Income-tax Act,1961

Act No : 43

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Section : Deductions from interest on securities.

19. Deductions from interest on securities.-Subject to the provisions of section 21, the income chargeable under the head "Interest on securities" shall be computed after making the following deductions- (i) any reasonable sum expended by the assessee for the purpose of realising such interest; (ii) any interest payable on moneys borrowed for the purpose of investment in the securities by the assessee.

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