Amendment of First Schedule.

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Full Text of the Document

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....hall be allowed as deduction in computing the income under the said rule in the previous year in which such sum is actually paid.". - Clause 104 of the Bill seeks to amend rule 5 of the First Schedule of the Income-tax Act relating to computation of profits and gains to other insurance business. The said rule provides that profits and gains of any business of insurance other than life insuranc....