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Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 1 | 1 | Short title, extent and commencement | (1) This Act may be called the Income-tax Act, 2025. (2) It extends to the whole of India. (3) Save as otherwise provided in this Act, it shall come into force on the 1st April, 2026. Definitions. | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 1: PRELIMINARY | Section 1: Short title, extent and commencement | (1) This Act may be called the Income-tax Act, 2025. (2) It extends to the whole of India. (3) Save as otherwise provided in this Act, it shall come into force on the 1st April, ... | PRELIMINARY | PRELIMINARY | ITA2025_1_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 1 | 2 | Definitions | In this Act, unless the context otherwise requires,— (1) “accountant” shall have the meaning assigned to it in section 515(3)(b); (2) “Additional Commissioner” means a person appointed to be an Additional Commissioner of Income-tax under section 237(1); (3) “Additional Director” means a person appointed to be an Additi... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 1: PRELIMINARY | Section 2: Definitions | In this Act, unless the context otherwise requires,— (1) “accountant” shall have the meaning assigned to it in section 515(3)(b); (2) “Additional Commissioner” means a person appointed to be an Additiona... | PRELIMINARY | PRELIMINARY | ITA2025_2_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 1 | 3 | the International Financial Services Centres Authority Act, | Substituted by the Finance Act, 2026, w.e.f. 1-4-2026. Prior to its substitution, sub-clause (v) read as under : ‘(v) any advance or loan between two group entities, where,— (A) one of the group entity is a “Finance Company” or a “Finance Unit”; and (B) the parent entity or principal entity of such group is listed on s... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 1: PRELIMINARY | Section 3: the International Financial Services Centres Authority Act, | Substituted by the Finance Act, 2026, w.e.f. 1-4-2026. Prior to its substitution, sub-clause (v) read as under : ‘(v) any advance or loan between two group... | PRELIMINARY | PRELIMINARY | ITA2025_3_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 2 | 4 | Charge of Income-tax | (1) Where any Central Act enacts that income-tax shall be charged for any tax year at any rate or rates, income-tax for such tax year shall be charged at that rate or those rates in accordance with and subject to the provisions of this Act. (2) The charge of income-tax under sub-section (1) shall be on the total income... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 2: BASIS OF CHARGE | Section 4: Charge of Income-tax | (1) Where any Central Act enacts that income-tax shall be charged for any tax year at any rate or rates, income-tax for such tax year shall be charged at that rate or those rates in accordan... | BASIS OF CHARGE | BASIS OF CHARGE | ITA2025_4_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 2 | 5 | Scope of total income | (1) Subject to the provisions of this Act, the total income of any tax year of a person, who is a resident, includes all income from whatever source derived, which— (a) is received or deemed to be received in India in that year by or on behalf of such person; (b) accrues or arises, or is deemed to accrue or arise, to s... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 2: BASIS OF CHARGE | Section 5: Scope of total income | (1) Subject to the provisions of this Act, the total income of any tax year of a person, who is a resident, includes all income from whatever source derived, which— (a) is received or deeme... | BASIS OF CHARGE | BASIS OF CHARGE | ITA2025_5_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 2 | 6 | Residence in India | (1) For the purposes of this Act, residential status in India in a tax year of a person shall be determined as per the provisions of this section. (2) An individual shall be resident in India in a tax year, if he— (a) is in India for a total period of one hundred and eighty-two days or more in that tax year; or (b) is ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 2: BASIS OF CHARGE | Section 6: Residence in India | (1) For the purposes of this Act, residential status in India in a tax year of a person shall be determined as per the provisions of this section. (2) An individual shall be resident in India ... | BASIS OF CHARGE | BASIS OF CHARGE | ITA2025_6_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 2 | 7 | Income deemed to be received and dividend deemed to be income in a tax year | (1) The following incomes shall be deemed to be received in the tax year:— (a) the annual accretion in that year to the balance at the credit of an employee participating in a recognised provident fund, to the extent provided in paragraph 6 of Part A of Schedule XI; (b) the transferred balance in a recognised provident... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 2: BASIS OF CHARGE | Section 7: Income deemed to be received and dividend deemed to be income in a tax year | (1) The following incomes shall be deemed to be received in the tax year:— (a) the annual accretion in that year to the balance at the ... | BASIS OF CHARGE | BASIS OF CHARGE | ITA2025_7_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 2 | 8 | specified entity | (1) Where a specified person receives during the tax year any capital asset or stock-in-trade, or both, from a specified entity in connection with the dissolution or reconstitution of such specified entity, then the specified entity shall be deemed to have transferred such capital asset or stock-in-trade, or both, to t... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 2: BASIS OF CHARGE | Section 8: specified entity | (1) Where a specified person receives during the tax year any capital asset or stock-in-trade, or both, from a specified entity in connection with the dissolution or reconstitution of such speci... | BASIS OF CHARGE | BASIS OF CHARGE | ITA2025_8_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 2 | 9 | Income deemed to accrue or arise in India | (1) The income referred to in sub-sections (2) to (8) shall be deemed to accrue or arise in India. (2) The income accruing or arising, directly or indirectly, through or from— (a) any asset or source of income in India; or (b) any property in India; or (c) any business connection in India; or (d) the transfer of a capi... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 2: BASIS OF CHARGE | Section 9: Income deemed to accrue or arise in India | (1) The income referred to in sub-sections (2) to (8) shall be deemed to accrue or arise in India. (2) The income accruing or arising, directly or indirectly, through or... | BASIS OF CHARGE | BASIS OF CHARGE | ITA2025_9_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 2 | 10 | Code | If a husband and wife are governed by the community of property system (known as “COMMUNIAO DOS BENS” under the Portuguese Civil Code of 1860) in force in the State of Goa and the Union Territories of Dadra and Nagar Haveli and Daman and Diu, then— (a) their income under any head of income shall not be assessed togethe... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 2: BASIS OF CHARGE | Section 10: Code | If a husband and wife are governed by the community of property system (known as “COMMUNIAO DOS BENS” under the Portuguese Civil Code of 1860) in force in the State of Goa and the Union Territories of Dadr... | BASIS OF CHARGE | BASIS OF CHARGE | ITA2025_10_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 3 | 11 | Incomes not included in total income | (1) In computing the total income of any person for a tax year under this Act, any income enumerated in Schedules II, III, IV, V and VI shall not be included, subject to fulfilment of conditions specified therein. (2) Wherever the conditions referred to in the Schedules referred in sub-section (1) are not satisfied in ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 3: INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME | Section 11: Incomes not included in total income | (1) In computing the total income of any person for a tax year under this Act, any income enumerated in Schedules II, III, IV, V and VI shall ... | INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME | INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME | ITA2025_11_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 3 | 12 | Incomes not included in total income of political parties and electoral trusts | (1) In computing the total income of any political party or an electoral trust for a tax year under this Act, any income enumerated in Schedule VIII shall not be included, subject to fulfilment of conditions specified therein. (2) Wherever the conditions referred to in Schedule VIII are not satisfied in any tax year in... