The Income-tax Act, 1961
The Income-tax Act, 1961 is the legislation that governs the collection, administration, and enforcement of income tax in India.
Summary
The Income-tax Act, 1961 is the legislation that governs the collection, administration, and enforcement of income tax in India. The act provides the legal framework for determining the tax liability of individuals, companies, and other entities. It sets out the various rules and regulations governing the calculation of income, exemptions, deductions, and penalties. The act also establishes the powers of the Central Board of Direct Taxes, which is responsible for administering and enforcing the provisions of the act. The Income-tax Act, 1961 has been amended several times over the years, with the most recent amendment being made in 2021.
Table of Contents
| # | Section | Link |
|---|---|---|
| 1 | Section 1: Short Title, Extent And Commencement | Open |
| 2 | Section 2: Definitions | Open |
| 3 | Section 3: Previous Year Defined | Open |
| 4 | Section 4: Charge Of Income-Tax | Open |
| 5 | Section 5: Scope Of Total Income | Open |
| 6 | Section 5A: Apportionment Of Income Between Spouses Governed By Portuguese Civil Code | Open |
| 7 | Section 6: Residence In India | Open |
| 8 | Section 7: Income Deemed To Be Received | Open |
| 9 | Section 8: Dividend Income | Open |
| 10 | Section 9: Income Deemed To Accrue Or Arise In India | Open |
| 11 | Section 9A: Certain Activities Not To Constitute Business Connection In India | Open |
| 12 | Section 10: Incomes Not Included In Total Income | Open |
| 13 | Section 10A: Special Provision In Respect Of Newly Established Undertakings In Free Trade Zone, Etc | Open |
| 14 | Section 10Aa: Special Provisions In Respect Of Newly Established Units In Special Economic Zones | Open |
| 15 | Section 10B: Special Provisions In Respect Of Newly Established Hundred Per Cent Export-Oriented Undertakings | Open |