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[Cites 0, Cited by 0] [Section 57] [Entire Act]

Union of India - Subsection

Section 57(3) in The Income Tax Act, 2025

(3)For the purposes of percentage of completion method, project completion method or straight line method under this section,—
(a)the contract revenue shall include retention money;
(b)the contract costs shall not be reduced by any incidental income in the nature of interest, dividends or capital gains.