INCOME TAX ACT, 1961

INCOME TAX ACT, 1961

S.1 Short title, extent and commencement

S.2 Definitions

S.3 “Previous year” defined

S.4 Charge of incom-tax

S.5 Scope of total income

S.5(a) Apportionment of income between spouses governed by Portuguese Civil Code

S.6 Residence in India

S.7 Income deemed to be received

S.8 Dividend income

S.9 Income deemed to accrue or arise in India

S.10 Incomes not included in total income

S.10(a) Special provision in respect of newly established undertakings in free trade zone, etc

S.10(a)(a) Special provisions in respect of newly established Units in Special Economic Zones

S.10(b) Special provisions in respect of newly established hundred per cent. export-oriented undertakings

S.10(b)(a) Special provisions in respect of export of certain articles or things

S.10(b)(b) Meaning of computer programmes in certain cases

S.10(c) Special provision in respect of certain industrial undertakings in North Eastern Region

S.11 Income from property held for charitable or religious purposes

S.12 Income of trusts or institutions from contributions

S.12(a) 2[Conditions for applicability of sections 11 and 12]

S.12(a)(a) Procedure for registration

S.13 Section 11 not to apply in certain cases

S.13(a) Special provision relating to incomes of political parties

S.14 Heads of income

S.14(a) Expenditure incurred in relation to income not includible in total income

S.15 Salaries

S.16 Deductions from salaries

S.17 “Salary”, “perquisite” and “profits in lieu of salary” defined

S.18 Interest on securities

S.19 Deductions from interest on securities

S.20 Deductions from interest on securities in the case of a banking company

S.21 Amounts not deductible from interest on securities

S.22 Income from house property

S.23 Annual value how determined

S.24 Deductions from income from house property

S.25 Amounts not deductible from income from house property

S.25(a) Special provision for cases where unrealised rent allowed as deduction is realised subsequently

S.25(a)(a) Unrealised rent received subsequently to be charged to income-tax

S.25(b) Special provision for arrears of rent received

S.26 Property owned by co-owners

S.27 “Owner of house property”, “annual charge”, etc., defined

S.28 Profits and gains of business or profession

S.29 Income from profits and gains of business or profession, how computed

S.30 Rent, rates, taxes, repairs and insurance for buildings

S.31 Repairs and insurance of machinery, plant and furniture

S.32 Depreciation

S.32(a) Investment allowance

S.32(a)(b) Investment deposit account

S.32(a)© Investment in new plant or machinery

S.33 Development rebate

S.33(a) Development allowance

S.33(a)(b) Tea development account 2[, coffee development account and rubber development account

S.33(a)(b)(a) Site Restoration Fund

S.33(a)© Reserves for shipping business

S.33(b) Rehabilitation allowance

S.34 Conditions for depreciation allowance and development rebate

S.34(a) Restriction on unabsorbed depreciation and unabsorbed investment allowance for limited period in case of certain domestic companies

S.35 Expenditure on scientific research

S.35(a) Expenditure on acquisition of patent rights or copyrights

S.35(a)(b) Expenditure on know-how

S.35(a)(b)(b) Expenditure for obtaining licence to operate telecommunication services

S.35(a)(c) Expenditure on eligible projects or schemes

S.35(a)(d) Deduction in respect of expenditure on specified business

S.35(b) [Omitted]

S.35(c) [Omitted]

S.35(c)(c) [Omitted]

S.35(c)(c)(a) Expenditure by way of payment to associations and institutions for carrying out rural development programmes

S.35(c)(c)(b) Expenditure by way of payment to associations and institutions for carrying out programmes of conservation of natural resources

S.35(d) Amortisation of certain preliminary expenses

S.35(d)(d) Amortisation of expenditure in case of amalgamation or demerger

S.35(d)(d)(a) Amortisation of expenditure incurred under voluntary retirement scheme

S.35(e) Deduction for expenditure on prospecting, etc., for certain minerals

S.36 Other deductions

S.37 General

S.38 Building, etc., partly used for business, etc., or not exclusively so used

S.39 Managing agency commission

S.40 Amounts not deductible

S.41 Profits chargeable to tax

S.42 Special provision for deductions in the case of business for prospecting, etc., for mineral oil

S.43 Definitions of certain terms relevant to income from profits and gains of business or profession

S.43(a) Special provisions consequential to changes in rate of exchange of currency

S.43(b) Certain deductions to be only on actual payment

S.43(c) Special provision for computation of cost of acquisition of certain assets

S.43(c)(a) Special provision for full value of consideration for transfer of assets other than capital assets in certain cases

S.43(d) Special provision in case of income of public financial institutions, public companies, etc.

S.44 Insurance business

S.44(a) Special provision for deduction in the case of trade, professional or similar association

S.44(a)(a) Maintenance of accounts by certain persons carrying on profession or business

S.44(a)(b) Audit of accounts of certain persons carrying on business or profession

S.44(a)(c) [Omitted]

S.44(a)(d) Special provision for computing profits and gains of business on presumptive basis

S.44(a)(e) Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages

S.44(a)(f) Special provisions for computing profits and gains of retail business

S.44(b) Special provision for computing profits and gains of shipping business in the case of non-residents

S.44(b)(b) Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils

S.44(b)(b)(a) Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents

S.44(b)(b)(b) Special provision for computing profits and gains of foreign companies, engaged in the business of civil construction, etc., in certain turnkey power projects

S.44(c) Deduction of head office expenditure in the case of nonresidents

S.44(d) Special provisions for computing income by way of royalties, etc., in the case of foreign companies

S.44(d)(a) Special provision for computing income by way of royalties etc., in case of non-residents

S.44(d)(b) Special provision for computing deductions in the case of business reorganisation of co-operative banks

S.45 Capital gains

S.46 Capital gains on distribution of assets by companies in liquidation

S.46(a) Capital gains on purchase by company of its own shares or other specified securities

