Income-tax Act, 1961

No. Section - 001 Section - 002 Part A Title Short title, extent and commencement Definitions [Clause (1) to Clause (15)] - "Advance Tax" to "Charitable Purpose" Definitions [Clause (15A) to Clause (30)] - "Chief Commissioner" to "Non-resident" Definitions [Clause (31) to Clause (48)] - "Person" to "Zero Coupon Bond" Previous year defined Charge of income-tax Scope of total income Apportionment of income between spouses governed by Portuguese Civil Code Residence in India Income deemed to be received Dividend income Income deemed to accrue or arise in India

Section - 002 Part B

Section - 002 Part C

Section - 003 Section - 004 Section - 005 Section - 005A

Section - 006 Section - 007 Section - 008 Section - 009 Section - 010 Part A

Incomes not included in total income [Clause (1) to Clause (10D)

Section - 010 Part B Section - 010 Part C

Incomes not included in total income [Clause (11) to Clause (17) Incomes not included in total income [Clause (17A) to Clause (23C)] Incomes not included in total income [Clause (23D) to Clause (44)] Special provision in respect of newly established undertakings in free trade zone, etc.

Section - 010 Part D

Section - 010A

Section - 010AA

Special provisions in respect of newly established Units in Special Economic Zones. Special provisions in respect of newly established hundred per cent export-oriented undertakings

Section - 010B

Section - 010BA Section - 010BB Section - 010C

Special provisions in respect of export of certain articles or things Meaning of computer programmes in certain cases. Special provision in respect of certain industrial undertakings in North- Eastern Region. Income from property held for charitable or religious purposes. Income of trusts or institutions from contributions Conditions for applicability of sections 11 and 12 Procedure for registration Section 11 not to apply in certain cases

Section - 011 Section - 012 Section - 012A Section - 012AA Section - 013

Section - 013A Section - 013B

Special provision relating to incomes of political parties Special provisions relating to voluntary contributions received by electoral trust Heads of income Expenditure incurred in relation to income not includible in total income Salaries Deductions from salaries Salary, perquisite and profits in lieu of salary defined Omitted Omitted Omitted Omitted Income from house property Annual value how determined Deductions from income from house property Amounts not deductible from income from house property Special provision for cases where unrealised rent allowed as

Section - 014 Section - 014A

Section - 015 Section - 016 Section - 017 Section - 018 Section - 019 Section - 020 Section - 021 Section - 022 Section - 023 Section - 024 Section - 025 Section - 025A

deduction is realised subsequently Section - 025AA Unrealised rent received subsequently to be charged to incometax Special provision for arrears of rent received Property owned by co-owners Owner of house property, annual charge, etc., defined Profits and gains of business or profession Income from profits and gains of business or profession, how computed Rent, rates, taxes, repairs and insurance for buildings Repairs and insurance of machinery, plant and furniture Depreciation Investment allowance Investment deposit account Development rebate Development allowance Tea development account [,coffee development account and rubber development account

Section - 025B Section - 026 Section - 027 Section - 028 Section - 029

Section - 030 Section - 031 Section - 032 Section - 032A Section - 032AB Section - 033 Section - 033A Section - 033AB

Section - 033ABA Section - 033AC Section - 033B Section - 034 Section - 034A

Site Restoration Fund Reserves for shipping business Rehabilitation allowance Conditions for depreciation allowance and development rebate

Restriction on unabsorbed depreciation and unabsorbed investment allowance for limited period in case of certain domest companies Expenditure on scientific research Expenditure on acquisition of patent rights or copyrights Expenditure on know-how Expenditure for obtaining licence to operate telecommunication services Expenditure on eligible projects or schemes Deduction in respect of expenditure on specified business. Export markets development allowance Agricultural development allowance Rural development allowance

Section - 035 Section - 035A Section - 035AB Section - 035ABB

Section - 035AC Section - 035AD Section - 035B Section - 035C Section - 035CC Section - 035CCA

Expenditure by way of payment to associations and institutions fo carrying out rural development programmes

Section - 035CCB

Expenditure by way of payment to associations and institutions fo carrying out programmes of conservation of natural resources Amortisation of certain preliminary expenses

Section - 035D Section - 035DD Section - 035DDA

Amortisation of expenditure in case of amalgamation or demerge Amortisation of expenditure incurred under voluntary retirement scheme Deduction for expenditure on prospecting, etc., for certain minerals Other deductions General

