1,2 (1) Where the total income of an assessee,-
(a) includes any income referred to in section 68, section 69, section 69A, section 69B, section 69C or section 69D and reflected in the return of income furnished under section 139; or
(b) determined by the Assessing Officer includes any income referred to in section 68, section 69, section 69A, section 69B, section 69C or section 69D, if such income is not covered under clause (a), the income-tax payable shall be the aggregate of-
(i) the amount of income-tax calculated on the income referred to in clause (a) and clause (b), at the rate of sixty per cent; and
(ii) the amount of income-tax with which the assessee would have been chargeable had his total income been reduced by the amount of income referred to in clause (i).
(2) Notwithstanding anything contained in this Act, no deduction in respect of any expenditure or allowance 3 or set off of any loss shall be allowed to the assessee under any provision of this Act in computing his income referred to in clause (a) 4 and clause (b) of sub-section (1).
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1. Ins. by Act 23 of 2012, s. 47 (w.e.f. 1-4-2013).
2. Subs. by Act 48 of 2016, s. 2, for section 115BBE (w.e.f. 1-4-2017).
3. Ins. by Act 28 of 2016, s. 53 (w.e.f. 1-4-2017).
4. Ins. by Act 13 of 2018, s. 36 (w.r.e.f. 1-4-2017).
Section 115BBDA Tax on certain dividends received from domestic companies
Section 115BBF Tax on income from patent
Section 115BBG Tax on income from transfer of carbon credits
Section 115D Special provision for computation of total income of non-residents
Section 115E Tax on investment income and long-term capital gains
Section 115F Capital gains on transfer of foreign exchange assets not to be charged in certain cases
Section 115G Return of income not to be filed in certain cases