S.47 Withdrawal of exemption in certain cases

S.48 Mode of computation

S.49 Cost with reference to certain modes of acquisition

S.50 Special provision for computation of capital gains in case of depreciable assets

S.50(a) Special provision for cost of acquisition in case of depreciable asset

S.50(b) Special provision for computation of capital gains in case of slump sale

S.50(c) Special provision for full value of consideration in certain cases

S.50(d) Fair market value deemed to be full value of consideration in certain cases

S.51 Advance money received

S.52 Consideration for transfer in cases of understatement

S.53 Exemption of capital gains from a residential house

S.54 Profit on sale of property used for residence

S.54(a) [Omitted]

S.54(b) Capital gain on transfer of land used for agricultural purposes not to be charged in certain cases

S.54(c) [Omitted]

S.54(d) Capital gain on compulsory acquisition of lands and buildings not to be charged in certain cases

S.54(e) Capital gain on transfer of capital assets not to be charged in certain cases

S.54(e)(a) Capital gain on transfer of long-term capital assets not to be charged in the case of investment in specified Securities

S.54(e)(b) Capital gain on transfer of long-term capital assets not to be charged in certain cases

S.54(e)(c) Capital gain not to be charged on investment in certain bonds

S.54(e)(d) Capital gain on transfer of certain listed securities or unit, not to be charged in certain cases

S.54(f) Capital gain on transfer of certain capital assets not to be charged in case of investment in residential house

S.54(g) Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking From urban area

S.54(g)(a) Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone

S.54(g)(b) Capital gain on transfer of residential property not to be charged in certain cases

S.54(h) Extension of time for acquiring new asset or depositing or investing amount of capital gain

S.55 Meaning of "adjusted", "cost of improvement" and "cost of acquisition"

S.55(a) Reference to Valuation Officer

S.56 Income from other sources

S.57 Deductions

S.58 Amounts not deductible

S.59 Profits chargeable to tax

S.60 Transfer of income where there is no transfer of assets

S.61 Revocable transfer of assets

S.62 Transfer irrevocable for a specified period

S.63 “Transfer” and “revocable transfer” defined

S.64 Income of individual to include income of spouse, minor child, etc

S.65 Liability of person in respect of income included in the income of another person

S.66 Total income

S.67 Method of computing a partner’s share in the income of the firm

S.67(a) Method of computing a member’s share in the income of association of persons or body of individuals

S.68 Cash credits

S.69 Unexplained investments

S.69(a) Unexplained money, etc.

S.69(b) Amount of investments, etc., not fully disclosed in books of account

S.69(c) Unexplained expenditure etc..

S.69(d) Amount borrowed or repaid on hundi

S.70 Set off of loss from one source against income from another source under the same head of income

S.71 Set off of loss from one head against income from another

S.71(a) Transitional provisions for set off of loss under the head “Income from house property”

S.71(b) Carry forward and set-off of loss from house property

S.72 Carry forward and set off of business losses

S.72(a) Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in amalgamation or demerger, etc.

S.72(a)(a) Provisions relating to carry forward and set-off of accumulated loss and unabsorbed depreciation allowance in scheme of amalgamation of banking company in certain cases

S.72(a)(b) Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in business reorganisation of co-operative banks

S.73 Losses in speculation business

S.74 Losses under the head “Capital gains”

S.74(a) Losses from certain specified sources falling under the head “Income from other sources”

S.75 Losses of firms

S.76 Losses of unregistered firms assessed as registered firms

S.77 Losses of unregistered firms or their partners

S.78 Carry forward and set off of losses in case of change in constitution of firm or on succession

S.79 Carry forward and set off of losses in the case of certain companies

S.80 Submission of return for losses

S.80(a) Deductions to be made in computing total income

S.80(a)(a) [Omitted]

S.80(a)(b) Deductions to be made with reference to the income included in the gross total income

S.80(a)(c) Deduction not to be allowed unless return furnished

S.80(b) Definitions

S.80(c) Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc.

S.80(c)(c) [Omitted]

S.80(c)(c)(a) Deduction in respect of deposits under National Savings Scheme or payment to a deferred annuity plan

S.80(c)(c)(b) Deduction in respect of investment made under Equity Linked Savings Scheme

S.80(c)(c)(c) Deduction in respect of contribution to certain pension funds

S.80(c)(c)(d) Deduction in Respect of Contribution to Pension Scheme of Central Government

S.80(c)(c)(e) Limit on deductions under sections 80C, 80CCC and 80CCD

S.80(c)(c)(f) Deduction in respect of subscription to long-term infrastructure bonds

S.80(c)(c)(g) Deduction in respect of investment made under an equity savings scheme

S.80(d) Deduction in respect of medical insurance premia

S.80(d)(d) Deduction in respect of maintenance including medical treatment of a dependent who is a person with disability

S.80(d)(d)(a) Deduction in respect of deposit made for maintenance of handicapped dependent

S.80(d)(d)(b) Deduction in respect of medical treatment, etc.

S.80(e) Deduction in respect of repayment of loan taken for higher education

S.80(e)(e) Deduction in respect of interest on loan taken for residential house property

S.80(f) [Omitted]

S.80(f)(f) [Omitted]

S.80(g) Deduction in respect of donations to certain funds, charitable institutions, etc.

