Income Tax 2019 - 555. page

Income Tax as Amended by Finance Act 2018

Investment in new plant or machinery in notified backward areas in certain States : Section – 32AD . (1) Where an assessee, sets up an undertaking or enterprise for manufacture or […]

Investment in new plant or machinery : Section – 32AC. (1)Where an assessee, being a company, engaged in the business of manufacture or production of any article or thing, acquires and […]

Investment deposit account : Section – 32AB . (1) Subject to the other provisions of this section, where an assessee, whose total income includes income chargeable to tax under the head […]

Investment allowance : Section – 32A . (1) In respect of a ship or an aircraft or machinery or plant specified in sub- section (2), which is owned by the assessee […]

Depreciation : section-32. (1) In respect of depreciation of—   (i) buildings, machinery, plant or furniture, being tangible assets;  (ii) know-how, patents, copyrights, trade marks, licences, franchises or any other business or […]

Repairs and insurance of machinery, plant and furniture:  . In respect of repairs and insurance of machinery, plant or furniture used for the purposes of the business or profession, the following […]

Rent, rates, taxes, repairs and insurance for buildings : Section – 30 . In respect of rent, rates, taxes, repairs and insurance for premises, used for the purposes of the business […]

Income from profits and gains of business or profession, how computed :   Section – 29. The income referred to in section 28 shall be computed in accordance with the provisions contained in sections […]

Profits and gains of business or profession :   Section – 28. The following income shall be chargeable to income-tax under the head “Profits and gains of business or profession”,—   (i) […]

“Owner of house property”, “annual charge”, etc., defined :   Section – 27, . For the purposes of sections 22 to 26—   (i) an individual who transfers otherwise than for adequate consideration any house […]