Amortisation of amalgamation or demerger expenses allows equal deductions over five tax years for qualifying company expenditure. Expenditure incurred by an Indian company wholly and exclusively for the purposes of amalgamation or demerger of an undertaking is allowed as a deduction by amortisation in equal instalments over five successive tax years, beginning with the tax year in which the amalgamation or demerger takes place. The deduction is confined to the company that incurs the expenditure and applies only to qualifying amalgamation or demerger expenses. No deduction is available for the same expenditure under any other provision of the Act.