Section 67: Apportionment of deductions

67. Apportionment of deductions.— (1) Subject to this Ordinance, where an expenditure1[“expenditures, deductions and allowances”] relates to – (a) the derivation of more than one head of income; or 2[(ab) derivation of income comprising of taxable income and any class of income to which sub-sections (4) and (5) of section 4 apply, or;] (b) the derivation of income chargeable to tax under a head of income and to some other purpose, the expenditure 3[“expenditures, deductions and allowances”] shall be apportioned on any reasonable basis taking account of the relative nature and size of the activities to which the amount relates. (2) The 4[Board] may make rules under section 5[237] for the purposes of apportioning deductions 6[expenditures and allowances].

Effective date: 2001-09-13

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