Is the expenses reported under financial Statement as "Extraordinary expenses" will be allowable as deduction under section 37 of Income tax Act.
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Impact of income tax on extra ordinary expenses
Replies (1)
yes provided they are incurred wholly and exclusively for business purpose.
that requirement is only to show separately for presentation purpose provided that they are not disallowed under income tax act
that requirement is only to show separately for presentation purpose provided that they are not disallowed under income tax act
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