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 3: INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME | Section 12: Incomes not included in total income of political parties and electoral trusts | (1) In computing the total income of any political party or an electoral trust for a tax year under ... | INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME | INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME | ITA2025_12_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 13 | Heads of income | Save as otherwise provided in this Act, all incomes shall, for the purposes of charge of income-tax and computation of total income, be classified under the following heads of income:— (a) Salaries; (b) Income from house property; (c) Profits and gains of business or profession; (d) Capital gains; and (e) Income from o... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 13: Heads of income | Save as otherwise provided in this Act, all incomes shall, for the purposes of charge of income-tax and computation of total income, be classified under the following heads of income... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_13_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 14 | income | (1) Irrespective of anything to the contrary contained in this Act, for the purposes of computing the total income under this Chapter, no deduction shall be allowed in respect of expenditure incurred by the assessee in relation to income which does not form part of the total income. (2) Where the Assessing Officer, hav... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 14: income | (1) Irrespective of anything to the contrary contained in this Act, for the purposes of computing the total income under this Chapter, no deduction shall be allowed in respect of expenditure ... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_14_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 15 | Salaries | (1) The following income shall be chargeable to income-tax under the head “Salaries”:— (a) any salary due from an employer to an assessee in the tax year, whether paid or not; (b) any salary paid or allowed to him in the tax year by or on behalf of an employer though not due or before it became due to him; (c) any arre... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 15: Salaries | (1) The following income shall be chargeable to income-tax under the head “Salaries”:— (a) any salary due from an employer to an assessee in the tax year, whether paid or not; (b) any salar... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_15_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 18 | Profits in lieu of salary | (1) For the purposes of this Part, “profits in lieu of salary” includes,— (a) the amount of any compensation due to, or received by, an assessee from his employer or former employer at or in connection with the— (i) termination of his employment; or (ii) modification of the terms and conditions relating thereto; (b) an... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 18: Profits in lieu of salary | (1) For the purposes of this Part, “profits in lieu of salary” includes,— (a) the amount of any compensation due to, or received by, an assessee from his employer or former... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_18_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 19 | Deductions from salaries | (1) The income chargeable under the head “Salaries” shall be computed after making the deductions in respect of sums of the nature mentioned in column B of the following Table, not exceeding the amount as mentioned in column C thereof:— TABLE Sl. No. Nature of sum Amount of deduction A B C 1. 2. 3. 4. 5. Sum paid by th... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 19: Deductions from salaries | (1) The income chargeable under the head “Salaries” shall be computed after making the deductions in respect of sums of the nature mentioned in column B of the following Tab... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_19_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 20 | Income from house property | (1) The annual value of property consisting of any buildings or lands appurtenant thereto, owned by the assessee shall be chargeable to income-tax under the head “Income from house property”. (2) The provisions of sub-section (1) shall not apply to such portions of the property, as the assessee may occupy for his busin... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 20: Income from house property | (1) The annual value of property consisting of any buildings or lands appurtenant thereto, owned by the assessee shall be chargeable to income-tax under the head “Income f... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_20_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 21 | Determination of annual value | (1) For the purposes of section 20, the annual value of any property shall be deemed to be the higher of the following:— (a) the sum for which it might reasonably be expected to let from year to year; or (b) the actual rent received or receivable by the owner, if the property or any part of it is let. (2) If the proper... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 21: Determination of annual value | (1) For the purposes of section 20, the annual value of any property shall be deemed to be the higher of the following:— (a) the sum for which it might reasonably be ex... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_21_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 22 | Deductions from income from house property | (1) The income under the head “Income from house property” shall be computed after making the following deductions:— (a) 30% of the annual value as determined under section 21; (b) where the property has been acquired, constructed, repaired, renewed or reconstructed with borrowed capital, the amount of any interest pay... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 22: Deductions from income from house property | (1) The income under the head “Income from house property” shall be computed after making the following deductions:— (a) 30% of the annual value as determi... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_22_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 5 | prior to the tax year in which the property has been acquired or constructed, the amount of any interest payable for the said prior period | Substituted for “nil for” by the Finance Act, 2026, w.e.f. 1-4-2026. in five equal instalments for the said tax year and for each of the four immediately succeeding tax years. (2) In case of property or properties referred to in section 21(6), the aggregate amount of deduction under 6[sub-section (1)(b) and (c)] shall ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 5: prior to the tax year in which the property has been acquired or constructed, the amount of any interest payable for the said prior period | Substituted for “nil for” by the Finance Act, 2026, w.e.f. 1... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_5_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 23 | Arrears of rent and unrealised rent received subsequently | (1) The amount of arrears of rent received by an assessee from a tenant, or the unrealised rent realised subsequently from a tenant, shall be deemed to be the income from house property in respect of the tax year in which such rent is received or realised. (2) The amount deemed to be income from house property under su... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 23: Arrears of rent and unrealised rent received subsequently | (1) The amount of arrears of rent received by an assessee from a tenant, or the unrealised rent realised subsequently from a tenant, shall b... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_23_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 6 | sub-section (1) shall be allowed as deduction | Substituted for “sub-section (1)(b)” by the Finance Act, 2026, w.e.f. 1-4-2026. Property owned by co-owners. | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 6: sub-section (1) shall be allowed as deduction | Substituted for “sub-section (1)(b)” by the Finance Act, 2026, w.e.f. 1-4-2026. Property owned by co-owners. | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_6_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 24 | Property owned by co-owners | (1) For property co-owned with definite and ascertainable share, the co-owners shall not be assessed as an association of persons and their income computed separately under this Part as per their respective share shall be included in their total income. (2) The relief available under section 21(6) shall be provided as ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 24: Property owned by co-owners | (1) For property co-owned with definite and ascertainable share, the co-owners shall not be assessed as an association of persons and their income computed separately und... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_24_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 25 | Interpretation | For the purposes of sections 20 to 24, the “owner” in relation to a property or any part thereof shall include— (a) an individual who transfers without adequate consideration, any property to the spouse (except under an agreement to live apart), or to a minor child (other than a married daughter); (b) the holder of an ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 25: Interpretation | For the purposes of sections 20 to 24, the “owner” in relation to a property or any part thereof shall include— (a) an individual who transfers without adequate consideration, any pro... