Clause 48
Consequential amendment to Economic Expansion Incentives (Relief from Income Tax) Act
of Income Tax (Amendment) Bill
BillNot in forceProvision 48 of 49
Clause 48
Section 97ZK of the Economic Expansion Incentives (Relief from Income Tax) Act (Cap. 86) is amended by deleting paragraph (a) of the definition of “chargeable income” and substituting the following paragraph:“(a)expenses, allowances, losses, donations, any qualifying deductions available for transfer under section 37C of the Income Tax Act (Cap. 134) and any qualifying deduction claimed under section 37E of that Act; and”.