Part DCA - Safe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC)
Aggregate average advances computation for rural branches of scheduled banks under business income deduction rules. For the purposes of section 36(1)(viia), the aggregate average advances of the rural branches of a scheduled bank are computed branch-wise on the basis of outstanding advances at the end of each month during the previous year. The monthly outstanding amounts for each rural branch are aggregated separately, divided by the number of months considered, and the resulting figures for all rural branches are then aggregated to determine the bank's aggregate average advances.
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Provisions expressly mentioned in the judgment/order text.
Aggregate average advances computation for rural branches of scheduled banks under business income deduction rules.
For the purposes of section 36(1)(viia), the aggregate average advances of the rural branches of a scheduled bank are computed branch-wise on the basis of outstanding advances at the end of each month during the previous year. The monthly outstanding amounts for each rural branch are aggregated separately, divided by the number of months considered, and the resulting figures for all rural branches are then aggregated to determine the bank's aggregate average advances.
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