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of <h1>Income Tax Bill 2025: Clause 34 Refines Business Expenditure Deductions, Aligns with Section 37, Excludes CSR and Political Ads.</h1> The Income Tax Bill, 2025, introduces Clause 34, refining the framework for business expenditure deductions in India. This clause aligns with Section 37 of the Income Tax Act, 1961, by stipulating that only expenditures incurred wholly and exclusively for business purposes are deductible, excluding personal or capital expenses. Clause 34 explicitly lists non-deductible expenditures, such as those related to illegal activities, corporate social responsibility (CSR), and political advertisements, promoting ethical compliance and political neutrality. This evolution emphasizes transparency and ethical business practices, requiring businesses to maintain detailed records to substantiate deduction claims.
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