Mehta Anil B. & Associates Chartered Accountants Anil Mehta  B.Com, FCA 50, 1st Flr, South Patel Nagar Mkt, Near Patel Nagar Metro Station, Opp. Metro Pillar No. 190, New Delhi-8 Cell :  98111-32901 Telefax:  4987-8684                          Home Services Payment Tax Calender Calculators Bulletins Utilities Links Acts Rules Forms News Query Careers Admin Contact Us Income Tax Corporate Services Audit Corporate Finance Services for Non-Residents Accounting Services Payroll Benefits of Outsourcing TDS/FBT Corporate Governance Trade Mark GST Registration & Returns GST Calculator Tax Calculator TDS Calculator Calculate Net Profit Calculate Net Worth Effective Capital HRA NSC EMI Auto Loan Calculator Home Loan Calculator Get No. Of Instalment Notification Circular Income Tax Company Law Service Tax Excise Matters Customs RBI SEBI FEMA Labour Laws Central Sales Tax Accounting Standards The LLP Act 2008 Accounting Standard (INDAS) Others GST VAT IGST UTGST Compensation Cess Delhi VAT 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and Records Advance Ruling Appeals and Revision Assessment and Audit Composition Demands and Recovery Input Tax Credit Inspection, Search and Seizure Offences and Penalties Payment of Tax Refund Registration Returns Transitional Provisions Value of Supply Login Email Login Time Sheet CPE Status               Income_Tax_Act Section / Rule Number   Content Act / Rule Name 14A Expenditure incurred in relation to income not includible in total income 15 Salaries 16 Deductions from salaries 17 "Salary", "perquisite" and "profits in lieu of salary" defined 18 [OMITTED BY THE FINANCE ACT, 1988 W.E.F. 1-4-1989] 22 Income from house property 23 Annual value how determined 24 Deductions from income from house property 25 Amounts not deductible from income from house property 25A Special provision for cases where unrealised rent allowed as deduction is realised subsequently 25AA Unrealised rent received subsequently to be charged to income-tax 26 Property owned by co-owners 27 "Owner of house property", "annual charge", etc., defined 29 Income from profits and gains of business or profession, how computed 30 Rent, rates, taxes, repairs and insurance for buildings 31 Repairs and insurance of machinery, plant and furniture 32 Depreciation 32A Investment allowance 33 Development rebate 33ABA Site Restoration Fund 33AC Reserves for shipping business 33B Rehabilitation allowance 34A Restriction on unabsorbed depreciation and unabsorbed investment allowance for limited period in case of certain domestic companies 35A Expenditure on acquisition of patent rights or copyrights 35AB Expenditure on know-how 35AC Expenditure on eligible projects or schemes. 35B [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1989] 35C [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1989] 35CC [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1989] 35CCB Expenditure by way of payment to associations and institutions for carrying out programmes of conservation of natural resources 36 Other deductions 37 General 38 Building, etc., partly used for business, etc., or not exclusively so used 39 [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1989] 40 Amounts not deductible 41 Profits chargeable to tax 42 Special provision for deductions in the case of business for prospecting, etc., for mineral oil 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 the 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 44AC Special provision for computing profits and gains from the busi­ness of trading in certain goods. [OMITTED BY THE FINANCE ACT, 1992, W.E.F. 1-4-1993] 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 case of non-residents 44DB Special provision for computing deductions in the case of business reorganization of co-operative banks 45 Capital gains 46 Capital gains on distribution of assets by companies in liquidation 46A Capital gains on purchase by company of its own shares or other specified securities 47 Transactions not regarded as transfer 47A Withdrawal of exemption in certain cases 48 Mode of computation 49 Cost with reference to certain modes of acquisition 50 Special provision for computation of capital gains in case of depreciable assets 50A Special provision for cost of acquisition in case of depreciable asset 50B Special provision for computation of capital gains in case of slump sale 50C Special provision for full value of consideration in certain cases 51 Advance money received 52 Consideration for transfer in cases of understatement.[OMITTED BY THE FINANCE ACT, 1987, W.E.F. 1-4-1988] 53 Exemption of capital gains from a residential house.[OMITTED BY THE FINANCE ACT, 1992, W.E.F. 1-4-1993] 54 Profit on sale of property used for residence 54A Relief of tax on capital gains in certain cases.[OMITTED BY THE FINANCE (NO. 2) ACT, 1971, W.E.F. 1-4-1972] 54B Capital gain on transfer of land used for agricultural purposes not to be charged in certain cases 54C Capital gain on transfer of jewellery held for personal use not to be charged in certain cases.[OMITTED BY THE FINANCE ACT, 1976, W.E.F. 1-4-1976] 54D Capital gain on compulsory acquisition of lands and buildings not to be charged in certain cases 54E Capital gain on transfer of capital assets not to be charged in certain cases 54EA Capital gain on transfer of long-term capital assets not to be charged in the case of investment in specified securities 54EB Capital gain on transfer of long-term capital assets not to be charged in certain cases 54EC Capital gain not to be charged on investment in certain bonds 54ED Capital gain on transfer of certain listed securities or unit, not to be charged in certain cases 54F Capital gain on transfer of certain capital assets not to be charged in case of investment in residential house 54G Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area 54GA Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone 54H Extension of time for acquiring new asset or depositing or investing amount of capital gain 55 Meaning of "adjusted", "cost of improvement" and "cost of acquisition" 55A Reference to Valuation Officer 56 Income from other sources 57 Deductions 58 Amounts not deductible 59 Profits chargeable to tax 28 Profits and gains of business or profession 35 Expenditure on scientific research 40A Expenses or payments not deductible in certain circumstances 43 Definitions of certain terms relevant to income from profits and gains of business or profession 19 ommited 14 Heads of Income 25B Special provision for arrears of rent received 32AB Investment deposit account 33A Development allowance 33AB Tea development account,coffee development account and rubber development account 34 Conditions for depreciation allowance and development rebate 35ABB Expenditure for obtaining licence to operate telecommunication services 35AD Deduction in respect of expenditure on specified business 35CCA Expenditure by way of payment to associations and institutions for carrying out rural development Programmes 35D Amortization 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 35CCC. Expenditure on agricultural extension project 35CCD. Expenditure on skill development project 50D. Fair market value deemed to be full value of consideration in certain cases 54GB. Capital gain on transfer of residential property not to be charged in certain cases 32AC Investment in new plant or machinery 43CA Special provision for full value of consideration for transfer of assets other than capital assets in certain cases 32AD. Investment in new plant or machinery in notified backward areas in certain States 35ABA Expenditure for obtaining right to use spectrum for telecommunication services 44ADA Special provision for computing profits and gains of profession on presumptive basis 54EE Capital gain not to be charged on investment in units of a specified fund 50CA Special provision for full value of consideration for transfer of share other than quoted share 43AA Taxation of foreign exchange fluctuation. 43CB Computation of income from construction and service contracts. 28 Profits and gains of business or profession.

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