Clause 12 - Computation of total income. - Direct Taxes Code, 2010

CHAPTER III I. - GENERAL Computation of total income. 12. (1) The total income of a person shall be computed in accordance with the provisions of this Chapter. (2) Unless otherwise provided in this Code, reference to any accrual, receipt, expenditure, withdrawal, asset or liability shall be construed to be in relation to the financial year in respect of which, and the person in respect of whom, the income is computed.