Deductibility rules expanded: new insurance premium relief, rural-branch debt provisions and housing-finance reserve limit clarified. Amendments permit federal milk co-operative societies to deduct premiums for cattle life insurance paid on behalf of member primary societies; allow scheduled banks to claim provisions for bad and doubtful debts by rural branches up to one and a half per cent of aggregate average advances (with definitions of 'rural branch' and exclusion of co-operative banks); and extend the reserve-account deduction to include public companies providing long-term housing finance, capped at forty per cent of total income, with related proviso and definition adjustments.