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income from other sources

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12 Points Posted on 08 March 2019
can anyone explain me sec 59?
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On 08 March 2019 at 11:09 Report
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CA FINAL ASPIRANT
3115 Points Posted on 08 March 2019
 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
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On 08 March 2019 at 12:59
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Student
7053 Points Posted on 09 March 2019
Section 59 : 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
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On 09 March 2019 at 23:09
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section 59 says about deemed income chargeable to tax under which deduction has been made for any loss or expenses made and subsequently any income regarding the same. then it shall be deemed as income in which the amount is received .
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On 10 March 2019 at 12:07
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other
343 Points Posted on 10 March 2019

But the section is applicable to deemed income under head Income From Other Sources.

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On 10 March 2019 at 12:17


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