Section 13 Income Tax Act 2025 CHAPTER IV Computation of total income A.-Heads of income Heads of income. 13.Save as otherwise provided in this Act, all incomes shall, for the purposes of charge of income-tax and computation of total income, be classified under the following heads of income:— (a) Salaries; (b) Income from house property;… Read More »
Section 12 Income Tax Act 2025 B.-Incomes not to be included in total income of political parties and electoral trusts Incomes not included in total income of political parties and electoral trusts. 12.(1) In computing the total income of any political party or an electoral trust for a tax year under this Act, any income… Read More »
Section 11 Income Tax Act 2025 CHAPTER III INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME A.-Incomes not to be included in total income Incomes not included in total income. 11. (1) In computing the total income of any person for a tax year under this Act, any income enumerated in Schedules II, III,… Read More »
Section 10 Income Tax Act 2025 Apportionment of income between spouses governed by Portuguese Civil Code. 10.If a husband and wife are governed by the community of property system (known as “COMMUNIAO DOS BENS” under the Portuguese Civil Code of 1860) in force in the State of Goa and the Union Territories of Dadra and… Read More »
Section 9 Income Tax Act 2025 Income deemed to accrue or arise in India. 9.(1) The income referred to in sub-sections (2) to (8) shall be deemedto accrue or arise in India. (2) The income accruing or arising, directly or indirectly, through or from— (a) any asset or source of income in India; or (b)… Read More »
Section 8 Income Tax Act 2025 Income on receipt of capital asset or stock-in-trade by specified person from specified entity. 8. (1) Where a specified person receives during the tax year any capital asset or stock-in-trade, or both, from a specified entity in connection with the dissolution or reconstitution of such specified entity, then the… Read More »
Section 7 Income Tax Act 2025 Income deemed to be received and dividend deemed to be income in a tax year. 7. (1) The following incomes shall be deemed to be received in the tax year:— (a) the annual accretion in that year to the balance at the credit of an employee participating in a… Read More »
Section 6 Income Tax Act 2025 Residence in India. 6.(1) For the purposes of this Act, residential status in India in a tax year of a person shall be determined as per the provisions of this section. (2) An individual shall be resident in India in a tax year, if he— (a) is in India… Read More »
Section 5 Income Tax Act 2025 Scope of total income. 5. (1) Subject to the provisions of this Act, the total income of any tax year of a person, who is a resident, includes all income from whatever source derived, which— (a) is received or deemed to be received in India in that year by or on behalf… Read More »
Section 4 Income Tax Act 2025 CHAPTER II BASIS OF CHARGE Charge of Income-tax. 4.(1) Where any Central Act enacts that income-tax shall be charged for any tax year at any rate or rates, income-tax for such tax year shall be charged at that rate or those rates in accordance with and subject to the… Read More »