Clause 62 - Aggregation of income from special sources. - Direct Taxes Code, 2010

Aggregation of income from special sources. 62. (1) The income from a special source referred to in Part III of the First Schedule shall be the current income from the special source for the financial year. (2) The current income from the special source referred to in sub-section (1) shall be aggregated with the unabsorbed preceding year loss from the special source, if any; and the income so aggregated shall be the gross total income from the special source, for the financial year. (3) Where the gross total income from the special source referred to in sub-section (2) is negative, such income shall be treated as ''nil''and the absolute value of the net result shall be the amount of unabsorbed current loss from the special sourcefor the financial year. (4) The gross total income from special source in respect of each special source computed under sub-sections (2) and (3) shall be aggregated and the net result of the aggregation shall be the total income from special sources for the financial year. Aggregation of income from Special Sources.