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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Provisions expressly mentioned in the judgment/order text.
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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