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.

Income TaxTax LiabilityExemptionsDeductionsPenaltiesCentral Board Of Direct Taxes

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.

Section 1 : Short title, extent and commencement

Section 2 : Definitions

Section 3 : Previous year defined

Section 4 : Charge of income-tax

Section 5 : Scope of total income

Section 5A : Apportionment of income between spouses governed by Portuguese Civil Code

Section 6 : Residence in India

Section 7 : Income deemed to be received

Section 8 : Dividend income

Section 9 : Income deemed to accrue or arise in India

Section 9A : Certain activities not to constitute business connection in India

Section 10 : Incomes not included in total income

Section 10A : Special provision in respect of newly established undertakings in free trade zone, etc

Section 10AA : Special provisions in respect of newly established Units in Special Economic Zones

Section 10B : Special provisions in respect of newly established hundred per cent export-oriented undertakings

Section 10BA : Special provisions in respect of export of certain articles or things

Section 10BB : Meaning of computer programmes in certain cases

Section 10C : Special provision in respect of certain industrial undertakings in North-Eastern Region

Section 11 : Income from property held for charitable or religious purposes

Section 12 : Income of trusts or institutions from contributions

Section 12A : Conditions for applicability of sections 11 and 12

Section 12AA : Procedure for registration

Section 13 : Section 11 not to apply in certain cases

Section 13A : Special provision relating to incomes of political parties

Section 13B : Special provisions relating to voluntary contributions received by electoral trust

Section 14 : Heads of income

Section 14A : Expenditure incurred in relation to income not includible in total income

Section 15 : Salaries

Section 16 : Deductions from salaries

Section 17 : Salary, perquisite and profits in lieu of salary defined

Section 18 : Omitted

Section 19 : [Omitted]

Section 20 : [Omitted]

Section 21 : [Omitted]

Section 22 : Income from house property

Section 23 : Annual value how determined

Section 24 : Deductions from income from house property

Section 25 : Amounts not deductible from income from house property

Section 25A : Special provision for arrears of rent and unrealised rent received subsequently

Section 26 : Property owned by co-owners

Section 27 : Owner of house property, annual charge, etc, defined

Section 28 : Profits and gains of business or profession

Section 29 : Income from profits and gains of business or profession, how computed

Section 30 : Rent, rates, taxes, repairs and insurance for buildings

Section 31 : Repairs and insurance of machinery, plant and furniture

Section 32 : Depreciation

Section 32A : Investment allowance

Section 32AB : Investment deposit account

Section 32AC : Investment in new plant or machinery

Section 32AD : Investment in new plant or machinery in notified backward areas in certain States

Section 33 : Development rebate

Section 33A : Development allowance

Section 33AB : Tea development account, coffee development account and rubber development account

Section 33ABA : Site Restoration Fund

Section 33AC : Reserves for shipping business

Section 33B : Rehabilitation allowance

Section 34 : Conditions for depreciation allowance and development rebate

Section 34A : Restriction on unabsorbed depreciation and unabsorbed investment allowance for limited period in case of certain domestic companies

Section 35 : Expenditure on scientific research

Section 35A : Expenditure on acquisition of patent rights or copyrights

Section 35AB : Expenditure on know-how

Section 35ABA : Expenditure for obtaining right to use spectrum for telecommunication services

Section 35ABB : Expenditure for obtaining licence to operate telecommunication services

Section 35AC : Expenditure on eligible projects or schemes

Section 35AD : Deduction in respect of expenditure on specified business

Section 35B : [Omitted]

Section 35C : [Omitted]

Section 35CC : [Omitted]

Section 35CCA : Expenditure by way of payment to associations and institutions for carrying out rural development programmes

Section 35CCB : Expenditure by way of payment to associations and institutions for carrying out programmes of conservation of natural resources

Section 35CCC : Expenditure on agricultural extension project

Section 35CCD : Expenditure on skill development project

Section 35D : Amortisation of certain preliminary expenses

Section 35DD : Amortisation of expenditure in case of amalgamation or demerger

Section 35DDA : Amortisation of expenditure incurred under voluntary retirement scheme

Section 35E : Deduction for expenditure on prospecting, etc, for certain minerals

Section 36 : Other deductions

Section 37 : General

Section 38 : Building, etc, partly used for business, etc, or not exclusively so used

Section 39 : [Omitted]

Section 40 : Amounts not deductible

Section 40A : Expenses or payments not deductible in certain circumstances

Section 41 : Profits chargeable to tax

Section 42 : Special provision for deductions in the case of business for prospecting, etc, for mineral oil

Section 43 : Definitions of certain terms relevant to income from profits and gains of business or profession

Section 43A : Special provisions consequential to changes in rate of exchange of currency

Section 43AA : Taxation of foreign exchange fluctuation

Section 43B : Certain deductions to be only on actual payment

Section 43C : Special provision for computation of cost of acquisition of certain assets

Section 43CA : Special provision for full value of consideration for transfer of assets other than capital assets in certain cases

Section 43CB : Computation of income from construction and service contracts

Section 43D : Special provision in case of income of public financial institutions, public companies, etc

Section 44 : Insurance business

Section 44A : Special provision for deduction in the case of trade, professional or similar association

Section 44AA : Maintenance of accounts by certain persons carrying on profession or business

Section 44AB : Audit of accounts of certain persons carrying on business or profession

Section 44AC : [Omitted]

Section 44AD : Special provision for computing profits and gains of business on presumptive basis

Section 44ADA : Special provision for computing profits and gains of profession on presumptive basis

Section 44AE : Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages

Section 44AF : Special provisions for computing profits and gains of retail business

Section 44B : Special provision for computing profits and gains of shipping business in the case of nonresidents

Section 44BB : Special provision for computing profits and gains in connection with the business of exploration, etc, of mineral oils

Section 44BBA : Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents

Section 44BBB : Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc, in certain turnkey power projects

