Transfer of income where there is no transfer of assets All income arising to any person by virtue of a transfer whether revocable or not and whether effected before or after the commencement of this Act shall, where there is no transfer of the assets from which the income arises, be chargeable to income-tax as […]

Profits chargeable to tax (1) The provisions of sub-section (1) of section 41 shall apply, so far as may be, in computing the income of an assessee under section 56, as they apply in computing the income of an assessee under the head “Profits and gains of business or profession”. (2) [***] (3) [***]

Amounts not deductible (1) Notwithstanding anything to the contrary contained in section 57, the following amounts shall not be deductible in computing the income chargeable under the head “Income from other sources”, namely :—  (a) in the case of any assessee,—    (i) any personal expenses of the assessee;  (ia) any expenditure of the nature referred

Deductions The income chargeable under the head “Income from other sources” shall be computed after making the following deductions, namely :—  (i) in the case of dividends, or interest on securities, any reasonable sum paid by way of commission or remuneration to a banker or any other person for the purpose of realising such dividend

Income from other sources (1) Income of every kind which is not to be excluded from the total income under this Act shall be chargeable to income-tax under the head “Income from other sources”, if it is not chargeable to income-tax under any of the heads specified in section 14, items A to E. (2) In particular, and without

Reference to Valuation Officer With a view to ascertaining the fair market value of a capital asset for the purposes of this Chapter, the Assessing Officer may refer the valuation of capital asset to a Valuation Officer—  (a) in a case where the value of the asset as claimed by the assessee is in accordance

Meaning of “adjusted”, “cost of improvement” and “cost of acquisition (1) For the purposes of sections 48 and 49,—  (a) [***]  (b) “cost of any improvement”,—   (1) in relation to a capital asset being goodwill 19-20[or any other intangible asset] of a business or a right to manufacture, produce or process any article or thing or right to carry

Extension of time for acquiring new asset or depositing or investing amount of capital gain Notwithstanding anything contained in sections 54, 54B, 54D, 54EC and 54F, where the transfer of the original asset is by way of compulsory acquisition under any law and the amount of compensation awarded for such acquisition is not received by the assessee on the date of

Proof of entries in records or documents Entries in the records or other documents in the custody of an income-tax authority shall be admitted in evidence in any proceedings for the prosecution of any person for an offence under this Chapter, and all such entries may be proved either by the production of the records

Certain offences to be non-cognizable Notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974), an offence punishable under section 276B or section 276C or section 276CC or section 277 or section 278 shall be deemed to be non-cognizable within the meaning of that Code.