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1961Section 59

59. Profits chargeable to tax.

In the 2025 Act1 match · Unreviewed

From the Income Tax Department's correspondence.

(1) The provisions of sub-section (1) of section 41 shall apply, so far as may be, in computing the income of an assessee under section 56, as they apply in computing the income of an assessee under the head "Profits and gains of business or profession".

(2) [***]

(3) [***]

Explanation.—[***]

Income-tax Act, 1961: text as on 22 May 2026 · Official source ↗ ·