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  1. An Act Made to Amend and Consolidate Laws Relating to Income Tax Preamble: Whereas, it is expedient to make timely the laws relating to income tax by amending and consolidating them in order to enhance

  2. 1. Short title and commencement : (1) This Act may be called as the Income tax Act, 2058 (2002). (2) This Act shall come into force throughout Nepal and also apply to the resident person in any place outside the Nepal. (3) This Act shall come into force immediately. 2.

  3. Section - 110. Determination of tax where total income includes income on which no tax is payable. Section - 115VF. Tonnage income. Section - 14A. Expenditure incurred in relation to income not includible in total income. Section - 115BBI. Specified income of certain institutions. Section - 4.

  4. 1) This Act may be called as the Income tax Act, 2058 (2002). 2) This Act shall come into force throughout Nepal and also apply to the resident person in any place outside the Nepal. 3) This Act shall come into force immediately.

  5. Income Tax Act 2058: Summary and Highlights. The Article covers the Major Provisions of Income Tax Act such as the Tax Assessable Income, Computation and Rate of Tax, and various forms of Deductions and Exemptions in Nepal for Income Tax.

  6. Introduction to Income Tax Law in Nepal. The Income Tax Law in Nepal is governed by the Income Tax Act, 2058 (2002) and the Income Tax Rules, 2059 (2002). The Inland Revenue District offices across the country oversee tax collection and administration. Taxpayers can pay taxes at designated locations or recognized banks.

  7. collection of income tax; for the ascertainment of the income to be charged; for the administrative and general provisions relating thereto; and for matters incidental to and connected with the foregoing [Act No. 16 of 1973, Act No. 13 of 1975, Act No. 2 of 1975, Act No. 7 of 1976, Act No. 11 of 1976,

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