Section 36(1)(xii)-Expenditure incurred by a corporation or body corporate for the objects and purposes authorised - Income Tax - Ready Reckoner - Income Tax

Section 36(1)(xii) :- Expenditure incurred by a corporation or body corporate for the objects and purposes authorised Any revenue expenditure (not being in the nature of capital expenditure) incurred by notified corporation or a body corporate, by whatever name called shall be allowed as deduction, if,- (a) it is constituted or established by a Central, State or Provincial Act; (b) such corporation or body corporate, having regard to the objects and purposes of the Act referred to in sub-clause (a), is notified by the Central Government in the Official Gazette for the purposes of this clause; and (c) the expenditure is incurred for the objects and purposes authorised by the Act under which it is constituted or established; Notified Institutions are National Diary Development Board, Hyderabad Urban Development Authority.