Thursday, 13 December 2012

Understanding Allowability of Business Expenditure under section 37 of the Income Tax Act, 1961 with latest case laws

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Interest on Foreign Currency Loan & Corresponding Forex Loss for Strategic Share Acquisition Held Deductible as Revenue Expenditure

  The tax treatment of interest on funds borrowed to acquire shares hinges on a single, crucial distinction: the   purpose   behind the acqu...