Understanding of Provisions of Deemed Income

Chapters Pages

1. Introduction
2. Deemed Dividend [Section 2(40)(e)]
   [Corresponding to Section 2(22)(e) of the Income Tax Act, 1961]
3.  Any sum received under Keyman Insurance Policy [Section 2(49)(p)]
   {Corresponding to section 2(24)(xi) of the Income Tax Act, 1961}
4. Income deemed to be received in the Tax year [Section 7]
   {Corresponding to Section 7 of the Income Tax Act, 1961}
5. Income on receipt of Capital Asset or Stock in Trade by Specified
   Person from Specified Entity [Section 8]
   {Corresponding to section 9B of the Income Tax Act, 1961}
6. Income deemed to accrue or arise in India [Section 9]
   {Corresponding to Section 9 of the Income Tax Act, 1961}
7. Deemed Rental Income from Vacant House Properties [Section 21]
   {Corresponding to Section 23(2) to (5) of the Income Tax Act, 1961}
8. Any sum received or receivable, in cash or in kind under an
   Agreement [Section 26(2)(h)]
   {Corresponding to Section 28(va) of the Income Tax Act, 1961}
9. Conversion of Inventory into Capital Asset [Section 26(2)(j)]
   {Corresponding to Section 28(via) of the Income Tax Act, 1961}
10. Employees contribution Deposited after due date of
    filing of return of income under section 263(1) for the
    tax year [Section 29(1)(e)]
    {Corresponding to Section 36(1)(va) of the Income Tax Act, 1961}
11. Deemed earlier Allowed Expenditure as Business
    Income [Section 36(5)]
    {Corresponding to Section 40A(3A) of the Income Tax Act, 1961}
12. Cessation of Liabilities deemed Profits Chargeable
    to Tax [Section 38]
    {Corresponding to Section 41 of the Income Tax Act, 1961}
13. Determining the full value of consideration in cases of Transfer
    of Immovable Property – Deemed Capital Gain [Section 78]
    {Corresponding to Section 50C of the Income Tax Act, 1961}
14. Forfeiture of Advance Money on Failed
    Negotiation [Section 92(2)(h)]
    {Corresponding to Section 56(2)(ix) of the Income Tax Act, 1961}
15. Money/Property received without consideration or
    Inadequate Consideration [Section 92(2)(m)]
    {Corresponding to Section 56(2)(x) of the Income Tax Act, 1961}
16. Deemed Income – If any amount or benefit is obtained by a
    successor [Section 95]
    {Corresponding to Section 59 of the Income Tax Act, 1961}
17. Unexplained Credits [Section 102]
    {Corresponding to section 68 of the Income Tax Act, 1961}
18. Unexplained Investment [Section 103]
    {Corresponding to Section 69 of the Income Tax Act, 1961}
19. Unexplained Asset [Section 104]
    [Corresponding to Section 69A of the Income-Tax Act, 1961]
20. Unexplained Expenditure [Section 105]
    {Corresponding to Section 69C of the Income-Tax Act, 1961}
21. Amount borrowed or repaid through negotiable instrument,
    Hundi etc. [Section 106]
    {Corresponding to Section 69D of the Income Tax Act, 1961}
22. Tax on Income referred to in Sections 102 or 103 or 104
    or 105 [Section 195]
    {Corresponding to Section 115BBE of the Income Tax Act, 1961}
23. Interest received on any Compensation or on Enhanced
    Compensation [Section 278(1)]
    {Corresponding to Section 145B(1) of the Income Tax Act, 1961}
24. Escalation claims and Export Incentives deemed to be the
    Income [Section 278(2)]
    {Corresponding to Section 145B(2) of the Income Tax Act, 1961}
25. Assistance in the form of a subsidy or grant or cash
    incentive or duty drawback or waiver or Concession or
    Reimbursement [Section 278(3)]
    {Corresponding to Section 145B(3) of the Income Tax Act, 1961}
26. Recovery after Discontinuance of Business or
    Profession [Section 320]
    {Corresponding to Section 176 of the Income Tax Act, 1961}
27. Tax on Deemed income from Accreted Income of a Trust or
    Institution [Section 352]
    {Corresponding to Sections 115TD to 115TF of the Income Tax
    Act, 1961}
28. Deemed Income of Charitable and Religious Trusts
29. Notional Income or Deemed Income
30. Addition of deemed income on protective basis