New Provision
Section 13, IT Act 2025
Replaces (IT Act 1961)
44
Chapter
Chapter III — Incomes Not Forming Part of Total Income
Effective From
1 April 2026
Statutory Text — Section 13
ve as otherwise provided in this Act, all incomes shall, for the purposes of charge of income-tax and computation of total income, be classified under the following heads of income:— (a) Salaries; (b) Income from house property; (c) Profits and gains of business or profession; (d) Capital gains; and (e) Income from other sources.
Shahi & Co. — Our Understanding
This section falls under Chapter III which lists incomes that are specifically exempt from income tax — the equivalent of Section 10 of the old Income Tax Act, 1961.
Practical Note: Exempt incomes do not form part of total income for tax computation. However, they may still need to be disclosed in the ITR. Always verify eligibility conditions before claiming an exemption.
Shahi & Co., Chartered Accountants
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Disclaimer: This is a reproduction of Section 13 of the Income Tax Act, 2025 (No. 30 of 2025) as published in the Official Gazette of India (CG-DL-E-22082025-265620) for informational and reference purposes only. Shahi & Co., Chartered Accountants makes no warranty as to completeness or accuracy. For the official authenticated text refer to
egazette.gov.in or
incometaxindia.gov.in. This does not constitute legal or tax advice.