|1. Income under the Head 'Salary' [ Section 15-17 ]
2. Income from 'House Property'
3. Income from 'Business or Profession'
1.Definition Of Head Business or Profession [Section 28]
2. Compensation Received as Business Income [Section 28(ii)]
3. Income of a Trade or Professional Association [Section 28(iii)]
4. Income from Export Incentives is chargeable to Income Tax
5. Any Amount Received Under certain Agreement for not to Carry on Business [Section 28(va)]
6. Speculation Business [Explanation to Section 28]
7. Profit Earned from an Illegal Business
8. Transfer of certain Assets Specified u/s 35AD in certain circumstances [Section 28(vii)]
8-A. Certain Incomes relating to business but not taxable under the head ‘Profits Gains of Business or Profession .
9. Computation of Income of Business or Profession - General Important Points
10. General Principles - for Deductions Allowed from Gross Income of Business and Professions
11. Deductions from Gross Income of Business or Profession [ Section 30 to 44DB]
12. Expressly Admissible Deductions from Gross Income from Business or Profession [Section 30-36]
13. Expenditure Incurred in the Field of Scientific Research [Section 35]
14. Expenses on Research Activities carried on by the assessee himself
15. Contribution to Approved Institutions to carry on Research is Allowed as Weighted Deductions for Calculating Profits and Gains of Business or Professions.
17. Expenditure incurred on the acquisition of Patents Rights or Copy Rights [Section 35A] [Applicable for expenditure incurred before 1-4-1998]
18. Expenditure on know-how [Section 35 AB] [Applicable for expenditure incurred before 1-4-1998]
19. Expenditure for obtaining License to operate Telecommunication Services [Section 35 ABB]
20. Expenditure on eligible projects or schemes [Section 35 AC]
21. Deduction in respect of expenditure incurred on setting up of a Specified Business [Sec. 35AD]
22. Any amount given to an institution or association [Section-35CCA]
23. Expenditure on Notified Agricultural Extension Project [Section-35 CCC] [w.e.f. A.Y. 2013-14]
24. Expenditure on Notified Skill development project [Section-35 CCD] [w.e.f. A.Y. 2013-14]
25. Amortisation of Certain Preliminary Expenses [Section 35D]
26. Expenditure on demerger or amalgamation [Section 35DD]
27. Amortisation of Expenditure Incurred Under Voluntary Retirement Scheme [Section 35DDA]
28. Expenditure on Prospecting etc., for certain Minerals [Section 35E]
29. Other Deductions Allowed to Compute Income from Business or Profession [Section-36]
30. Interest on Borrowed Capital [Sec. 36(1)(iii)].
31. Deduction of discount on Zero Coupon Bond [Section 36(iiia)]
32. Contribution to Provident and Superannuation Fund [Sec. 36(1)(iv)].
34. Employee’s contribution towards staff welfare schemes [Sec. 36(1)(va)]
35. Bad debts [Sec. 36(1)(vii)]
36. Bad debts of Banks, financial institution and industrial investment corporation etc. [Section 36(1)(viia)]
37. Special Reserve Created and Maintained by Financial Corporation [Section 36(1)(viii)].
38. Expenditure on Family Planning [Section-36(1)(ix)].
39. General Or Allowable Deductions [Section 37]
41. Commission earned by the agents of Life Insurance Corporation, Unit Trust of India, Post Office or Mutual Funds
42. Legal Expenses in the Interest of Business are Allowable Expenses
43. Losses incidental to Business Allowed to be Debited.
44. Expenses Expressly Disallowed In the Case of any ‘Assessee’ [ Section-40a]
45. Expenses Expressly Disallowed In the Case of any Firm [Section 40(b)]
46. Expenses Expressly Disallowed In General Cases [Section 40(b)]
47. Disallowing of certain Expenses under certain circumstances like ‘Payments to Relatives’
48.Payments exceeding ` 20,000 by cash/bearer cheque [Section 40A (3)].
48-A. Provision for the Payment of Gratuity – [Section-40A(7)]
49. DEEMED PROFITS Under Profits and Gains of Business or Professions [Section 41]
50. VALUATION OF STOCK for Profit and Gains of Business or Professions
51. Deduction Of Certain Payments Only If Actually Paid [Section 43B]
52. Maintenance Of Accounts By Certain Persons Carrying On Profession Or Business. [Sec. 44AA]
53. Compulsory Audit For The Non-Corporate Assessees [Section-44 AB]
54. Computation of Income on Estimated Basis [Section 44AD]
55. Profit from the business of carriage of goods for truck owners [Section 44 AE]
56. Special provision for computation of income from royalties in case of nonresidents [Section 44DA]
57. Partly Agricultural and Partly Business Income
58. Adjustment In The Profit And Loss A/C Prepared By The Assessee
60. Computation of Profits and Gains of a Non-Resident from Shipping Business— [Section 44B]
61. Computation of Profits and Gains of business of Oil Exploration [Section 44BB]
62. Computation of Profits and Gains of the Business of operation of Aircrafts by Non-Resident [Section 44 BBA]
63. Computation of Profits of Foreign Enterprises [Section 44BBB]
64. Ceiling Limits in respect of Head Office Expenses [Section 440]
67. Special Provisions in case of Income of Public Financial Institutions etc. [Section 43D]
4. Income from 'Capital Gain'
5. Income from 'Other Sources'
6. 'Clubbing of Income' - Aggregation of Income
7. 'Set Off and Carry Forward of Losses'
8. 'Deductions' from Gross Total Income
- Deduction in respect of Life Insurance Premia, Deferred Annuity, Contribution to PF, etc. [ Sec. 80 C ]
- Deduction in respect of Contribution to certain Pension Funds [Sec.80CCC]
- Deduction in respect of Contribution to Pension Scheme of Central Government or any other Employers [ Sec. 80 CCD]
- Deduction in respect of Health or Medical Insurance Premia [ Sec.80D]
- Deduction in respect of Maintenance Including Medical Treatment of a Dependent who is a person with Disability [ Sec. 80 DD ]
- Deduction in respect of Medical Treatment , etc. [ Sec. 80 DDB ]
- Deduction in respect of Interest of Loan taken for Higher Education [Sec.80 E ]
- Deduction in respect of Donations to certain Funds, Charitable Institutions , etc. [ Sec. 80 G ]
- Deduction in respect of Rents Paid [ Sec. 80 GG