Page 70 - F6 Slide - Taxation - Lecture Day 2 Class

Section 23 Prohibited Deductions

• S23 disallows the following deductions

irrespective that 11a allows the deductions:

• A Private maintenance expenditure

• Domestic or private expenditure

• Recoverable expenditure

• Interest , penalties and taxes

• Provisions and reserves

• Expenditure to produce exempt income

• Non trade expenditure

• Notional interest

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