Application of Section 40A extends to income from other sources, aligning its disallowance rules with business income. The amendment re numbers the existing provision and inserts a sub section providing that the provisions of Section 40A shall, so far as may be, apply in computing income chargeable under the head 'Income from other sources' as they apply in computing income chargeable under the head 'Profits and gains of business or profession.'
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Application of Section 40A extends to income from other sources, aligning its disallowance rules with business income.
The amendment re numbers the existing provision and inserts a sub section providing that the provisions of Section 40A shall, so far as may be, apply in computing income chargeable under the head "Income from other sources" as they apply in computing income chargeable under the head "Profits and gains of business or profession."
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