CBDT: Can’t claim deductions for settlement under 4 laws
Friday, 25 April 2025 ()
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.
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