Sub-part: F.—Income from other sources Sections: 92–95 Old Act equivalent: Sections 56, 57, 58, 59 Status: ✅ Fully ingested — sections 92–95 completed
Overview
This sub-part covers the charging, deduction, disallowance, and deemed-profit provisions for the residuary head “Income from other sources” under the Income Tax Act, 2025.
Key changes from the 1961 Act:
- Old Section 56 (charging + gifts) → new Section 92
- Old Section 57 (deductions) → new Section 93
- Old Section 58 (not deductible) → new Section 94
- Old Section 59 (profits chargeable) → new Section 95
- Gift taxation (old s.56(2)(x)) consolidated into section 92(2)(m) with Rs. 50,000 threshold and 10% safe harbour for immovable property
- Virtual digital asset (VDA) explicitly added to “property” definition
- Family pension deduction: Rs. 25,000 (new regime) / Rs. 15,000 (old)
- Finance Act 2026: dividend — no deduction at all now (prior: 20% interest expense allowed)
Sections in This Folder
| Section | Heading | Old Equivalent | Ingested |
|---|---|---|---|
| 92 | Income from other sources — charging | 56 | ✅ |
| 93 | Deductions | 57 | ✅ |
| 94 | Amounts not deductible | 58 | ✅ |
| 95 | Profits chargeable to tax | 59 | ✅ |
Key Cross-References
- Charging: s092 — residuary head; catches everything not under Salaries, House Property, PGBP, or Capital Gains
- Gift taxation: s092(2)(m) → exclusions in s092(3) (relative, will, marriage)
- Deductions: s093 → family pension, hire income depreciation, commission
- Dividend: s093(2) — zero deductions post Finance Act 2026
- Disallowances: s094 imports PGBP disallowance provisions (sections 29, 35, 36)
- Lottery/gambling: s094(4) — no deductions at all
- Deemed profits: s095 imports section 38 (recovery, balancing charge)
- TDS on other sources: see tds-tcs/s393