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TMI BlogAmortisation of expenditure incurred under voluntary retirement schemeX X X X Extracts X X X X X X X X Extracts X X X X ..... ion with ] his voluntary retirement, in accordance with any scheme or schemes of voluntary retirement, one-fifth of the amount so paid shall be deducted in computing the profits and gains of the business for that previous year, and the balance shall be deducted in equal instalments for each of the four immediately succeeding previous years. 3 [ (2) Where the assessee, being an Indian company ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o the demerged company, if the demerger had not taken place. (4) Where there has been reorganisation of business, whereby a firm is succeeded by a company fulfilling the conditions laid down in clause ( xiii ) of section 47 or a proprietary concern is succeeded by a company fulfilling the conditions laid down in clause ( xiv ) of section 47, the provisions of this section shall, as far as may b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed company referred to in 5 [sub-section (3), in the case of a firm or proprietary concern referred to in sub-section (4) and in the case of a company referred to in sub-section (4A)], for the previous year in which amalgamation, demerger or succession, as the case may be, takes place. (6) No deduction shall be allowed in respect of the expenditure mentioned in sub-section (1) under any othe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... concern referred to in sub-section (4) , the words, brackets, figures and letter subsection (3), in the case of a firm or proprietary concern referred to in sub-section (4) and in the case of a company referred to in sub-section (4A) has been substituted vide Finance Act, 2010 w.e.f. 1st day of April, 2011. - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulatio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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