Section 44C : Deduction of head office expenditure in the case of non-residents

Section 44D : Special provisions for computing income by way of royalties, etc, in the case of foreign companies

Section 44DA : Special provision for computing income by way of royalties, etc, in the case of non- residents

Section 44DB : Special provision for computing deductions in the case of business reorganisation of co-operative banks

Section 45 : Capital gains

Section 46 : Capital gains on distribution of assets by companies in liquidation

Section 46A : Capital gains on purchase by company of its own shares or other specified securities

Section 47 : Transactions not regarded as transfer

Section 47A : Withdrawal of exemption in certain cases

Section 48 : Mode of computation

Section 49 : Cost with reference to certain modes of acquisition

Section 50 : Special provision for computation of capital gains in case of depreciable assets

Section 50A : Special provision for cost of acquisition in case of depreciable asset

Section 50B : Special provision for computation of capital gains in case of slump sale

Section 50C : Special provision for full value of consideration in certain cases

Section 50CA : Special provision for full value of consideration for transfer of share other than quoted share

Section 50D : Fair market value deemed to be full value of consideration in certain cases

Section 51 : Advance money received

Section 52 : [Omitted]

Section 53 : [Omitted]

Section 54 : Profit on sale of property used for residence

Section 54A : [Omitted]

Section 54B : Capital gain on transfer of land used for agricultural purposes not to be charged in certain cases

Section 54C : [Omitted]

Section 54D : Capital gain on compulsory acquisition of lands and buildings not to be charged in certain cases

Section 54E : Capital gain on transfer of capital assets not to be charged in certain cases

Section 54EA : Capital gain on transfer of long-term capital assets not to be charged in the case of investment in specified securities

Section 54EB : Capital gain on transfer of long-term capital assets not to be charged in certain cases

Section 54EC : Capital gain not to be charged on investment in certain bonds

Section 54ED : Capital gain on transfer of certain listed securities or unit not to be charged in certain cases

Section 54EE : Capital gain not to be charged on investment in units of a specified fund

Section 54F : Capital gain on transfer of certain capital assets not to be charged in case of investment in residential house

Section 54G : Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area

Section 54GA : Exemption capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone

Section 54GB : Capital gain on transfer of residential property not to be charged in certain cases

Section 54H : Extension of time for acquiring new asset or depositing or investing amount of capital gain

Section 55 : Meaning of adjusted, cost of improvement and cost of acquisition

Section 55A : Reference to Valuation Officer

Section 56 : Income from other sources

Section 57 : Deductions

Section 58 : Amounts not deductible

Section 59 : Profits chargeable to tax

Section 60 : Transfer of income where there is no transfer of assets

Section 61 : Revocable transfer of assets

Section 62 : Transfer irrevocable for a specified period

Section 63 : Transfer and revocable transfer defined

Section 64 : Income of individual to include income of spouse, minor child, etc

Section 65 : Liability of person in respect of income included in the income of another person

Section 66 : Total income

Section 67 : [Omitted]

Section 67A : Method of computing a members share in income of association of persons or body of individuals

Section 68 : Cash credits

Section 69 : Unexplained investments

Section 69A : Unexplained money, etc

Section 69B : Amount of investments, etc, not fully disclosed in books of account

Section 69C : Unexplained expenditure, etc

Section 69D : Amount borrowed or repaid on hundi

Section 70 : Set off of loss from one source against income from another source under the same head of income

Section 71 : Set off of loss from one head against income from another

Section 71A : Transitional provisions for set off of loss under the head Income from house property

Section 71B : Carry forward and set off of loss from house property

Section 72 : Carry forward and set off of business losses

Section 72A : Provisions relating to carry forward and set-off of accumulated loss and unabsorbed depreciation allowance in amalgamation or demerger, etc

Section 72AA : 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

Section 72AB : Provisions relating to carry forward and set-off of accumulated loss and unabsorbed depreciation allowance in business reorganisation of co-operative banks

Section 73 : Losses in speculation business

Section 73A : Carry forward and set off of losses by specified business

Section 74 : Losses under the head Capital gains

Section 74A : Losses from certain specified sources falling under the head Income from other sources

Section 75 : Losses of firms

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

Section 79 : Carry forward and set off of losses in case of certain companies

Section 80 : Submission of return for losses

Section 80A : Deductions to be made in computing total income

Section 80AA : [Omitted]

Section 80AB : Deductions to be made with reference to the income included in the gross total income

Section 80AC : Deduction not to be allowed unless return furnished

Section 80B : Definitions

Section 80C : Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc

Section 80CC : [Omitted]

Section 80CCA : Deduction in respect of deposits under National Savings Scheme or payment to a deferred annuity plan

Section 80CCB : Deduction in respect of investment made under Equity Linked Savings Scheme

Section 80CCC : Deduction in respect of contribution to certain pension funds

Section 80CCD : Deduction in respect of contribution to pension scheme of Central Government

Section 80CCE : Limit on deductions under sections 80C, 80CCC and 80CCD

Section 80CCF : Deduction in respect of subscription to long-term infrastructure bonds

Section 80CCG : Deduction in respect of investment made under an equity savings scheme

Section 80D : Deduction in respect of health insurance premia

Section 80DD : Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability

Section 80DDB : Deduction in respect of medical treatment, etc

Section 80E : Deduction in respect of interest on loan taken for higher education

Section 80EE : Deduction in respect of interest on loan taken for residential house property

Section 80F : [Omitted]

Section 80FF : [Omitted]

Section 80G : Deduction in respect of donations to certain funds, charitable institutions, etc

Section 80GG : Deductions in respect of rents paid

Section 80GGA : Deduction in respect of certain donations for scientific research or rural development

Section 80GGB : Deduction in respect of contributions given by companies to political parties

Section 80GGC : Deduction in respect of contributions given by any person to political parties

