The Reader

Annual value of club is not chargeable to tax under the head house property, since because of principle of mututality.

Chapter VIA deductions is not available for capital gain incomes

The total income from the commencement of previous year upto the date of proceedings u/s 175 is taxable in that year itself.

U/s 10(23BBG) Income of the central electricity regulatory commission is exempt from tax.

U/s 194A, tax is to be deducted from interest from banks on time deposits.

Depreciation can be carried forward by the same assessee except in case of amalgamation, demerger and business reorganisatoin u/s 47(xiii)/ 47(xiv).

U/s 35, any contribution made to approved scientific association shall be allowed to an extent of 125% of such contribution.

Scheme of Fixed Deposits governed by the Govt. savings certificates (Fixed Deposits) Rules 1968 is exempt u/s 10(15).