Deemed accumulated income: statutory retention remains separate from formal accumulation and requires permitted investment modes when invested.

Section 343 computes deemed accumulated income from regular income after reducing income applied under section 341 and income accumulated or set apart under section 342. The remaining balance, limited to 15% of regular income, is deemed accumulated income. This amount is distinct from formal accumulation for a specified purpose and period under section 342 and is not part of its five-year accumulation mechanism. If invested or deposited, it must be placed through a mode permitted under section 350.

---

---

---