Section List Income Tax Chapter IV- Computation of Income


Section – 14 : Heads of income

Section – 14A : Expenditure incurred in relation to income not includible in total income

Section – 15 : Salaries

Section – 16 : Deductions from salaries

Section – 17 : “Salary”, “perquisite” and “profits in lieu of salary” defined

Section – 18 : [Omitted by the Finance Act, 1988, w.e.f. 1-4-1989]

Section – 22 : Income from house property

Section – 23 : Annual value how determined

Section – 24 : Deductions from income from house property

Section – 25 : Amounts not deductible from income from house property

Section – 25A : Special provision for arrears of rent and unrealised rent received subsequently

Section – 26 : Property owned by co-owners

Section – 27 : “Owner of house property”, “annual charge”, etc., defined

Section – 28 : Profits and gains of business or profession

Section – 29 : Income from profits and gains of business or profession, how computed

Section – 30 : Rent, rates, taxes, repairs and insurance for buildings

Section – 31 : Repairs and insurance of machinery, plant and furniture

Section – 32 : Depreciation

Section – 32A : Investment allowance

Section – 32AB : Investment deposit account

Section – 32AC : Investment in new plant or machinery

Section – 32AD : Investment in new plant or machinery in notified backward areas in certain States

Section – 33 : Development rebate

Section – 33A : Development allowance

Section – 33AB : Tea development account, coffee development account and rubber development account

Section – 33ABA : Site Restoration Fund.

Section – 33AC : Reserves for shipping business.

Section – 33B : Rehabilitation allowance.

Section – 34 : Conditions for depreciation allowance and development rebate.

Section – 34A : Restriction on unabsorbed depreciation and unabsorbed investment allowance for limited period in case of certain domestic companies.

Section – 35 : Expenditure on scientific research

Section – 35A : Expenditure on acquisition of patent rights or copyrights.

Section – 35AB : Expenditure on know-how.

Section – 35ABA : Expenditure for obtaining right to use spectrum for telecommunication services.

Section – 35ABB : Expenditure for obtaining licence to operate telecommunication services.

Section – 35AC : Expenditure on eligible projects or schemes.

Section – 35AD : Deduction in respect of expenditure on specified business.

Section – 35B : Export markets development allowance.

Section – 35C : Agricultural development allowance.

Section – 35CC : Rural development allowance.

Section – 35CCA : Expenditure by way of payment to associations and institutions for carrying out rural development programmes.

Section – 35CCB : Expenditure by way of payment to associations and institutions for carrying out programmes of conservation of natural resources.

Section – 35CCC : Expenditure on agricultural extension project.

Section – 35CCD : Expenditure on skill development project.

Section – 35D : Amortisation of certain preliminary expenses.

Section – 35DD : Amortisation of expenditure in case of amalgamation or demerger.

Section – 35DDA : Amortisation of expenditure incurred under voluntary retirement scheme.

Section – 35E : Deduction for expenditure on prospecting, etc., for certain minerals.

Section – 36 : Other deductions.

Section – 37 : General.

Section – 38 : Building, etc., partly used for business, etc., or not exclusively so used.

Section – 39 : Managing agency commission.

Section – 40 : Amounts not deductible.

Section – 40A : Expenses or payments not deductible in certain circumstances.

Section – 41 : Profits chargeable to tax

Section – 42 : Special provision for deductions in the case of business for prospecting, etc., for mineral oil

Section – 43 : Definitions of certain terms relevant to income from profits and gains of business or profession

Section – 43A : Special provisions consequential to changes in rate of exchange of currency

Section – 43B : Certain deductions to be only on actual payment

Section – 43C : Special provision for computation of cost of acquisition of certain assets

Section – 43CA : Special provision for full value of consideration for transfer of assets other than capital assets in certain cases

Section – 43D : Special provision in case of income of public financial institutions, public companies, etc

Section – 44 : Insurance business

Section – 44A : Special provision for deduction in the case of trade, professional or similar association

Section – 44AA : Maintenance of accounts by certain persons carrying on profession or business

Section – 44AB : Audit of accounts of certain persons carrying on business or profession

Section – 44AC : Special provision for computing profits and gains from the business of trading in certain goods

Section – 44AD : Special provision for computing profits and gains of business on presumptive basis

Section – 44ADA : Special provision for computing profits and gains of profession on presumptive basis

Section – 44AE : Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages

Section – 44AF : Special provisions for computing profits and gains of retail business

Section – 44B : Special provision for computing profits and gains of shipping business in the case of non-residents

Section – 44BB : Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils

Section – 44BBA : Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents

Section – 44BBB : Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects.

Section – 44C : Deduction of head office expenditure in the case of non-residents.

Section – 44D : Special provisions for computing income by way of royalties, etc., in the case of foreign companies

Section – 44DA : Special provision for computing income by way of royalties, etc., in case of non-residents

Section – 44DB : Special provision for computing deductions in the case of business reorganization of co-operative banks

Section – 45 : Capital gains

Section – 46 : Capital gains on distribution of assets by companies in liquidation.

Section – 46A : Capital gains on purchase by company of its own shares or other specified securities

Section – 47 : Transactions not regarded as transfer

Section – 47A : Withdrawal of exemption in certain cases

Section – 48 : Mode of computation

Section – 49 : Cost with reference to certain modes of acquisition

Section – 50 : Special provision for computation of capital gains in case of depreciable assets

Section – 50A : Special provision for cost of acquisition in case of depreciable asset.

Section – 50B : Special provision for computation of capital gains in case of slump sale.

Section – 50C : Special provision for full value of consideration in certain cases.

Section – 50CA : Special provision for full value of consideration for transfer of share other than quoted share

Section – 50D : Fair market value deemed to be full value of consideration in certain cases

Section – 51 : Advance money received.

Section – 52 : Consideration for transfer in cases of understatement.

Section – 53 : Exemption of capital gains from a residential house

Section – 54 : Profit on sale of property used for residence

Section – 54A : Relief of tax on capital gains in certain cases.

Section – 54C : Capital gain on transfer of jewellery held for personal use not to be charged in certain cases

Section – 54D : Capital gain on compulsory acquisition of lands and buildings not to be charged in certain cases

Section – 54E : Capital gain on transfer of capital assets not to be charged in certain cases

Section – 54EA : Capital gain on transfer of long-term capital assets not to be charged in the case of investment in 55[specified securities]

Section – 54EB : Capital gain on transfer of long-term capital assets not to be charged in certain cases

Section – 54EC : Capital gain not to be charged on investment in certain bonds

Section – 54ED : Capital gain on transfer of certain listed securities or unit not to be charged in certain cases

Section – 54EE : Capital gain not to be charged on investment in units of a specified fund

Section – 54F : Capital gain on transfer of certain capital assets not to be charged in case of investment in residential house

Section – 54G : Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area

Section – 54GB : Capital gain on transfer of residential property not to be charged in certain cases

Section – 54H : Extension of time for acquiring new asset or depositing or investing amount of capital gain

Section – 55 : Meaning of “adjusted”, “cost of improvement” and “cost of acquisition”

Section – 55A : Reference to Valuation Officer

Section – 56 : Income from other sources

Section – 57 : Deductions

Section – 58 : Amounts not deductible

Section-59 : Profits chargeable to tax

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