Deductions.
4057. The income chargeable under the head Income from other sources shall be computed after making the following deductions, namely :
(i) in the case of dividends, 41[other than dividends referred to in section 115O,] 42[or interest on securities], any reasonable sum paid by way of commission or remuneration to a banker or any other person for the purpose of realising such dividend 43[or interest] on behalf of the assessee ;
44[(ia) in the case of income of the nature referred to in sub-clause (x) of clause (24) of section 2 which is chargeable to income-tax under the head Income from other sources, deductions, so far as may be, in accordance with the provisions of clause (va) of sub-section (1) of section 36 ;]
(ii) in the case of income of the nature referred to in clauses (ii) and (iii) of sub-section (2) of section 56, deductions, so far as may be, in accordance with the provisions of sub-clause (ii) of clause (a) and clause (c) of section 30, section 31 and 45[sub-sections (1) 46[***] and (2)] of section 32 and subject to the provisions of 47[section 38] ;
48[(iia) in the case of income in the nature of family pension, a deduction of a sum equal to thirty-three and one-third per cent of such income or 49[fifteen] thousand rupees, whichever is less.
Explanation.For the purposes of this clause, family pension means a regular monthly amount payable by the employer to a person belonging to the family of an employee in the event of his death ;]
(iii) any other expenditure (not being in the nature of capital expenditure) laid out or expended wholly and exclusively for the purpose 50 of making or earning such income;
51[(iv) in the case of income of the nature referred to in clause (viii) of sub-section (2) of section 56, a deduction of a sum equal to fifty per cent of such income and no deduction shall be allowed under any other clause of this section.]
52[***]
Explanation.[Omitted by the Finance Act, 1988, w.e.f. 1-4-1989.]
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