law: The Income-Tax Act, 1961
  57. Deductions.-
  The income chargeable under the head "Income from other sources" shall be computed after making the following deductions, namely:-
  (i) 1[in the case of dividends, other than dividends referred to in section 115-O], 2[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 2[or interest] on behalf of the assessee;
  3[(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 4[sub-sections (1) 5*** and (2) of section 32] and subject to the provisions of 6[section 38];
  7[(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 8[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 purposeof making or earning such income;
  9[(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.]
  *
  *
  *
  *
  *
  *
  *
  *
  1. Subs. by Act 32 of 2003, s. 32, for "in the case of dividends" (w.e.f. 1-4-2004).
  2. Ins. by Act 26 of 1988, s.19 (w.e.f. 1-4-1989).
  3. Ins. by Act 11 of 1987, s. 27 (w.e.f. 1-4-1988).
  4. Subs. by Act 42 of 1970, s. 14, for "sub-sections (1) and (2) of section 32" (w.e.f. 1-4-1970).
  5. The brackets, figure and letter "(1A)" omitted by Act 46 of 1986, s. 32 (w.e.f. 1-4-1988).
  6. Subs. by s. 32, ibid., for "sections 34 and 38" (w.e.f. 1-4-1988).
  7. Ins. by Act 13 of 1989, s. 13 (w.e.f. 1-4-1990).
  8. Subs. by Act 26 of 1997, s. 20, for "twelve thousand rupees" (w.e.f. 1-4-1998).
  9. Ins. by Act 33 of 2009, s. 27 (w.e.f. 1-4-2010).
  10. The proviso omitted by Act 32 of 1994, s. 19 (w.e.f. 1-1995).
  11. The Explanation omitted by Act 26 of 1988, s. 19 (w.e.f. 1-4-1989).