Income Tax Act, 2025
Section 9: Ins. by Act 21 of 2006, s. 24 (w.e.f. 12007).
9. Ins. by Act 21 of 2006, s. 24 (w.e.f. 12007).
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1[(h) the amount of deferred tax and the provision therefor,
2[(i) the amount or amounts set aside as provision for diminution in the value of any asset,
3[(j) the amount standing in revaluation reserve relating to revalued asset on the retirement or
disposal of such asset,
4[(k) the amount of gain on transfer of units referred to in clause (xvii) of section 47 computed by
taking into account the cost of the shares exchanged with units referred to in the said clause or the
carrying amount of the shares at the time of exchange where such shares are carried at a value other
than the cost through 5[statement of profit and loss], as the case may be;]
if any amount referred to in clauses (a) to (i) is debited to the 5[statement of profit and loss] or
if any amount referred to in clause (j) is not credited to the 5[statement of profit and loss], and as reduced
by,—]]]
6[(i) the amount withdrawn from any reserve or provision (excluding a reserve created before the
1st day of April, 1997 otherwise than by way of a debit to the 5[statement of profit and loss]), if any
such amount is credited to the 5[statement of profit and loss]:
Provided that where this section is applicable to an assessee in any previous year, the amount
withdrawn from reserves created or provisions made in a previous year relevant to the assessment
year commencing on or after the 1st day of April, 1997 shall not be reduced from the book profit
unless the book profit of such year has been increased by those reserves or provisions (out of which
the said amount was withdrawn) under this Explanation or Explanation below the second proviso
to section 115JA, as the case may be; or]
(ii) the amount of income to which any of the provisions of 7[section 10 (other than the provisions
contained in clause (38) thereof)] or 8*** section 11 or section 12 apply, if any such amount is
credited to the 5[statement of profit and loss]; or
9[(iia) the amount of depreciation debited to the 5[statement of profit and loss] (excluding the
depreciation on account of revaluation of assets); or
(iib) the amount withdrawn from revaluation reserve and credited to the 5[statement of profit and
loss], to the extent it does not exceed the amount of depreciation on account of revaluation of assets
referred to in clause (iia); or]
10[(iic) the amount of income, being the share of the assessee in the income of an association of
persons or body of individuals, on which no income-tax is payable in accordance with the provisions
of section 86, if any, such amount is credited to the 5[statement of profit and loss]; or
(iid) the amount of income accruing or arising to an assessee, being a foreign company, from,—
(A) the capital gains arising on transactions in securities; or
(B) the interest, royalty or fees for technical services chargeable to tax at the rate or rates
specified in Chapter XII,
1. Subs. by Act 18 of 2008, s. 23, for the portion beginning with the words “if any amount referred” and ending with the
words “as reduced by—” (w.e.f. 12001).
2. Subs. by Act 33 of 2009, s. 46, for “if any amount referred to in clauses (a) to (h) is debited to the profit and loss account,
and as reduced by—“ (12001)
3. Subs. by Act 23 of 2012, s. 48, for “if any amount referred to in clauses (a) to (i) is debited to the profit and loss account,
and as reduced by, —” (w.e.f. 12013).
the amount of deferred tax and the provision therefor,
2[
the amount or amounts set aside as provision for diminution in the value of any asset,
3[
the amount standing in revaluation reserve relating to revalued asset on the retirement or
disposal of such asset,
4[
the amount of gain on transfer of units referred to in clause
of section 47 computed by
taking into account the cost of the shares exchanged with units referred to in the said clause or the
carrying amount of the shares at the time of exchange where such shares are carried at a value other
than the cost through 5[statement of profit and loss], as the case may be;]
if any amount referred to in clauses
to
is debited to the 5[statement of profit and loss] or
if any amount referred to in clause
is not credited to the 5[statement of profit and loss], and as reduced
by,—]]]
6[
the amount withdrawn from any reserve or provision (excluding a reserve created before the
1st day of April, 1997 otherwise than by way of a debit to the 5[statement of profit and loss]), if any
such amount is credited to the 5[statement of profit and loss]:
Provided that where this section is applicable to an assessee in any previous year, the amount
withdrawn from reserves created or provisions made in a previous year relevant to the assessment
year commencing on or after the 1st day of April, 1997 shall not be reduced from the book profit
unless the book profit of such year has been increased by those reserves or provisions (out of which
the said amount was withdrawn) under this Explanation or Explanation below the second proviso
to section 115JA, as the case may be; or]
the amount of income to which any of the provisions of 7[section 10 (other than the provisions
contained in clause
thereof)] or 8*** section 11 or section 12 apply, if any such amount is
credited to the 5[statement of profit and loss]; or
9[
the amount of depreciation debited to the 5[statement of profit and loss] (excluding the
depreciation on account of revaluation of assets); or
the amount withdrawn from revaluation reserve and credited to the 5[statement of profit and
loss], to the extent it does not exceed the amount of depreciation on account of revaluation of assets
referred to in clause
the amount of income, being the share of the assessee in the income of an association of
persons or body of individuals, on which no income-tax is payable in accordance with the provisions
of section 86, if any, such amount is credited to the 5[statement of profit and loss]; or
the amount of income accruing or arising to an assessee, being a foreign company, from,—
the capital gains arising on transactions in securities; or
the interest, royalty or fees for technical services chargeable to tax at the rate or rates
specified in Chapter XII,
1. Subs. by Act 18 of 2008, s. 23, for the portion beginning with the words “if any amount referred” and ending with the
words “as reduced by—” (w.e.f. 12001).
2. Subs. by Act 33 of 2009, s. 46, for “if any amount referred to in clauses
to
is debited to the profit and loss account,
and as reduced by—“
3. Subs. by Act 23 of 2012, s. 48, for “if any amount referred to in clauses
to
is debited to the profit and loss account,
and as reduced by, —” (w.e.f. 12013).