Section 9 - Amendment of section 24 - Finance Act, 1983

9. Amendment of section 24 In section 24 of the Income-tax Act, in sub-section (1), to clause (vi), the following Explanation shall be added with effect from the 1st day of April, 1984, namely :- Explanation : Where the property has been acquired or constructed with borrowed capital, the interest, if any, payable on such capital for the period prior to the previous year in which the property has been acquired or constructed, as reduced by part thereof allowed as a deduction under any other provision of this Act, shall be deducted under this clause in equal instalments for the said previous year and for each of the four immediately succeeding previous years; .