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_25_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 26 | Income under head “Profits and gains of business or profession” | (1) The incomes referred to in sub-section (2) shall be chargeable to income-tax under the head “Profits and gains of business or profession”. (2) The income under sub-section (1) shall include— (a) the profits and gains of any business or profession carried on by the assessee at any time during the tax year; (b) any c... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 26: Income under head “Profits and gains of business or profession” | (1) The incomes referred to in sub-section (2) shall be chargeable to income-tax under the head “Profits and gains of business or prof... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_26_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 27 | Manner of computing profits and gains of business or profession | The income referred to in section 26 shall be computed as per the provisions of sections 28 to 60, except section 58. Rent, rates, taxes, repairs and insurance. | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 27: Manner of computing profits and gains of business or profession | The income referred to in section 26 shall be computed as per the provisions of sections 28 to 60, except section 58. Rent, rates, tax... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_27_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 28 | Rent, rates, taxes, repairs and insurance | (1) The following amounts shall be allowed as deduction in respect of premises, machinery, plant or furniture used for the purposes of the business or profession:— (a) any premium paid in respect of insurance against risk of damage or destruction thereof; (b) land revenue, local rates or municipal taxes paid; (c) rent ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 28: Rent, rates, taxes, repairs and insurance | (1) The following amounts shall be allowed as deduction in respect of premises, machinery, plant or furniture used for the purposes of the business or profe... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_28_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 29 | Deductions related to employee welfare | (1) The following sums, in the case of an assessee being an employer, shall be allowed as deduction in computing income chargeable under section 26:— (a) any sum paid by way of contribution towards a recognised provident fund or an approved superannuation fund, subject to— (i) such limits, as may be prescribed, for rec... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 29: Deductions related to employee welfare | (1) The following sums, in the case of an assessee being an employer, shall be allowed as deduction in computing income chargeable under section 26:— (a) any s... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_29_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 7 | 7 | Substituted by the Finance Act, 2026, w.e.f. 1-4-2026. Prior to its substitution, clause (e) read as under : ‘(e) (i) the amount of contribution received from an employee to which the provisions of section 2(49)(o) apply, if it is credited by the assessee to the account of the employee in the relevant fund or funds by ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 7: 7 | Substituted by the Finance Act, 2026, w.e.f. 1-4-2026. Prior to its substitution, clause (e) read as under : ‘(e) (i) the amount of contribution received from an employee to which the provisions of... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_7_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 30 | Deduction on certain premium | The following sums shall be allowed as deduction in computing income chargeable under section 26, being premium paid:— (a) by any assessee in respect of insurance against risk of damage or destruction of stocks or stores used for the purposes of business or profession; (b) by a federal milk co-operative society to effe... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 30: Deduction on certain premium | The following sums shall be allowed as deduction in computing income chargeable under section 26, being premium paid:— (a) by any assessee in respect of insurance agains... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_30_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 31 | Deduction for bad debt and provision for bad and doubtful debt | (1) The amount mentioned in column C of the Table below, in respect of any provision for bad and doubtful debts made by the assessee specified in column B thereof, shall be allowed as a deduction in computation of income chargeable under section 26. TABLE Sl. No. Specified assessee Amount of deduction A B C 1. (a) A sc... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 31: Deduction for bad debt and provision for bad and doubtful debt | (1) The amount mentioned in column C of the Table below, in respect of any provision for bad and doubtful debts made by the assessee sp... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_31_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 32 | Other deductions | The following amounts shall be allowed as deduction in computing income chargeable under section 26:— (a) bonus or commission paid to an employee for services rendered, but only when such amount would not have been payable to the employee as profits or dividend if it had not been paid as bonus or commission; (b) intere... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 32: Other deductions | The following amounts shall be allowed as deduction in computing income chargeable under section 26:— (a) bonus or commission paid to an employee for services rendered, but only whe... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_32_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 33 | Deduction for depreciation | (1) A deduction in respect of depreciation of— (a) buildings, machinery, plant or furniture, being tangible assets; (b) know-how, patents, copyrights, trademarks, licences, franchises or any other business or commercial rights of similar nature, being intangible assets acquired on or after the 1st April, 1998, not bein... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 33: Deduction for depreciation | (1) A deduction in respect of depreciation of— (a) buildings, machinery, plant or furniture, being tangible assets; (b) know-how, patents, copyrights, trademarks, licences... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_33_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 34 | General conditions for allowable deductions | (1) Any expenditure (not being an expenditure of the nature specified in sections 28 to 33, 44 to 49, 51 and 52 and not being in the nature of capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computi... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 34: General conditions for allowable deductions | (1) Any expenditure (not being an expenditure of the nature specified in sections 28 to 33, 44 to 49, 51 and 52 and not being in the nature of capital exp... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_34_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 35 | Amounts not deductible in certain circumstances | Irrespective of any other provision of Chapter IV-D, the following amounts shall not be allowed as deduction in computing the income chargeable under the head “Profits and gains of business or profession”:— (a) any amount on account of— (i) tax paid on income; or (ii) tax paid by employer referred to in Schedule III (T... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 35: Amounts not deductible in certain circumstances | Irrespective of any other provision of Chapter IV-D, the following amounts shall not be allowed as deduction in computing the income chargeable under ... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_35_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 36 | Expenses or payments not deductible in certain circumstances | (1) The provisions of this section shall have effect irrespective of anything to the contrary contained in any other provision of this Act relating to computation of income under the head “Profits and gains of business or profession”. (2) If the assessee incurs any expenditure for which payment has been or is to be mad... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 36: Expenses or payments not deductible in certain circumstances | (1) The provisions of this section shall have effect irrespective of anything to the contrary contained in any other provision of this Ac... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_36_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 37 | Certain deductions allowed on actual payment basis only | (1) The sums payable, as specified in sub-section (2), which are otherwise allowable as a deduction under this Act, shall be allowed as a deduction while computing the income chargeable under section 26 only in the tax year in which such sums are actually paid irrespective of— (a) any provision to the contrary in this ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 37: Certain deductions allowed on actual payment basis only | (1) The sums payable, as specified in sub-section (2), which are otherwise allowable as a deduction under this Act, shall be allowed as a dedu... