The income tax department announced that taxpayers cannot deduct expenses for settling proceedings under specific laws, including the Sebi Act and the Competition Act. The Central Board of Direct Taxes (CBDT) clarified that expenditures related to contraventions or defaults under these four laws will not be considered business or professional expenses.
Risk Disclosure
Trading in financial instruments and digital currencies involves high risks, including the potential loss of your entire investment. Prices are highly volatile and can be influenced by financial, regulatory, or political events. Trading on margin increases these risks.
Before trading, be fully aware of the associated risks and costs, and consider your investment objectives, experience level, and risk appetite. Seek professional advice if necessary.
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