Income Tax Act, 2025
Section 5: Ins. by Act 26 of 1988, s. 4 (w.e.f. 11989).
5. Ins. by Act 26 of 1988, s. 4 (w.e.f. 11989).
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Provided that the assessee furnishes to the Assessing Officer, along with his return of income for
the assessment year concerned or within such further time as the Assessing Officer may allow, a
certificate from the concerned Board, as to the amount of such subsidy paid to the assessee during the
previous year.
Explanation.—In this clause, “concerned Board” means,—
(i) in relation to rubber, the Rubber Board constituted under section 4 of the Rubber Act,
1947 (24 of 1947),
(ii) in relation to coffee, the Coffee Board constituted under section 4 of the Coffee Act, 1942
(7 of 1942),
(iii) in relation to cardamom, the Spices Board constituted under section 3 of the Spices
Board Act, 1986 (10 of 1986),
(iv) in relation to any other commodity specified under this clause, any Board or other
authority established under any law for the time being in force which the Central Government
may, by notification in the Official Gazette, specify in this behalf;]
1[(32) in the case of an assessee referred to in sub-section (1A) of section 64, any income
includible in his total income under that sub-section, to the extent such income does not exceed one
thousand five hundred rupees in respect of each minor child whose income is so includible;]
2[(33) any income arising from the transfer of a capital asset, being a unit of the Unit
Scheme, 1964 referred to in Schedule I to the Unit Trust of India (Transfer of Undertaking and
Repeal) Act, 2002 (58 of 2002) and where the transfer of such asset takes place on or after the 1st day
of April, 2002;]
2[(34) any income by way of dividends referred to in section 115-O;
3[Provided that nothing in this clause shall apply to any income by way of dividend chargeable to
tax in accordance with the provisions of section 115BBDA;]
4* * * * *
5[(34A) any income arising to an assessee, being a shareholder, on account of buy back of shares
(not being listed on a recognised stock exchange) by the company as referred to in section 115QA;]
(35) any income by way of,—
(a) income received in respect of the units of a Mutual Fund specified under clause (23D); or
(b) income received in respect of units from the Administrator of the specified
undertaking; or
(c) income received in respect of units from the specified company:
Provided that this clause shall not apply to any income arising from transfer of units of the
Administrator of the specified undertaking or of the specified company or of a mutual fund, as the
case may be.
Explanation.—For the purposes of this clause,—
(a) “Administrator” means the Administrator as referred to in clause (a) of section 2 of the
Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 (58 of 2002);
in relation to rubber, the Rubber Board constituted under section 4 of the Rubber Act,
1947 (24 of 1947),
in relation to coffee, the Coffee Board constituted under section 4 of the Coffee Act, 1942
(7 of 1942),
in relation to cardamom, the Spices Board constituted under section 3 of the Spices
Board Act, 1986 (10 of 1986),
in relation to any other commodity specified under this clause, any Board or other
authority established under any law for the time being in force which the Central Government
may, by notification in the Official Gazette, specify in this behalf;]
1[
in the case of an assessee referred to in sub-section
of section 64, any income
includible in his total income under that sub-section, to the extent such income does not exceed one
thousand five hundred rupees in respect of each minor child whose income is so includible;]
2[
any income arising from the transfer of a capital asset, being a unit of the Unit
Scheme, 1964 referred to in Schedule I to the Unit Trust of India (Transfer of Undertaking and
Repeal) Act, 2002 (58 of 2002) and where the transfer of such asset takes place on or after the 1st day
of April, 2002;]
2[
any income by way of dividends referred to in section 115-O;
3[Provided that nothing in this clause shall apply to any income by way of dividend chargeable to
tax in accordance with the provisions of section 115BBDA;]
4* * * * *
5[
any income arising to an assessee, being a shareholder, on account of buy back of shares
(not being listed on a recognised stock exchange) by the company as referred to in section 115QA;]
any income by way of,—
income received in respect of the units of a Mutual Fund specified under clause
income received in respect of units from the Administrator of the specified
undertaking; or
income received in respect of units from the specified company:
Provided that this clause shall not apply to any income arising from transfer of units of the
Administrator of the specified undertaking or of the specified company or of a mutual fund, as the
case may be.
Explanation.—For the purposes of this clause,—
“Administrator” means the Administrator as referred to in clause
of section 2 of the
Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 (58 of 2002);