S.80(g)(g) Deductions in respect of rents paid

S.80(g)(g)(a) Deduction in respect of certain donations for scientific research or rural development

S.80(g)(g)(b) Deduction in respect of contributions given by companies to political parties

S.80(g)(g)(c) Deduction in respect of contributions given by any person to political parties

S.80(h) [Omitted]

S.80(h)(h) Deduction in respect of profits and gains from newly established industrial undertakings or hotel business in backward areas

S.80(h)(h)(a) Deduction in respect of profits and gains from newly established small-scale industrial undertakings in certain areas

S.80(h)(h)(b) Deduction in respect of profits and gains from projects outside India

S.80(h)(h)(b)(a) Deduction in respect of profits and gains from housing projects in certain cases

S.80(h)(h)(c) Deduction in respect of profits retained for export business

S.80(h)(h)(d) Deduction in respect of earnings in convertible foreign exchange

S.80(h)(h)(e) Deduction in respect of profits from export of computer software, etc.

S.80(h)(h)(f) Deduction in respect of profits and gains from export or transfer of film software, etc.

S.80(i) Deduction in respect of profits and gains from industrial undertakings after a certain date, etc.

S.80(i)(a) Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc.

S.80(i)(a)(b) Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone

S.80(i)(b) Deduction in respect of profits and gains from certain industrial undertakings other than infrastructure development undertakings

S.80(i)(c) Special provisions in respect of certain undertakings or enterprises in certain special category States

S.80(i)(d) Deduction in respect of profits and gains from business of hotels and convention centres in specified area

S.80(i)(e) Special provisions in respect of certain undertakings in North-Eastern States

S.80(j) [Omitted]

S.80(j)(j) [Omitted]

S.80(j)(j)(a) Deduction in respect of profits and gains from business of collecting and processing of bio-degradable waste

S.80(j)(j)(a)(a) Deduction in respect of employment of new workmen

S.80(k) [Omitted]

S.80(l) [Omitted]

S.80(l)(a) Deduction in respect of certain incomes of Offshore Banking Units

S.80(m) [Omitted]

S.80(m)(m) [Omitted]

S.80(n) [Omitted]

S.80(o) Deduction in respect of royalties, etc., from certain foreign enterprises

S.80(p) Deduction in respect of income of co-operative societies

S.80(q) Deduction in respect of profits and gains from the business of publication of books

S.80(q)(q) [Omitted]

S.80(q)(q)(a) Deduction in respect of professional income of authors of text books in Indian languages

S.80(q)(q)(b) Deduction in respect of royalty income, etc., of authors of certain books other than text books

S.80(r) Deduction in respect of remuneration from certain foreign sources in the case of professors, teachers, etc.

S.80(r)(r) Deduction in respect of professional income from foreign sources in certain cases

S.80(r)(r)(a) Deduction in respect of remuneration received for services rendered outside India

S.80(r)(r)(b) Deduction in respect of royalty on patents

S.80(s) [Omitted]

S.80(t) [Omitted]

S.80(t)(t) [Omitted]

S.80(t)(t)(a) Deduction in respect of interest on deposits in savings account

S.80(u) Deduction in case of person with disability

S.80(v) [Omitted]

S.80(v)(v) [Omitted]

S.80(v)(v)(a) [Omitted]

S.81 Income of co-operative societies

S.82 Dividends from co-operative society

S.83 Income of marketing society

S.84 Income of newly established industrial undertakings or hotels

S.85 Dividend from new industrial undertaking or hotel business or ship

S.85(a) Deduction of tax on inter-corporate dividends

S.85(b) Deduction of tax on dividends received from certain foreign companies

S.85(c) Deduction of tax on royalties, etc., received from certain foreign companies

S.86 Share of member of an association of persons or body of individuals in the income of the association or body

S.86(a) Deduction from tax on certain securities

S.87 Rebate to be allowed in computing income-tax

S.87(a) Rebate on educational expenses in certain cases

S.88 Rebate on life insurance premia, contribution to provident fund, etc

S.88(a) Rebate in respect of investment in certain new shares or units

S.88(b) Rebate of income-tax in case of individuals of sixty-five years or above

S.88(c) Rebate of income-tax in case of women below sixty-five years

S.88(d) Rebate of income-tax in case of certain individuals

S.88(e) Rebate in respect of securities transaction tax

S.89 Relief when salary, etc., is paid in arrears or in advance

S.89(a) Tax relief in relation to export turnover

S.90 Agreement with foreign countries

S.90(a) Adoption by Central Government of agreement between specified associations for double taxation relief

S.91 Countries with which no agreement exists

S.92 Computation of income from international transaction having regard to arm's length price

S.92(a) Meaning of associated enterprise

S.92(b) Meaning of international transaction

S.92(b)(a) Meaning of specified domestic transaction

S.92(c) Computation of arm's length price.

S.92(c)(a) Reference to Transfer Pricing Officer

S.92(c)(b) Power of Board to make safe harbour rules

S.92(c)(c) Advance pricing agreement

S.92(c)(d) Effect to advance pricing agreement

S.92(d) Maintenance and keeping of information and document by persons entering into an international transaction

S.92(e) Report from an accountant to be furnished by persons entering into international transaction

S.92(f) Definitions of certain terms relevant to computation of arm's length price, etc.

S.93 Avoidance of income-tax by transactions resulting in transfer of income to non-residents

S.94 Avoidance of tax by certain transactions in securities

S.95 Charge of Super-tax

S.96 Total income for Super-tax

S.97 Applicability of Act to Super-tax

S.98 Avoidance of Super-tax

S.99 Income not chargeable to Super-tax

S.100 Donations for charitable purposes

S.101 Newly established industrial undertakings or hotels

S.102 Share from registered Firm

S.103 Relief for salary, etc., received in arrear, etc

S.104 Super-tax on undistributed income of certain companies

S.105 Special provisions for certain companies

S.106 Period of limitation for making orders under section 104

S.107 Approval of Inspecting Assistant Commissioner for orders under section 104

S.108 Savings for company in which public are substantially interested

S.109 “Distributable income”, “investment company” and “statutory percentage” defined

S.110 Determination of tax where total income includes income on which no tax is payable

