(5)Interest expenditure not wholly deducted against income under the head "Profits and gains of business or profession" for any tax year shall be—(a)carried forward to the following tax year or years; and(b)allowed as a deduction against the profits and gains, if any, of any business or profession carried on by it and assessable for such tax year, to the extent of maximum allowable interest expenditure as per sub-section (4).
