Section 37 (Business Deduction)
Definition
General deduction provision allowing business/professional expenses incurred wholly and exclusively for business purposes to be deducted from business income.
In Context
Covers: office rent, staff salary, professional subscriptions, software, internet, travel (business purpose), client entertainment (100% deductible if wholly for business), professional development courses. Capital expenditure is NOT deductible under Section 37 — use Section 32 (depreciation) instead.
Related Terms
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