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Amendment of Section 64
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....For the purposes of clause (i) and clause (ii)" shall be substituted; (ii) after Explanation 1, the following Explanation shall be inserted, namely :- "Explanation 1A : For the purposes of clause (i), where the spouse of an individual is a beneficiary under a trust, the income arising to the trustee from the membership of the trustee in a firm carrying on a business in which such ind....
TaxTMI
TaxTMI