Deduction from Income from Other Sources under Section 57

After making the following deduction the income chargeable tax under this head:

  1. Income of family pension: Rs. 15,000 or 331/3% of such income, whichever is lower.
  2. in the nature of machinery, plant or furniture let on hire:
    1. Repairs to building [Sec. 30 (a) (ii)] and current repairs to machinery, plant or furniture and insurance premium [Sec. 31]
    2. Unabsorbed depreciation [sec. 32(2)] and depreciation on plant, building or insurance premium, machinery [sec
  3. In the case of dividend income- reasonable remuneration paid for realisation of dividend
  4. Any other expenses exclusively for purpose of earning income.
  5. In case of interest or enhanced compensation 50% of such interest.

Amount not deductible under section 58, 115A, 115AB, 115AC, 115AD, 115BBA and 115D.

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