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Indian Income Tax Bill, 2025   Chapter IV ‐ D   Computation of Total Income Profits and gains of business or profession   Section No. Particulars IT Act, 1961 Section No. if any 26   Income under head "Profits and gains of business or profession" 28 27   Manner of computing profits and gains of business or profession 29 28   Rent, rates, taxes, repairs and insurance 30  /  31  /  38 29   Deductions related to employee welfare 36  /  40A 30   Deduction on certain premium 36 31   Deduction for bad debt and provision for bad and doubtful debt 36 32   Other deductions 36 33   Deduction for depreciation 32  /  38 34   General conditions for allowable deductions 37 35   Amounts not deductible in certain circumstances 40 36   Expenses or payments not deductible in certain circumstances 40A 37   Certain deductions allowed on actual payment basis only 43B 38   Certain sums deemed as profits and gains of business or profession 41 39   Computation of actual cost 43 40   Special provision for computation of cost of acquisition of certain assets 43C 41   Written down value of depreciable asset 43 42   Capitalising the impact of foreign exchange fluctuation 43A 43   Taxation of foreign exchange fluctuation 43AA 44   Amortisation of certain preliminary expenses 35D 45   Expenditure on scientific research 35 46   Capital expenditure of specified business 35AD 47   Expenditure on agricultural extension project and skill development project 35CCC  /  35CCD 48   Tea development account, coffee development account and rubber development account 33AB 49   Site Restoration Fund 33ABA 50   Special provision in the case of trade, profession or similar association 44A 51   Amortisation of expenditure for prospecting certain minerals 35E 52   Amortisation of expenditure for telecommunications services, amalgamation, demerger, scheme of voluntary retirement, etc. 35ABA  /  35ABB  /  35DD  /  35DDA 53   Full value of consideration for transfer of assets other than capital assets in certain cases 43CA 54   Business of prospecting for mineral oils 42 55   Insurance business 44 56   Special provision in case of interest income of specified financial institutions 43D 57   Revenue recognition for construction and service contracts 43CB 58   Special provision for computing profits and gains of business or profession on presumptive basis in case of certain residents 44AD  /  44ADA  /  44AE 59   Chargeability of royalty and fee for technical services in hands of non-residents 44DA 60   Deduction of head office expenditure in case of non-residents 44C 61   Special provision for computation of income on presumptive basis in respect of certain business activities of certain non-residents 44B  /  44BB  /  44BBA  /  44BBB  /  44BBC  /  44BBD 62   Maintenance of books of account 44AA 63   Tax audit 44AB 64   Special provision for computing deductions in case of business reorganisation of co-operative banks 44DB 65   Interpretation for purposes of section 64 44DB 66   Interpretation 43 BACK