Tax Titbits

Authors

  • S. Rajaratnam Chennai

DOI:

https://doi.org/10.33516/maj.v50i3.41-43p

Abstract

Explanation to section 37(1) disallows what is patently an illegal expense, though incurred for purposes of business. It was inserted by the Finance (No.2) Act, 1998 for neutralising a decision allowing deduction of money extorted by terrorists as was stated by the Finance Minister, while introducing the amendment.

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Published

2015-03-01

How to Cite

Rajaratnam, S. (2015). Tax Titbits. The Management Accountant Journal, 50(3), 41–43. https://doi.org/10.33516/maj.v50i3.41-43p

Issue

Volume 50, Issue 3, March 2015

Section

Taxation
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