Section 4 charge section

Dear Vanshikha,

Referring to your query, please note the following explanations in this regard:

Section 4 of the Income Tax Act: The Basic / General charging section of the Income Tax on the income of every person to whom taxability of income tax arises.

Now come towards the question is there any other chargeability section exist or not?

So, the answer is given below:

Suppose you are earning salary Income, Rent Income, Business / Profession Income, Short Term Capital Gain. Interest from Saving Bank

To compute the taxability of the above incomes, there are different chargeability sections under difference head

Section 15: The charging section in respect of “Income from salaries”,

Section 22: The charging section respect of “Income from house property”, i.e. Rent Income,

Section 28: The charging section in respect of “Profits and gains of business or profession”,

Section 45: The charging section in respect of “Capital gains” i.e. Short-Term Capital Gain,

Section 56: The charging section in respect of “Income from other sources”, i.e. Interest from Saving Bank.

Please do let us know in case of any concerns.