Section 80H : Omitted

Section 80HH : Deduction in respect of profits and gains from newly established industrial undertakings or hotel business in backward areas

Section 80HHA : Deduction in respect of profits and gains from newly established small-scale industrial undertakings in certain areas

Section 80HHB : Deduction in respect of profits and gains from projects outside India

Section 80HHBA : Deduction in respect of profits and gains from housing projects in certain cases

Section 80HHC : Deduction in respect of profits retained for export business

Section 80HHD : Deduction in respect of earnings in convertible foreign exchange

Section 80HHE : Deduction in respect of profits from export of computer software, etc

Section 80HHF : Deduction in respect of profits and gains from export or transfer of film software, etc

Section 80-I : Deduction in respect of profits and gains from industrial undertakings after a certain date, etc

Section 80-IA : Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc

Section 80-IAB : Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone

Section 80-IAC : Special provision in respect of specified business

Section 80-IB : Deduction in respect of profits and gains from certain industrial undertakings other than infrastructure development undertakings

Section 80-IBA : Deductions in respect of profits and gains from housing projects

Section 80-IC : Special provisions in respect of certain undertakings or enterprises in certain special category States

Section 80-ID : Deduction in respect of profits and gains from business of hotels and convention centres in specified area

Section 80-IE : Special provisions in respect of certain undertakings in North-Eastern States

Section 80J : Omitted

Section 80JJ : [Omitted]

Section 80JJA : Deduction in respect of profits and gains from business of collecting and processing of bio-degradable waste

Section 80JJAA : Deduction in respect of employment of new workmen

Section 80K : [Omitted]

Section 80L : [Omitted]

Section 80LA : Deductions in respect of certain incomes of Offshore Banking Units and International Financial Services Centre

Section 80M : [Omitted]

Section 80MM : [Omitted]

Section 80N : [Omitted]

Section 80-O : Deduction in respect of royalties, etc, from certain foreign enterprises

Section 80P : Deduction in respect of income of co-operative societies

Section 80PA : Deduction in respect of certain income of Producer Companies

Section 80Q : Deduction in respect of profits and gains from the business of publication of books

Section 80QQ : [Omitted]

Section 80QQA : Deduction in respect of professional income of authors of text books in Indian languages

Section 80QQB : Deduction in respect of royalty income, etc, of authors of certain books other than text-books

Section 80R : Deduction in respect of remuneration from certain foreign sources in the case of professors, teachers, etc

Section 80RR : Deduction in respect of professional income from foreign sources in certain cases

Section 80RRA : Deduction in respect of remuneration received for services rendered outside India

Section 80RRB : Deduction in respect of royalty on patents

Section 80S : [Omitted]

Section 80T : [Omitted]

Section 80TT : [Omitted]

Section 80TTA : Deduction in respect of interest on deposits in savings account

Section 80TTB : Deduction in respect of interest on deposits in case of senior citizens

Section 80U : Deduction in case of a person with disability

Section 80V : [Omitted]

Section 80VV : [Omitted]

Section 80VVA : [Omitted]

Section 81 : [Omitted]

Section 82 : [Omitted]

Section 83 : [Omitted]

Section 84 : [Omitted]

Section 85 : [Omitted]

Section 85A : [Omitted]

Section 85B : [Omitted]

Section 85C : [Omitted]

Section 86 : Share of member of an association of persons or body of individuals in the income of the association or body

Section 86A : [Omitted]

Section 87 : Rebate to be allowed in computing income-tax

Section 87A : Rebate of income-tax in case of certain individuals

Section 88 : Rebate on life insurance premia, contribution to provident fund, etc

Section 88A : [Omitted]

Section 88B : [Omitted]

Section 88C : [Omitted]

Section 88D : [Omitted]

Section 88E : Rebate in respect of securities transaction tax

Section 89 : Relief when salary, etc, is paid in arrears or in advance

Section 89A : [Omitted]

Section 90 : Agreement with foreign countries or specified territories

Section 90A : Adoption by Central Government of agreement between specified associations for double taxation relief

Section 91 : Countries with which no agreement exists

Section 92 : Computation of income from international transaction having regard to arms length price

Section 92A : Meaning of associated enterprise

Section 92B : Meaning of international transaction

Section 92BA : Meaning of specified domestic transaction

Section 92C : Computation of arms length price

Section 92CA : Reference to Transfer Pricing Officer

Section 92CB : Power of Board to make safe harbour rules

Section 92CC : Advance pricing agreement

Section 92CD : Effect to advance pricing agreement

Section 92CE : Secondary adjustment in certain cases

Section 92D : Maintenance and keeping of information and document by persons entering into an international transaction or specified domestic transaction

Section 92E : Report from an accountant to be furnished by persons entering into international transaction or specified domestic transaction

Section 92F : Definitions of certain terms relevant to computation of arm's length price, etc

Section 93 : Avoidance of income-tax by transactions resulting in transfer of income to non- residents

Section 94 : Avoidance of tax by certain transactions in securities

Section 94A : Special measures in respect of transactions with persons located in notified jurisdictional area

Section 94B : Limitation on interest deduction in certain cases

Section 95 : Applicability of General Anti-Avoidance Rule

Section 96 : Impermissible avoidance arrangement

Section 97 : Arrangement to lack commercial substance

Section 98 : Consequences of impermissible avoidance arrangement

Section 99 : Treatment of connected person and accommodating party

Section 100 : Application of this Chapter

Section 101 : Framing of guidelines

Section 102 : Definitions

Section 103 : [Omitted]

Section 104 : [Omitted]

Section 105 : [Omitted]

Section 106 : [Omitted]

Section 107 : [Omitted]

Section 107A : [Omitted]

Section 108 : [Omitted]

Section 109 : [Omitted]

Section 110 : Determination of tax where total income includes income on which no tax is payable

