CHAPTER IV COMPUTATION OF TOTAL INCOME D.—Profits and gains of business or profession Clause 27 of Income Tax Bill 2025 Manner of computing profits and gains of business or profession. 27 (1)The income referred to in section 26 shall be computed as per the provisions of sections 28 to 60, except section 58.    

THE INCOME-TAX BILL 2025 CHAPTER IV COMPUTATION OF TOTAL INCOME CLAUSE 20  Income from house property CLAUSE 21   Determination of annual value. Clause 22 Deductions from income from house property CLAUSE 23 Arrears of rent and unrealised  rent received subsequently. CLAUSE 24 Property owned by co-owners CLAUSES 25 Interpretation D.— Profits and gains of business… Read More »

CHAPTER IV COMPUTATION OF TOTAL INCOME D.— Profits and gains of business or profession Clause  29  Income Tax Bill 2025 Deductions related to employee welfare 29(1) The following sums, when paid by the assessee as an employer, shall  be allowed as deduction in computing income chargeable under section 26:–– (a) any contribution paid to a… Read More »

CHAPTER IV COMPUTATION OF TOTAL INCOME D.— Profits and gains of business or profession Clause  26  Income Tax Bill 2025 Income under head “Profits And gains of business or profession”. 26. (1) The income from any business or profession carried on by the assessee at any time during the tax year shall be chargeable to income-tax… Read More »