Section 110 Income Tax Act 2025 Carry forward and set off of loss from house property. 80 110. (1) Where for any tax year, loss computed under the head “Income fromhouse property” cannot be wholly set off against the income under any other head as per section 109, so much of the loss not so set off or… Read More »
Section 108 Income Tax Act 2025 CHAPTER VII SET OFF, OR CARRY FORWARD AND SET OFF OF LOSSES Set off of losses under same head of income. 108. (1) Unless provided otherwise in this Act, for any tax year, if net result of computation from any source under any head of income (other than “Capital gains”)… Read More »
Section 109 Income Tax Act 2025 Set off of losses under any other head of income. 109. (1) Subject to the provisions of this Chapter, for any tax year, if income computed under any head of income (other than “Capital gains”) is a loss, such loss shall be set off against income of the assessee under… Read More »
Section 279 Income Tax Act 2025 Income escaping assessment. 279. (1) If, in the case of an assessee, any income chargeable to tax has escaped assessment for any tax year (herein and in sections 280 to 286 referred to as the relevant tax year), the Assessing Officer may, subject to the provisions of sections 280 to 286, assess or reassess such income… Read More »
Section 107 Income Tax Act 2025 Approval of Inspecting Assistant Commissioner for orders under section 104. 107. [Omitted by the Finance Act, 1987, w.e.f. 1-4-1988.]
INCOME TAX CALCUALTOR NEW REGIME FY 2025-26 / AY 2026-27 INCOME TAX CALCUALTOR NEW REGIME For FY 2025-26 (AY 2026-27), the new tax regime serves as the default option with a basic exemption limit of ₹4 lakh. OFFICIAL INCOME TAX CALCUALTOR NEW REGIME FY 2025-26 / AY 2026-27 You can use the official Income Tax… Read More »
Section 98 Income Tax Act 2025 “Transfer” and “revocable transfer” defined. 98. For the purposes of sections 96 and 97, and this section,— (a) “transfer” includes any settlement, trust, covenant, agreement or arrangement; (b) a transfer shall be deemed to be revocable, if— (i) it contains any provision for the direct or indirect re-transfer of the whole or any part of… Read More »
Section 93 Income Tax Act 2025 Deductions. 93. (1) The income chargeable under the head “Income from other sources” shall be computed after making the following deductions:— (a) for dividends [excluding those referred to in section 2(40)(f)] or interest on securities, any reasonable sum paid as commission or remuneration to a banker or any other person… Read More »
Section 106 Income Tax Act 2025 Amount borrowed or repaid through negotiable instrument, hundi, etc. 106. (1) Where any amount (including interest thereof) is borrowed or repaid through a negotiable instrument or on a hundi, otherwise than an account payee cheque, or through any mode as specified by the Board in this behalf, the amount so borrowed… Read More »
Section 104 Income Tax Act 2025 Unexplained asset. 104.(1) Where in any tax year, any asset has been found to be owned by or belonging to the assessee which is not recorded in the books of account, if any, maintained by such assessee for any source of income, or the Assessing Officer finds that the… Read More »