https://www.taxtmi.com/acts?id=3531 Section 20 provided proportional allocation rules for banking companies whereby expenses admissible under sections 30, 31, 36 and 37 and interest on moneys borrowed were apportioned in the same proportion as gross receipts from taxable interest on securities bore to the company's total gross receipts in the profit and loss account; the apportioned amounts were not again deductible under those sections, and "moneys borrowed" included deposits. en-us Sat, 19 Jan 2008 22:45:54 +0530 Wed, 27 Aug 2025 12:25:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3531 Section 20 provided proportional allocation rules for banking companies whereby expenses admissible under sections 30, 31, 36 and 37 and interest on moneys borrowed were apportioned in the same proportion as gross receipts from taxable interest on securities bore to the company's total gross receipts in the profit and loss account; the apportioned amounts were not again deductible under those sections, and "moneys borrowed" included deposits. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3531