Section 36(1)(viia) IT Act: Banks can claim 7.5% total income deduction plus 10% on average rural advances.

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....Deduction u/s 36(1) (viia) - section 36(1) (viia) clearly provides for deduction of 7.5 % of the total income and a further deduction of 10 % of the aggregate of average rural advances of the specified banks. Thus assessee is entitled to further deduction of 7.5 % of total income of the assessee over and above 10 % of aggregate of average rural advances of the bank - AT....