Login : Advocate | Client
Home Post Your Case My Account Law College Law Library

Report No. 12

101. Deductions under interest on securities.-

Where and in so far as the total income of an assessee includes any interest on securities on which no income-tax is payable under section 87(i) or section 87(ii) [section 8 Provisos 2 and 31, the following amounts shall be deducted in computing his total income for the purposes of super-tax, namely:-

(i) any reasonable sum expended by the assessee for the purpose of realising interest on such securities;

(ii) any interest payable on money borrowed for the purpose of investment in such securities by the assessee.

Income-Tax Act, 1922 Back

Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
Powered and driven by Neosys Inc