Amendment of Section 37

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..... e provisions of sub-section (3), where the aggregate expenditure incurred by an assessee on advertisement, publicity and sales promotion in India exceeds forty thousand rupees, so much of such aggregate expenditure as is equal to an amount calculated as provided hereunder shall not be allowed as a deduction, namely :- (i) where such aggregate expenditure does not exceed 1/4 per cent. of the turnov .....

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..... such expenditure as is not allowed under sub-section (3); (b) turnover and gross receipts means turnover or gross receipts, as the case may be, as reduced by any discount or rebate allowed by the assessee. (3B) Nothing contained in sub-section (3A) shall apply in relation to any expenditure incurred by an assessee on - (i) advertisement in any small newspaper; (ii) advertisement in any newspaper .....

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..... aper in the year in which such advertisement has been published, is certified by the prescribed authority as not exceeding fifteen thousand copies. Explanation 2 : Average circulation , in relation to any newspaper, shall be taken to be the number arrived at by dividing the aggregate of the number of copies of such newspaper circulated during a year by the total number of days on which such newspa .....

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