Section 154 Income Tax Act 2025 Deduction in case of a person with disability. 81 154. 82 (1) An individual, being resident in India, who is certified by a medical authority, at any time during the tax year, as a person with disability or person with severe disability, shall be allowed a deduction of ₹ 75000 or ₹… Read More »
RULE 30 INCOME-TAX RULES 2026 RULE 30 INCOME-TAX RULES 2026 Prescribed authority and process of approval for expenditure on scientific research under section 45(3)(c). 30. (1) For the purposes of section 45(3)(c)(i) to (iii), the head of the National Laboratory or the University or the Indian Institute of Technology, as the case may be, shall be… Read More »
RULE 29 INCOME-TAX RULES 2026 RULE 29 INCOME-TAX RULES 2026 Prescribed authority and process of approval for expenditure on scientific research under section 45(1)(a)(ii) and (2). 29. (1) For the purposes of clause (b) read with clause (a)(ii) of section 45(1), the prescribed authority shall be Principal Chief Commissioner of Income-tax (Exemptions) in concurrence with the… Read More »
RULE 28 INCOME-TAX RULES 2026 Form of audit report for claiming deduction for certain preliminary expenses under section 44 and expenditure for prospecting certain minerals under section 51. 28. The report of audit of the accounts of an assessee, other than a company or a co-operative society, under section 44(6) or section 51(7), shall be furnished… Read More »
Section 141 Income Tax Act 2025 Deduction in respect of profits and gains from certain industrial undertakings. 141. In respect of any tax year, where— (a) the gross total income of an assessee, includes any profits and gains derived from 49 any business referred to in section 80-IB of the Income-tax Act, 1961 (43 of 1961); and (b) such… Read More »
RULE 27 INCOME-TAX RULES 2026 Form of statement to be furnished regarding certain preliminary expenses eligible for deduction under section 44. 27. (1) The statement containing particulars of expenditure required to be furnished under section 44(3) shall be in Form No. 5 for each tax year. (2) Form No. 5 shall be furnished to the Director… Read More »
Section 155 Income Tax Act 2025 CHAPTER IX Rebates and reliefs A.-Rebates and reliefs Rebate to be allowed in computing income-tax. 83 155. (1) In computing income-tax on the total income of an assessee with which he is chargeable for any tax year, there shall be allowed from income-tax (as computed before allowing the deductions under this… Read More »
Section 156 Income Tax Act 2025 Rebate of income-tax in case of certain individuals. 84 156. (1) An assessee, being an individual resident in India, shall be entitled to a deduction of 100% of income-tax payable or ₹ 12500, whichever is less, from the income-tax (computed before allowing the deduction under this section) chargeable on the total… Read More »
RULE 26 INCOME-TAX RULES 2026 RULE 26 INCOME-TAX RULES 2026 Cases and circumstances in which a payment or aggregate of payments exceeding ten thousand rupees may be made to a person in a day, otherwise than by specified banking and online mode or through such other electronic mode as provided in rule 48 26. (1) No… Read More »
Section 140 Income Tax Act 2025 Special provision in respect of specified business. 140. (1) Where the gross total income of an assessee, being an eligible start-up, includes any profits and gains derived from eligible business, there shall, as per and subject to the provisions of this section, be allowed, in computing the total income… Read More »