Section 111 : Tax on accumulated balance of recognised provident fund

Section 111A : Tax on short-term capital gains in certain cases

Section 112 : Tax on long-term capital gains

Section 112A : Tax on long-term capital gains in certain cases

Section 113 : Tax in the case of block assessment of search cases

Section 114 : [Omitted]

Section 115 : [Omitted]

Section 115A : Tax on dividends, royalty and technical service fees in the case of foreign Companies

Section 115AB : Tax on income from units purchased in foreign currency or capital gains arising from their transfer

Section 115AC : Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer

Section 115ACA : Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer

Section 115AD : Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer

Section 115B : Tax on profits and gains of life insurance business

Section 115BA : Tax on income of certain domestic companies

Section 115BB : 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

Section 115BBA : Tax on non-resident sportsmen or sports associations

Section 115BBB : Tax on income from units of an open-ended equity oriented fund of the Unit Trust of India or of Mutual Funds

Section 115BBC : Anonymous donations to be taxed in certain cases

Section 115BBD : Tax on certain dividends received from foreign companies

Section 115BBDA : Tax on certain dividends received from domestic companies

Section 115BBE : Tax on income referred to in section 68 or section 69 or section 69A or section 69B or section 69C or section 69D

Section 115BBF : Tax on income from patent

Section 115BBG : Tax on income from transfer of carbon credits

Section 115C : Definitions

Section 115D : Special provision for computation of total income of non-residents

Section 115E : Tax on investment income and long-term capital gains

Section 115F : Capital gains on transfer of foreign exchange assets not to be charged in certain cases

Section 115G : Return of income not to be filed in certain cases

Section 115H : Benefit under Chapter to be available in certain cases even after the assessee become resident

Section 115-I : Chapter not to apply if the assessee so chooses

Section 115J : Special provisions relating to certain companies

Section 115JA : Deemed income relating to certain companies

Section 115JAA : Tax credit in respect of tax paid on deemed income relating to certain companies

Section 115JB : Special provision for payment of tax by certain companies

Section 115JC : Special provisions for payment of tax by certain persons other than a company

Section 115JD : Tax credit for alternate minimum tax

Section 115JE : Application of other provisions of this Act

Section 115JEE : Application of this Chapter to certain persons

Section 115JF : Interpretation in this Chapter

Section 115JG : Conversion of an Indian branch of foreign company into subsidiary Indian company

Section 115JH : Foreign company said to be resident in india

Section 115K : [Omitted]

Section 115L : [Omitted]

Section 115M : [Omitted]

Section 115N : [Omitted]

Section 115-O : Tax on distributed profits of domestic companies

Section 115P : Interest payable for non-payment of tax by domestic companies

Section 115Q : When company is deemed to be in default

Section 115QA : Tax on distributed income to shareholders

Section 115QB : Interest payable for non-payment of tax by company

Section 115QC : When company is deemed to be assessee in default

Section 115R : Tax on distributed income to unit holders

Section 115S : Interest payable for non-payment of tax

Section 115T : Unit trust of India or mutual fund to be an assessee in default

Section 115TA : Tax on distributed income to investors

Section 115TB : Interest payable for non-payment of tax

Section 115TC : Securitisation trust to be assessee in default

Section 115TCA : Tax on income from securitization trusts

Section 115TD : Tax on accreted income

Section 115TE : Interest payable for non-payment of tax by trust or institution

Section 115TF : When trust or institution is deemed to be assessee in default

Section 115U : Tax on income in certain cases

Section 115UA : Tax on income of unit holder and business trust

Section 115UB : Tax on income of investment fund and its unit holders

Section 115V : Definitions

Section 115VA : Computation of profits and gains from the business of operating qualifying ships

Section 115VB : Operating ships

Section 115VC : Qualifying company

Section 115VD : Qualifying ship

Section 115VE : Manner of computation of income under tonnage tax scheme

Section 115VF : Tonnage income

Section 115VG : Computation of tonnage income

Section 115VH : Calculation in case of joint operation, etc

Section 115V-I : Relevant shipping income

Section 115VJ : Treatment of common costs

Section 115VK : Depreciation

Section 115VL : General exclusion of deduction and set off, etc

Section 115VM : Exclusion of loss

Section 115VN : Chargeable gains from transfer of tonnage tax assets

Section 115V-O : Exclusion from provisions of section 115JB

Section 115VP : Method and time of opting for tonnage tax scheme

Section 115VQ : Period for which tonnage tax option to remain in force

Section 115VR : Renewal of tonnage tax scheme

Section 115VS : Prohibition to opt for tonnage tax scheme in certain cases

Section 115VT : Transfer of profits to Tonnage Tax Reserve Account

Section 115VU : Minimum training requirement for tonnage tax company

Section 115VV : Limit for charter in of tonnage

Section 115VW : Maintenance and audit of accounts

Section 115VX : Determination of tonnage

Section 115VY : Amalgamation

Section 115VZ : Demerger

Section 115VZA : Effect of temporarily ceasing to operate qualifying ships

Section 115VZB : Avoidance of tax

Section 115VZC : Exclusion from tonnage tax scheme

Section 115W : Definitions

Section 115WA : Charge of fringe benefit tax

Section 115WB : Fringe benefits

Section 115WC : Value of fringe benefits

Section 115WD : Return of fringe benefits

Section 115WE : Assessment

Section 115WF : Best judgment assessment

Section 115WG : Fringe benefits escaping assessment

Section 115WH : Issue of notice where fringe benefits have escaped assessment

Section 115WI : Payment of fringe benefit tax

Section 115WJ : Advance tax in respect of fringe benefits

Section 115WK : Interest for default in furnishing return of fringe benefits

Section 115WKA : Recovery of fringe benefit tax by the employer from the employee

Section 115WKB : Deemed payment of tax by employee

Section 115WL : Application of other provisions of this Act

Section 115WM : Chapter XII-H not to apply after a certain date

Section 116 : Income-tax authorities

Section 117 : Appointment of income-tax authorities

Section 118 : Control of income-tax authorities

Section 119 : Instructions to subordinate authorities

Section 120 : Jurisdiction of income-tax authorities

Section 121 : [Omitted]

