#section 37(1)
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615 articlesIncome Tax

Income Tax
Foreign Exchange Fluctuations allowable as Revenue Expense- Section 37
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CSR expense of Company Prior to 01.04.2015 cannot be disallowed
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Foreign Exchange Fluctuation Loss arising out of Re-Statement of ECB Allowed
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Interest on delayed payment of TDS not allowable as business expenditure
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Expenses in connection with issue of FCCB allowable
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Stamp duty on lease deed for carrying on of business allowable
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MCI Code of Conduct not Applicable to pharma companies; Freebies to doctors allowed
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General Deductions of Expenditure Under Section 37(1)
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Stamp Duty to obtain Business Premises on Lease is Revenue Expense
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Expense crystallized during the year allowable as Prior Period Expense
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Puja Expenses for Smooth functioning of Business allowable
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ATM is considered as Computer hence Higher Depreciation rate allowed
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Exchange fluctuation loss on Business Advances Allowable
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