1Where any deduction is required to be made or allowed under any section 2 *** included in this Chapter under the heading "C.- Deductions in respect of certain incomes" in respect of any income of the nature specified in that section which is included in the gross total income of the assessee, then, notwithstanding anything contained in that section, for the purpose of computing the deduction under that section, the amount of income of that nature as computed in accordance with the provisions of this Act (before making any deduction under this Chapter) shall alone be deemed to be the amount of income of that nature which is derived or received by the assessee and which is included in his gross total income.
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1. Ins. by Act 44 of 1980, s. 12 (w.e.f. 1-4-1968).
2. The brackets, words, figures and letters "(except section 80M)" omitted by
Act 26 of 1997, s. 22 (w.e.f. 1-4-1998)
Section 74A Losses from certain specified sources falling under the head Income from other sources
Section 79 Carry forward and set off of losses in case of certain companies
Section 80 Submission of return for losses
Section 80A Deductions to be made in computing total income
Section 80AB Deductions to be made with reference to the income included in the gross total income
Section 80AC Deduction not to be allowed unless return furnished