Section 115A: Allowable deduction from levy

115A. Allowable deduction from levy (1) Where applicable, any amount paid towards the setting up of a CSR Fund under section 50L of the Income Tax Act by a licensee specified in Part II of the Fifth Schedule shall, in the year the CSR Fund is set up, be deductible from the levy paid in that year. (2) A licensee under subsection (1) may claim any levy paid in excess during a year in such form and manner as the Director-General may determine. (3) In this section— “year” has the same meaning as in the Income Tax Act. [S. 115A inserted by s. 25 (q) of Act 18 of 2016 w.e.f. 1 October 2016.]