NRI desk costs fall under Section 44C while Section 36(1)(viia) deduction precedes Section 44C computation.
NRI desk costs fall under Section 44C while Section 36(1)(viia) deduction precedes Section 44C computation. Issue Whether overseas branch expenses incurred for operating NRI desks soliciting deposits constitute ‘head office expenditure’ under Section 44C or are allowable as separate business expenses under Section 37(1). Whether data processing charges and overseas branch expenses attributable to Indian… Read More »