Section 19 Income Tax Act 2025 Deductions from salaries. 19. (1) The income chargeable under the head “Salaries” shall be computed after making the deductions in respect of sums of the nature mentioned in column B of the following Table, not exceeding the amount as mentioned in column C thereof:— TABLE Sl. No. Nature of… Read More »
Section 18 Income Tax Act 2025 Profits in lieu of salary. 18. (1) For the purposes of this Part, “profits in lieu of salary”includes,— (a) the amount of any compensationdue to, or received by, an assessee from his employer or former employer at or in connection with the— (i) termination of his employment; or (ii) modification of… Read More »
Section 17 Income Tax Act 2025 Perquisite. 17. (1) For the purposes of this Part, “perquisite” includes— (a) the value of rent-free accommodation provided to the assessee by his employer computed in such manner as may be prescribed; (b) the value of any accommodation, computed in such manner as may be prescribed, provided to the assessee… Read More »
Section 16 Income Tax Act 2025 Income from salary. 16. For the purposes of this Part, “salary”includes— (a) wages; (b) any annuity or pension; (c) any gratuity; (d) any fees or commission; (e) perquisites; (f) profits in lieu of, or in addition to, any salary or wages; (g) any advance of salary; (h) any payment received by an… Read More »
Section 15 Income Tax Act 2025 B.-Salaries Salaries. 15. (1) The following incomeshall be chargeable to income-tax under the head “Salaries”:— (a) any salary duefrom an employer to an assessee in the tax year, whether paidor not; (b) any salary paidor allowedto him in the tax year by or on behalf of an employer though… Read More »
Section 14 Income Tax Act 2025 Income not forming part of total income and expenditure in relation to such income. 14. (1) Irrespective of anything to the contrary contained in this Act, for the purposes of computing the total income under this Chapter, no deduction shall be allowed in respect of expenditure incurred by the assessee… Read More »
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 »