Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Knowledge Portal
Click here to explore deep insights, FAQs, and comprehensive tax guides.
Explore Now
Deductions Allowed & Amounts Expressly Disallowed
Deductions Allowed & Amounts Expressly
DisallowedRelevant Provision: Section
93 and Section 941. Section 93 — What CAN Be Deducted
Income Type
Allowable Deduction
...
Letting Out of Machinery, Plant & Furniture
Letting Out of Machinery, Plant
& FurnitureRelevant Provision: Section
92(2)(f) and (g)
1. The Two Charging ClausesSection
92(2)(f) covers income from machinery, plant or furniture belonging to the
assessee an...
Keyman Insurance, Termination Compensation & Life Insurance Proceeds
Keyman Insurance, Termination Compensation
& Life Insurance ProceedsRelevant Provision: Section
92(2)(d), (j) and (l)1. Keyman Insurance Policy — Section
92(2)(d)A Keyman
insurance policy is taken by a business...
Interest Income — Bank Interest, Interest on Securities & Compensation Interest
Interest Income — Bank Interest,
Interest on Securities & Compensation InterestRelevant Provision: Section
92(2)(e) and (i)1. Charging ProvisionsSection
92(2)(e) covers interest on securities not chargeable unde...
Forfeited Advance on Failed Capital Asset Negotiations
Forfeited Advance on Failed Capital Asset NegotiationsRelevant Provision: Section 92(2)(h)1. The ProvisionSection 92(2)(h) taxes any sum received as an advance or otherwise during negotiations for transfer of a capital a...
Winnings from Lotteries, Card Games, Betting & Game Shows
Winnings from Lotteries, Card
Games, Betting & Game ShowsRelevant Provision: Section
92(2)(b)1. The Charging ProvisionSection
92(2)(b) taxes "any winning from lotteries, crossword puzzles, races
including horse r...
Forfeited Advance on Failed Capital Asset Negotiations
Forfeited Advance on Failed Capital Asset NegotiationsRelevant Provision: Section 92(2)(h)1. The ProvisionSection 92(2)(h) taxes any sum received as an advance or otherwise during negotiations for transfer of a capital a...
Taxation of Dividend Income
Taxation of Dividend IncomeRelevant Provision: Section
92(2)(a)1. Charging ProvisionUnder Section
92(2)(a), "any dividend" is chargeable under Income from Other
Sources. Since dividend income was moved out of exemptio...
Family Pension — Taxation & Standard Deduction
: Family Pension — Taxation & Standard
DeductionRelevant Provision: Section
92 read with Section 93(1)(d)1. Family Pension vs PensionPension
received by a retired employee during their own lifetime is taxable un...
Income From Other Sources — The Residuary Head Explained
Income From Other Sources — The
Residuary Head ExplainedRelevant Provision: Section
92 | Old Section 561. What Is the Residuary Head?Indian income
tax law recognises five heads of income under Section 13 of the 2025...