Income Tax Act, 2025
Section 1: Subs. by Act 33 of 2009, s. 14, for clause (i) (w.e.f. 12010).
1. Subs. by Act 33 of 2009, s. 14, for clause (i) (w.e.f. 12010).
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(iii) an undertaking referred to in sub-section (10) of section 80-IB;
(h) “long-term finance” means any loan or advance where the terms under which moneys
are loaned or advanced provide for repayment along with interest thereof during a period of
not less than five years;]
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2[(ix) any expenditure bona fide incurred by a company for the purpose of promoting family
planning amongst its employees :
Provided that where such expenditure or any part thereof is of a capital nature, one-fifth of
such expenditure shall be deducted for the previous year in which it was incurred; and the balance
thereof shall be deducted in equal instalments for each of the four immediately succeeding
previous years:
Provided further that the provisions of sub-section (2) of section 32 and of sub-section (2)
of section 72 shall apply in relation to deductions allowable under this clause as they apply in
relation to deductions allowable in respect of depreciation :
Provided further that the provisions of clauses (ii), (iii), (iv) and (v) of 3[sub-section (2) and
sub-section (5) of section 35], of sub-section (3) of section 41 and of Explanation 1 to clause (1)
of section 43 shall, so far as may be, apply in relation to an asset representing expenditure of a
capital nature for the purposes of promoting family planning as they apply in relation to an asset
representing expenditure of a capital nature on scientific research;]
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5[(xi) any expenditure incurred by the assessee, on or after the 1st day of April, 1999 but
before the 1st day of April, 2000, wholly and exclusively in respect of a non-Y2K compliant
computer system, owned by the assessee and used for the purposes of his business or profession,
so as to make such computer system Y2K compliant computer system:
Provided that no such deduction shall be allowed in respect of such expenditure under any
other provisions of this Act:
Provided further that no such deduction shall be admissible unless the assessee furnishes in
the prescribed form, along with the return of income, the report of an accountant, as defined in
the Explanation below sub-section (2) of section 288, certifying that the deduction has been
correctly claimed in accordance with the provisions of this clause.
(w.e.f. 12010).
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an undertaking referred to in sub-section
of section 80-IB;
“long-term finance” means any loan or advance where the terms under which moneys
are loaned or advanced provide for repayment along with interest thereof during a period of
not less than five years;]
1* * * * *
2[
any expenditure bona fide incurred by a company for the purpose of promoting family
planning amongst its employees :
Provided that where such expenditure or any part thereof is of a capital nature, one-fifth of
such expenditure shall be deducted for the previous year in which it was incurred; and the balance
thereof shall be deducted in equal instalments for each of the four immediately succeeding
previous years:
Provided further that the provisions of sub-section
of section 32 and of sub-section
of section 72 shall apply in relation to deductions allowable under this clause as they apply in
relation to deductions allowable in respect of depreciation :
Provided further that the provisions of clauses
and
of 3[sub-section
and
sub-section
of section 35], of sub-section
of section 41 and of Explanation 1 to clause
of section 43 shall, so far as may be, apply in relation to an asset representing expenditure of a
capital nature for the purposes of promoting family planning as they apply in relation to an asset
representing expenditure of a capital nature on scientific research;]
4* * * * *
5[
any expenditure incurred by the assessee, on or after the 1st day of April, 1999 but
before the 1st day of April, 2000, wholly and exclusively in respect of a non-Y2K compliant
computer system, owned by the assessee and used for the purposes of his business or profession,
so as to make such computer system Y2K compliant computer system:
Provided that no such deduction shall be allowed in respect of such expenditure under any
other provisions of this Act:
Provided further that no such deduction shall be admissible unless the assessee furnishes in
the prescribed form, along with the return of income, the report of an accountant, as defined in
the Explanation below sub-section
of section 288, certifying that the deduction has been
correctly claimed in accordance with the provisions of this clause.