Deductions to be made in Computing Total Income | As Per Provisions of Chapter VIII: Sections 122 to 154 of The Income Tax Act, 2025 | As Amended by The Finance Act, 2026

This edition of Deductions to be made in Computing Total Income, updated as per the provisions of Chapter VIII (Sections 122 to 154) of The Income Tax Act, 2025 and amended by The Finance Act, 2026, serves as a focused and authoritative legal reference for professionals in law, taxation, accounting, and financial advisory. Authored by Ram Dutt Sharma, this work provides a precise and up-to-date treatment of the statutory deductions framework under the new income tax legislation, making it especially useful for legal reference, tax computation, and academic study.

The book is devoted exclusively to the provisions governing deductions that are to be considered while computing total income under the Income Tax Act, 2025. By concentrating specifically on Chapter VIII, it offers readers a structured and accessible resource for understanding the legislative basis of allowable deductions and their practical relevance in tax computation. The text is particularly valuable for those requiring a dedicated statutory source on deduction-related provisions without unnecessary digression.

The content spans the core scope of deductions under the Income Tax Act, including:

• Statutory framework of deductions under Chapter VIII
• Provisions contained in Sections 122 to 154
• Deduction mechanisms relevant to the computation of total income
• Legislative structure and applicability of deduction provisions
• Interpretation-ready statutory text for examination and compliance use
• Updated legal position after amendments introduced by The Finance Act, 2026
• Relevance of deductions in taxable income determination
• Reference utility for return preparation and tax planning support
• Alignment with current direct tax law reforms under the Income Tax Act, 2025

This book is highly suitable for Chartered Accountants, tax consultants, auditors, finance managers, payroll professionals, and business owners involved in tax planning and compliance. It is equally beneficial for CA, CS, CMA, B.Com, MBA, and law students studying direct taxation.