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Indian Income Tax Act, 1961
 
Chapter IV
 
Computation of Total Income
 
D - Profits and Gains of Business or Profession
 
Section No. Particulars
28   Profits and gains of business or profession



29   Income from profits and gains of business or profession, how computed



30   Rent, rates, taxes, repairs and insurance for building



31   Repairs and insurance of machinery, plant and furniture



32   Depreciation



32A   Investment allowance



32AB   Investment deposit account



33   Development rebate



33A   Development allowance



33AB   Tea development account, coffee development account and rubber development account



33ABA   Site Restoration Fund



33AC   Reserves for shipping business



33B   Rehabilitation allowance



34   Conditions for depreciation allowance and development rebate



34A   Restriction on unabsorbed depreciation and unabsorbed investment allowance for limited period in case of certain domestic companies



35   Expenditure on scientific research



35A   Expenditure on acquisition of patent rights or copyrights



35AB   Expenditure on know-how



35ABB   Expenditure for obtaining licence to operate telecommunication services



35AC   Expenditure on eligible projects or schemes



35CCA   Expenditure by way of payment to associations and institutions for carrying out rural development programmes



35CCB   Expenditure by way of payment to associations and institutions for carrying out programmes of conservation of natural resources



35D   Amortisation of certain preliminary expenses



35DD   Amortisation of expenditure in case of amalgamation or demerger



35DDA   Amortisation of expenditure incurred under voluntary retirement scheme



35E   Deduction for expenditure on prospecting, etc., for certain minerals



36   Other deductions



37   General



38   Building, etc., partly used for business, etc., or not exclusively so used



40   Amounts not deductible



40A   Expenses or payments not deductible in certain circumstances



41   Profits chargeable to tax



42   Special provision for deductions in case of business for prospecting, etc., for mineral oil



43   Definations of certain terms relevant to income from profits and gains of business or profession



43A   Special provisions consequential to changes in rate of exchange of currency



43B   Certain deductions to be only on actual payment



43C   Special provision for computation of cost of acquisition of certain assets



43D   Special provision in case of income of public financial institutions, public companies, etc.



44   Insurance business



44A   Special provision for deduction in case of trade, professional or similar association



44AA   Maintenance of accounts by certain persons carrying on profession or business



44AB   Audit of accounts of certain persons carrying on business or profession



44AD   Special provision for computing profits and gains of business of civil construction, etc.



44AE   Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages



44AF   Special provisions for computing profits and gains of retail business



44B   Special provision for computing profits and gains of shipping business in the case of non-residents



44BB   Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils



44BBA   Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents



44BBB   Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects



44C   Deduction of head office expenditure in the case of non-residents



44D   Special provisions for computing income by way of royalties, etc., in the case of foreign companies



44DA   Special provision for computing income by way of royalties, etc., in the case of non-resident



44DB   Special provision for computing deductions in the case of business reorganization of co-operative banks



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