Section 36. Power to break open doors, etc

36. Power to break open doors, etc. —The officer may break open any inner or outer door or window of any building and enter any building in order to seize any movable property if the officer has reasonable grounds to believe that such building contains movable property liable to seizure under the warrant and the officer has notified his authority and intention of breaking open if admission is not given. He shall, however, give all reasonable opportunity to women to withdraw. Sale 36. Other deductions .—(1) The deductions provided for in the following clauses shall be allowed in respect of the matters dealt with therein, in computing the income referred to in section 28— (i) the amount of any premium paid in respect of insurance against risk of damage or destruction of stocks or stores used for the purposes of the business or profession; 1[(ia) the amount of any premium paid by a federal milk co-operative society to effect or to keep in force an insurance on the life of the cattle owned by a member of a co-operative society, being a primary society engaged in supplying milk raised by its members to such federal milk co-operative society;] 2[(ib) the amount of any premium paid by any mode of payment other than cash by the assessee as an employer to effect or to keep in force an insurance on the health of his employees under a scheme framed in this behalf by— (A) the General Insurance Corporation of India formed under section 9 of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972) and approved by the Central Government; or (B) any other insurer and approved by the Insurance Regulatory and Development Authority established under sub-section (1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);] (ii) any sum paid to an employee as bonus or commission for services rendered, where such sum would not have been payable to him as profits or dividend if it had not been paid as bonus or commission; 3* * * * * 4* * * * * (iii) the amount of the interest paid in respect of capital borrowed for the purposes of the business or profession: 5[Provided that any amount of the interest paid, in respect of capital borrowed for acquisition of an asset[6] * (whether capitalised in the books of account or not); for any period beginning from the date on which the capital was borrowed for acquisition of the asset till the date on which such asset was first put to use, shall not be allowed as deduction. Explanation .—Recurring subscriptions paid periodically by shareholders, or subscribers in Mutual Benefit Societies which fulfill such conditions as may be prescribed, shall be deemed to be capital borrowed within the meaning of this clause; 7[(iiia) the pro rata amount of discount on a zero coupon bond having regard to the period of life of such bond calculated in the manner as may be prescribed. 1. Ins. by Act 21 of 1979, s. 6 (w.e.f. 1-4-1980). 2. Subs. by Act 21 of 2006, s. 9, for clause (ib) (w.e.f. 1-4-2007). 3. The provisos omitted by Act 4 of 1988, s. 11 (w.e.f. 1-4-1989). 4. Clause (iia) omitted by Act 27 of 1999, s. 22 (w.e.f. 1-4-2000). 5. Ins. by Act 32 of 2003, s. 18 (w.e.f. 1-4-2004). 6. The words "for extension of existing business or profession" omitted by Act 20 of 2015, s. 13 (w.e.f. 1-4-2016). 7. Ins. by Act 18 of 2005, s. 12 (w.e.f. 1-4-2006). Explanation .—For the purposes of this clause, the expressions— (i) "discount" means the difference between the amount received or receivable by the infrastructure capital company or infrastructure capital fund or public sector company[1] [or scheduled bank] issuing the bond and the amount payable by such company or fund or public sector company[1] [or scheduled bank] on maturity or redemption of such bond; (ii) "period of life of the bond" means the period commencing from the date of issue of the bond and ending on the date of the maturity or redemption of such bond; 2* * * * *] (iv) any sum paid by the assessee as an employer by way of contribution towards a recognised provident fund or an approved superannuation fund, subject to such limits as may be prescribed for the purpose of recognising the provident fund or approving the superannuation fund, as the case may be; and subject to such conditions as the Board may think fit to specify in cases where the contributions are not in the nature of annual contributions of fixed amounts or annual contributions fixed on some definite basis by reference to the income chargeable under the head "Salaries" or to the contributions or to the number of members of the fund; 3[(iva) any sum paid by the assessee as an employer by way of contribution towards a pension scheme, as referred to in section 80CCD, on account of an employee to the extent it does not exceed ten per cent of the salary of the employee in the previous year. Explanation .