RULE 24 INCOME-TAX RULES 2026 Notification of infrastructure facility for the purposes of section 32(e). 24. The following conditions shall be fulfilled by a public facility to be eligible to be notified as an infrastructure facility under section 32(e):— (a) it is owned by a company registered in India or by a consortium of such companies… Read More »
RULE 23 INCOME-TAX RULES 2026 Computation of pro rata amount of discount on a zero coupon bond for purpose of section 32(d). 23. (1) For the purposes of section 32(d), the pro rata amount of discount on a zero coupon bond shall be computed in the following manner:— (a) the period of life of the bond shall be converted into… Read More »
RULE 22 INCOME-TAX RULES 2026 Computation of aggregate average advances for purposes of section 31(1) [Table: Sl. No. 1] for deduction for provision of bad and doubtful debt. 22. (1) For the purposes of section 31(1) [Table: Sl. No. 1], the aggregate average advances made by the rural branches of a scheduled bank shall be determined… Read More »
Section 157 Income Tax Act 2025 Relief when salary, etc., is paid in arrears or in advance. 85 157. 86 (1) Where the total income of an assessee is assessed at a rate higher than the rate at which it would otherwise have been assessed, due to the following receipts,— (a) a sum in the nature of arrear… Read More »
RULE 21 INCOME-TAX RULES 2026 Unrealised rent. 21. For the purposes of section 21(4), the amount of rent which the owner cannot realise shall be equal to the amount of rent receivable by the assessee but not paid by a tenant of the assessee and so proved to be lost and irrecoverable where, — (a) the… Read More »
Section 139AA Income Tax Act 2025 Quoting of Aadhaar number. 139AA. (1) Every person who is eligible to obtain Aadhaar number shall, on or after the 1st day of July, 2017, quote Aadhaar number- (i) in the application form for allotment of permanent account number; (ii) in the return of income: Provided that where the person does… Read More »
Section 158 Income Tax Act 2025 Relief from taxation in income from retirement benefit account maintained in a notified country. 158. (1) The income accrued to a specified person in a specified account shall be taxed in such manner and in such tax year, as may be prescribed. (2) For the purposes of this section,—… Read More »
Section 139 Income Tax Act 2025 Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone. 139. In respect of any tax year, where— (a) the gross total income of an assessee, being a Developer, includes any profits and gains derived by an undertaking or an enterprise… Read More »
RULE 20 INCOME-TAX RULES 2026 RULE 20 INCOME-TAX RULES 2026 Procedure for purposes of section 19 [Table: Sl. No. 12] relating to voluntary retirement or voluntary separation. 20. (1) Subject to the conditions specified in sub-rules (2) and (3), the amount received at the time of voluntary retirement or voluntary separation can be claimed as deduction… Read More »
Section 138 Income Tax Act 2025 Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc. 138. In respect of any tax year, where— (a) the gross total income of an assessee includes any profits and gains derived by an undertaking or an enterprise from any business referred to… Read More »