Section 121A : [Omitted]

Section 122 : [Omitted]

Section 123 : [Omitted]

Section 124 : Jurisdiction of Assessing Officers

Section 125 : [Omitted]

Section 125A : [Omitted]

Section 126 : [Omitted]

Section 127 : Power to transfer cases

Section 128 : [Omitted]

Section 129 : Change of incumbent of an office

Section 130 : [Omitted]

Section 130A : [Omitted]

Section 131 : Power regarding discovery, production of evidence, etc

Section 132 : Search and seizure

Section 132A : Powers to requisition books of account, etc

Section 132B : Application of seized or requisitioned assets

Section 133 : Power to call for information

Section 133A : Power of survey

Section 133B : Power to collect certain information

Section 133C : Power to call for information by prescribed income-tax authority

Section 134 : Power to inspect registers of companies

Section 135 : Power of Principal Director General or Director General or Principal Director or Director, Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner and Joint Commissioner

Section 136 : Proceedings before income-tax authorities to be judicial proceedings

Section 137 : Omitted

Section 138 : Disclosure of information respecting assessees

Section 139 : Return of income

Section 139A : Permanent account number

Section 139AA : Quoting of Aadhaar number

Section 139B : Scheme for submission of returns through Tax Return Preparers

Section 139C : Power of Board to dispense with furnishing documents, etc, with return

Section 139D : Filing of return in electronic form

Section 140 : Return by whom to be verified

Section 140A : Self-assessment

Section 141 : [Omitted]

Section 141A : [Omitted]

Section 142 : Inquiry before assessment

Section 142A : Estimation of value of assets by Valuation Officer

Section 143 : Assessment

Section 144 : Best judgment assessment

Section 144A : Power of Joint Commissioner to issue directions in certain cases

Section 144B : [Omitted]

Section 144BA : Reference to Principal Commissioner or Commissioner in certain cases

Section 144C : Reference to dispute resolution panel

Section 145 : Method of accounting

Section 145A : Method of accounting in certain cases

Section 146 : [Omitted]

Section 147 : Income escaping assessment

Section 148 : Issue of notice where income has escaped assessment

Section 149 : Time limit for notice

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

Section 151 : Sanction for issue of notice

Section 152 : Other provisions

Section 153 : Time limit for completion of assessments, reassessments and recomputation

Section 153A : Assessment in case of search or requisition

Section 153B : Time-limit for completion of assessment under section 153A

Section 153C : Assessment of income of any other person

Section 153D : Prior approval necessary for assessment in cases of search or requisition

Section 154 : Rectification of mistake

Section 155 : Other amendments

Section 156 : Notice of demand

Section 157 : Intimation of loss

Section 158 : Intimation of assessment of firm

Section 158A : Procedure when assessee claims identical question of law is pending before High Court or Supreme Court

Section 158AA : Procedure when in an appeal by revenue an identical question of law is pending before Supreme Court

Section 158B : Definitions

Section 158BA : Assessment of undisclosed income as a result of search

Section 158BB : Computation of undisclosed income of the block period

Section 158BC : Procedure for block assessment

Section 158BD : Undisclosed income of any other person

Section 158BE : Time limit for completion of block assessment

Section 158BF : Certain interests and penalties not to be levied or imposed

Section 158BFA : Levy of interest and penalty in certain cases

Section 158BG : Authority competent to make the block assessment

Section 158BH : Application of other provisions of this Act

Section 158BI : Chapter not to apply after certain date

Section 159 : Legal representatives

Section 160 : Representative assessee

Section 161 : Liability of representative assessee

Section 162 : Right of representative assessee to recover tax paid

Section 163 : Who may be regarded as agent

Section 164 : Charge of tax where share of beneficiaries unknown

Section 164A : Charge of tax in case of oral trust

Section 165 : Case where part of trust income is chargeable

Section 166 : Direct assessment or recovery not barred

Section 167 : Remedies against property in cases of representative assessees

Section 167A : Charge of tax in the case of a firm

Section 167B : Charge of tax where shares of members in association of persons or body of individuals unknown, etc

Section 167C : Liability of partners of limited liability partnership in liquidation

Section 168 : Executors

Section 169 : Right of executor to recover tax paid

Section 170 : Succession to business otherwise than on death

Section 171 : Assessment after partition of a Hindu undivided family

Section 172 : Shipping business of non-residents

Section 173 : Recovery of tax in respect of non-resident from his assets

Section 174 : Assessment of persons leaving India

Section 174A : Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose

Section 175 : Assessment of persons likely to transfer property to avoid tax

Section 176 : Discontinued business

Section 177 : Association dissolved or business discontinued

Section 178 : Company in liquidation

Section 179 : Liability of directors of private company in liquidation

Section 180 : Royalties or copyright fees for literary or artistic work

Section 180A : Consideration for know-how

Section 181 : Omitted

Section 182 : Omitted

Section 183 : [Omitted]

Section 184 : Assessment as a firm

Section 185 : Assessment when section 184 not complied with

Section 187 : Change in constitution of a firm

Section 188 : Succession of one firm by another firm

Section 188A : Joint and several liability of partners for tax payable by firm

Section 189 : Firm dissolved or business discontinued

Section 189A : Provisions applicable to past assessments of firms

Section 190 : Deduction at source and advance payment

Section 191 : Direct payment

Section 192 : Salary

Section 192A : Payment of accumulated balance due to an employee

Section 193 : Interest on securities

Section 194 : Dividends

Section 194A : Interest other than ''Interest on securities''

Section 194B : Winnings from lottery or crossword puzzle

Section 194BB : Winnings from horse race

Section 194C : Payments to contractors

Section 194D : Insurance commission

Section 194DA : Payment in respect of life insurance policy

Section 194E : Payments to non-resident sportsmen or sports associations

Section 194EE : Payments in respect of deposits under National Savings Scheme, etc