—For the purposes of this clause, "salary" includes dearness allowance, if the terms of employment so provide, but excludes all other allowances and perquisites;] (v) any sum paid by the assessee as an employer by way of contribution towards an approved gratuity fund created by him for the exclusive benefit of his employees under an irrevocable trust; 4 [(va) any sum received by the assessee from any of his employees to which the provisions of sub-clause (x) of clause (24) of section 2 apply, if such sum is credited by the assessee to the employee's account in the relevant fund or funds on or before the due date. Explanation .—For the purposes of this clause, "due date" means the date by which the assessee is required as an employer to credit an employee's contribution to the employee's account in the relevant fund under any Act, rule, order or notification issued thereunder or under any standing order, award, contract of service or otherwise;] (vi) in respect of animals which have been used for the purposes of the business or profession otherwise than as stock-in-trade and have died or become permanently useless for such purposes, the difference between the actual cost to the assessee of the animals and the amount, if any, realised in respect of the carcasses or animals; (vii) subject to the provisions of sub-section (2), the amount of[5] [any bad debt or part thereof which is written off as irrecoverable in the accounts of the assessee for the previous year:] 1. Ins. by Act 33 of 2009, s. 14 (w.e.f. 1-4-2009). 2. Clause (iii) omitted by Act 21 of 2006, s. 9 (w.e.f. 1-4-2007). 3. Ins. by Act 8 of 2011, s. 5 (w.e.f. 1-4-2012). 4. Ins. by Act 11 of 1987, s. 9 (w.e.f. 1-4-1988). 5. Subs. by Act 4 of 1988, s. 11, for "any debt, or part thereof, which is established to have become a bad debt in the previous year" (w.e.f. 1-4-1989). 1[Provided that in the case of 2[an assesse] to which clause (viia) applies, the amount of the deduction relating to any such debt or part thereof shall be limited to the amount by which such debt or part thereof exceeds the credit balance in the provision for bad and doubtful debts account made under that clause:] 3[Provided further that where the amount of such debt or part thereof has been taken into account in computing the income of the assessee of the previous year in which the amount of such debt or part thereof becomes irrecoverable or of an earlier previous year on the basis of income computation and disclosure standards notified under sub-section (2) of section 145 without recording the same in the accounts, then, such debt or part thereof shall be allowed in the previous year in which such debt or part thereof becomes irrecoverable and it shall be deemed that such debt or part thereof has been written off as irrecoverable in the accounts for the purposes of this clause.] 4[5[E xplanation 1].—For the purposes of this clause, any bad debt or part thereof written off as irrecoverable in the accounts of the assessee shall not include any provision for bad and doubtful debts made in the accounts of the assessee;] 6[ Explanation 2.—For the removal of doubts, it is hereby clarified that for the purposes of the proviso to clause (vii) of this sub-section and clause (v) of sub-section (2), the account referred to therein shall be only one account in respect of provision for bad and doubtful debts under clause (viia) and such account shall relate to all types of advances, including advances made by rural branches;] 7[(viia) 8[in respect of any provision for bad and doubtful debts made by— (a) a scheduled bank [not being[9] * a bank incorporated by or under the laws of a country outside India] or a non-scheduled bank[10] [or a co-operative bank other than a primary agricultural credit society or a primary co-operative agricultural and rural development bank], an amount[11] [not exceeding[12] [eight and one-half per cent.]] of the total income (computed before making any deduction under this clause and Chapter VIA) and an amount not exceeding[13] [ten per cent.] of the aggregate average advances made by the rural branches of such bank computed in the prescribed manner: 14[Provided that a scheduled bank or a non-scheduled bank referred to in this sub-clause shall, at its option, be allowed in any of the relevant assessment years, deduction in respect of any provision made by it for any assets classified by the Reserve Bank of India as doubtful assets or loss assets in accordance with the guidelines issued by it in this behalf, for an amount not exceeding five per cent of the amount of such assets shown in the books of account of the bank on the last day of the previous year:] 1. Ins. by Act 32 of 1985, s. 10 (w.e.f. 1-4- 1985). 2. Subs. by Act 26 of 1997, s. 7, for "a bank" (w.e.f. 1-4-1992). 3. Ins. by Act 20 of 2015, s. 13 (w.e.f. 1-4-2016). 4. Ins. by Act 14 of 2001, s. 25 (w.e.f. 1-4-1989).