Section 64(2)(ii) in The Income Tax Act, 2025

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Union of India - Subsection

Section 64(2)(ii) in The Income Tax Act, 2025

(ii)for successor co-operative bank or converted banking company:—(A × D)/ Cwhere,—A = the amount of deduction allowable to the predecessor co-operative bank, if the business reorganisation had not taken place;B = the number of days comprised in the period beginning with the 1st day of the tax year and ending on the day immediately preceding the date of business reorganisation; andC = the total number of days in the tax year in which the business reorganisation has taken place.D = the number of days comprised in the period beginning with the date of business reorganisation and ending on the last day of the tax year.

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Union of India - Subsection

Section 64(2)(ii) in The Income Tax Act, 2025