Section 100A: Special provisions relating to banking business

4[100A. Special provisions relating to banking business.—(1) Subject to sub- section (2), the income, profits and gains of any banking company as defined in clause (7) of section 2 and tax payable thereon shall be computed in accordance with the rules in the Seventh Schedule. (2) Sub-section (1) shall apply to the profits and gains of the banking companies relevant to tax year 2009 and onwards. 1[(3) Notwithstanding anything contained in sub-section (1), income, profits and gains and tax payable thereon shall be computed subject to the limitations and provisions contained in Chapters VII and VIII.]

Effective date: 2001-09-13

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