S.111 Tax on accumulated balance of recognised provident fund

S.111(a) Tax on short-term; capital gains in certain cases

S.112 Tax on long-term capital gains

S.112(a) Tax on interest on National Savings Certificates (First Issue)

S.113 Tax in the case of block assessment of search cases

S.114 Tax on capital gains in cases of assesses other than companies

S.115 [Omitted]

S.115(a) Tax on dividends, royalty and technical service fees in the case of foreign companies

S.115(a)(b) Tax on income from units purchased in foreign currency or capital gains arising from their transfer

S.115(a)(c) Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer

S.115(a)(c)(a) Tax on income from Global depository receipts purchased in foreign currency or capital gains arising from their transfer

S.115(a)(d) Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer

S.115(b) Tax on profits and gains of life insurance business

S.115(b)(b) Tax on winnings from lotteries, crossword puzzles, races including horse races, card games and other games of any sort or gambling or betting of any form or nature whatsoever

S.115(b)(b)(a) Tax on non-resident sportsmen or sports associations

S.115(b)(b)(b) Tax on income from units of an open-ended equity oriented fund of the Unit Trust of India or of Mutual Funds

S.115(b)(b)(c) Anonymous donations to be taxed certain cases

S.115(b)(b)(d) Tax on certain dividends received from foreign companies

S.115(b)(b)(e) Tax on income referred to in section 68 or section 69 or section 69A or section 69B or section 69C or section 69D

S.115(c) Definitions

S.115(d) Special provision for computation of total income of non-residents

S.115(e) Tax on investment income and long-term capital gains

S.115(f) Capital gains on transfer of foreign exchange assets not to be charged in certain cases

S.115(g) Return of income not to be filed in certain cases

S.115(h) Benefit under Chapter to be available in certain cases even after the assessee becomes resident

S.115(i) Chapter not to apply if the assessee so chooses

S.115(j)(a) Deemed income relating to certain companies

S.115(j)(a)(a) Tax credit in respect of tax paid on deemed income relating to certain companies

S.115(j)(b) Special provision for payment of tax by certain companies

S.115(j)(c) Special provisions for payment of tax by certain persons other than a company

S.115(j)(d) Tax credit for alternate minimum tax

S.115(j)(e) Application of other provisions of this Act

S.115(j)(e)(e) Application of this Chapter to certain persons

S.115(j)(f) Interpretation in this Chapter

S.115(j)(g) Conversion of an Indian branch of Foreign Company into subsidiary Indian company

S.115(k) [Omitted]

S.115(l) [Omitted]

S.115(m) [Omitted]

S.115(n) [Omitted]

S.115(o) Tax on distributed profits of domestic companies

S.115(p) Interest payable for non-payment of tax by domestic companies

S.115(q) When company is deemed to be in default

S.115(q)(a) Tax on distributed income to shareholders

S.115(q)(b) Interest payable for non-payment of tax by company

S.115(q)(c) When company is deemed to be assessee in default

S.115(r) Tax on distributed income to unit holders

S.115(s) Interest payable for non-payment of tax

S.115(t) Unit trust of India or mutual fund to be an assessee in default

S.115(t)(a) Tax on distributed income to investors

S.115(t)(b) Interest payable for non-payment of tax

S.115(t)(c) Securitisation trust to be assessee in default

S.115(u) Tax on income in certain cases

S.115(v) Definitions

S.115(v)(a) Computation of profits and gains from the business of operating qualifying ships

S.115(v)(b) Operating ships

S.115(v)(c) Qualifying company

S.115(v)(d) Qualifying ship

S.115(v)(e) Manner of computation of income under tonnage tax scheme

S.115(v)(f) Tonnage income

S.115(v)(g) Computation of tonnage income

S.115(v)(h) Calculation in case of joint operation, etc.

S.115(v)(i) Relevant shipping income

S.115(v)(j) Treatment of common costs

S.115(v)(k) Depreciation

S.115(v)(l) General exclusion of deduction and set off, etc

S.115(v)(m) Exclusion of loss

S.115(v)(n) Chargeable gains from transfer of tonnage tax assets

S.115(v)(o) Exclusion from provisions of section 115JB

S.115(v)(p) Method and time of opting for tonnage tax scheme

S.115(v)(q) Period for which tonnage tax option to remain in force

S.115(v)(r) Renewal of tonnage tax scheme

S.115(v)(s) Prohibition to opt for tonnage tax scheme in certain cases

S.115(v)(t) Transfer of profits to Tonnage Tax Reserve Account

S.115(v)(u) Minimum training requirement for tonnage tax company

S.115(v)(v) Limit for charter in of tonnage

S.115(v)(w) Maintenance and audit of accounts

S.115(v)(x) Determination of tonnage

S.115(v)(y) Amalgamation

S.115(v)(z) Demerger

S.115(v)(z)(a) Effect of temporarily ceasing to operate qualifying ships

S.115(v)(z)(b) Avoidance of tax

S.115(v)(z)(c) Exclusion from tonnage tax scheme

S.115(w) Definitions

S.115(w)(a) Charge of fringe benefit tax

S.115(w)(b) Fringe benefits

S.115(w)(c) Value of fringe benefits

S.115(w)(d) Return of fringe benefits

S.115(w)(e) Assessment

S.115(w)(f) Best judgment assessment

S.115(w)(g) Fringe benefits escaping assessment

S.115(w)(h) Issue of notice where fringe benefits have escaped assessment

S.115(w)(i) Payment of fringe benefit tax

S.115(w)(j) Advance tax in respect of fringe benefits

S.115(w)(k) Interest for default in furnishing return of fringe benefits

S.115(w)(k)(a) Recovery of fringe benefit tax by the employer from the employee

S.115(w)(k)(b) Deemed payment of tax by employee

S.115(w)(l) Application of other provisions of this Act

S.115(w)(m) Chapter XII-H not to apply after a certain date

S.116 Income-tax authorities

S.117 Appointment of income-tax authorities

S.118 Control of income-tax authorities

S.119 Instructions to subordinate authorities

S.120 Jurisdiction of income-tax authorities

S.121 Jurisdiction of Commissioners

S.121(a) Jurisdiction of Commissioners (Appeals)

