Nishchal Khwaunju (.) (115 Points)
08 March 2013What is the difference between the term deductions allowed in sec 30-36 and the term expenditure in sec 37 in the chapter of PGBP?
Vineet Jaiswal
(CA)
(141 Points)
Replied 08 March 2013
It is the same ... both allows deduction of expenditure incurred w.r.t. business. Sec 37 starts wid a non-obstante clause that deductions allowed in Sec 30-36 will not be covered here. It is a general section and gives conditions for allowability of expenditure in computation of PGBP. However sec 30-36 covers certain specific expenditure.
Suraj Agarwal
(Self Practitioner in Income Tax & GST)
(782 Points)
Replied 08 March 2013
HELLO,
SEC. 37 HAS A GENERAL IMPLICATION ON EXPENSES,
WHEREAS
SEC 30-36 HAVE A SPECIFIC COVERAGE OF EXPENSES.
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