section 80g of income tax act

Descrição

Furthermore, Section 12A also includes rules governing what types of activities businesses are allowed to deduct costs for. For example, it states that direct costs incurred for travel, entertainment and meals are not deductible. Lastly, Section 12A also requires taxpayers to meet specific record keeping requirements in order to prove their deductions were legitimate business expenses. Businesses should take special care to understand all aspects of this important section so as not to miss out on any potential tax savings opportunities.

Deductions on donations under section 80g