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<h1>Specified fund income under section 115AD must be computed by division specific heads and requires annual Form 10 IK filing.</h1> Income of a specified fund attributable to the investment division of an offshore banking unit is computed as A+B+C+D+E+F, where A-D are long and short term capital gains distinguished by statutory categories of securities, E is interest type income from specified securities, and F is other income from securities. Expenditure to earn any of A-F is not deductible from other sources. The eligible investment division must file an annual verified statement in Form No. 10 IK by the due date; entitlement to rates under section 115AD requires such filing.