February 28, 2018Published by Law@HostBooks at February 28, 2018Categories CHAPTER IV - Computation of total income Income-tax Act 1961Section 59 of Income Tax: Profits Chargeable to TaxSection 59 of income Tax Act 1961 is applicable while computing Income under head Proft […]
February 28, 2018Published by Law@HostBooks at February 28, 2018Categories CHAPTER IV - Computation of total income Income-tax Act 1961Section – 58 : Amounts not deductible58. (1) Notwithstanding anything to the contrary contained in section 57, the following amounts shall […]
February 28, 2018Published by Law@HostBooks at February 28, 2018Categories CHAPTER IV - Computation of total income Income-tax Act 1961Section – 57 : Deductions57. The income chargeable under the head “Income from other sources” shall be computed after […]
February 28, 2018Published by Law@HostBooks at February 28, 2018Categories CHAPTER IV - Computation of total income Income-tax Act 1961Section – 56 : Income from other sources56. (1) Income of every kind which is not to be excluded from the total […]
February 28, 2018Published by Law@HostBooks at February 28, 2018Categories CHAPTER IV - Computation of total income Income-tax Act 1961Section – 55A : Reference to Valuation Officer55A. With a view to ascertaining the fair market value of a capital asset for […]
February 28, 2018Published by Law@HostBooks at February 28, 2018Categories CHAPTER IV - Computation of total income Income-tax Act 1961Section – 55 : Meaning of “adjusted”, “cost of improvement” and “cost of acquisition”55. (1) For the purposes of sections 48 and 49,— (a) [***] (b) “cost of […]
February 28, 2018Published by Law@HostBooks at February 28, 2018Categories CHAPTER IV - Computation of total income Income-tax Act 1961Section – 54H : Extension of time for acquiring new asset or depositing or investing amount of capital gain54H. Notwithstanding anything contained in sections 54, 54B, 54D, 54EC and 54F, where the transfer […]
February 28, 2018Published by Law@HostBooks at February 28, 2018Categories CHAPTER IV - Computation of total income Income-tax Act 1961Section – 54GB : Capital gain on transfer of residential property not to be charged in certain cases54GB. (1) Where,— (i) the capital gain arises from the transfer of a long-term capital […]
February 28, 2018Published by Law@HostBooks at February 28, 2018Categories CHAPTER IV - Computation of total income Income-tax Act 1961Section – 54G : Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area54G. (1) Subject to the provisions of sub-section (2), where the capital gain arises from […]
February 28, 2018Published by Law@HostBooks at February 28, 2018Categories CHAPTER IV - Computation of total income Income-tax Act 1961Section – 54F : Capital gain on transfer of certain capital assets not to be charged in case of investment in residential house54F. (1) Subject to the provisions of sub-section (4), where, in the case of an […]