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_37_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 38 | Certain sums deemed as profits and gains of business or profession | (1) The following sums shall be deemed to be profits and gains of business or profession and shall be chargeable to income-tax, in the manner specified below, subject to the provisions of sub-section (2):— (a) where an allowance or deduction has been allowed in respect of any loss, expenditure or trading liability incu... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 38: Certain sums deemed as profits and gains of business or profession | (1) The following sums shall be deemed to be profits and gains of business or profession and shall be chargeable to income-tax, in ... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_38_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 39 | Computation of actual cost | (1) The actual cost of an asset used for the purposes of the business or profession shall be the actual cost to the assessee, as reduced by the following amounts:— (a) part of cost of asset, if any, met by any other person or authority, directly or indirectly; (b) goods and services tax paid in respect of which credit ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 39: Computation of actual cost | (1) The actual cost of an asset used for the purposes of the business or profession shall be the actual cost to the assessee, as reduced by the following amounts:— (a) par... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_39_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 10 | allowable under section 33(3) | Where the assessee had acquired an asset outside India, as a nonresident, and the asset is brought by him to India and put to use in his business or profession in India. Determination of actual cost C Actual cost of asset as reduced by deduction allowed for the capital asset under section 45(1)(a)(i) or under section 3... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 10: allowable under section 33(3) | Where the assessee had acquired an asset outside India, as a nonresident, and the asset is brought by him to India and put to use in his business or profession in India... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_10_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 11 | (b) calculated at the rate in force | Where capital asset is acquired Actual cost of the asset, as if there was under the scheme of corporatisa- no corporatisation. tion of a recognised stock exchange approved by the Securities and Exchange Board of India. 12. (a) Where deduction under (a) Actual cost shall be deemed to be section 46 was allowed or nil. al... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 11: (b) calculated at the rate in force | Where capital asset is acquired Actual cost of the asset, as if there was under the scheme of corporatisa- no corporatisation. tion of a recognised stock exchange... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_11_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 40 | Special provision for computation of cost of acquisition of certain assets | (1) For the purposes of computation of income under the head “Profits and gains of business or profession”, cost of acquisition of an asset which becomes property of— (a) an amalgamated company under a scheme of amalgamation; or (b) an assessee, under a gift, or will, or an irrevocable trust, or on total or partial par... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 40: Special provision for computation of cost of acquisition of certain assets | (1) For the purposes of computation of income under the head “Profits and gains of business or profession”, cost of acquisi... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_40_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 41 | Written down value of depreciable asset | (1) For the purposes of computation of income under the head “Profits and gains of business or profession”, written down value means— (a) in case the asset is acquired in the tax year, the actual cost to the assessee; (b) in case the asset is acquired before the tax year, actual cost to the assessee less depreciation a... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 41: Written down value of depreciable asset | (1) For the purposes of computation of income under the head “Profits and gains of business or profession”, written down value means— (a) in case the asset is... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_41_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 42 | Capitalising impact of foreign exchange fluctuation | (1) Irrespective of anything contained in any other provision of this Act, where at the time of making payment during the tax year, there is a variation in liability of an assessee as expressed in Indian currency, due to change in rate of exchange, in relation to an asset acquired for the purpose of business or profess... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 42: Capitalising impact of foreign exchange fluctuation | (1) Irrespective of anything contained in any other provision of this Act, where at the time of making payment during the tax year, there is a var... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_42_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 43 | Taxation of foreign exchange fluctuation | (1) Subject to the provisions of section 42, any gain or loss arising on account of change in foreign exchange rates on foreign currency transactions shall be treated as income or loss, as the case may be, and shall be computed as per the income computation and disclosure standards notified under section 276(2). (2) Th... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 43: Taxation of foreign exchange fluctuation | (1) Subject to the provisions of section 42, any gain or loss arising on account of change in foreign exchange rates on foreign currency transactions shall b... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_43_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 44 | Amortisation of certain preliminary expenses | (1) If an assessee, being an Indian company or a person (other than a company), who is resident in India, incurs any expenditure specified in sub-section (2)— (a) before the commencement of its business; or (b) after the commencement of its business, in connection with the extension of its undertaking or in connection ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 44: Amortisation of certain preliminary expenses | (1) If an assessee, being an Indian company or a person (other than a company), who is resident in India, incurs any expenditure specified in sub-section... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_44_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 45 | Expenditure on scientific research | (1)(a) A deduction shall be allowed for any expenditure, being in the nature of— (i) capital expenditure, but not on acquisition of land which is acquired as such or as part of any property; or (ii) revenue expenditure, incurred on scientific research related to the business of the assessee subject to provisions of thi... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 45: Expenditure on scientific research | (1)(a) A deduction shall be allowed for any expenditure, being in the nature of— (i) capital expenditure, but not on acquisition of land which is acquired as such ... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_45_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 46 | Capital expenditure of specified business | (1) An assessee, at his option, shall be allowed a deduction of the whole of the capital expenditure incurred, wholly and exclusively, for the purposes of any specified business carried on by him during the tax year in which such expenditure is incurred. (2) Where the expenditure referred to in sub-section (1) is incur... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 46: Capital expenditure of specified business | (1) An assessee, at his option, shall be allowed a deduction of the whole of the capital expenditure incurred, wholly and exclusively, for the purposes of a... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_46_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 12 | C | Developing, or operating and maintaining, or developing, operating and maintaining, any infrastructure facility. 1st April, 2017. | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 12: C | Developing, or operating and maintaining, or developing, operating and maintaining, any infrastructure facility. 1st April, 2017. | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_12_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 47 | Expenditure on agricultural extension project and skill development project | (1) Any expenditure (excluding cost of any land or building) incurred, on— (a) agricultural extension project by any assessee; or (b) any skill development project by a company, shall be allowed as a deduction, in the tax year in which such expenditure is incurred provided such project is notified by the Board as per t... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 47: Expenditure on agricultural extension project and skill development project | (1) Any expenditure (excluding cost of any land or building) incurred, on— (a) agricultural extension project by any asses... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_47_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 48 | development account | (1) Where an assessee is carrying on business of growing and manufac turing tea or coffee or rubber in India, such assessee shall be allowed a deduction on the basis of deposits into the special account or deposit account and computed as per the provisions of the Schedule IX. (2) Any amount withdrawn or utilised or rel... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 48: development account | (1) Where an assessee is carrying on business of growing and manufac turing tea or coffee or rubber in India, such assessee shall be allowed a deduction on the basis of deposits ... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_48_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 49 | Site Restoration Fund | (1) An assessee carrying on a business of prospecting, extracting, or producing petroleum or natural gas, or both, in India, and who has an agreement with the Central Government for this business, shall be allowed a deduction on the basis of deposit to special account or site restoration account and computed as per the... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 49: Site Restoration Fund | (1) An assessee carrying on a business of prospecting, extracting, or producing petroleum or natural gas, or both, in India, and who has an agreement with the Central Governmen... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_49_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 50 | Special provision in case of trade, profession or similar association | (1) Irrespective of anything to the contrary contained in this Act, if, during the tax year, the amount received by a specified association from its members falls short of the expenditure incurred by such association solely for the protection or advancement of common interest of its members, then the amount so falling ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 50: Special provision in case of trade, profession or similar association | (1) Irrespective of anything to the contrary contained in this Act, if, during the tax year, the amount received by a specified ... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_50_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 51 | Amortisation of expenditure for prospecting certain minerals | (1) An assessee, being an Indian company or a person (other than a company) who is resident in India, who is engaged in any operations relating to prospecting for, or extraction or production of, any mineral, shall be allowed a deduction of an amount equal to one-tenth of the amount of expenditure referred to in sub-se... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 51: Amortisation of expenditure for prospecting certain minerals | (1) An assessee, being an Indian company or a person (other than a company) who is resident in India, who is engaged in any operations re... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_51_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 52 | demerger, scheme of voluntary retirement, etc | (1) Where an expenditure of the nature specified in column B of the Table given below is incurred during the tax year, a deduction or part thereof shall be allowed in equal instalments in each of the successive tax years as mentioned in column D of the said Table, beginning from the initial tax year specified in column... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 52: demerger, scheme of voluntary retirement, etc | (1) Where an expenditure of the nature specified in column B of the Table given below is incurred during the tax year, a deduction or part thereof shall... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_52_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 53 | certain cases | (1) In case of transfer of an asset (other than a capital asset), being land or building or both, if the consideration received or accrued from such transfer is less than the stamp duty value, then such stamp duty value for computing profits and gains from transfer of such asset shall be deemed to be the full value of ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 53: certain cases | (1) In case of transfer of an asset (other than a capital asset), being land or building or both, if the consideration received or accrued from such transfer is less than the stamp dut... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_53_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 54 | Business of prospecting for mineral oils | (1) Where the assessee undertakes specified oil exploration business, then deduction specified in sub-sections (3) and (4) shall be allowed while computing the income under the head “Profits and gains of business or profession”. (2) For the purposes of this section, “specified oil exploration business” means business c... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 54: Business of prospecting for mineral oils | (1) Where the assessee undertakes specified oil exploration business, then deduction specified in sub-sections (3) and (4) shall be allowed while computing t... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_54_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 55 | Insurance business | Irrespective of anything to the contrary contained in the provisions of this Act for computing income under the head “Income from house property”, “Capital gains” or “Income from other sources”, or in section 390(5) and (6), or in sections 26 to 54, the profits and gains of any business of insurance, including any such... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 55: Insurance business | Irrespective of anything to the contrary contained in the provisions of this Act for computing income under the head “Income from house property”, “Capital gains” or “Income from ... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_55_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 56 | Special provision in case of interest income of specified financial institutions | (1) Irrespective of anything to the contrary contained in this Act, the interest income in relation to bad or doubtful debts of a specified financial institution shall be chargeable to tax under the head “Profits and gains of business or profession” in the tax year in which such interest is— (a) credited to the profit ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 56: Special provision in case of interest income of specified financial institutions | (1) Irrespective of anything to the contrary contained in this Act, the interest income in relation to bad or doubtfu... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_56_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 57 | Revenue recognition for construction and service contracts | (1) The profits and gains arising from a construction contract or a contract for providing services, shall be determined on the basis of percentage of completion method, subject to provisions of sub-section (2), as per the income computation and disclosure standards notified under section 276(2). (2) For the purposes o... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 57: Revenue recognition for construction and service contracts | (1) The profits and gains arising from a construction contract or a contract for providing services, shall be determined on the basis of pe... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_57_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 58 | on presumptive basis in case of certain residents | (1) The provisions of sections 26 to 54, to the extent contrary to this section, shall not apply to the manner of computation of profits and gains of the specified business or profession in sub-section (2). (2) The profits and gains of any specified business or profession as mentioned in column B of the Table below, ca... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 58: on presumptive basis in case of certain residents | (1) The provisions of sections 26 to 54, to the extent contrary to this section, shall not apply to the manner of computation of profits and gains o... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_58_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 59 | Computation of royalty and fee for technical services in hands of nonresidents | (1) Income in the nature of royalty or fees for technical services received by a specified assessee during a tax year, shall be computed under the head “Profits and gains of business or profession” under this Act, if the following conditions are satisfied:— (a) income is received from the Government or an Indian concer... