Daily Archives: April 1, 2026

RULE 64 INCOME-TAX RULES 2026 Procedure for specifying an association or institution for purposes of notification under section 133(1)(a)(xxiv). 64. (1) In specifying an association or institution for notification under section 133(1)(a)(xxiv), the Central Government shall satisfy itself that such association or institution — (a) has as its object the control, supervision, regulation or encouragement in… Read More »

RULE 63 INCOME-TAX RULES 2026 RULE 63 INCOME-TAX RULES 2026 Prescribed authority for approval of a University or any educational institution of national eminence for purposes of section 133. 63. (1) For the purpose of section 133(1)(a)(vii), the prescribed authority for granting of approval shall be the Principal Chief Commissioner of Income- tax (Exemptions). (2) The… Read More »

RULE 62 INCOME-TAX RULES 2026 RULE 62 INCOME-TAX RULES 2026 Issuance of prescription in respect of certain diseases and ailments for the purpose of deduction under section 128. 62. (1) For the purposes of claiming deduction under section 128, the prescription for medical treatment in respect of eligible diseases or ailments mentioned in column B of… Read More »

RULE 61 INCOME-TAX RULES 2026 RULE 61 INCOME-TAX RULES 2026 Certificate of a medical authority in respect of autism, cerebral palsy and multiple disabilities for the purposes of deduction under section 127 and section 154. 61. (1) For the purposes of sections 127(9)(e) and 154(3), the medical authority responsible for certifying “autism”, “cerebral palsy”, “multiple disabilities”,… Read More »

RULE 60 INCOME-TAX RULES 2026 RULE 60 INCOME-TAX RULES 2026 Conditions for carrying forward or set-off of accumulated loss and unabsorbed depreciation allowance in case of amalgamation. 60. (1) The conditions referred to in section 116(4)(b)(iii) shall be the following:— (a) the amalgamated company, owning an industrial undertaking of the amalgamating company by way of amalgamation,… Read More »

RULE 59 INCOME-TAX RULES 2026 RULE 59 INCOME-TAX RULES 2026 Computation of income chargeable to tax under section 92(2)(l) 59. (1) For the purposes of section 92(2)(l), if a person receives any sum, including the amount allocated by way of bonus, during a tax year under a life insurance policy, then the income chargeable to tax… Read More »

RULE 58 INCOME-TAX RULES 2026 RULE 58 INCOME-TAX RULES 2026 Prescribed class of persons for the purpose of section 92(3)(i) and section 79. 58. (1) The provisions of section 92(2)(m) shall not apply to class of persons referred to in column B of the following Table, where such persons receive assets in the nature referred to… Read More »

RULE 57 INCOME-TAX RULES 2026 RULE 57 INCOME-TAX RULES 2026 Determination of fair market value. 57. For the purpose of following sections referred to in column B of the Table below, the fair market value of the property of the nature referred to column C shall be determined in the manner provided in column D thereof… Read More »

RULE 56 INCOME-TAX RULES 2026 RULE 56 INCOME-TAX RULES 2026 Meaning of expressions used in determination of fair market value. 56. For the purposes of this rule and rule 57,— (a) “balance sheet”, in relation to any company, means,— (i) in relation to an Indian company, the balance sheet of such company (including the notes annexed… Read More »

RULE 55 INCOME-TAX RULES 2026 Conditions for reference to Valuation Officers under section 91(1)(b). 55. For the purposes of section 91(1)(b)(i),— (a) the percentage of the value of the asset shall be 15%; and (b) the amount shall be ten lakh rupees. ******************************** Read more Income Tax Act 2025 INCOME TAX RULES 2026   for more… Read More »