CBDT: Can’t claim deductions for settlement under 4 laws

The income tax department has announced that taxpayers cannot claim deductions for expenses related to settling legal proceedings under four specific laws. This notification, issued by the CBDT on April 23, disallows deductions for expenditures arising from contraventions or defaults under acts governing securities, contracts, depositories, and competition.

from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/KbmUTH3

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