Section - 035E

Section - 036 Section - 037 Section - 038

Building, etc., partly used for business, etc., or not exclusively so used Managing agency commission Amounts not deductible Expenses or payments not deductible in certain circumstances Profits chargeable to tax Special provision for deductions in the case of business for prospecting, etc., for mineral oil Definitions of certain terms relevant to income from profits and gains of business or profession

Section - 039 Section - 040 Section - 040A Section - 041 Section - 042

Section - 043

Section - 043A

Special provisions consequential to changes in rate of exchange o currency Certain deductions to be only on actual payment Special provision for computation of cost of acquisition of certain assets

Section - 043B Section - 043C

Section - 043D

Special provision in case of income of public financial institutions, public companies, etc. Insurance business

Section - 044 Section - 044A

Special provision for deduction in the case of trade, professional o similar association

Section - 044AA

Maintenance of accounts by certain persons carrying on professio or business Audit of accounts of certain persons carrying on business or profession Special provision for computing profits and gains from the business of trading in certain goods Special provision for computing profits and gains of business on presumptive basis. Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages Special provisions for computing profits and gains of retail business

Section - 044AB

Section - 044AC

Section - 044AD

Section - 044AE

Section - 044AF

Section - 044B

Special provision for computing profits and gains of shipping business in the case of non-residents Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects

Section - 044BB

Section - 044BBA

Section - 044BBB

Section - 044C Section - 044D

Deduction of head office expenditure in the case of non-residents

Special provisions for computing income by way of royalties, etc., in the case of foreign companies Special provision for computing income by way of royalties, etc., in case of non-residents

Section - 044DA

Section - 044DB

Special provision for computing deductions in the case of busines reorganization of co-operative banks Capital gains

Section - 045 Section - 046 Section - 046A

Capital gains on distribution of assets by companies in liquidation Capital gains on purchase by company of its own shares or other specified securities Transactions not regarded as transfer Withdrawal of exemption in certain cases

Section - 047 Section - 047A

Section - 048 Section - 049 Section - 050

Mode of computation Cost with reference to certain modes of acquisition Special provision for computation of capital gains in case of depreciable assets Special provision for cost of acquisition in case of depreciable asset

Section - 050A

Section - 050B

Special provision for computation of capital gains in case of slump sale Special provision for full value of consideration in certain cases Advance money received Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 Exemption of capital gains from a residential house Profit on sale of property used for residence Relief of tax on capital gains in certain cases

Section - 050C Section - 051 Section - 052 Section - 053 Section - 054 Section - 054A Section - 054B

Capital gain on transfer of land used for agricultural purposes not to be charged in certain cases Capital gain on transfer of jewellery held for personal use not to be charged in certain cases Capital gain on compulsory acquisition of lands and buildings not to be charged in certain cases

Section - 054C

Section - 054D

Section - 054E

Capital gain on transfer of capital assets not to be charged in certain cases Capital gain on transfer of long-term capital assets not to be charged in the case of investment in [specified securities Capital gain on transfer of long-term capital assets not to be charged in certain cases Capital gain not to be charged on investment in certain bonds

Section - 054EA

Section - 054EB

Section - 054EC Section - 054ED

Capital gain on transfer of certain listed securities or unit not to b charged in certain cases

Section - 054F

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

Section - 054G

Exemption of capital gains on transfer of assets in cases of shiftin of industrial undertaking from urban area

Section - 054GA

Exemption of capital gains on transfer of assets in cases of shiftin of industrial undertaking from urban area to any Special Economi Zone Extension of time for acquiring new asset or depositing or investing amount of capital gain

Section - 054H

Section - 055 Section - 055A Section - 056 Section - 057

Meaning of adjusted, cost of improvement and cost of acquisition Reference to Valuation Officer Income from other sources Deductions

Section - 058 Section - 059 Section - 060 Section - 061 Section - 062 Section - 063 Section - 064 Section - 065

Amounts not deductible Profits chargeable to tax Transfer of income where there is no transfer of assets Revocable transfer of assets Transfer irrevocable for a specified period Transfer and revocable transfer defined

Income of individual to include income of spouse, minor child, etc Liability of person in respect of income included in the income of another person Total income Method of computing a partners share in the income of the firm

Section - 066 Section - 067 Section - 067A

Method of computing a members share in income of association o persons or body of individuals Cash credits Unexplained investments Unexplained money, etc. Amount of investments, etc., not fully disclosed in books of account