S.122 Jurisdiction of Appellate Assistant Commissioners

S.123 Jurisdiction of Inspecting Assistant Commissioners

S.124 Jurisdiction of Assessing Officers

S.125 Powers of Commissioner respecting specified areas, cases, persons, etc

S.125(a) Concurrent jurisdiction of Inspecting Assistant Commissioner and Income-tax Officer

S.126 Powers of Board respecting specified area classes of persons or incomes

S.127 Power to transfer cases

S.128 Functions of Inspectors of Income-tax

S.129 Change of incumbent of an office

S.130 Commissioner competent to perform any function or functions

S.130(a) Income-tax Officer competent to perform any function or functions

S.131 Power regarding discovery, production of evidence, etc

S.132 Search and seizure

S.132(a) Power to requisition books of account, etc

S.132(b) Application of seized or requisitioned assets

S.133 Power to call for information

S.133(a) Power of survey

S.133(b) Power to collect certain information

S.134 Power to inspect registers of companies

S.135 Power of 1[Director General or Director], 2[Chief Commissioner or Commissioner] and 3[ Joint Commissioner]

S.136 Proceedings before income-tax authorities to be judicial proceedings

S.137 Disclosure of information prohibited

S.138 Disclosure of information respecting assesses

S.139 Return of income

S.139(a) Permanent account number

S.139(b) Scheme for submission of returns through Tax Return Preparers

S.139(c) Power of Board to dispense with furnishing documents, etc. with the return

S.139(d) Filing of return in electronic form

S.140 Return by whom to be signed

S.140(a) Self-assessment

S.141 Provisional assessment

S.141(a) Provisional assessment for refund

S.142 Enquiry before assessment

S.142(a) Estimate by Valuation Officer in certain cases

S.143 Assessment

S.144 Best judgment assessment

S.144(a) Power of 2[ Joint Commissioner ] to issue directions in certain cases

S.144(b) Reference to Deputy Commissioner in certain cases

S.145 Method of accounting

S.145(a) Method of accounting in certain cases

S.146 Reopening of assessment at the instance of the assessee

S.147 Income escaping assessment

S.148 Issue of notice where income has escaped assessment

S.149 Time limit for notice

S.150 Provision for cases where assessment is in pursuance of an order on appeal, etc

S.151 Sanction for issue of notice

S.152 Other provisions

S.153(a) Assessment in case of search or requisition

S.153(b) Time-limit for completion of assessment under section 153A

S.153(c) Assessment of income of any other person

S.153(d) Prior approval necessary for assessment in cases of search or requisition

S.154 Rectification of mistake

S.155 Other amendments

S.156 Notice of demand

S.157 Intimation of loss

S.158 Intimation of assessment of firm

S.158(a) Procedure when assessee claims identical question of law is pending before High Court or Supreme Court

S.158(b) Definitions

S.158(b)(a) Assessment of undisclosed income as a result of search

S.158(b)(b) Computation of undisclosed income of the block period

S.158(b)(c) Procedure for block assessment

S.158(b)(d) Undisclosed income of any other person

S.158(b)(e) Time limit for completion of block assessment

S.158(b)(f) Certain interests and penalties not to be levied or imposed

S.158(b)(g) Authority competent to make the block assessment

S.158(b)(h) Application of other provisions of this Act

S.159 Legal representatives

S.160 Representative assessee

S.161 Liability of representative assessee

S.162 Right of representative assessee to recover tax paid

S.163 Who may be regarded as agent

S.164 Charge of tax where share of beneficiaries unknown

S.164(a) Charge of tax in case of oral trust

S.165 Case where part of trust income is chargeable

S.166 Direct assessment or recovery not barred

S.167(a) Charge of tax in the case of a firm

S.167(b) Charge of tax where shares of members in association of persons or body of individuals unknown, etc.

S.167(c) Liability of partners of limited liability partnership in liquidation

S.168 Executors

S.169 Right of executor to recover tax paid

S.170 Succession to business otherwise than on death

S.171 Assessment after partition of a Hindu undivided family

S.172 Shipping business of non-residents

S.173 Recovery of tax in respect of non-resident from his assets

S.174 Assessment of persons leaving India

S.174(a) Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose

S.175 Assessment of persons likely to transf er property to avoid tax

S.176 Discontinued business

S.177 Association dissolved or business discontinued

S.178 Company in liquidation

S.179 Liability of directors of private company in liquidation

S.180 Royalties or copyright fees for literary or artistic work

S.180(a) Consideration for know-how

S.181 Interest on tax-free securities of a State Government

S.182 Assessment of registered firms

S.183 Assessment of unregistered firms

S.184 Assessment as a firm

S.185 Assessment when section 184 not complied with

S.186 Cancellation of registration

S.187 Change in constitution of a firm

S.188 Succession of one firm by another firm

S.188(a) Joint and several liability of partners for tax payable by firm

S.189 Firm dissolved or business discontinued

S.189(a) Provisions applicable to past assessments of firms

S.190 Deduction at source and advance payment

S.191 Direct payment

S.192 Salary

S.193 Interest on securities

S.194 Dividends

S.194(a) Interest other than "Interest on securities"

S.194(b) Winnings from lottery or crossword puzzle

S.194(b)(b) Winnings from horse race

S.194(c) Payments to contractors and sub-contractors

S.194(d) Insurance commission

S.194(e) Payments to non-resident sportsmen or sports associations

S.194(e)(e) Payments in respect of deposits under National Savings Scheme, etc.

