Income Tax Act, 2025
Section 19: Ins. by Act 38 of 1993, s. 18 (w.e.f. 11991).
19. Ins. by Act 38 of 1993, s. 18 (w.e.f. 11991).
20. Subs. by Act 11 of 1983, s. 39, for “section 80J, section 80JJ and section 80JJA” (w.e.f. 11984). Now, section 80J
omitted by Act 33 of 1996, s. 29 (w.e.f. 11989) and section 80JJ omitted by Act 26 of 1997, s. 26 (w.e.f. 11998).
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1[(4) The provisions of this section shall not apply in relation to any co-operative bank other than a
primary agricultural credit society or a primary co-operative agricultural and rural development bank.
Explanation.—For the purposes of this sub-section,—
(a) “co-operative bank” and “primary agricultural credit society” shall have the meanings
respectively assigned to them in Part V of the Banking Regulation Act, 1949 (10 of 1949);
(b) “primary co-operative agricultural and rural development bank”means a society having its
area of operation confined to a taluk and the principal object of which is to provide for long-term
credit for agricultural and rural development activities.]
2[80PA. Deduction in respect of certain income of Producer Companies.—(1) Where the gross
total income of an assessee, being a Producer Company having a total turnover of less than one hundred
crore rupees in any previous year, includes any profits and gains derived from eligible business, there
shall, in accordance with and subject to the provisions of this section, be allowed, in computing the total
income of the assessee, a deduction of an amount equal to one hundred per cent. of the profits and gains
attributable to such business for the previous year relevant to an assessment year commencing on or after
the 1st day of April, 2019, but before the 1st day of April, 2025.
(2) In a case where the assessee is entitled also to deduction under any other provision of this
Chapter, the deduction under this section shall be allowed with reference to the income, if any, as referred
to in this section included in the gross total income as reduced by the deductions under such other
provision of this Chapter.
Explanation.—For the purposes of this section,—
(i) “eligible business” means—
(a) the marketing of agricultural produce grown by the members; or
(b) the purchase of agricultural implements, seeds, livestock or other articles intended for
agriculture for the purpose of supplying them to the members; or
(c) the processing of the agricultural produce of the members;
(ii) “member” shall have the meaning assigned to it in clause (d) of section 581A of the
Companies Act, 1956;
(iii) “Producer Company” shall have the meaning assigned to it in clause (l) of section 581A of
the Companies Act, 1956.]
3[80Q. Deduction in respect of profits and gains from the business of publication of books.—(1)
Where in the case of an assessee the gross total income of the previous year relevant to the assessment
year commencing on the 1st day of April, 1992, or to any one of the four assessment years next following
that assessment year, includes any profits and gains derived from a business carried on in India of printing
and publication of books or publication of books, there shall, in accordance with and subject to the
provisions of this section, be allowed, in computing the total income of the assessee, a deduction from
such profits and gains of an amount equal to twenty per cent thereof.
(2) In a case where the assessee is entitled also to the deduction under section 80HH or section
80HHA or section 80HHC or section 80-I or section 80-IA or section 80J or section 80P, in relation to
any part of the profits and gains referred to in sub-section (1), the deduction under sub-section (1) shall be
allowed with reference to such profits and gains included in the gross total income as reduced by the
deductions under section 80HH, section 80HHA, section 80HHC, section 80-I, section 80-IA, section
80J and section 80P.
(3) For the purposes of this section, “books” shall not include newspapers, journals, magazines,
diaries, brochures, tracts, pamphlets and other publications of a similar nature by whatever name called.]
The provisions of this section shall not apply in relation to any co-operative bank other than a
primary agricultural credit society or a primary co-operative agricultural and rural development bank.
Explanation.—For the purposes of this sub-section,—
“co-operative bank” and “primary agricultural credit society” shall have the meanings
respectively assigned to them in Part V of the Banking Regulation Act, 1949 (10 of 1949);
“primary co-operative agricultural and rural development bank”means a society having its
area of operation confined to a taluk and the principal object of which is to provide for long-term
credit for agricultural and rural development activities.]
2[80PA. Deduction in respect of certain income of Producer Companies.—
Where the gross
total income of an assessee, being a Producer Company having a total turnover of less than one hundred
crore rupees in any previous year, includes any profits and gains derived from eligible business, there
shall, in accordance with and subject to the provisions of this section, be allowed, in computing the total
income of the assessee, a deduction of an amount equal to one hundred per cent. of the profits and gains
attributable to such business for the previous year relevant to an assessment year commencing on or after
the 1st day of April, 2019, but before the 1st day of April, 2025.
In a case where the assessee is entitled also to deduction under any other provision of this
Chapter, the deduction under this section shall be allowed with reference to the income, if any, as referred
to in this section included in the gross total income as reduced by the deductions under such other
provision of this Chapter.
Explanation.—For the purposes of this section,—
“eligible business” means—
the marketing of agricultural produce grown by the members; or
the purchase of agricultural implements, seeds, livestock or other articles intended for
agriculture for the purpose of supplying them to the members; or
the processing of the agricultural produce of the members;
“member” shall have the meaning assigned to it in clause
of section 581A of the
Companies Act, 1956;
“Producer Company” shall have the meaning assigned to it in clause
of section 581A of
the Companies Act, 1956.]
3[80Q. Deduction in respect of profits and gains from the business of publication of books.—
Where in the case of an assessee the gross total income of the previous year relevant to the assessment
year commencing on the 1st day of April, 1992, or to any one of the four assessment years next following
that assessment year, includes any profits and gains derived from a business carried on in India of printing
and publication of books or publication of books, there shall, in accordance with and subject to the
provisions of this section, be allowed, in computing the total income of the assessee, a deduction from
such profits and gains of an amount equal to twenty per cent thereof.
In a case where the assessee is entitled also to the deduction under section 80HH or section
80HHA or section 80HHC or section 80-I or section 80-IA or section 80J or section 80P, in relation to
any part of the profits and gains referred to in sub-section
shall be
allowed with reference to such profits and gains included in the gross total income as reduced by the
deductions under section 80HH, section 80HHA, section 80HHC, section 80-I, section 80-IA, section
80J and section 80P.
For the purposes of this section, “books” shall not include newspapers, journals, magazines,
diaries, brochures, tracts, pamphlets and other publications of a similar nature by whatever name called.]