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Report No. 12

25. Amounts not deductible.-

Notwithstanding anything contained in section 24 [section regarding deductions], the following amounts shall not be deducted in computing the income chargeable under the head "Income from house property"-

any annual charge or interest chargeable under this Act which is payable outside India (not being interest on a loan issued for public subscription before the 1st day of April, 1938), on which tax has not been paid or deducted under section 202 or 204 [18] and in respect of which there is no person in India who may be treated as an agent under section 173 [43].

[Section 9(1)(iv), proviso]

Income-Tax Act, 1922 Back

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