(11)For the purposes of computing income chargeable to tax under sub-section (10), no deduction in respect of any expenditure or allowance or set-off of any loss shall be allowed to the assessee under any other provision of this Act.Explanation 1.—For the purposes of sections 11, 12, 12A, 59[, 12AA, 12AB] and this section, "trust" includes any other legal obligation and for the purposes of this section "relative", in relation to an individual, means—(i)spouse of the individual;(ii)brother or sister of the individual;(iii)brother or sister of the spouse of the individual;(iv)any lineal ascendant or descendant of the individual;(v)any lineal ascendant or descendant of the spouse of the individual;(vi)spouse of a person referred to in sub-clause (ii), sub-clause (iii), sub-clause (iv) or sub-clause (v);(vii)any lineal descendant of a brother or sister of either the individual or of the spouse of the individual.Explanation 2.—A trust or institution created or established for the benefit of Scheduled Castes, backward classes, Scheduled Tribes or women and children shall not be deemed to be a trust or institution created or established for the benefit of a religious community or caste within the meaning of clause (b) of sub-section (1).Explanation 3.—For the purposes of this section, a person shall be deemed to have a substantial interest in a concern,—(i)in a case where the concern is a company, if its shares (not being shares entitled to a fixed rate of dividend whether with or without a further right to participate in profits) carrying not less than twenty per cent of the voting power are, at any time during the previous year, owned beneficially by such person or partly by such person and partly by one or more of the other persons referred to in sub-section (3);(ii)in the case of any other concern, if such person is entitled, or such person and one or more of the other persons referred to in sub-section (3) are entitled in the aggregate, at any time during the previous year, to not less than twenty per cent of the profits of such concern.
