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- “Limited partnership
- 36C.—(1) For the purposes of this Act, except as otherwise provided—
- (a) references to a partnership include references to a limited partnership; and
- (b) references to partners of a partnership include references to partners of a limited partnership.
- (2) In ascertaining the income of a limited partnership for the purpose of section 36(1)(a), section 10E shall apply to income from any business of the making of investments as if the limited partnership were a company.
- (3) For any year of assessment, the amount of relevant deductions that may be allowed to or transferred by a limited partner of a limited partnership shall not exceed—
- (a) in the case of a relevant deduction allowed to him under section 35(2), an amount equal to the amount ascertained in accordance with the formula
- A–B;
- (b) in the case of a relevant deduction allowed to him under section 37(3)(a), an amount equal to the amount ascertained in accordance with the formula
- A–B–C;
- (c) in the case of a transferred deduction transferred by him, an amount equal to the amount ascertained in accordance with the formula
- A–B–C–D; and
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