Tax deductions can’t be claimed for settling proceedings underneath Sebi, 3 different legal guidelines, ETCFO
The earnings tax division on Thursday mentioned taxpayers won’t be allowed to say deduction for expenditures incurred to settle proceedings initiated underneath 4 legal guidelines, together with the Sebi and the Competitors Act. In a notification issued on April 23, the Central Board of Direct Taxes (CBDT) notified that any expenditure incurred to settle proceedings…