{"product_id":"income-tax-act-2026","title":"INCOME TAX ACT, 2025","description":"\u003cdiv\u003eCHAPTER I\u003c\/div\u003e\n\u003cdiv\u003ePRELIMINARY\u003c\/div\u003e\n\u003cdiv\u003e\u003cbr\u003e\u003c\/div\u003e\n\u003cdiv\u003e1.\u003cspan\u003e \u003c\/span\u003eShort title, extent and commencement\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e2.\u003cspan\u003e \u003c\/span\u003eDefinitions\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e3.\u003cspan\u003e \u003c\/span\u003eDefinition of “tax year”\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e\u003c\/div\u003e\n\u003cdiv\u003eCHAPTER II\u003c\/div\u003e\n\u003cdiv\u003eBASIS OF CHARGE\u003c\/div\u003e\n\u003cdiv\u003e4.\u003cspan\u003e \u003c\/span\u003eCharge of income-tax\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e5.\u003cspan\u003e \u003c\/span\u003eScope of total income\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e6.\u003cspan\u003e \u003c\/span\u003eResidence in India\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e7.\u003cspan\u003e \u003c\/span\u003eIncome deemed to be received and dividend deemed to be income in a tax year\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e8.\u003cspan\u003e \u003c\/span\u003eIncome on receipt of capital asset or stock-in-trade by specified person from specified entity\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e9.\u003cspan\u003e \u003c\/span\u003eIncome deemed to accrue or arise in India\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e10.\u003cspan\u003e \u003c\/span\u003eApportionment of income between spouses governed by Portuguese Civil Code\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e\u003c\/div\u003e\n\u003cdiv\u003eCHAPTER III\u003c\/div\u003e\n\u003cdiv\u003eINCOMES WHICH DO NOT FORM PART OF TOTAL INCOME\u003c\/div\u003e\n\u003cdiv\u003eA.—Incomes not to be included in total income\u003c\/div\u003e\n\u003cdiv\u003e11.\u003cspan\u003e \u003c\/span\u003eIncomes not included in total income\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003eB.—Incomes not to be included in total income of political parties and electoral trusts\u003c\/div\u003e\n\u003cdiv\u003e12.\u003cspan\u003e \u003c\/span\u003eIncomes not included in total income of political parties and electoral trusts\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e\u003c\/div\u003e\n\u003cdiv\u003eCHAPTER IV\u003c\/div\u003e\n\u003cdiv\u003eCOMPUTATION OF TOTAL INCOME\u003c\/div\u003e\n\u003cdiv\u003eA.—Heads of income\u003c\/div\u003e\n\u003cdiv\u003e13.\u003cspan\u003e \u003c\/span\u003eHeads of income\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e14.\u003cspan\u003e \u003c\/span\u003eIncome not forming part of total income and expenditure in relation to such income\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e\u003c\/div\u003e\n\u003cdiv\u003eB.—Salaries\u003c\/div\u003e\n\u003cdiv\u003e15.\u003cspan\u003e \u003c\/span\u003eSalaries\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e16.\u003cspan\u003e \u003c\/span\u003eIncome from salary\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e17.\u003cspan\u003e \u003c\/span\u003ePerquisite\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e18.\u003cspan\u003e \u003c\/span\u003eProfits in lieu of salary\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e19.\u003cspan\u003e \u003c\/span\u003eDeductions from salaries\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e\u003c\/div\u003e\n\u003cdiv\u003eC.—Income from house property\u003c\/div\u003e\n\u003cdiv\u003eSection No.\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e20.\u003cspan\u003e \u003c\/span\u003eIncome from house property\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e21.\u003cspan\u003e \u003c\/span\u003eDetermination of annual value\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e22.\u003cspan\u003e \u003c\/span\u003eDeductions from income from house property\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e23.\u003cspan\u003e \u003c\/span\u003eArrears of rent and unrealised rent received subsequently\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e24.\u003cspan\u003e \u003c\/span\u003eProperty owned by co-owners\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e25.\u003cspan\u003e \u003c\/span\u003eInterpretation\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e\u003c\/div\u003e\n\u003cdiv\u003eD.—Profits and gains of business or profession\u003c\/div\u003e\n\u003cdiv\u003e26.\u003cspan\u003e \u003c\/span\u003eIncome under head “Profits and gains of business or profession”\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e27.\u003cspan\u003e \u003c\/span\u003eManner of computing profits and gains of business or profession\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e28.\u003cspan\u003e \u003c\/span\u003eRent, rates, taxes, repairs and insurance\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e29.\u003cspan\u003e \u003c\/span\u003eDeductions related to employee welfare\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e30.\u003cspan\u003e \u003c\/span\u003eDeduction on certain premium\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e31.\u003cspan\u003e \u003c\/span\u003eDeduction for bad debt and provision for bad and doubtful debt\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e32.\u003cspan\u003e \u003c\/span\u003eOther deductions\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e33.\u003cspan\u003e \u003c\/span\u003eDeduction for depreciation\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e34.\u003cspan\u003e \u003c\/span\u003eGeneral conditions for allowable deductions\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e35.\u003cspan\u003e \u003c\/span\u003eAmounts not deductible in certain circumstances\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e36.\u003cspan\u003e \u003c\/span\u003eExpenses or payments not deductible in certain circumstances\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e37.\u003cspan\u003e \u003c\/span\u003eCertain deductions allowed on actual payment basis only\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e38.\u003cspan\u003e \u003c\/span\u003eCertain sums deemed as profits and gains of business or profession\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e39.\u003cspan\u003e \u003c\/span\u003eComputation of actual cost\u003cspan\u003e \u003c\/span\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e40.\u003cspan\u003e \u003c\/span\u003eSpecial provision for computation of cost of acquisition of certain assets\u003c\/div\u003e","brand":"Legal Matrix Publications","offers":[{"title":"Default Title","offer_id":48757735391451,"sku":null,"price":2026.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0818\/9109\/8843\/files\/4ba75394-4fbd-494d-871a-be36e11860d2.webp?v=1778305508","url":"https:\/\/legalmatrixpublications.com\/products\/income-tax-act-2026","provider":"Legal Matrix Publications","version":"1.0","type":"link"}