Tag Archives: #Deduction

Are there any specific deductions or allowances available for Tour & Travel Agencies?

Deductions or Allowances for Tour & Travel Agencies   Deductions or Allowances for Tour & Travel Agencies can take advantage of specific deductions and allowances aligned with their business activities. However, it’s imperative to recognize that tax regulations exhibit variations across jurisdictions, leading to disparities in these provisions based on local laws. Here are several… Read More »

What is Section 40B of income tax?

Section 40B

Section 40B     The conditions are as follows: 1.The payment of remuneration should be authorize by the partnership deed or agreement. 2. The remuneration provided should be reasonable in relation to the profits generated by the firm. It should be specifically directed towards a working partner 3. who actively participates in the firm’s business… Read More »