https://www.taxtmi.com/acts?id=50275 The amendment modifies the deduction provision's wording to require income to "consist, in either case, only of" specified items (deemed effective from 1 April 1972) and inserts a new clause (deemed effective from 1 April 1976) declaring that where the income is derived from an asset held by or on behalf of a firm, association of persons, or body of individuals, no deduction under the provision is allowable to any partner or member in computing their total income. en-us Thu, 06 Mar 2025 18:08:00 +0530 Thu, 06 Mar 2025 18:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50275 The amendment modifies the deduction provision's wording to require income to "consist, in either case, only of" specified items (deemed effective from 1 April 1972) and inserts a new clause (deemed effective from 1 April 1976) declaring that where the income is derived from an asset held by or on behalf of a firm, association of persons, or body of individuals, no deduction under the provision is allowable to any partner or member in computing their total income. Act-Rules F. Acts / Amendment Acts Thu, 06 Mar 2025 18:08:00 +0530 https://www.taxtmi.com/acts?id=50275