Section 194F : Payments on account of repurchase of units by Mutual Fund or Unit Trust of India

Section 194G : Commission, etc, on the sale of lottery tickets

Section 194H : Commission or brokerage

Section 194-I : Rent

Section 194-IA : Payment on transfer of certain immovable property other than agricultural land

Section 194-IB : Payment of rent by certain individuals or Hindu undivided family

Section 194-IC : Payment under specified agreement

Section 194J : Fees for professional or technical services

Section 194K : [Omitted]

Section 194L : [Omitted]

Section 194LA : Payment of compensation on acquisition of certain immovable property

Section 194LB : Income by way of interest from infrastructure debt fund

Section 194LBA : Certain income from units of a business trust

Section 194LBB : Income in respect of units of investment fund

Section 194LBC : Income in respect of investment in securitization trust

Section 194LC : Income by way of interest from Indian company

Section 194LD : Income by way of interest on certain bonds and Government securities

Section 195 : Other sums

Section 195A : Income payable net of tax

Section 196 : Interest or dividend or other sums payable to Government, Reserve Bank or certain Corporations

Section 196A : Income in respect of units of non-residents

Section 196B : Income from units

Section 196C : Income from foreign currency bonds or shares of Indian company

Section 196D : Income of Foreign Institutional Investors from securities

Section 197 : Certificate for deduction at lower rate

Section 197A : No deduction to be made in certain cases

Section 198 : Tax deducted is income received

Section 199 : Credit for tax deducted

Section 200 : Duty of person deducting tax

Section 200A : Processing of statements of tax deducted at source

Section 201 : Consequences of failure to deduct or pay

Section 202 : Deduction only one mode of recovery

Section 203 : Certificate for tax deducted

Section 203A : Tax deduction and collection account number

Section 203AA : Furnishing of statement of tax deducted

Section 204 : Meaning of ―person responsible for paying‖

Section 205 : Bar against direct demand on assessee

Section 206 : Persons deducting tax to furnish prescribed returns

Section 206A : Furnishing of quarterly return in respect of payment of interest to residents without deduction of tax

Section 206AA : Requirement to furnish Permanent Account Number

Section 206B : [Omitted]

Section 206C : Profits and gains from the business of trading in alcoholic liquor, forest produce, scrap, etc

Section 206CA : Tax collection account number

Section 206CB : Processing of statements of tax collected at source

Section 206CC : Requirement to furnish Permanent Account Number by collectee

Section 207 : Liability for payment of advance tax

Section 208 : Conditions of liability to pay advance tax

Section 209 : Computation of advance tax

Section 209A : [Omitted]

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

Section 211 : Instalments of advance tax and due dates

Section 212 : [Omitted]

Section 213 : [Omitted]

Section 214 : Interest payable by Government

Section 215 : Interest payable by assessee

Section 216 : Interest payable by assessee in case of under-estimate, etc

Section 217 : Interest payable by assessee when no estimate made

Section 218 : When assessee deemed to be in default

Section 219 : Credit for advance tax

Section 220 : When tax payable and when assessee deemed in default

Section 221 : Penalty payable when tax in default

Section 222 : Certificate to Tax Recovery Officer

Section 223 : Tax Recovery Officer by whom recovery is to be effected

Section 224 : Validity of certificate and cancellation or amendment thereof

Section 225 : Stay of proceedings in pursuance of certificate and amendment or cancellation thereof

Section 226 : Other modes of recovery

Section 227 : Recovery through State Government

Section 228 : [Omitted]

Section 228A : Recovery of tax in pursuance of agreements with foreign countries

Section 229 : Recovery of penalties, fine, interest and other sums

Section 230 : Tax clearance certificate

Section 230A : [Omitted]

Section 231 : [Omitted]

Section 232 : Recovery by suit or under other law not affected

Section 233 : Omitted

Section 234 : [Omitted]

Section 234A : Interest for defaults in furnishing return of income

Section 234B : Interest for defaults in payment of advance tax

Section 234C : Interest for deferment of advance tax

Section 234D : Interest on excess refund

Section 234E : Fee for default in furnishing statements

Section 234F : Fee for default in furnishing return of income

Section 235 : [Omitted]

Section 236 : Relief to company in respect of dividend paid out of past taxed profits

Section 236A : Relief to certain charitable institutions or funds in respect of certain dividends

Section 237 : Refunds

Section 238 : Person entitled to claim refund in certain special cases

Section 239 : Form of claim for refund and limitation

Section 240 : Refund on appeal, etc

Section 241 : [Omitted]

Section 241A : Withholding of refund in certain cases

Section 242 : Correctness of assessment not to be questioned

Section 243 : Interest on delayed refunds

Section 244 : Interest on refund where no claim is needed

Section 244A : Interest on refunds

Section 245 : Set off of refunds against tax remaining payable

Section 245A : Definitions

Section 245B : Income-tax Settlement Commission

Section 245BA : Jurisdiction and powers of Settlement Commission

Section 245BB : Vice-Chairman to act as Chairman or to discharge his functions in certain circumstances

Section 245BC : Power of Chairman to transfer cases from one Bench to another

Section 245BD : Decision to be by majority

Section 245C : Application for settlement of cases

Section 245D : Procedure on receipt of an application under section 245C

Section 245DD : Power of Settlement Commission to order provisional attachment to protect revenue

Section 245E : Power of Settlement Commission to reopen completed proceedings

Section 245F : Powers and procedure of Settlement Commission

Section 245G : Inspection, etc, of reports

Section 245H : Power of Settlement Commission to grant immunity from prosecution and penalty

Section 245HA : Abatement of proceeding before Settlement Commission

Section 245HAA : Credit for tax paid in case of abatement of proceedings

Section 245-I : Order of settlement to be conclusive

Section 245J : Recovery of sums due under order of settlement

Section 245K : Bar on subsequent application for settlement

Section 245L : Proceedings before Settlement Commission to be judicial proceedings

