(7)[ the assessee's employer where such employer is a public company or a public sector company or a University established by law or a college affiliated to such University or a local authority ] [Inserted by Act 12 of 1990, Section 30 (w.e.f. 1.4.1991).][or a co-operative society] [ Inserted by Act 18 of 1992, Section 51 (w.e.f. 1.4.1992).];(d)[ stamp duty, registration fee and other expenses for the purpose of transfer of such house property to the assessee, but shall not include any payment towards or by way of- [Inserted by Act 12 of 1990, Section 30 (w.e.f. 1.4.1991).](A)the admission fee, cost of share and initial deposit which a shareholder of a company or a member of a co-operative society has to pay for becoming such shareholder or member; or][* * *] [ Clause (B) omitted by Act 49 of 1991, Section 38 (w.e.f. 1.4.1992).](C)[ the cost of any addition or alteration to, or renovation or repair of, the house property which is carried out after the issue of the completion certificate in respect of the house property by the authority competent to issue such certificate or after the house property or any part thereof has either been occupied by the assessee or any other person on his behalf or been let out; or [Inserted by Act 12 of 1990, Section 30 (w.e.f. 1.4.1991).](D)any expenditure in respect of which deduction is allowable under the provisions of section 24;](xvi)[ as subscription to equity shares or debentures forming part of any eligible issue of capital approved by the Board on an application made by a public company ] [Inserted by Act 33 of 1996, Section 34 (w.e.f. 1.4.1997).][or as subscription to any eligible issue of capital by any public financial institution] [ Inserted by Act 26 of 1997, Section 30 (w.e.f. 1.4.1998).][in the prescribed form: [Inserted by Act 33 of 1996, Section 34 (w.e.f. 1.4.1997).]Provided that where a deduction is claimed and allowed under this clause with reference to the cost of any equity shares or debentures, the cost of such shares or debentures shall not be taken into account for the purposes of sections 54-EA and 54-EB. ] [Substituted by Act 20 of 2002, Section 37, for sub-Section (1) (w.e.f. 1.4.2003).][Explanation. - For the purposes of this clause,-(i)"eligible issue of capital" means an issue made by a public company formed and registered in India or a public financial institution and the entire proceeds of the issue are utilised wholly and exclusively for the purposes of any business referred to in sub-section (4) of section 80-IA;(ii)"public company" shall have the meaning assigned to it in section 3 of the Companies Act, 1956 (1 of 1956);(iii)"public financial institution" shall have the meaning assigned to it in section 4-A of the Companies Act, 1956 (1 of 1956);](xvii)[ as subscription to any units of any mutual fund referred to in clause (23-D) of section 10 and approved by the Board on an application made by such mutual fund in the prescribed form: [Inserted by Act 33 of 1996, Section 34 (w.e.f. 1.4.1997).]Provided that where a deduction is claimed and allowed under this clause with reference to the cost of units, the cost of such units shall not be taken into account for the purposes of sections 54-EA and 54-EB:Provided further that this clause shall apply if the amount of subscription to such units is subscribed only in the eligible issue of capital of any company.Explanation. - For the purposes of this clause, "eligible issue of capital" means an issue referred to in clause (i) of the Explanation to clause (xvi) of sub-section (2) of section 88.] [ Substituted by Act 32 of 2003, Section 47, for Explanation (w.e.f. 1.4.2004).][(2-A) The provisions of sub-section (2) shall apply only to so much of any premium or other payment made on an insurance policy other than a contract for a deferred annuity as is not in excess of twenty per cent. of the actual capital sum assured.Explanation. - In calculating any such actual capital sum, no account shall be taken-(i)of the value of any premiums agreed to be returned; or(ii)of any benefit by way of bonus or otherwise over and above the sum actually assured, which is to be or may be received under the policy by any person.]
