Voluntary CSR Expense allowable as business expenditure

Explanation 2 to Section 37(1), with effect from 1^st April 2015, which provides that “for the removal of doubts, it is hereby declared that for the purposes of sub-section (1), any expenditure incurred by an assessee on the activities relating to corporate social responsibility referred to in section 135 of the Companies Act, 2013 (18 of 2013) shall not be deemed to be an expenditure incurred by the assessee for the purposes of the business or profession”

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