Home > Income Tax Act 2025 > Section-54Last Updated: Feb 21st 2025
Section-54 provides for deduction of certain capital expenditure expenses incurred in business of prospecting for mineral oils. Learn to understand the section-54 as it is, it's help and useful links to follow.
Here onwards, "Act" refers to "Income Tax Act 2025"
where,––
A = proceeds of the transfer (so far as they consist of capital sums);
B = total amount of expenditure incurred in connection with the business or to obtain interest therein;
C = amount of expenditure incurred remaining unallowed
Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.