Section 245M : [Omitted]

Section 245N : Definitions

Section 245-O : Authority for Advance Rulings

Section 245P : Vacancies, etc, not to invalidate proceedings

Section 245Q : Application for advance ruling

Section 245R : Procedure on receipt of application

Section 245RR : Appellate authority not to proceed in certain cases

Section 245S : Applicability of advance ruling

Section 245T : Advance ruling to be void in certain circumstances

Section 245U : Powers of the Authority

Section 245V : Procedure of Authority

Section 246 : Appealable orders

Section 246A : Appealable orders before Commissioner (Appeals)

Section 247 : [Omitted]

Section 248 : Appeal by a person denying liability to deduct tax in certain cases

Section 249 : Form of appeal and limitation

Section 250 : Procedure in appeal

Section 251 : Powers of the Commissioner (Appeals)

Section 252 : Appellate Tribunal

Section 252A : Qualifications, terms and conditions of service of President, Vice-President and Member

Section 253 : Appeals to the Appellate Tribunal

Section 254 : Orders of Appellate Tribunal

Section 255 : Procedure of Appellate Tribunal

Section 256 : Statement of case to the High Court

Section 257 : Statement of case to Supreme Court in certain cases

Section 258 : Power of High Court or Supreme Court to require statement to be amended

Section 259 : Case before High Court to be heard by not less than two judges

Section 260 : Decision of High Court or Supreme Court on the case stated

Section 260A : Appeal to High Court

Section 260B : Case before High Court to be heard by not less than two Judges

Section 261 : Appeal to Supreme Court

Section 262 : Hearing before Supreme Court

Section 263 : Revision of orders prejudicial to revenue

Section 264 : Revision of other orders

Section 265 : Tax to be paid notwithstanding reference, etc

Section 266 : Execution for costs awarded by Supreme Court

Section 267 : Amendment of assessment on appeal

Section 268 : Exclusion of time taken for copy

Section 268A : Filing of appeal or application for reference by income-tax authority

Section 269 : Definition of ―High Court‖

Section 269A : Definitions

Section 269AB : Registration of certain transactions

Section 269B : Competent authority

Section 269C : Immovable property in respect of which proceedings for acquisition may be taken

Section 269D : Preliminary notice

Section 269E : Objections

Section 269F : Hearing of objections

Section 269G : Appeal against order for acquisition

Section 269H : Appeal to High Court

Section 269I : Vesting of property in Central Government

Section 269J : Compensation

Section 269K : Payment or deposit of compensation

Section 269L : Assistance by Valuation Officers

Section 269M : Powers of competent authority

Section 269N : Rectification of mistakes

Section 269-O : Appearance by authorised representative or registered valuer

Section 269P : Statement to be furnished in respect of transfers of immovable property

Section 269Q : Chapter not to apply to transfers to relatives

Section 269R : Properties liable for acquisition under this Chapter not to be acquired under other laws

Section 269RR : Chapter not to apply where transfer of immovable property made after a certain date

Section 269S : Chapter not to extend to State of Jammu and Kashmir

Section 269SS : Mode of taking or accepting certain loans, deposits and specified sum

Section 269ST : Mode of undertaking transactions

Section 269T : Mode of repayment of certain loans or deposits

Section 269TT : Mode of repayment of Special Bearer Bonds, 1991

Section 269U : Commencement of Chapter

Section 269UA : Definitions

Section 269UB : Appropriate authority

Section 269UC : Restrictions on transfer of immovable property

Section 269UD : Order by appropriate authority for purchase by Central Government of immovable property

Section 269UE : Vesting of property in Central Government

Section 269UF : Consideration for purchase of immovable property by Central Government

Section 269UG : Payment or deposit of consideration

Section 269UH : Re-vesting of property in the transferor on failure of payment or deposit of consideration

Section 269UI : Powers of the appropriate authority

Section 269UJ : Rectification of mistakes

Section 269UK : Restrictions on revocation or alteration of certain agreements for the transfer of immovable property or on transfer of certain immovable property

Section 269UL : Restrictions on registration, etc, of documents in respect of transfer of immovable property

Section 269UM : Immunity to transferor against claims of transferee for transfer

Section 269UN : Order of appropriate authority to be final and conclusive

Section 269UO : Chapter not to apply to certain transfers

Section 269UP : Chapter not to apply where transfer of immovable property effected after certain date

Section 270 : [Omitted]

Section 270A : Penalty for under reporting and misreporting of income

Section 270AA : Immunity from imposition of penalty, etc

Section 271 : Failure to furnish returns, comply with notices, concealment of income, etc

Section 271A : Failure to keep, maintain or retain books of account, documents, etc

Section 271AA : Penalty for failure to keep and maintain information and document, etc, in respect of certain transactions

Section 271AAA : Penalty where search has been initiated

Section 271AAB : Penalty where search has been initiated

Section 271AAC : Penalty in respect of certain income

Section 271B : Failure to get accounts audited

Section 271BA : Penalty for failure to furnish report under section 92E

Section 271BB : Failure to subscribe to the eligible issue of capital

Section 271C : Penalty for failure to deduct tax at source

Section 271CA : Penalty for failure to collect tax at source

Section 271D : Penalty for failure to comply with the provisions of section 269SS

Section 271DA : Penalty for failiure to comply with provisions of section 269ST

Section 271E : Penalty for failure to comply with the provisions of section 269T

Section 271F : Penalty for failure to furnish return of income

Section 271FA : Penalty for failure to furnish statement of financial transaction or reportable income

Section 271FAA : Penalty for furnishing inaccurate statement of financial transaction or reportable account

Section 271FAB : Penalty for failure to furnishing statement or information or document by an eligible investment fund

