Clause 68 - Deductions from gross total income from ordinary sources. - Direct Taxes Code, 2010

IV - TAX INCENTIVES Deductions from gross total income from ordinary sources. 68. (1) A person shall be allowed the deductions specified in this Sub-chapter from his ''gross total income from ordinary sources'', for the financial year. (2) The aggregate amount of the deductions under this Sub-chapter shall not exceed the 'gross total income from ordinary sources', for the financial year. (3) Any sum, which qualifies for a deduction under this Sub-chapter in any financial year, shall not qualify for deduction— (a) under any other provision of this Code for the same or any other financial year; or (b) in the case of any other person. (4) The provisions of sub-section (3) shall apply whether full deduction of the sum referred to therein has been allowed or not.