for pre use asset acquisition, deemed capital from recurring mutual benefit subscriptions, contributions to credit guarantee funds, and pro rata discount on zero coupon bonds. It allows special reserves for defined financial entities-limited to 20% of eligible business profits and capped relative to capital and general reserves-and defines eligible entities, eligible businesses and infrastructure facilities. The section also permits deductions for statutory corporation expenditures, regulated sugarcane purchase costs, marked to market losses, amortised family planning capital expenditure, animal loss write downs, and securities/commodities transaction taxes where income is included under business profits. en-us Wed, 13 Aug 2025 18:45:11 +0530 Wed, 03 Sep 2025 16:33:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51563 Section 32 permits specified deductions from business or professional profits, including employee bonuses/commissions (not representing dividends), interest on borrowed capital excluding interest for pre use asset acquisition, deemed capital from recurring mutual benefit subscriptions, contributions to credit guarantee funds, and pro rata discount on zero coupon bonds. It allows special reserves for defined financial entities-limited to 20% of eligible business profits and capped relative to capital and general reserves-and defines eligible entities, eligible businesses and infrastructure facilities. The section also permits deductions for statutory corporation expenditures, regulated sugarcane purchase costs, marked to market losses, amortised family planning capital expenditure, animal loss write downs, and securities/commodities transaction taxes where income is included under business profits. Act-Rules Income Tax Wed, 13 Aug 2025 18:45:11 +0530 https://www.taxtmi.com/acts?id=51563