Sub-part: D.—Profits and gains of business or profession Sections: 26–66 Old Act equivalent: Sections 28–44DB (Chapter IV-D of IT Act 1961) Status: ✅ Fully ingested — sections 26–66 completed (41 sections)
Overview
This sub-part covers the charging, computation, deductions, disallowances, deemed profits, depreciation, amortisation, presumptive taxation, and interpretive provisions for income under the head “Profits and Gains of Business or Profession” under the Income Tax Act, 2025.
Key changes from the 1961 Act:
- Old sections 28–44DB are consolidated into sections 26–66
- Charging section (old 28) is now Section 26
- Depreciation (old 32) is now Section 33
- General deduction condition (old 37(1)) is now Section 34
- Disallowances (old 40, 40A) are now Sections 35, 36
- Deemed profits (old 41) is now Section 38
- Actual cost / WDV definitions (old 43) split across Sections 39–43
- Presumptive taxation (old 44AD/ADA/AE) consolidated in Section 58
- Interpretation (old 43-series definitions) consolidated in Section 66
Sections in This Folder
Key Cross-References
- Charging: s026 → all other PGBP sections
- Computation framework: s027 → sections 28–60 (except 58)
- Deductions allowed: sections 28–33
- Disallowances: sections 34–37
- Deemed profits: section 38
- Asset costing: sections 39–43
- Amortisation: sections 44, 51, 52
- Research & specified business: sections 45–47
- Special industries: sections 48–50, 54–57
- Presumptive taxation: sections 58, 61
- Non-residents: sections 59–61
- Compliance: sections 62–63
- Interpretation: sections 65–66
Related Topics
- Capital Gains — Section 67 onwards
- Income from House Property — Section 26(4) carve-out
- Deductions from Total Income — Chapter VI-A
- TCS — Withholding on business payments
- Assessment Procedure — Return filing, method of accounting