Income Tax Act, 2025
Section 10: Ins. by Act 33 of 2009, s. 29 (w.e.f. 12003).
10. Ins. by Act 33 of 2009, s. 29 (w.e.f. 12003).
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(ii) in relation to any goods or services acquired, means the price that such goods or services
would cost if these were acquired by the undertaking or unit or enterprise or eligible business from
the open market, subject to statutory or regulatory restrictions, if any;]
1[(iii) in relation to any goods or services sold, supplied or acquired means the arm’s length price
as defined in clause (ii) of section 92F of such goods or services, if it is a specified domestic
transaction referred to in section 92BA.]
2[(7) Where a deduction under any provision of this Chapter under the heading ”C.—Deductions in
respect of certain incomes” is claimed and allowed in respect of profits of any of the specified business
referred to in clause (c) of sub-section (8) of section 35D for any assessment year, no deduction shall be
allowed under the provisions of section 35AD in relation to such specified business for the same or any
other assessment year.]
80AA. [Computation of deduction under section 80M].—Omitted by the Finance Act, 1997 (26 of
1997), s. 21 (w.e.f. 11998)]. Earlier inserted by Act 44 of 1980, s. 12 (w.e.f. 11968).
3[80AB. Deductions to be made with reference to the income included in the gross total
income.Where any deduction is required to be made or allowed under any section 4*** included in this
Chapter under the heading ”C.—Deductions in respect of certain incomes” in respect of any income of the
nature specified in that section which is included in the gross total income of the assessee, then,
notwithstanding anything contained in that section, for the purpose of computing the deduction under that
section, the amount of income of that nature as computed in accordance with the provisions of this Act
(before making any deduction under this Chapter) shall alone be deemed to be the amount of income of
that nature which is derived or received by the assessee and which is included in his gross total income.]
5[80AC. Deduction not to be allowed unless return furnished.—Where in computing the total
income of an assessee of any previous year relevant to the assessment year commencing on or after—
(i) the 1st day of April, 2006 but before the 1st day of April, 2018, any deduction is admissible
under section 80-IA or section 80-IAB or section 80-IB or section 80-IC or section 80-ID or
section 80-IE;
(ii) the 1st day of April, 2018, any deduction is admissible under any provision of this Chapter
under the heading “C.—Deductions in respect of certain incomes”,
no such deduction shall be allowed to him unless he furnishes a return of his income for such assessment
year on or before the due date specified under sub-section (1) of section 139.]
in relation to any goods or services acquired, means the price that such goods or services
would cost if these were acquired by the undertaking or unit or enterprise or eligible business from
the open market, subject to statutory or regulatory restrictions, if any;]
1[
in relation to any goods or services sold, supplied or acquired means the arm’s length price
as defined in clause
of section 92F of such goods or services, if it is a specified domestic
transaction referred to in section 92BA.]
2[
Where a deduction under any provision of this Chapter under the heading ”C.—Deductions in
respect of certain incomes” is claimed and allowed in respect of profits of any of the specified business
referred to in clause
of sub-section
of section 35D for any assessment year, no deduction shall be
allowed under the provisions of section 35AD in relation to such specified business for the same or any
other assessment year.]
80AA. [Computation of deduction under section 80M].—Omitted by the Finance Act, 1997 (26 of
1997), s. 21 (w.e.f. 11998)]. Earlier inserted by Act 44 of 1980, s. 12 (w.e.f. 11968).
3[80AB. Deductions to be made with reference to the income included in the gross total
income.Where any deduction is required to be made or allowed under any section 4*** included in this
Chapter under the heading ”C.—Deductions in respect of certain incomes” in respect of any income of the
nature specified in that section which is included in the gross total income of the assessee, then,
notwithstanding anything contained in that section, for the purpose of computing the deduction under that
section, the amount of income of that nature as computed in accordance with the provisions of this Act
(before making any deduction under this Chapter) shall alone be deemed to be the amount of income of
that nature which is derived or received by the assessee and which is included in his gross total income.]
5[80AC. Deduction not to be allowed unless return furnished.—Where in computing the total
income of an assessee of any previous year relevant to the assessment year commencing on or after—
the 1st day of April, 2006 but before the 1st day of April, 2018, any deduction is admissible
under section 80-IA or section 80-IAB or section 80-IB or section 80-IC or section 80-ID or
section 80-IE;
the 1st day of April, 2018, any deduction is admissible under any provision of this Chapter
under the heading “C.—Deductions in respect of certain incomes”,
no such deduction shall be allowed to him unless he furnishes a return of his income for such assessment
year on or before the due date specified under sub-section
of section 139.]