"Own Your Own Telephone Scheme".

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Full Text of the Document

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....ur Own Telephone Scheme" can be allowed as revenue expenditure under section 37(1) of the Income-tax Act 1961 while computing the income under the head "profit and gains from business or profession". 2. Payment under OYT Scheme is in the nature of advance payment of rent of telephone connection and not in the nature of deposit. In view thereof. subscribers are entitled to deduct such amount as ....