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 59: Computation of royalty and fee for technical services in hands of nonresidents | (1) Income in the nature of royalty or fees for technical services received by a specified assessee during a tax year, ... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_59_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 8 | (1) in respect of the following amounts:— | Omitted by the Finance Act, 2026, w.e.f. 1-4-2026. Prior to its omission, sub-clause (i) read as under : “(i) has not claimed any deduction under section 144;” (a) any expenditure or allowance which is not wholly and exclusively incurred for the business of such permanent establishment or fixed place of profession in I... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 8: (1) in respect of the following amounts:— | Omitted by the Finance Act, 2026, w.e.f. 1-4-2026. Prior to its omission, sub-clause (i) read as under : “(i) has not claimed any deduction under section 144... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_8_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 60 | Deduction of head office expenditure in case of non-residents | (1) Irrespective of anything to the contrary contained in sections 26 to 54, in the case of a non-resident assessee, deduction of head office expenditure incurred by such assessee as is attributable to his business or profession in India, shall be allowed in computing the income chargeable under the head “Profits and g... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 60: Deduction of head office expenditure in case of non-residents | (1) Irrespective of anything to the contrary contained in sections 26 to 54, in the case of a non-resident assessee, deduction of head o... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_60_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 61 | of certain business activities of certain non-residents | (1) The provisions of sections 26 to 54, to the extent contrary to this section, shall not apply to the manner of computation of profits and gains of the specified business in sub-section (2). (2) The profits and gains of any specified business as mentioned in column B of the Table below, carried on by a specified asse... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 61: of certain business activities of certain non-residents | (1) The provisions of sections 26 to 54, to the extent contrary to this section, shall not apply to the manner of computation of profits and g... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_61_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 62 | Maintenance of books of account | (1)(a) Any person carrying on specified profession; or (b) any person carrying on, business; or any profession [not being a profession referred to in clause (a)] and satisfying the conditions referred to in sub-section (2), shall keep and maintain such books of account and other documents to enable the Assessing Office... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 62: Maintenance of books of account | (1)(a) Any person carrying on specified profession; or (b) any person carrying on, business; or any profession [not being a profession referred to in clause (a)] and ... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_62_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 63 | Tax audit | (1) Every person, carrying on the business or profession fulfilling any of the conditions specified in column B of the Table below, shall get his accounts of the tax year audited by an accountant, before the specified date. TABLE Sl. No. Conditions for getting books of account audited A B 1. Every person— (a) carrying ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 63: Tax audit | (1) Every person, carrying on the business or profession fulfilling any of the conditions specified in column B of the Table below, shall get his accounts of the tax year audited by an acc... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_63_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 64 | of co-operative banks | (1) The deduction under section 33 or 44 or 52(1) (Table: Sl. No. 1 or 2) shall, in a case where business reorganisation of a co-operative bank has taken place during the tax year, be allowed as per provisions of this section. (2) The amount of deduction allowable to the predecessor co-operative bank or to the successo... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 64: of co-operative banks | (1) The deduction under section 33 or 44 or 52(1) (Table: Sl. No. 1 or 2) shall, in a case where business reorganisation of a co-operative bank has taken place during the tax y... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_64_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 65 | Interpretation for purposes of section 64 | For the purposes of section 64,— (a) “amalgamation” means the merger of an amalgamating co-operative bank with an amalgamated co-operative bank, if— (i) all the assets and liabilities of the amalgamating co-operative bank or banks immediately before the merger (other than the assets transferred, by sale or distribution... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 65: Interpretation for purposes of section 64 | For the purposes of section 64,— (a) “amalgamation” means the merger of an amalgamating co-operative bank with an amalgamated co-operative bank, if— (i) all... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_65_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 66 | Interpretation | For the purposes of Part D of this Chapter,— (1) “agreement”, for the purposes of section 26(2)(h), includes any arrangement or understanding or action in concert,— (A) whether or not such arrangement, understanding or action is formal or in writing; or (B) whether or not such arrangement, understanding or action is in... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 66: Interpretation | For the purposes of Part D of this Chapter,— (1) “agreement”, for the purposes of section 26(2)(h), includes any arrangement or understanding or action in concert,— (A) whether or not... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_66_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 9 | 1961 (59 of 1961); | Substituted by the Finance Act, 2026, w.e.f. 1-4-2026. Prior to its substitution, clause (4) read as under : ‘(4) “commodities transaction tax” shall have the same meaning as assigned to it under Chapter VII of the Finance Act, 2013 (17 of 2013);’ (8) “Keyman insurance policy” shall have the meaning assigned to it in S... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 9: 1961 (59 of 1961); | Substituted by the Finance Act, 2026, w.e.f. 1-4-2026. Prior to its substitution, clause (4) read as under : ‘(4) “commodities transaction tax” shall have the same meaning as assig... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_9_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 67 | Capital gains | (1) Any profits or gains arising from the transfer of a capital asset effected in a tax year shall, save as otherwise provided in sections 82, 83, 84, 85, 86, 87, 88 and 89, be chargeable to income-tax under the head “Capital gains” and shall be deemed to be the income of the tax year in which the transfer took place. ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 67: Capital gains | (1) Any profits or gains arising from the transfer of a capital asset effected in a tax year shall, save as otherwise provided in sections 82, 83, 84, 85, 86, 87, 88 and 89, be chargea... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_67_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 68 | Capital gains on distribution of assets by companies in liquidation | (1) Irrespective of anything contained in section 67, where the assets of a company are distributed to its shareholders on its liquidation, such distribution shall not be regarded as a transfer by the company for the purposes of the said section. (2) If a shareholder, on the liquidation of a company, receives any money... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 68: Capital gains on distribution of assets by companies in liquidation | (1) Irrespective of anything contained in section 67, where the assets of a company are distributed to its shareholders on its liq... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_68_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 69 | securities | (1) If a shareholder or a holder of other specified securities receives any consideration from any company for the purchase of its own shares or other specified securities held by such shareholder or holder of other specified securities, then, subject to the provisions of section 72, the difference between the cost of ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 69: securities | (1) If a shareholder or a holder of other specified securities receives any consideration from any company for the purchase of its own shares or other specified securities held by such sh... