Income-tax Act, 1961

Section - 58 - Amounts not deductible

Amounts not deductible.

58. (1) Notwithstanding anything to the contrary contained in section 57, the following amounts shall not be deductible in computing the income chargeable under the head "Income from other sources", namely :-

(a)

in the case of any assessee,-

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(i)	-	any personal expenses of the assessee ;
(ia)	-	any expenditure of the nature referred to in sub-section (12) of section 40A;
(ii)	-	any 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 Chapter XVII-B ;