S.194(f) Payments on account of repurchase of units by Mutual Fund or Unit Trust of India

S.194(g) Commission, etc., on the sale of lottery tickets

S.194(h) Commission or brokerage

S.194(i) Rent

S.194(i)(a) Payment on transfer of certain immovable property other than agricultural land

S.194(j) Fees for professional or technical services

S.194(k) Income in respect of units

S.194(l) Payment of compensation on acquisition of capital asset

S.194(l)(a) Payment of compensation on acquisition of certain immovable property

S.194(l)(a)(a) Payment on transfer of certain immovable property other than agricultural land

S.194(l)(b) Income by way of interest from infrastructure debt fund

S.194(l)(c) Income by way of interest from Indian company engaged in certain business

S.194(l)(d) Income by way of interest on certain bonds and Government securities

S.195 Other sums

S.195(a) Income payable "net of tax"

S.196 Interest or dividend or other sums payable to Government, Reserve Bank or certain corporations

S.196(a) Income in respect of units of non-residents

S.196(b) Income from units

S.196(c) Income from foreign currency bonds or shares of Indian company

S.196(d) Income of Foreign Institutional Investors from securities

S.197 Certificate for deduction at lower rate

S.197(a) No deduction to be made in certain cases

S.198 Tax deducted is income received

S.199 Credit for tax deducted

S.200 Duty of person deducting tax

S.201 Consequences of failure to deduct or pay

S.202 Deduction only one mode of recovery

S.203 Certificate for tax deducted

S.203(a) Tax deduction and collection account number

S.203(a)(a) Furnishing of statement of tax deducted

S.204 Meaning of “person responsible for paying”

S.205 Bar against direct demand on assessee

S.206(a) Furnishing of quarterly return in respect of payment of interest to residents without deduction of tax

S.206(a)(a) Requirement to furnish Permanent Account Number

S.206(b) [Omitted]

S.206(c) Profits and gains from the business of trading in alcoholic liquor, forest produce, scrap, etc.

S.206(c)(a) Tax collection account number

S.207 Liability for payment of advance tax

S.208 Conditions of liability to pay advance tax

S.209 Computation of advance tax

S.209(a) Computation and payment of advance tax by assessee

S.210 Payment of advance tax by the assessee of his own accord or in pursuance of order of Assessing Officer

S.211 Instalments of advance tax and due dates

S.212 Estimate by assessee

S.213 Commission receipts

S.214 Interest payable by Government

S.215 Interest payable by assessee

S.216 Interest payable by assessee in case of underestimate, etc

S.217 Interest payable by assessee when no estimate made

S.218 When assessee deemed to be in default

S.219 Credit for advance tax

S.220 When tax payable and when assessee deemed in default

S.221 Penalty payable when tax in default

S.222 Certificate to Tax Recovery Officer

S.223 Tax Recovery Officer by whom recovery is to be effected

S.224 Validity of certificate and cancellation or amendment thereof

S.225 Stay of proceedings in pursuance of certificate and amendment or cancellation thereof

S.226 Other modes of recovery

S.227 Recovery through State Government

S.228 Recovery of Indian tax in Pakistan and Pakistan tax in India

S.228(a) Recovery of tax in pursuance of agreements with foreign

S.229 Recovery of penalties, fine, interest and other sums

S.230 Tax clearance certificate

S.230(a) Restrictions on registration of transfers of immovable property in certain cases

S.231 Period for commencing recovery proceedings

S.232 Recovery by suitor under other law not affected

S.233 Recovery of tax payable under provisional assessment

S.234 [Omitted]

S.234(a) Interest for defaults in furnishing return of income

S.234(b) Interest for defaults in payment of advance tax

S.234(c) Interest for deferment of advance tax

S.234(d) Interest on excess refund

S.234(g) Levy of fee in certain cases

S.234(e) Fee for defaults in furnishing statements

S.235 Relief to shareholders in respect of agricultural income-tax attributable to dividends

S.236 Relief to company in respect of dividend paid out of past taxed profits

S.236(a) Relief to certain charitable institutions or funds in respect of certain dividends

S.237 Refunds

S.238 Person entitled to claim refund in certain special cases

S.239 Form of claim for refund and limitation

S.240 Refund on appeal, etc

S.241 Power to withhold refund in certain cases

S.242 Correctness of assessment not to be questioned

S.243 Interest on delayed refunds

S.244 Interest on refund where no claim is needed

S.244(a) Interest on refunds

S.245 Set off of refunds against tax remaining payable

S.245(a) Definitions

S.245(b) Income-tax Settlement Commission

S.245(b)(a) Jurisdiction and powers of Settlement Commission

S.245(b)(b) Vice-Chairman to act as Chairman or to discharge his functions in certain circumstances

S.245(b)(c) Power of Chairman to transfer cases from one Bench to another

S.245(b)(d) Decision to be by majority

S.245(b)(e) Application for settlement of cases

S.245(d) Procedure on receipt of an application under section 245C

S.245(d)(d) Power of Settlement Commission to order provisional attachment to protect revenue

S.245(e) Power of Settlement Commission to reopen completed proceedings

S.245(f) Powers and procedure of Settlement Commission

S.245(g) Inspection, etc., of reports

S.245(h) Power of Settlement Commission to grant immunity from prosecution and penalty

S.245(h)(a) Abatement of proceeding before Settlement Commission

S.245(h)(a)(a) Credit for tax paid in case of abatement of proceedings

S.245(i) Order of settlement to be conclusive

S.245(j) Recovery of sums due under order of settlement

S.245(k) Bar on subsequent application for settlement in certain cases

S.245(l) Proceedings before Settlement Commission to be judicial proceedings

S.245(m) [Omitted]

