(2)Where the gross total income of the resident employee—(a)consists only of income by way of dividends in respect of Global Depository Receipts referred to in sub-section (1) (Table: Sl. No. 1), no deduction shall be allowed to him under any other provision of this Act;(b)includes any income referred to in sub-section (1) (Table: Sl. No. 1 or 2),––(i)the gross total income shall be reduced by such income; and(ii)the deduction under any provision of this Act shall be allowed as if the gross total income as so reduced were the gross total income of the assessee.
