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 […]
February 28, 2018Published by Law@HostBooks at February 28, 2018Categories CHAPTER IV - Computation of total income Income-tax Act 1961Section – 54EE : Capital gain not to be charged on investment in units of a specified fund54EE. (1) Where the capital gain arises from the transfer of a long-term capital asset […]
February 28, 2018Published by Law@HostBooks at February 28, 2018Categories CHAPTER IV - Computation of total income Income-tax Act 1961Section – 54ED : Capital gain on transfer of certain listed securities or unit not to be charged in certain cases54ED. (1) Where the capital gain arises from the transfer before the 1st day of […]