(2)Where the gross total income of the non-resident—(a)consists only of income by way of interest or dividends in respect of––(i)bonds referred to in sub-section (1) (Table: Sl. No. 1); or(ii)Global Depository Receipts referred to in sub-section (1) (Table: Sl. No. 2),no deduction shall be allowed under sections 28 to 58, 60 and 61 or section 93(1)(a) or (e) or under Chapter VIII;(b)includes any income referred to in sub-section (1) (Table: Sl. No. 1) to (Table: Sl. No. 3),––(i)the gross total income shall be reduced by the such income; and(ii)the deduction under Chapter VIII shall be allowed as if the gross total income so reduced, were the gross total income of the assessee.
