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Income_Tax_Act

Section / Rule Number Content


14 Heads of Income
14A Expenditure incurred in relation to income not includible in total income
15 Salaries
16 Deductions from salaries
17 "Salary", "perquisite" and "profits in lieu of salary" defined
18 [OMITTED BY THE FINANCE ACT, 1988 W.E.F. 1-4-1989]
19 ommited
22 Income from house property
23 Annual value how determined
24 Deductions from income from house property
25 Amounts not deductible from income from house property
25A Special provision for cases where unrealised rent allowed as deduction is realised subsequently
25AA Unrealised rent received subsequently to be charged to income-tax
25B Special provision for arrears of rent received
26 Property owned by co-owners
27 "Owner of house property", "annual charge", etc., defined
28 Profits and gains of business or profession
29 Income from profits and gains of business or profession, how computed
30 Rent, rates, taxes, repairs and insurance for buildings
31 Repairs and insurance of machinery, plant and furniture
32 Depreciation
32A Investment allowance
32AB Investment deposit account
32AC Investment in new plant or machinery
32AD. Investment in new plant or machinery in notified backward areas in certain States
33 Development rebate
33A Development allowance
33AB Tea development account,coffee development account and rubber development account
33ABA Site Restoration Fund
33AC Reserves for shipping business
33B Rehabilitation allowance
34 Conditions for depreciation allowance and development rebate
34A Restriction on unabsorbed depreciation and unabsorbed investment allowance for limited period in case of certain domestic companies
35 Expenditure on scientific research
35A Expenditure on acquisition of patent rights or copyrights
35AB Expenditure on know-how
35ABA Expenditure for obtaining right to use spectrum for telecommunication services
35ABB Expenditure for obtaining licence to operate telecommunication services
35AC Expenditure on eligible projects or schemes.
35AD Deduction in respect of expenditure on specified business
35B [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1989]
35C [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1989]
35CC [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1989]
35CCA Expenditure by way of payment to associations and institutions for carrying out rural development Programmes
35CCB Expenditure by way of payment to associations and institutions for carrying out programmes of conservation of natural resources
35CCC. Expenditure on agricultural extension project
35CCD. Expenditure on skill development project
35D Amortization of certain preliminary expenses
35DD Amortisation of expenditure in case of amalgamation or demerger
35DDA Amortisation of expenditure incurred under voluntary retirement scheme
35E Deduction for expenditure on prospecting, etc., for certain minerals
36 Other deductions
37 General
38 Building, etc., partly used for business, etc., or not exclusively so used
39 [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1989]
40 Amounts not deductible
40A Expenses or payments not deductible in certain circumstances
41 Profits chargeable to tax
42 Special provision for deductions in the case of business for prospecting, etc., for mineral oil
43 Definitions of certain terms relevant to income from profits and gains of business or profession
43A Special provisions consequential to changes in rate of exchange of currency
43AA Taxation of foreign exchange fluctuation.
43B Certain deductions to be only on actual payment
43C Special provision for computation of cost of acquisition of certain assets
43CA Special provision for full value of consideration for transfer of assets other than capital assets in certain cases
43CB Computation of income from construction and service contracts.
43D Special provision in case of income of public financial institutions, public companies, etc.
44 Insurance business
44A Special provision for deduction in the case of trade, professional or similar association
44AA Maintenance of accounts by certain persons carrying on profession or business
44AB Audit of accounts of certain persons carrying on business or profession
44AC Special provision for computing profits and gains from the business of trading in certain goods. [OMITTED BY THE FINANCE ACT, 1992, W.E.F. 1-4-1993]
44AD Special provision for computing profits and gains of business of civil construction, etc.
44ADA Special provision for computing profits and gains of profession on presumptive basis
44AE Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages
44AF Special provisions for computing profits and gains of retail business
44B Special provision for computing profits and gains of shipping business in the case of non-residents
44BB Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils
44BBA Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents
44BBB Special provision for computing profits and gains of foreign companies, engaged in the business of civil construction, etc., in certain turnkey power projects
44C Deduction of head office expenditure in the case of non-residents
44D Special provisions for computing income by way of royalties, etc., in the case of foreign companies
44DA Special provision for computing income by way of royalties, etc., in case of non-residents
44DB Special provision for computing deductions in the case of business reorganization of co-operative banks
45 Capital gains
46 Capital gains on distribution of assets by companies in liquidation
46A Capital gains on purchase by company of its own shares or other specified securities
47 Transactions not regarded as transfer
47A Withdrawal of exemption in certain cases
48 Mode of computation
49 Cost with reference to certain modes of acquisition
50 Special provision for computation of capital gains in case of depreciable assets
50A Special provision for cost of acquisition in case of depreciable asset
50B Special provision for computation of capital gains in case of slump sale
50C Special provision for full value of consideration in certain cases
50CA Special provision for full value of consideration for transfer of share other than quoted share
50D Fair market value deemed to be full value of consideration in certain cases
51 Advance money received
52 Consideration for transfer in cases of understatement.[OMITTED BY THE FINANCE ACT, 1987, W.E.F. 1-4-1988]
53 Exemption of capital gains from a residential house.[OMITTED BY THE FINANCE ACT, 1992, W.E.F. 1-4-1993]
54 Profit on sale of property used for residence
54A Relief of tax on capital gains in certain cases.[OMITTED BY THE FINANCE (NO. 2) ACT, 1971, W.E.F. 1-4-1972]
54B Capital gain on transfer of land used for agricultural purposes not to be charged in certain cases
54C Capital gain on transfer of jewellery held for personal use not to be charged in certain cases.[OMITTED BY THE FINANCE ACT, 1976, W.E.F. 1-4-1976]
54D Capital gain on compulsory acquisition of lands and buildings not to be charged in certain cases
54E Capital gain on transfer of capital assets not to be charged in certain cases
54EA Capital gain on transfer of long-term capital assets not to be charged in the case of investment in specified securities
54EB Capital gain on transfer of long-term capital assets not to be charged in certain cases
54EC Capital gain not to be charged on investment in certain bonds
54ED Capital gain on transfer of certain listed securities or unit, not to be charged in certain cases
54EE Capital gain not to be charged on investment in units of a specified fund
54F Capital gain on transfer of certain capital assets not to be charged in case of investment in residential house
54G Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area
54GA Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone
54GB. Capital gain on transfer of residential property not to be charged in certain cases
54H Extension of time for acquiring new asset or depositing or investing amount of capital gain
55 Meaning of "adjusted", "cost of improvement" and "cost of acquisition"
55A Reference to Valuation Officer
56 Income from other sources
57 Deductions
58 Amounts not deductible
59 Profits chargeable to tax
50AA Special provision for computation of capital gains in case of market linked debenture

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