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of <h1>Companies may deduct one-fifth yearly of amalgamation/demerger expenditure over five years from year of amalgamation (Section 35DD)</h1> An Indian company that incurs expenditure wholly and exclusively for the purposes of an amalgamation or demerger on or after 1 April 1999 may deduct one-fifth of that expenditure in each of the five successive previous years beginning with the year in which the amalgamation or demerger takes place. The same expenditure cannot be claimed as a deduction under any other provision of the Income-tax Act.
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