Income Tax Act, 1967.

Deduction allowed in ascertaining taxable income.

137.—(1) An individual who, in the manner prescribed by this Act, makes a claim in that behalf and who makes a return in the prescribed form of his total income shall be entitled for the purpose of ascertaining the amount of the income on which he is to be charged to income tax (in this Act referred to as “the taxable income”) to have such deductions as are specified in sections 138 to 143 made from his assessable income.

(2) The provisions of Schedule 4 and of paragraph IX of Schedule 18 shall apply for the purpose of claims for any such deductions as aforesaid.