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of <h1>Clause 32 consolidates miscellaneous business deductions, revises specified-entity references and prescription rules, and alters MTM and family-planning treatment</h1> Clause 32 consolidates miscellaneous business deductions, including employee bonuses, interest on borrowed capital (disallowed until asset first used), pro rata discount on zero-coupon bonds, sectoral special reserves (capped at 20% and subject to an accumulated ceiling), MTM/expected losses computed under notified standards, family-planning expenditure amortisation, and STT/CTT. Compared with the originally introduced Bill, the As-Passed text alters cross-references for qualifying 'specified entities,' softens drafting from 'as prescribed' to 'as may be prescribed/notified,' removes an explicit bar against claiming MTM losses under other provisions, and expands family-planning cross-references (adding section 45(10)), producing potential changes in eligibility and exclusivity.
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