(7)For the purposes of this section,––(a)"actually paid" means the actual payment of expenditure irrespective of the tax year in which the liability for the expenditure was incurred according to the method of accounting regularly employed by the assessee or payable in such manner, as may be prescribed;(b)"equal instalments" shall be calculated by taking numerator as 1 and denominator as the tax years mentioned in column D of the Table in sub-section (1);(c)"specified business reorganisation" means––(i)amalgamation of an Indian company and its undertaking with another Indian company; or(ii)demerger of an undertaking of an Indian company to another company; or(iii)succession of a firm or proprietorship concern to a company fulfilling conditions as laid down in section 70(1)(zd); or(iv)conversion of a private company or unlisted public company to a limited liability partnership fulfilling conditions laid down in section 70(1)(ze).
