Income Tax Act, 2025
Section 8: Ins. by Act 18 of 2005, s. 3 (w.e.f. 12006).
8. Ins. by Act 18 of 2005, s. 3 (w.e.f. 12006).
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1[(23C) “hearing” includes communication of data and documents through electronic mode;]
(24) “income” includes—
(i) profits and gains;
(ii) dividend;
2[(iia) voluntary contributions received by a trust created wholly or partly for charitable or
religious purposes or by an institution established wholly or partly for such purposes 3[or by an
association or institution referred to in clause (21) or clause (23), or by a fund or trust or
institution referred to in sub-clause (iv) or sub-clause (v) 4[or by any university or other
educational institution referred to in sub-clause (iiiad) or sub-clause (vi) or by any hospital or
other institution referred to in sub-clause (iiiae) or sub-clause (via)] of clause (23C), of
section 10] 5[or by an electoral trust].]
Explanation.—For the purposes of this sub-clause, “trust” includes any other legal obligation;]
(iii) the value of any perquisite or profit in lieu of salary taxable under clauses (2) and (3)
of section 17;
6[(iiia) any special allowance or benefit, other than perquisite included under sub-clause (iii),
specifically granted to the assessee to meet expenses wholly, necessarily and exclusively for the
performance of the duties of an office or employment of profit;
(iiib) any allowance granted to the assessee either to meet his personal expenses at the place
where the duties of his office or employment of profit are ordinarily performed by him or at a
place where he ordinarily resides or to compensate him for the increased cost of living;]
(iv) the value of any benefit or perquisite, whether convertible into money or not, obtained
from a company either by a director or by a person who has a substantial interest in the company,
or by a relative of the director or such person, and any sum paid by any such company in respect
of any obligation which, but for such payment, would have been payable by the director or other
person aforesaid;
7[(iva) the value of any benefit or perquisite, whether convertible into money or not, obtained
by any representative assessee mentioned in clause (iii) or clause (iv) of sub-section (1) of section
160 or by any person on whose behalf or for whose benefit any income is receivable by the
representative assessee (such person being hereafter in this sub-clause referred to as the
“beneficiary”) and any sum paid by the representative assessee in respect of any obligation
which, but for such payment, would have been payable by the beneficiary;]
(v) any sum chargeable to income-tax under clauses (ii) and (iii) of section 28 or
section 41 or section 59;
8[(va) any sum chargeable to income-tax under clause (iiia) of section 28;]
“hearing” includes communication of data and documents through electronic mode;]
“income” includes—
profits and gains;
dividend;
2[
voluntary contributions received by a trust created wholly or partly for charitable or
religious purposes or by an institution established wholly or partly for such purposes 3[or by an
association or institution referred to in clause
or clause
or sub-clause
4[or by any university or other
educational institution referred to in sub-clause
or sub-clause
or by any hospital or
other institution referred to in sub-clause
or sub-clause
the value of any perquisite or profit in lieu of salary taxable under clauses
and
of section 17;
6[
any special allowance or benefit, other than perquisite included under sub-clause
any allowance granted to the assessee either to meet his personal expenses at the place
where the duties of his office or employment of profit are ordinarily performed by him or at a
place where he ordinarily resides or to compensate him for the increased cost of living;]
the value of any benefit or perquisite, whether convertible into money or not, obtained
from a company either by a director or by a person who has a substantial interest in the company,
or by a relative of the director or such person, and any sum paid by any such company in respect
of any obligation which, but for such payment, would have been payable by the director or other
person aforesaid;
7[
the value of any benefit or perquisite, whether convertible into money or not, obtained
by any representative assessee mentioned in clause
or clause
of sub-section
of section
160 or by any person on whose behalf or for whose benefit any income is receivable by the
representative assessee (such person being hereafter in this sub-clause referred to as the
“beneficiary”) and any sum paid by the representative assessee in respect of any obligation
which, but for such payment, would have been payable by the beneficiary;]
any sum chargeable to income-tax under clauses
and
of section 28 or
section 41 or section 59;
8[
any sum chargeable to income-tax under clause
of section 28;]