Income Tax Section - 59, Income Tax Act, 1961-2020

  Income Tax

Section - 59, Income Tax Act, 1961-2020

Profits chargeable to tax.

59. (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) [***]