S.245(n) Definitions

S.245(o) Authority for Advance Rulings

S.245(p) Vacancies, etc., not to invalidate proceedings

S.245(q) Application for advance ruling

S.245(r) Procedure on receipt of application

S.245(r)(r) Appellate authority not to proceed in certain cases

S.245(s) Applicability of advance ruling

S.245(s)(t) Advance ruling to be void in certain circumstances

S.245(u) Powers of the Authority

S.245(v) Procedure of Authority

S.246 Appealable orders

S.246(a) Appealable orders before Commissioner (Appeals)

S.247 Appeal by partner

S.248 Appeal by a person denying liability to deduct tax in certain cases

S.249 Form of appeal and limitation

S.250 Procedure in appeal

S.251 Powers of the Commissioner Appeals

S.252 Appellate Tribunal

S.253 Appeals to the Appellate Tribunal

S.254 Orders of Appellate Tribunal

S.255 Procedure of Appellate Tribunal

S.256 Statement of case to the High Court (omitted)

S.257 Statement of case to Supreme Court in certain cases

S.258 Power of High Court or Supreme Court to require statement to be amended (Omitted)

S.259 Case before High Court to be heard by not less than two judges (Omitted)

S.260 Effect to the decision of Supreme Court and of the National Tax Tribunal

S.260(a) Appeal to High Court

S.260(b) Case before High Court to be heard by not less than two Judges

S.261 Appeal to Supreme Court

S.262 Hearing before Supreme Court

S.263 Revision of orders prejudicial to revenue

S.264 Revision of other orders

S.265 Tax to be paid notwithstanding reference, etc

S.266 Execution for costs awarded by Supreme Court

S.267 Amendment of assessment on appeal

S.268 Exclusion of time taken for copy

S.268(a) Filing of appeal or application for references by income-tax authority

S.269 Definition of "High Court"

S.269(a) Definitions

S.269(a)(b) Registration of certain transactions

S.269(b) Competent authority

S.269(c) Immovable property in respect of which proceedings for acquisition may be taken.

S.269(d) Preliminary notice

S.269(e) Objections

S.269(f) Hearing of objections

S.269(g) Appeal against order for acquisition

S.269(h) Appeal to High Court

S.269(i) Vesting of property in Central Government

S.269(j) Compensation

S.269(k) Payment or deposit of compensation

S.269(l) Assistance by Valuation Officers

S.269(m) Powers of competent authority

S.269(n) Rectification of mistakes

S.269(o) Appearance by authorised representative or registered valuer

S.269(p) Statement to be furnished in respect of transfers of immovable property

S.269(q) Chapter not to apply to transfer to relatives

S.269(r) Properties liable for acquisition under this Chapter not to be acquired under other laws

S.269(r)(r) Chapter not to apply where transfer of immovable property made after a certain date

S.269(s) Chapter not to extend to State of Jammu and Kashmir

S.269(s)(s) Mode of taking or accepting certain loans and deposits

S.269(t) Mode of repayment of certain loans or deposits

S.269(t)(t) Mode of repayment of Special Bearer Bonds,1991

S.269(u) Commencement of Chapter

S.269(u)(a) Definitions

S.269(u)(b) Appropriate authority

S.269(u)(c) Restrictions on transfer of immovable property

S.269(u)(d) Order by appropriate authority for purchase by Central Government of immovable property

S.269(u)(e) Vesting of property in Central Government

S.269(u)(f) Consideration for purchase of immovable property by Central Government

S.269(u)(g) Payment or deposit of consideration

S.269(u)(h) Re-vesting of property in the transferor on failure of payment or deposit of consideration

S.269(u)(i) Powers of the appropriate authority

S.269(u)(j) Rectification of mistakes

S.269(u)(k) Restrictions on revocation or alteration of certain agreements for the transfer of immovable property or on transfer of certain immovable property

S.269(u)(l) Restrictions on registration, etc., of documents in respect of transfer of immovable property

S.269(u)(m) Immunity to transferor against claims of transferee for transfer

S.269(u)(n) Order of appropriate authority to be final and conclusive

S.269(u)(o) Chapter not to apply to certain transfers

S.269(u)(p) Chapter not to apply where transfer of immovable property effected after certain date

S.270 Failure to furnish information regarding securities, etc. (Omitted)

S.271 Failure to furnish returns, comply with notices, concealment of income, etc.

S.271(a) Failure to keep, maintain or retain books of account, documents, etc.

S.271(a)(a) Penalty for failure to keep and maintain information and document in respect of international transaction

S.271(a)(a)(a) Penalty where search has been initiated

S.271(a)(a)(b) Penalty where search has been initiated

S.271(b) Failure to get accounts audited

S.271(b)(a) Penalty for failure to furnish report under section 92E

S.271(b)(b) Failure to subscribe to the eligible issue of capital

S.271(c) Penalty for failure to deduct tax at source

S.271(c)(a) Penalty for failure to collect tax at source

S.271(d) Penalty for failure to comply with the provisions of section 269SS

S.271(e) Penalty for failure to comply with the provisions of section 269T

S.271(f) Penalty for failure to furnish return of income

S.271(f)(a) Penalty for failure to furnish annual information return

S.271(f)(b) Penalty for failure to furnish return of fringe benefits

S.271(g) Penalty for failure to furnish information or document under section 92D

S.271(h) Penalty for failure to furnish statements, etc.

S.272 [Omitted]

S.272(a) Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc.

