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of <h1>Section 44DB: Tax Deduction Rules for Co-operative Bank Reorganizations, Effective April 1, 2008, Explained</h1> Section 44DB, introduced by the Finance Act, 2007, provides a framework for computing tax deductions in cases of business reorganization involving co-operative banks, effective from April 1, 2008. It outlines how deductions under sections 32, 35D, 35DD, and 35DDA should be calculated for both predecessor and successor co-operative banks during a financial year when such reorganization occurs. The section defines key terms such as amalgamated and amalgamating co-operative banks, amalgamation, business reorganisation, demerger, and the roles of predecessor and successor co-operative banks, ensuring that deductions are appropriately allocated during mergers or demergers.
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