Section 153(1)(c) in The Income Tax Act, 2025

[Cites 0, Cited by 0] [Section 153(1)] [Section 153] [Entire Act]

Union of India - Subsection

Section 153(1)(c) in The Income Tax Act, 2025

(c)a Hindu undivided family,shall be allowed a deduction from the gross total income, subject to conditions specified in sub-section (2), where it includes income by way of interest on deposits with––

(i)a banking company to which the Banking Regulation Act, 1949, applies (including any bank or banking institution referred to in section 51 of that Act); or

(ii)a co-operative society engaged in carrying on the business of banking (including a co-operative land mortgage bank or a co-operative land development bank); or

(iii)a Post Office as defined in section 2(k) of the Post Office Act, 2023.

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Union of India - Subsection

Section 153(1)(c) in The Income Tax Act, 2025