INCOME-TAX ACT, 2025

Schedule III - SCHEDULE III

SCHEDULE III

(See section 11)

Income not to be included in total income of eligible persons

In computing the total income of a tax year of any eligible person mentioned in column C of the Table below, the income mentioned in column B of the said Table shall not be included, subject to the conditions mentioned in column D of the said Table, and the expressions used in columns B to D therein shall have the meanings respectively assigned to them in the Notes below the said Table.

S.82 Profit on sale of property used for residence

S.84 Capital gains on compulsory acquisition of lands and buildings not to be charged in certain cases

S.83 Capital gains on transfer of land used for agricultural purposes not to be charged in certain cases

S.81 Advance money received

S.75 Special provision for cost of acquisition in case of depreciable asset

S.58 Special provision for computing profits and gains of business or profession on presumptive basis in case of certain residents

S.61 Special provision for computation of income on presumptive basis in respect of certain business activities of certain nonresidents

S.60 Deduction of head office expenditure in case of nonresidents

S.62 Maintenance of books of account

S.52 Amortisation of expenditure for telecommunications services, amalgamation, demerger, scheme of voluntary retirement, etc

S.51 Amortisation of expenditure for prospecting certain minerals

S.54 Business of prospecting for mineral oils

S.59 Computation of royalty and fee for technical services in hands of nonresidents

S.50 Special provision in case of trade, profession or similar association

S.53 Full value of consideration for transfer of assets other than capital assets in certain cases

S.56 Special provision in case of interest income of specified financial institutions

S.57 Revenue recognition for construction and service contracts

S.49 Site Restoration Fund

S.55 Insurance business

S.88 Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone

S.111 Carry forward and set off of loss from Capital gains

S.112 Carry forward and set off of business loss

S.106 Amount borrowed or repaid through negotiable instrument, hundi, etc

S.104 Unexplained asset

S.110 Carry forward and set off of loss from house property

S.109 Set off of losses under any other head of income

S.108 Set off of losses under same head of income

S.103 Unexplained investment

S.105 Unexplained expenditure

S.107 Charge of tax

S.44 Amortisation of certain preliminary expenses

S.43 Taxation of foreign exchange fluctuation

S.19 Deductions from salaries

S.17 Perquisite

S.21 Determination of annual value

S.20 Income from house property

S.35 Amounts not deductible in certain circumstances

S.39 Computation of actual cost

S.41 Written down value of depreciable asset

S.42 Capitalisig impact of foreign exchange fluctuation

S.26 Income under head "Profits and gains of business or profession"

S.22 Deductions from income from house property

S.25 Interpretation

S.28 Rent, rates, taxes, repairs and insurance

S.23 Arrears of rent and unrealised rent received subsequently

S.24 Property owned by co-owners

S.27 Manner of computing profits and gains of business or profession

preliminary Act No. 30 of 2025

S.6 Residence in India

S.5 Scope of total income

S.4 Charge of income-tax

S.1 Short title, extent and commencement

S.9 Income deemed to accrue or arise in India

S.8 Income on receipt of capital asset or stock-in-trade by specified person from specified entity

S.7 Income deemed to be received and dividend deemed to be income in a tax year

S.10 Apportionment of income between spouses governed by Portuguese Civil Code

S.14 Income not forming part of total income and expenditure in relation to such income

S.16 Income from salary

S.12 Incomes not included in total income of political parties and electoral trusts

S.11 Incomes not included in total income

S.15 Salaries

S.13 Heads of income

S.33 Deduction for depreciation

S.32 Other deductions

S.31 Deduction for bad debt and provision for bad and doubtful debt

S.29 Deductions related to employee welfare

S.30 Deduction on certain premium

S.36 Expenses or payments not deductible in certain circumstances

S.38 Certain sums deemed as profits and gains of business or profession

S.37 Certain deductions allowed on actual payment basis only

S.34 General conditions for allowable deductions

S.40 Special provision for computation of cost of acquisition of certain assets

S.48 Tea development account, coffee development account and rubber development account

S.47 Expenditure on agricultural extension project and skill development project

S.2 Definitions

S.46 Capital expenditure of specified business

S.45 Expenditure on scientific research

S.18 Profits in lieu of salary

S.3 Definition of "tax year"

S.434 Form of claim for refund and limitation