TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Pro rata apportionment of section 32, 35D, 35DD and 35DDA deductions on cooperative bank reorganisations by days</h1> Where a co-operative bank undergoes business reorganisation (amalgamation, demerger or specified conversion) during a financial year, deductions under sections 32, 35D, 35DD and 35DDA are apportioned between predecessor and successor banks pro rata by days in the year: the predecessor's deduction equals the full-amount deduction multiplied by days before reorganisation divided by total days; the successor's deduction equals the full-amount deduction multiplied by days from reorganisation to year-end divided by total days. Deductions with multi-year conditions transfer to the successor as if reorganisation had not occurred. Definitions for amalgamation, demerger, conversion and related terms are provided.
TaxTMI 
TaxTMI 
