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section 37(1)

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(Querist)
02 January 2009 please explain how do company benefit from section 37(1) under LIC's Employer-Employee Scheme? also please give details of the section.
Thank you.
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
02 January 2009 Section 37(1) covers all expenses which are not covered by the earlier section and has been expended in respect of business carried on by the assessee.
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