S.272(a)(a) Penalty for failure to comply with the provisions of section 133B

S.272(b) Penalty for failure to comply with the provisions of section 139A

S.272(b)(b) Penalty for failure to comply with the provisions of section 203A

S.272(b)(b)(b) Penalty for failure to comply with the provisions of section 206CA

S.273 False estimate of, or failure to pay, advance tax

S.273(a) Power to reduce or waive penalty, etc., in certain cases

S.273(a)(a) Power of Commissioner of grant immunity from penalty

S.273(b) Penalty not to be imposed in certain cases

S.274 Procedure

S.275 Bar of limitation for imposing penalties

S.275(a) Contravention of order made under sub-section (3) of section 132

S.275(b) Failure to comply with the provisions of clause (iib) of sub-section (1) of section 132

S.276 Removal, concealment, transfer or delivery of property to thwart tax recovery

S.276(a) Failure to comply with the provisions of sub-sections (1) and (3) of section 178

S.276(a)(a) Failure to comply with the provisions of section 269AB or section 269-I(Omitted)

S.276(a)(b) Failure to comply with the provisions of sections 269UC, 269UE and 269UL

S.276(b) Failure to pay tax to the credit of Central Government under Chapter XII-D or XVII-B

S.276(b)(b) Failure to pay the tax collected at source

S.276(c) Wilful attempt to evade tax, etc.

S.276(c)(c) Failure to furnish returns of income

S.276(c)(c)(c) Failure to furnish return of income in search cases

S.276(d) Failure to produce accounts and documents

S.276(d)(d) Failure to comply with the provisions of section 269SS (Omitted)

S.276(e) Failure to comply with the provisions of section 269T (Omitted)

S.277 False statement in verification, etc.

S.277(a) Falsification of books of account or document, etc.

S.278 Abetment of false return, etc.

S.278(a) Punishment for second and subsequent offences

S.278(a)(a) Punishment not to be imposed in certain cases

S.278(a)(b) Power of Commissioner to grant immunity from prosecution

S.278(b) Offences by companies

S.278(c) Offences by Hindu undivided families

S.278(d) Presumption as to assets, books of account, etc., in certain cases

S.278(e) Presumption as to culpable mental state

S.279 Prosecution to be at instance of Chief Commissioner or Commissioner

S.279(a) Certain offences to be non-cognizable

S.279(b) Proof of entries in records or documents

S.280 Disclosure of particulars by public servants

S.280(a) Special Courts

S.280(b) Offences triable by Special Court

S.280(c) Trial of offences as summons case

S.280(d) Application of Code of Criminal Procedure, 1973 to proceedings before Special Court

S.280(e) [Omitted]

S.280(f) [Omitted]

S.280(g) [Omitted]

S.280(h) [Omitted]

S.280(i) [Omitted]

S.280(j) [Omitted]

S.280(k) [Omitted]

S.280(l) [Omitted]

S.280(m) [Omitted]

S.280(n) [Omitted]

S.280(o) [Omitted]

S.280(p) [Omitted]

S.280(q) [Omitted]

S.280(r) [Omitted]

S.280(s) [Omitted]

S.280(t) [Omitted]

S.280(u) [Omitted]

S.280(v) [Omitted]

S.280(w) [Omitted]

S.280(x) [Omitted]

S.280(y) Definitions(Omitted)

S.280(z) Tax credit certificates to certain equity shareholders (Omitted)

S.280(z)(a) [Omitted]

S.280(z)(b) [Omitted]

S.280(z)(c) [Omitted]

S.280(z)(d) [Omitted]

S.280(z)(e) [Omitted]

S.281 Certain transfers to be void

S.281(a) Effect of failure to furnish information in respect of properties held benami

S.281(b) Provisional attachment to protect revenue in certain cases

S.282 Service of notice generally

S.282(a) Authentication of notice and other documents

S.282(b) [Omitted]

S.283 Service of notice when family is disrupted or firm, etc., is dissolved

S.284 Service of notice in the case of discontinued business

S.285 Submission of statement by a non-resident having liaison office

S.285(a) [Omitted]

S.285(b) Submission of statements by producers of cinematograph films

S.285(b)(a) Obligation to furnish annual information return

S.286 [Omitted]

S.287 Publication of information respecting assessees in certain cases

S.287(a) Appearance by registered valuer in certain matters

S.288 Appearance by authorised representative

S.288(a) Rounding off of income

S.288(b) Rounding off of tax, etc.

S.289 Receipt to be given

S.290 Indemnity

S.291 Power to tender immunity from prosecution

S.292 Cognizance of offences

S.292(a) Section 360 of the Code of Criminal Procedure, 1973, and the Probation of Offenders Act, 1958, not to apply

S.292(b) Return of income, etc., not to be invalid on certain grounds

S.292(b)(b) Notice deemed to be valid in certain Circumstance

S.292(c) Presumption as to assets, books of account, etc.

S.292(c)(c) Authorisation and assessment in case of search or requisition

S.293 Bar of suits in civil courts

S.293(a) Power to make exemption, etc., in relation to participation in the business of prospecting for, extraction, etc., of mineral oils

S.293(b) Power of Central Government or Board to condone delays in obtaining approval

S.293(c) Power to withdraw approval

S.294 Act to have effect pending legislative provision for charge of tax

S.294(a) Power to make exemption, etc., in relation to certain Union territories

S.295 Power to make rules

S.296 Rules and certain notifications to be placed before Parliament

S.297 Repeals and savings

S.298 Power to remove difficulties

Sch.1 INSURANCE BUSINESS

Sch.2 PROCEDURE FOR RECOVERY OF TAX

Sch.3 PROCEDURE FOR DISTRAINT BY ASSESSING OFFICER OR TAX RECOVERY OFFICER

Sch.4 RECOGNISED PROVIDENT FUNDS

Sch.5 LIST OF ARTICLES AND THINGS

Sch.6 [OMITTED]

Sch.7 MINERALS

Sch.8 LIST OF INDUSTRIALLY BACKWARD STATES AND UNION TERRITORRIES

Sch.9 [OMITTED]

Sch.10 [OMITTED]

Sch.11 LIST OF ARTICLES OR THINGS

Sch.12 PROCESSED MINERALS AND ORES

Sch.13 LIST OF ARTICLES OR THINGS

Sch.14 LIST OF ARTICLES OR THINGS OR OPERATIONS

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