Income Tax: Exercising the power contained under section 37, the Central Government has notified that expenditure incurred to settle proceedings for contravention or defaults under SEBI Act, SCRA, Depositories Act, or Competition Act shall not be deemed incurred for business purposes and hence, not deductible/allowable under the Income-tax Act.(28.04.2025)

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Income Tax:

Exercising the power contained under section 37, the Central Government has notified that expenditure incurred to settle proceedings for contravention or defaults under SEBI Act, SCRA, Depositories Act, or Competition Act shall not be deemed incurred for business purposes and hence, not deductible/allowable under the Income-tax Act.

[Notification No. 38/2025 dated 23.04.2025]