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_69_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 70 | Transactions not regarded as transfer | (1) The provisions of section 67 shall not apply to transfer— (a) by way of distribution of capital assets on the total or partial partition of a Hindu undivided family; (b) of a capital asset by an individual or a Hindu undivided family, under a will or a gift or an irrevocable trust; (c) of a capital asset, not being... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 70: Transactions not regarded as transfer | (1) The provisions of section 67 shall not apply to transfer— (a) by way of distribution of capital assets on the total or partial partition of a Hindu undivide... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_70_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 71 | Withdrawal of exemption in certain cases | (1) The profits or gains arising from the transfer of capital asset not charged under section 67 by virtue of section 70(1)(c) and (d) shall, irrespective of anything contained in the said clauses, be deemed to be income chargeable under the head “Capital gains” of the tax year in which such transfer took place, if at ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 71: Withdrawal of exemption in certain cases | (1) The profits or gains arising from the transfer of capital asset not charged under section 67 by virtue of section 70(1)(c) and (d) shall, irrespective of... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_71_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 72 | Mode of computation of capital gains | (1) Income chargeable under the head “Capital gains” shall be computed, by deducting from the full value of the consideration received or accruing as a result of the transfer of the capital asset, the following amounts:— (a) expenditure incurred wholly and exclusively in connection with such transfer; and (b) the cost ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 72: Mode of computation of capital gains | (1) Income chargeable under the head “Capital gains” shall be computed, by deducting from the full value of the consideration received or accruing as a result of... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_72_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 73 | Cost with reference to certain modes of acquisition | (1) In the case of a capital asset specified in column B of the Table below, the cost of acquisition of the asset shall be deemed to be the cost as mentioned in column C of the said Table. TABLE Sl. No. Description of the capital asset Cost of acquisition A B C 1. If the capital asset became the property The cost for w... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 73: Cost with reference to certain modes of acquisition | (1) In the case of a capital asset specified in column B of the Table below, the cost of acquisition of the asset shall be deemed to be the cost a... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_73_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 74 | assets | (1) Irrespective of anything contained in section 2(101), for a capital asset forming part of a block of assets on which depreciation has been allowed under the Indian Income-tax Act, 1922 (11 of 1922) or under the Income-tax Act, 1961 (43 of 1961) or under this Act, the provisions of sections 72 and 73 shall be subjec... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 74: assets | (1) Irrespective of anything contained in section 2(101), for a capital asset forming part of a block of assets on which depreciation has been allowed under the Indian Income-tax Act, 1922 (1... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_74_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 75 | Special provision for cost of acquisition in case of depreciable asset | If depreciation has been obtained under section 33(2)for a capital asset in any tax year, the provisions of sections 72 and 73 shall apply subject to the modification that the written down value, as defined in section 41, of the asset, as adjusted, shall be taken as the cost of acquisition of the asset. Special provisi... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 75: Special provision for cost of acquisition in case of depreciable asset | If depreciation has been obtained under section 33(2)for a capital asset in any tax year, the provisions of sections 72 and 73 ... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_75_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 76 | Debenture | (1) Irrespective of anything contained in section 2(101) or section 72, the gains on the transfer or redemption or maturity, of a capital asset as mentioned in sub-section (2) shall be treated as short-term capital gains and shall be computed as per sub-section (3). (2) For the purposes of sub-section (1), the capital ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 76: Debenture | (1) Irrespective of anything contained in section 2(101) or section 72, the gains on the transfer or redemption or maturity, of a capital asset as mentioned in sub-section (2) shall be tre... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_76_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 77 | Special provision for computation of capital gains in case of slump sale | (1) Any profits or gains arising from the slump sale effected in the tax year shall be chargeable to income-tax as long-term capital gains and shall be deemed to be the income of the tax year in which the transfer took place, subject to the provisions of sub-section (2). (2) The profits and gains arising from a slump s... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 77: Special provision for computation of capital gains in case of slump sale | (1) Any profits or gains arising from the slump sale effected in the tax year shall be chargeable to income-tax as long-term ... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_77_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 78 | Special provision for full value of consideration in certain cases | (1) If the consideration received or accruing from the transfer of a capital asset, being land or building or both, is less than the stamp duty value, then, for the purposes of section 72, the stamp duty value shall be deemed to be the full value of the consideration received or accruing as a result of such transfer, s... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 78: Special provision for full value of consideration in certain cases | (1) If the consideration received or accruing from the transfer of a capital asset, being land or building or both, is less than th... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_78_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 79 | than quoted share | (1) If the consideration received or accruing from the transfer of a capital asset, being share of a company other than a quoted share, is less than the fair market value of such share determined in the manner as may be prescribed, the value so determined shall be deemed to be the full value of consideration received o... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 79: than quoted share | (1) If the consideration received or accruing from the transfer of a capital asset, being share of a company other than a quoted share, is less than the fair market value of such s... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_79_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 80 | Fair market value deemed to be full value of consideration in certain cases | If the consideration received or accruing from the transfer of a capital asset is not ascertainable or cannot be determined, its fair market value on the date of transfer shall be deemed to be the full value of consideration received or accruing as a result of such transfer for the purposes of computing income under th... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 80: Fair market value deemed to be full value of consideration in certain cases | If the consideration received or accruing from the transfer of a capital asset is not ascertainable or cannot be determine... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_80_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 81 | Advance money received | Where any capital asset was, on any previous occasion, the subject of nego tiations for its transfer, any advance or other money received and retained by the assessee in respect of such negotiations— (a) shall be deducted from the cost for which the asset was acquired or the written down value or the fair market value,... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 81: Advance money received | Where any capital asset was, on any previous occasion, the subject of nego tiations for its transfer, any advance or other money received and retained by the assessee in respe... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_81_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 82 | Profit on sale of property used for residence | (1) Where an individual or Hindu undivided family— (a) has long-term capital gains arising from the transfer of a capital asset, being buildings or lands appurtenant thereto, and being a residential house, the income of which is chargeable under the head “Income from house property” (original asset); and (b) has within... