Income From Business Chapter- 09
Section RuleTopic covered
(Part - I for CAF- 6 and ICMAP students)
Part - I
2( 10 ) & 18 Business & income from business
18 Profit on debt, lease amounts, dividend income from mutual funds
19 Speculation business
20 Deductions in computing income from business
10 Entertainment expenditure
11 Agriculture produce used as raw materials
26 Scientific research expenditure
27 Employee training facilities
28 Profit on debt, financial cost & lease payments
Special purpose vehicle
29 Bad debts
21 Deductions not allowed
Deductible allowance
60 Zakat
60A Workers welfare fund
60B Workers participation fund
60C Deductible allowance for profit on debt – Omitted by Finance Act, 2022
60D Deductible allowance for education expenses
11, 50, 51 & 101 Geographical source of business income & their taxability
(Part - II for CA Mod F and ICMAP students)
29A Provisions regarding consumers loan
30 Profit on non performing debts of a banking company
31 Transfer to Participatory reserve
Exemptions
Practice questions with solutions
MCQ’s with solutions
ICMAP & CA Mod C past papers theoretical questionsPART – I (For CAF- 6 and ICMAP students)
- Business [U/s 2( 10 )]
The term "business" includes any trade, commerce, manufacture, profession, vocation or adventure
or concern in such nature but does not include an employment.- Incomes from business [U/s 18(1), (2), (3) and (4)]
The following incomes of a person (other than exempt income), shall be chargeable to tax as
"Income from Business"-9 Income from business
Chapter