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Amendment of First Schedule.

..... erted, namely:- Provided that any sum payable by the assessee under section 43B, which is added back in accordance with clause (a) of this rule, shall 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 profit .....

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..... nt; any provision for diminution in the value of investment debited to the profit and loss account, shall be added back. It is proposed to insert a new proviso to the said rule so as to provide that any sum payable by the assessee under section 43B which is added back in accordance with clause (a) of the said rule shall be allowed as deduction in computing the income in the previous year in which .....

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