Income-tax Act, 1961

Special provision for computing deductions in the case of business reorganization of co-operative banks.

44DB. (1) The deduction under section 32, section 35D, section 35DD or section 35DDA shall, in a case where business reorganisation of a co-operative bank has taken place during the financial year, be allowed in accordance with the provisions of this section.

(2) The amount of deduction allowable to the predecessor co-operative bank under section 32, section 35D, section 35DD or section 35DDA shall be determined in accordance with the formula-

		A -	B
			C

where	A =	the amount of deduction allowable to the predecessor co-operative bank if the business reorganisation had not taken place;
	B =	the number of days comprised in the period beginning with the 1st day of the financial year and ending on the day immediately preceding the date of business reorganisation; and
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