Professional income allocation revised for tax computation, narrowing the taxable base to income arising from the profession. The amendment substitutes in section 280U the phrase twenty-five per cent. of his adjusted total income with twenty-five per cent. of the income from such profession included in his total income, thereby confining the computation base to professional income as included in total income; effected by the Direct Taxes (Amendment) Act, 1964, with operation from the 1st April, 1964.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Professional income allocation revised for tax computation, narrowing the taxable base to income arising from the profession.
The amendment substitutes in section 280U the phrase twenty-five per cent. of his adjusted total income with twenty-five per cent. of the income from such profession included in his total income, thereby confining the computation base to professional income as included in total income; effected by the Direct Taxes (Amendment) Act, 1964, with operation from the 1st April, 1964.
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