Amortization of mineral prospecting expenses allows a 10-year deduction for eligible costs incurred before and during production, with carry-forward and transfer provisions.

Amortization of telecom, amalgamation, demerger & VRS costs under Section 52(1) of the Income Tax Act 2025, with deductions spread over specified years.

If transfer consideration is below stamp duty value, the latter is deemed full value unless within 110% margin or pre-agreed.

Deductions for businesses engaged in oil exploration. It defines eligible activities, agreements with the government, allowable deductions, and tax treatment of transfers.

Insurance business profits are computed as per Schedule XIV, overriding other tax provisions for house property, capital gains, or other income.

Special provision for interest income of specified financial institutions: Taxable under “Profits & Gains” when credited or received, per Section 56(1) IT Act 2025.

Revenue from construction & service contracts is recognized via the percentage of completion method, with exceptions for short-term & indeterminate contracts.

Presumptive taxation for specified businesses/professions based on turnover; mandates books/audit if lower profits claimed. Restrictions & conditions apply.

Royalty & technical service fees received by non-residents are taxed as business income if linked to a permanent establishment in India. Deductions are restricted.

Deduction of head office expenditure for non-residents under Section 60(1) of the Income Tax Act 2025 is capped at 5% of adjusted total income.

Section 61 of the Income Tax Act 2025 provides a presumptive taxation scheme for non-residents in specific businesses, fixing taxable income as a percentage of revenue.

Persons engaged in specified professions or businesses must maintain books of account if income or turnover exceeds set limits, as per Section 62 of the Income Tax Act 2025.