Profit and Gains of Business or Profession

Chapters / List

1. Chargeability - Section 28

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2. Computation of income from PGBP - Section 29

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3. Method of Accounting - Section 145

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4. Method of Accounting in Certain Cases - Section 145A

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5. Rent, Rates, & Taxes of Building - Section 30

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6. Repairs, Rent & Insurance of Furniture and Plant & Machinery - Section 31

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7. Depreciation - Section 32

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8. Rates of Depreciation

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9. Depreciation for Power Generating Undertakings - Section 32(1)(i)

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10. Additional Depreciation - Section 32(1)(iia)

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11. Setoff and carry forward of unabsorbed Depreciation - Section 32(2)

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12. Investment Allowance - Section 32AC

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13. Investment Allowance in Notified Backward Area - Section 32AD

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14. Deduction for Tea, Coffee, Rubber Business - Section 33AB

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15. Site Restoration Fund (Deduction for Petroleum & Natural Gas Business) - Section 33ABA

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16. Expenditure on Scientific Research - Section 35

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17. Expenditure for obtaining Licence to operate Telecommunication Services - Section 35ABB

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18. Amortization of spectrum fee for purchase of spectrum - Section 35ABA

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19. Expenditure on Eligible Projects or Scheme - Section 35AC (Upto AY 2017-18)

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20. Deduction in respect of expenditure on Specified Business - Section 35AD

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21. Payment to Associations and Institutions for carrying out Rural Development Programmes - Section 35CCA

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22. Expenditure on Agricultural Extension Project - Section 35CCC

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23. Expenditure on Skill Development Project - Section 35CCD

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24. Amortisation of certain Preliminary Expenses - Section 35D

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25. Amortisation of Amalgamation or Demerger expenses - Section 35DD

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26. Amortisation of expenditure incurred under Voluntary Retirement scheme - Section 35DDA

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27. Amortisation of expenditure for development of Certain Minerals - Section 35E

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28. Premium for insurance of stock-in-trade - Section 36(1)(i)

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29. Premium paid by a federal milk society on life of cattle - Section 36(1)(ia)

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30. Premium for insurance on health of employees - Section 36(1)(ib)

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31. Bonus or commission paid to employees - Section 36(1)(ii)

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32. Interest on borrowed capital - Section 36(1)(iii)

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33. Discount on Zero Coupon Bond - Section 36(1)(iiia)

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34. Employer's Contribution to PF & Superannuation - Section 36(1)(iv)

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35. Employer's Contribution towards Pension Scheme - Section 36(1)(iva)

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36. Employer's Contribution towards Gratuity Fund - Section 36(1)(v)

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37. Employee's Contribution to Welfare Fund - Section 36(1)(va)

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38. Animals used in Business otherwise than as Stock-in-Trade - Section 36(1)(vi)

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39. Bad debts - Section 36(1)(vii)

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40. Provision for Bad and doubtful debts in case of Banks - Section 36(1)(viia)

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41. Section 36(1)(viii) - Transfer to Special Reserve

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42. Section 36(1)(ix) - Expenditure on promotion of family planning

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43. Section 36(1)(xii)-Expenditure incurred by a corporation or body corporate for the objects and purposes authorised

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44. Section 36(1)(xiv)- Contribution to Credit Guarantee Trust Fund

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45. Section 36(1)(xv) - Securities Transaction Tax

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46. Section 36(1)(xvi) - Commodities Transaction Tax

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47. Section 36(1)(xvii) - Expenditure by Co-operative Society for purchase of sugarcane at a specified price

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48. Section 36(1)(xviii) - Expenditure on marked to market loss or other expected loss

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49. Section 37(1) - General clause of Deductions

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50. Section 37(2B) - Payment made to Political Party

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51. Section 40(a)(i) - Non-compliance of provisions of TDS where payment is made to Non-Resident

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52. Section 40(a)(ia) - Non-compliance of provisions of TDS where payment is made to Resident

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53. Section 40(a)(ib) - Disallowance for non-payment of equalisation levy

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54. Section 40(a)(ii)- Income Tax

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55. Section 40(a)(iia) - Wealth Tax

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56. Section 40(a)(iib) - Certain fee etc. paid to a State Govt. Undertaking to the State Govt.

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57. Section 40(a)(iii) - Salary payable outside India without Tax deduction

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58. Section 40(a)(iv) - Provident Fund payment without Tax deduction at Source

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59. Section 40(a)(v) - Tax on perquisite paid by the employer

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60. Section 40(b) - Payment of interest, salary etc. made by firm to its partners

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61. Section 40(ba) - Payment of interest, salary etc. made by AOP to its members

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62. Section 40A(2) - Payment to specified persons not deductible under certain circumstances

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63. Section 40A(3) & 40A(3A) - Payment made otherwise than by account payee cheque

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64. Section 40A(7) - Provision for payment of Gratuity

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65. Section 40A(9) - Contribution to non-statutory funds

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66. Section 40A(13) - marked to market loss or other expected loss

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67. Section 41(1) - Recovery of expenditure & Remission and cessation of trading liability

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68. Section 41(2) - Balancing Charge

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69. Section 41(3) - Sale of Assets used for Scientific Research

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70. Section 41(4) - Recovery of Bad debts

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71. Section 41(4A) - Amount withdrawn from special reserve

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72. Section 41(5) - Adjustment of Loss

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73. Section 42: Special Provision for deduction in case of business for prospecting etc. for mineral oil

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74. Section 43(1) - "Actual Cost", Section 43(2) - "Paid", Section 43(3) - "Plant"

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75. Section 43(4)- Meaning of term "Scientific Research"

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76. Section 43(5) - Meaning of term "Speculative Transaction"

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77. Section 43(6) - WDV of block of Asset

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78. Section 43A - Special provision consequential to changes in rate of exchange

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79. Section 43AA - Taxation of foreign exchange fluctuation

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80. Section 43B - Certain deductions on actual payment basis

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81. Section 43CA - Special provision for full value of consideration for transfer of assets other than capital assets in certain cases

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82. Section 43CB - Computation of income from construction and service contracts

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83. Section 43D - Special Provision in case of income of public financial institutions

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84. Section 44 - Insurance Business

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85. Section 44A - Special provision for deduction in the case of Trade professional or similar association

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86. Section 44AA - Maintenance of accounts by persons carrying on business or profession

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87. Section 44ADA- Provisions for computing profits and gains of profession on presumptive basis

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88. Section 44AB - Audit of accounts of certain persons [Tax Audit]

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89. Section 44AD - Special provisions for computing profits and gains of business on presumptive basis

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90. Section 14A & Rule 8D - Expenditure in relation to income not includible in total income

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91. Section 44AE - Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages

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92. Section 44B & 172 - Special provision for computing profits and gains of shipping business in case of non-residents

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93. Section 44BB - Special provision for computing profits and gains in connection with the business of exploration etc. of mineral oils

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94. Section 44BBA - Special provision for computing profits and gains of the business of operation of aircraft in the case of non-resident

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95. Section 44BBB - Special provision for computing profits and gains of foreign companies engaged in the business of civil construction

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96. Section 44C - Deduction of head office expenditure in the case of non residents

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97. Section 44DA - Special provision for computing income by way of royalties etc. in case of Non-residents and Foreign Companies

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98. Section 44DB - Special provision for computing deductions in the case of business reorganisation of Co-operative banks

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99. Deduction in respect of expenditure on production of feature in case of a films producer/distributer - Rule 9A

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100. Deduction in respect of expenditure of distribution rights of feature films - Rule 9B

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