Section 271FB : Penalty for failure to furnish return of fringe benefits

Section 271G : Penalty for failure to furnish information or document under section 92D

Section 271GA : Penalty for failure to furnish information or document under section 285A

Section 271GB : Penalty for failure to furnish report or for furnishing inaccurate report under section 286

Section 271H : Penalty for failure to furnish statements, etc

Section 271-I : Penalty for failure to furnish information or furnishing inaccurate information under section 195

Section 271J : Penalty for furnishing incorrect information in reports or certificates

Section 272 : [Omitted]

Section 272A : Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc

Section 272AA : Penalty for failure to comply with the provisions of section 133B

Section 272B : Penalty for failure to comply with the provisions of section 139A

Section 272BB : Penalty for failure to comply with the provisions of section 203A

Section 272BBB : Penalty for failure to comply with the provisions of section 206CA

Section 273 : False estimate of, or failure to pay, advance tax

Section 273A : Power to reduce or waive penalty, etc, in certain cases

Section 273AA : Power of Principal Commissioner or Commissioner to grant immunity from penalty

Section 273B : Penalty not to be imposed in certain cases

Section 274 : Procedure

Section 275 : Bar of limitation for imposing penalties

Section 275A : Contravention of order made under sub-section (3) of section 132

Section 275B : Failure to comply with the provisions of clause (iib) of sub-section (1) of section 132

Section 276 : Removal, concealment, transfer or delivery of property to thwart tax recovery

Section 276A : Failure to comply with the provisions of sub-sections (1) and (3) of section 178

Section 276AA : [Omitted]

Section 276AB : Failure to comply with the provisions of sections 269UC, 269UE and 269UL

Section 276B : Failure to pay tax to the credit of Central Government under Chapter XII-D or XVII-B

Section 276BB : Failure to pay the tax collected at source

Section 276C : Wilful attempt to evade tax, etc

Section 276CC : Failure to furnish returns of income

Section 276CCC : Failure to furnish return of income in search cases

Section 276D : Failure to produce accounts and documents

Section 276DD : [Omitted]

Section 276E : [Omitted]

Section 277 : False statement in verification, etc

Section 277A : Falsification of books of account or document, etc

Section 278 : Abetment of false return, etc

Section 278A : Punishment for second and subsequent offences

Section 278AA : Punishment not to be imposed in certain cases

Section 278AB : Power of Principal Commissioner or Commissioner to grant immunity from prosecution

Section 278B : Offences by companies

Section 278C : Offences by Hindu undivided families

Section 278D : Presumption as to assets, books of account, etc, in certain cases

Section 278E : Presumption as to culpable mental state

Section 279 : Prosecution to be at instance of Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner

Section 279A : Certain offences to be non-cognizable

Section 279B : Proof of entries in records or documents

Section 280 : Disclosure of particulars by public servants

Section 280A : Special Courts

Section 280B : Offences triable by Special Court

Section 280C : Trial of offences as summons case

Section 280D : Application of Code of Criminal Procedure, 1973 to proceedings before Special Court

Section 280E : [Omitted]

Section 280F : [Omitted]

Section 280G : [Omitted]

Section 280H : [Omitted]

Section 280J : [Omitted]

Section 280K : [Omitted]

Section 280L : [Omitted]

Section 280M : [Omitted]

Section 280N : [Omitted]

Section 280P : [Omitted]

Section 280Q : [Omitted]

Section 280R : [Omitted]

Section 280S : [Omitted]

Section 280T : [Omitted]

Section 280U : [Omitted]

Section 280V : [Omitted]

Section 280W : [Omitted]

Section 280X : [Omitted]

Section 280Y : [Omitted]

Section 280Z : [Omitted]

Section 280ZA : [Omitted]

Section 280ZB : [Omitted]

Section 280ZC : [Omitted]

Section 280ZD : [Omitted]

Section 280ZE : [Omitted]

Section 281 : Certain transfers to be void

Section 281A : [Repealed]

Section 281B : Provisional attachment to protect revenue in certain cases

Section 282 : Service of notice generally

Section 282A : Authentication of notices and other documents

Section 282B : [Omitted]

Section 283 : Service of notice when family is disrupted or firm, etc, is dissolved

Section 284 : Service of notice in the case of discontinued business

Section 285 : Submission of statement by a non-resident having liaison office

Section 285A : Furnishing of information or documents by an Indian concern in certain cases

Section 285B : Submission of statements by producers of cinematograph films

Section 285BA : Obligation to furnish statement of financial transaction or reportable account

Section 286 : Furnishing of report in respect of international group

Section 287 : Publication of information respecting assessees in certain cases

Section 287A : Appearance by registered valuer in certain matters

Section 288 : Appearance by authorised representative

Section 288A : Rounding off of income

Section 288B : Rounding off amount payable and refund due

Section 289 : Receipt to be given

Section 290 : Indemnity

Section 291 : Power to tender immunity from prosecution

Section 292 : Cognizance of offences

Section 292A : Section 360 of the Code of Criminal Procedure, 1973, and the Probation of Offenders Act, 1958, not to apply

Section 292B : Return of income, etc, not to be invalid on certain grounds

Section 292BB : Notice deemed to be valid in certain circumstances

Section 292C : Presumption as to assets, books of account, etc

Section 292CC : Authorisation and assessment in case of search or requisition

Section 293 : Bar of suits in civil courts

Section 293A : Power to make exemption, etc, in relation to participation in the business of prospecting for, extraction, etc, of mineral oils

Section 293B : Power of Central Government or Board to condone delays in obtaining approval

Section 293C : Power to withdraw approval

Section 294 : Act to have effect pending legislative provision for charge of tax

Section 294A : Power to make exemption, etc, in relation to certain Union territories

Section 295 : Power to make rules

Section 296 : Rules and certain notifications to be placed before Parliament

Section 297 : Repeals and savings

Section 298 : Power to remove difficulties

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