Deduction computation: use pre-deduction measure of specified income to calculate eligible tax deductions. Deductions under Chapter C must be computed with reference to the amount of the specified income as computed under the Act before making any Chapter C ... Summary
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Deduction computation: use pre-deduction measure of specified income to calculate eligible tax deductions.
Deductions under Chapter C must be computed with reference to the amount of the specified income as computed under the Act before making any Chapter C deductions; that pre-deduction figure alone is deemed to be the income of that nature included in the assessee's gross total income for calculating the deduction.
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