Deduction rule for specified other-source income restricts deductions to a single prescribed allowance going forward. Amendment inserts a new clause in section 57 providing that in respect of income of the nature referred to in clause (viii) of sub section (2) of section ... Summary
Deduction rule for specified other-source income restricts deductions to a single prescribed allowance going forward.
Amendment inserts a new clause in section 57 providing that in respect of income of the nature referred to in clause (viii) of sub section (2) of section 56 a deduction equal to fifty per cent of such income shall be allowed and no deduction shall be allowed under any other clause of section 57.
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