Notwithstanding anything to the contrary contained in the provisions of this Act relating to the computation of income
chargeable under the head "Interest on securities", "Income from house property", "Capital gains" or "Income from other sources", or in section 199
or in sections 28
, the profits and gains of any business
of insurance, including any such business carried on by a mutual insurance company
or by a co-operative society, shall be computed in accordance with the rules contained in the First Schedule.