AUBSP»Income Tax»Taxpayers»Section 14 of Income-tax Act 1961-2017 – Heads of income

Section 14 of Income-tax Act 1961-2017 – Heads of income

Detail analysis of the provisions of Section 14 (Heads of income) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Chapter IV (Sections 14-59) of Income Tax Act, 1961 deals with provisions related to computation of total income. Section 14 of Income Tax Act 1961-2017 provides for heads of income.

Save as otherwise provided by this Act, all income shall, for the purposes of charge of income-tax and computation of total income, be classified under the following heads of income:—

C.—Income from house property.
D.—Profits and gains of business or profession.
E.—Capital gains.
F.—Income from other sources.

If you don't want to miss our daily Notes and Updates then you may Subscribe to AUBSP via Email | Facebook | Twitter | and Google Plus

Leave a Reply

Notify of