Section 59: Profits chargeable to tax

The Income-tax Act, 1961Central Act · Act 43 of 1961

Repealed. This text is published for reference. It is not in force, and it should not be relied on as current law without checking what replaced it. Repealed by the Income-tax Act, 2025, with effect from 1 April 2026

Profits chargeable to tax.

(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) [***]

Explanation.—[***]

Where this provision sits

Act	The Income-tax Act, 1961
Section	59
Marginal note	Profits chargeable to tax
Jurisdiction	Central
Status	Repealed
Judgments citing it	3

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