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 82: Profit on sale of property used for residence | (1) Where an individual or Hindu undivided family— (a) has long-term capital gains arising from the transfer of a capital asset, being buildings or land... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_82_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 83 | charged in certain cases | (1) Where an assessee, being an individual or a Hindu undivided family,— (a) has capital gains arising from the transfer of a capital asset, being land, which was used by the assessee or his parent, or the Hindu undivided family for agricultural purposes (original asset), in two years immediately preceding the date of ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 83: charged in certain cases | (1) Where an assessee, being an individual or a Hindu undivided family,— (a) has capital gains arising from the transfer of a capital asset, being land, which was used by th... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_83_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 84 | charged in certain cases | (1) Where an assessee has— (a) capital gains arising from the transfer by way of compulsory acquisition under any law, of a capital asset being land or building or any right in land or building, forming part of an industrial undertaking belonging to him, which was being used by the assessee for the business of the said... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 84: charged in certain cases | (1) Where an assessee has— (a) capital gains arising from the transfer by way of compulsory acquisition under any law, of a capital asset being land or building or any right... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_84_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 85 | Capital gains not to be charged on investment in certain bonds | (1) Where an assessee has— (a) long-term capital gains arising from the transfer of land or building, or both, (original asset); and (b) within six months after the date of such transfer, invested whole or part of the capital gains in a long-term specified asset (new asset), then, the capital gains shall be dealt with ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 85: Capital gains not to be charged on investment in certain bonds | (1) Where an assessee has— (a) long-term capital gains arising from the transfer of land or building, or both, (original asset); and (b... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_85_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 86 | investment in residential house | (1) If an individual or a Hindu undivided family has— (a) capital gains arising from the transfer of any long-term capital asset, not being a residential house (original asset); and (b) within one year before, or two years after, the date of such transfer, purchased, or has within three years after that date constructe... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 86: investment in residential house | (1) If an individual or a Hindu undivided family has— (a) capital gains arising from the transfer of any long-term capital asset, not being a residential house (origi... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_86_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 87 | undertaking from urban area | (1) If the assessee has— (a) capital gains arising from the transfer of capital asset, being machinery or plant or building or land or any rights in building or land used for the business of an industrial undertaking situated in an urban area, effected in the case of shifting of an industrial undertaking situated in an... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 87: undertaking from urban area | (1) If the assessee has— (a) capital gains arising from the transfer of capital asset, being machinery or plant or building or land or any rights in building or land used... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_87_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 88 | undertaking from urban area to any Special Economic Zone | (1) Irrespective of anything contained in section 87, if the assessee has— (a) capital gains arising from the transfer of a capital asset, being machinery or plant or building or land or any rights in building or land used for the business of an industrial undertaking situated in an urban area, effected in the course o... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 88: undertaking from urban area to any Special Economic Zone | (1) Irrespective of anything contained in section 87, if the assessee has— (a) capital gains arising from the transfer of a capital asset, be... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_88_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 89 | of capital gains | Irrespective of anything contained in sections 82, 83, 84, 85 and 86,— (a) if the transfer of the original asset mentioned in those sections is by way of compulsory acquisition under any law; and (b) if the compensation awarded for such acquisition is not received by the assessee on the date of transfer, then, the peri... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 89: of capital gains | Irrespective of anything contained in sections 82, 83, 84, 85 and 86,— (a) if the transfer of the original asset mentioned in those sections is by way of compulsory acquisition unde... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_89_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 90 | Meaning of “adjusted”, “cost of improvement” and “cost of acquisition” | (1) For the purposes of sections 72 and 73, “cost of improvement”,— (a) in relation to a capital asset being goodwill or any intangible asset of a business, or a right to manufacture, produce or process any article or thing, or right to carry on any business or profession, or any other right, shall be taken to be nil; ... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 90: Meaning of “adjusted”, “cost of improvement” and “cost of acquisition” | (1) For the purposes of sections 72 and 73, “cost of improvement”,— (a) in relation to a capital asset being goodwill or any in... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_90_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 91 | Reference to Valuation Officer | (1) For ascertaining the fair market value of a capital asset for this Chapter, the Assessing Officer may refer the valuation of the capital asset to a Valuation Officer,— (a) if the value of the asset claimed by the assessee is as per the estimate by a registered valuer, but the Assessing Officer is of the opinion tha... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 91: Reference to Valuation Officer | (1) For ascertaining the fair market value of a capital asset for this Chapter, the Assessing Officer may refer the valuation of the capital asset to a Valuation Offic... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_91_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 92 | Income from other sources | (1) Income of every kind which is not to be excluded from the total income under this Act, shall be chargeable to income-tax under the head “Income from other sources”, if it is not chargeable to income-tax under any of the heads specified in section 13(a) to (d). (2) In particular, and without prejudice to the general... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 92: Income from other sources | (1) Income of every kind which is not to be excluded from the total income under this Act, shall be chargeable to income-tax under the head “Income from other sources”, if ... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_92_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 93 | Deductions | (1) The income chargeable under the head “Income from other sources” shall be computed after making the following deductions:— [(a) for interest on securities, any reasonable sum paid as commission or remuneration to a banker or any other person for the purpose of realising such interest on behalf of the assessee;] 10b... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 93: Deductions | (1) The income chargeable under the head “Income from other sources” shall be computed after making the following deductions:— [(a) for interest on securities, any reasonable sum paid as ... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_93_0 | 0 | 1 |
Income-Tax Act, 2025 | ITA2025 | 2026-04-01T00:00:00 | 4 | 94 | Amounts not deductible | (1) Irrespective of anything contained in section 93, the following amounts shall not be deductible in computing the income of any assessee chargeable under the head “Income from other sources”:— (a) any personal expenses of the assessee; or (b) any interest chargeable under this Act, payable outside India, on which ta... | Act: Income-Tax Act, 2025 (ITA2025) | Effective From: 2026-04-01 | Chapter 4: COMPUTATION OF TOTAL INCOME | Section 94: Amounts not deductible | (1) Irrespective of anything contained in section 93, the following amounts shall not be deductible in computing the income of any assessee chargeable under the head “Income f... | COMPUTATION OF TOTAL INCOME | COMPUTATION OF TOTAL INCOME | ITA2025_94_0 | 0 | 1 |
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