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Income Tax Act, 1967.
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Chapter IV

Case III

Income chargeable under Case III.

75.—(1) Save as is hereinafter otherwise provided, income or profits chargeable under Case III of Schedule D shall, for all the purposes of ascertaining liability to income tax, be deemed to issue from a single source, and the provisions of section 77 shall apply accordingly.

(2) Subsection (1) shall not apply to the following income or profits and such income or profits shall be deemed to arise from separate sources respectively, that is to say:—

(i) income or profits chargeable under section 215.

(ii) profits chargeable under section 78, and

(iii) income from securities and possessions in any place outside the State tax on which under subsections (2) and (3) of section 76 is required to be computed by reference to the amount of the income received in the State.