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Report No. 12

Chapter IV

Computation of Total Income

Notes to clause 14

1. This corresponds to section 6 of the present Act. The opening words of the section, have, however, been modified so as to make it clear that the section merely classifies the chargeable income into different heads for the purpose of computation of total income. That section 6 concerns itself with classification and sections 7, 8, 9 etc. with computation is clear from the discussion in Kothari v. C.I.T., (1951) 20 ITR 579. and in United Commercial Bank Ltd. v. C.I.T., (1957) 32 ITR 688.

2. Item (c) relating to "Income from property" has been changed into "Income from House Property". Section 9 is essentially concerned with House Property and the description now adopted will clearly indicate the nature of the head.

Another variation in the present section is the mention of the head "Income from other sources" after the head "Capital gains", indicating that "Income from other sources" continues to be the residuary head as heretofore.

Income-Tax Act, 1922 Back

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