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[ Sec. 58 ] : Amounts Expressly Disallowed from 'Income from Other Sources'


The following expenses are not allowed to be deducted form such income :

1. Personal Expenses :           Any persona expenses of the assessee is not deductible.

2. Interest :     Any Interest chargeable under this Act which is payable outside India on which tax has not been paid or deducted at source.

3.  Salary :       Any payment chargeable under head “Salaries” and payable outside India not deductible if tax has not been paid or deducted therefrom.

4.  Wealth Tax :          Any sum paid on account of Wealth tax is not deductible.

  1. Expenditure in respect of Royalty and Technical Fees received by a foreign company :           
  1. Expenditure in respect of winning from Lotteries etc. :           In case an assess has income from lotteries, crossword puzzles, races including horse races, card games and other games of any sort or from gambling or betting of any form or nature whatsoever, such assessee shall not be allowed any deduction in respect of any expenditure or allowance in connection with such incomes.
Amounts Disallowed from 'Income from Other Sources' [Sec.58]
Basis of Charge-Income from Other Sourecs [Sec.56] : [Computation of Gross Total Income]
[Sec.57] : Deductions from 'Income from Other Sources'
Income from Other Sources : [Computation of Gross Total Income]
Income From Other Sources – in Nutshell
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