(2)In a case where the assessee is entitled also to deduction under any other provision of this Chapter, the deduction under this section shall be allowed with reference to the income, if any, as referred to in this section included in the gross total income as reduced by the deductions under such other provision of this Chapter.Explanation. - For the purposes of this section, -(i)"eligible business" means -(a)the marketing of agricultural produce grown by the members; or(b)the purchase of agricultural implements, seeds, livestock or other articles intended for agriculture for the purpose of supplying them to the members; or(c)the processing of the agricultural produce of the members;(ii)"member" shall have the meaning assigned to it in clause (d) of section 581A of the Companies Act, 1956;(iii)"Producer Company" shall have the meaning assigned to it in clause (l) of section 581A of the Companies Act, 1956.]
