February 28, 2018
Published by Law@HostBooks at February 28, 2018
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Section – 43CA : Special provision for full value of consideration for transfer of assets other than capital assets in certain cases

43CA. (1) Where the consideration received or accruing as a result of the transfer by an assessee of an asset (other than a capital asset), being land or building or both, […]
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February 28, 2018
Published by Law@HostBooks at February 28, 2018
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Section – 43C : Special provision for computation of cost of acquisition of certain assets

43C. (1) Where an asset [not being an asset referred to in sub-section (2) of section 45] which becomes the property of an amalgamated company under a scheme of amalgamation, […]
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February 28, 2018
Published by Law@HostBooks at February 28, 2018
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Section – 43B : Certain deductions to be only on actual payment

43B. Notwithstanding anything contained in any other provision of this Act, a deduction otherwise allowable under this Act in respect of— (a) any sum payable by the assessee by way […]
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February 28, 2018
Published by Law@HostBooks at February 28, 2018
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Section – 43A : Special provisions consequential to changes in rate of exchange of currency

43A. Notwithstanding anything contained in any other provision of this Act, where an assessee has acquired any asset in any previous year from a country outside India for the purposes […]
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February 28, 2018
Published by Law@HostBooks at February 28, 2018
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Section – 43 : Definitions of certain terms relevant to income from profits and gains of business or profession

43. In sections 28 to 41 and in this section, unless the context otherwise requires— (1) “actual cost” means the actual cost of the assets to the assessee, reduced by […]
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February 28, 2018
Published by Law@HostBooks at February 28, 2018
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Section – 42 : Special provision for deductions in the case of business for prospecting, etc., for mineral oil

42. (1) For the purpose of computing the profits or gains of any business consisting of the prospecting for or extraction or production of mineral oils in relation to which […]
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February 28, 2018
Published by Law@HostBooks at February 28, 2018
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Section – 41 : Profits chargeable to tax

41. (1) Where an allowance or deduction has been made in the assessment for any year in respect of loss, expenditure or trading liability incurred by the assessee (hereinafter referred […]
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February 28, 2018
Published by Law@HostBooks at February 28, 2018
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Section – 40A : Expenses or payments not deductible in certain circumstances

40A. (1) The provisions of this section shall have effect notwithstand- ing anything to the contrary contained in any other provision of this Act relating to the computation of income […]
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February 28, 2018
Published by Law@HostBooks at February 28, 2018
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Section – 40 : Amounts not deductible

40. Notwithstanding anything to the contrary in sections 30 to 38, the following amounts shall not be deducted in computing the income chargeable under the head “Profits and gains of […]
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