Section 13 — Heads of income

Save as otherwise provided in this Act, all incomes shall, for the purposes
of charge of income-tax and computation of total income, be classified under
the following heads of income:—
( a) Salaries;
( b) Income from house property;
( c) Profits and gains of business or profession;
( d) Capital gains; and
( e) Income from other sources.

Related sections

Section 14 — Income not forming part of total income and expenditure in relation to such income
Section 15 — Salaries
Section 16 — Income from salary
Section 17 — Perquisite
Section 18 — Profits in lieu of salary
Section 19 — Deductions from salaries
Section 20 — Income from house property
Section 21 — Determination of annual value
Section 22 — Deductions from income from house property
Section 23 — Arrears of rent and unrealised rent received subsequently
Section 24 — Property owned by co-owners
Section 25 — Interpretation
Section 26 — Income under head “Profits and gains of business or profession”
Section 27 — Manner of computing profits and gains of business or profession
Section 28 — Rent, rates, taxes, repairs and insurance
Section 29 — Deductions related to employee welfare
Section 30 — Deduction on certain premium
Section 31 — Deduction for bad debt and provision for bad and doubtful debt
Section 32 — Other deductions
Section 33 — Deduction for depreciation
Section 34 — General conditions for allowable deductions
Section 35 — Amounts not deductible in certain circumstances
Section 36 — Expenses or payments not deductible in certain circumstances
Section 37 — Certain deductions allowed on actual payment basis only
Section 38 — Certain sums deemed as profits and gains of business or profession
Section 39 — Computation of actual cost
Section 40 — Special provision for computation of cost of acquisition of certain assets
Section 41 — Written down value of depreciable asset
Section 42 — Capitalising impact of foreign exchange fluctuation
Section 43 — Taxation of foreign exchange fluctuation
Section 44 — Amortisation of certain preliminary expenses
Section 45 — Expenditure on scientific research
Section 46 — Capital expenditure of specified business
Section 47 — Expenditure on agricultural extension project and skill development project
Section 48 — Tea development account, coffee development account and rubber development account
Section 49 — Site Restoration Fund
Section 50 — Special provision in case of trade, profession or similar association
Section 51 — Amortisation of expenditure for prospecting certain minerals
Section 52 — Amortisation of expenditure for telecommunications services, amalgamation, demerger, scheme of voluntary retirement, etc
Section 53 — Full value of consideration for transfer of assets other than capital assets in certain cases
Section 54 — Business of prospecting for mineral oils
Section 55 — Insurance business
Section 56 — Special provision in case of interest income of specified financial institutions
Section 57 — Revenue recognition for construction and service contracts
Section 58 — Special provision for computing profits and gains of business or profession on presumptive basis in case of certain residents
Section 59 — Computation of royalty and fee for technical services in hands of non-residents
Section 60 — Deduction of head office expenditure in case of non-residents
Section 61 — Special provision for computation of income on presumptive basis in respect of certain business activities of certain non-residents
Section 62 — Maintenance of books of account
Section 63 — Tax audit
Section 64 — Special provision for computing deductions in case of business reorganisation of co-operative banks
Section 65 — Interpretation for purposes of section 64
Section 66 — Interpretation
Section 67 — Capital gains
Section 68 — Capital gains on distribution of assets by companies in liquidation
Section 69 — Capital gains on purchase by company of its own shares or other specified securities
Section 70 — Transactions not regarded as transfer
Section 71 — Withdrawal of exemption in certain cases
Section 72 — Mode of computation of capital gains
Section 73 — Cost with reference to certain modes of acquisition
Section 74 — Special provision for computation of capital gains in case of depreciable assets
Section 75 — Special provision for cost of acquisition in case of depreciable asset
Section 76 — Special provision for computation of capital gains in case of Market Linked Debenture
Section 77 — Special provision for computation of capital gains in case of slump sale
Section 78 — Special provision for full value of consideration in certain cases
Section 79 — Special provision for full value of consideration for transfer of share other than quoted share
Section 80 — Fair market value deemed to be full value of consideration in certain cases
Section 81 — Advance money received
Section 82 — Profit on sale of property used for residence
Section 83 — Capital gains on transfer of land used for agricultural purposes not to be charged in certain cases
Section 84 — Capital gains on compulsory acquisition of lands and buildings not to be charged in certain cases
Section 85 — Capital gains not to be charged on investment in certain bonds
Section 86 — Capital gains on transfer of certain capital assets not to be charged in case of investment in residential house
Section 87 — Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area
Section 88 — Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone
Section 89 — Extension of time for acquiring new asset or depositing or investing amount of capital gains
Section 90 — Meaning of “adjusted”, “cost of improvement” and “cost of acquisition”
Section 91 — Reference to Valuation Officer
Section 92 — Income from other sources
Section 93 — Deductions
Section 94 — Amounts not deductible
Section 95 — Profits chargeable to tax