(1) The provisions of sections 26 to 54, to the extent contrary to this section, shall not apply to the specified business mentioned in column B of the Table in sub-section (2).(2) The profits and gains of any specified business as mentioned in column B of the Table below, carried on by a specified assessee […]

.(1) (a) Any person carrying on specified profession; or(b) any person carrying on, business; or any profession [not being a profession referred to in clause (a)] and satisfying the conditions referred to in sub-section (2); or(c) any other person carrying on profession notified by the Board in this behalf, shall keep and maintain such books

(1) Every person, carrying on the business or profession fulfilling the conditions specified in column B of the Table below, shall get his accounts of the tax year audited by an accountant, before the specified date. Sl. No. Conditions for getting books of account audited A B 1 Where the total sales, turnover or gross

(1) The deduction under section 33 or 44 or 52(1) (Table: Sl. No. 1 or 2) shall, in a case where business reorganisation of a co-operative bank has taken place during the tax year, be allowed as per provisions of this section.(2) The amount of deduction allowable to the predecessor co-operative bank or to the

In sections 26 to 66,—(1) “agreement”, for the purposes of section 26(2)(h), includes any arrangement or understanding or action in concert,—(A) whether or not such arrangement, understanding or action is formal or in writing; or(B) whether or not such arrangement, understanding or action is intended to be enforceable by legal proceedings;(2) “banking company” means a

(1) Any profits or gains arising from the transfer of a capital asset effected in a tax year shall, save as otherwise provided in sections 82, 83, 84, 86, 87, 88 and 89, be chargeable to income-tax under the head “Capital gains” and shall be deemed to be the income of the tax year in

(1) Irrespective of anything contained in section 67, where the assets of a company are distributed to its shareholders on its liquidation, such distribution shall not be regarded as a transfer by the company for the purposes of the said section.(2) If a shareholder, on the liquidation of a company, receives any money or other

(1) If a shareholder or a holder of other specified securities receives any consideration from any company for the purchase of its own shares or other specified securities held by such shareholder or holder of other specified securities, then, subject to the provisions of section 72, the difference between the cost of acquisition and the

(1) The provisions of section 67 shall not apply to transfer—(a) of distribution of capital assets on the total or partial partition of a Hindu undivided family;(b) of a capital asset by an individual or a Hindu undivided family, under a will or a gift or an irrevocable trust;(c) of a capital asset, not being

(1) The profits or gains arising from the transfer of capital asset not charged under section 67 by virtue of section 70(1)(c) and (d) shall, irrespective of anything contained in the said clauses, be deemed to be income chargeable under the head “Capital gains” of the tax year in which such transfer took place, if