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of <h1>Securities Interest Income: Allowable Deductions for Investment Expenses and Borrowed Funds Under Section 21</h1> The statutory provision outlines deductions allowable from income derived from interest on securities. Specifically, the provision permits two types of deductions: reasonable expenses incurred in realizing interest and interest paid on borrowed funds used for securities investment. The section is subject to additional provisions in section 21 of the Income Tax Act, 1961, governing the computation of interest income.
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