Section - 068 Section - 069 Section - 069A Section - 069B

Section - 069C Section - 069D Section - 070

Unexplained expenditure, etc. Amount borrowed or repaid on hundi Set off of loss from one source against income from another source under the same head of income Set off of loss from one head against income from another Transitional provisions for set off of loss under the head Income from house property Carry forward and set off of loss from house property Carry forward and set off of business losses

Section - 071 Section - 071A

Section - 071B Section - 072 Section - 072A

Provisions relating to carry forward and set off of accumulated los and unabsorbed depreciation allowance in amalgamation or demerger, etc. 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 - 072AA

Section - 072AB

Provisions relating to carry forward and set off of accumulated los and unabsorbed depreciation allowance in business reorganisation of co-operative banks Losses in speculation business Carry forward and set off losses by specified business Losses under the head Capital gains

Section - 073 Section - 073A Section - 074

Section - 074A

Losses from certain specified sources falling under the head Income from other sources Losses of firms OMITTED BY THE FINANCE ACT, 1992, W.E.F. 1-4-1993 OMITTED BY THE FINANCE ACT, 1992, W.E.F. 1-4-1993 Carry forward and set off of losses in case of change in constitution of firm or on succession Carry forward and set off of losses in the case of certain companies Submission of return for losses Deductions to be made in computing total income Computation of deduction under section 80M Deductions to be made with reference to the income included in the gross total income Deduction not to be allowed unless return furnished Definitions Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc. Deduction in respect of investment in certain new shares

Section - 075 Section - 076 Section - 077 Section - 078

Section - 079

Section - 080 Section - 080A Section - 080AA Section - 080AB

Section - 080AC Section - 080B Section - 080C

Section - 080CC

Section - 080CCA

Deduction in respect of deposits under National Savings Scheme or payment to a deferred annuity plan Deduction in respect of investment made under Equity Linked Savings Scheme Deduction in respect of contribution to certain pension funds

Section - 080CCB

Section - 080CCC Section - 080CCD

Deduction in respect of contribution to pension scheme of Central Government Limit on deductions under sections 80C, 80CCC and 80CCD Deduction in respect of subscription to long-term infrastructure bonds. Deduction in respect of medical insurance premia

Section - 080CCE Section - 080CCF

Section - 080D Section - 080DD

Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability Deduction in respect of medical treatment, etc.

Section - 080DDB Section - 080E Section - 080F Section - 080FF

Deduction in respect of interest on loan taken for higher educatio Deduction in respect of educational expenses in certain cases Deduction in respect of expenses on higher education in certain cases Deduction in respect of donations to certain funds, charitable institutions, etc. Deductions in respect of rents paid

Section - 080G

Section - 080GG

Section - 080GGA

Deduction in respect of certain donations for scientific research or rural development Deduction in respect of contributions given by companies to political parties or an electoral trust Deduction in respect of contributions given by any person to political parties Deduction in case of new industrial undertakings employing displaced persons, etc. Deduction in respect of profits and gains from newly established industrial undertakings or hotel business in backward areas Deduction in respect of profits and gains from newly established small-scale industrial undertakings in certain areas Deduction in respect of profits and gains from projects outside India

Section - 080GGB

Section - 080GGC

Section - 080H

Section - 080HH

Section - 080HHA

Section - 080HHB

Section - 080HHBA

Deduction in respect of profits and gains from housing projects in certain cases Deduction in respect of profits retained for export business Deduction in respect of earnings in convertible foreign exchange

Section - 080HHC Section - 080HHD Section - 080HHE

Deduction in respect of profits from export of computer software, etc.

Section - 080HHF

Deduction in respect of profits and gains from export or transfer o film software, etc.

Section - 080I

Deduction in respect of profits and gains from industrial undertakings after a certain date, etc. Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc. Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone

Section - 080IA

Section - 080IAB

Section - 080IB

Deduction in respect of profits and gains from certain industrial undertakings other than infrastructure development undertakings

Section - 080IC

Special provisions in respect of certain undertakings or enterprise in certain special category States Deduction in respect of profits and gains from business of hotels and convention centres in specified area Special provisions in respect of certain undertakings in NorthEastern States

Section - 080ID

Section - 080IE

Section - 080J

Deduction in respect of profits and gains from newly established industrial undertakings or ships or hotel business in certain cases

Section - 080JJ

Deduction in respect of profits and gains from business of poultry farming Deduction in respect of profits and gains from business of collecting and processing of bio-degradable waste Deduction in respect of employment of new workmen

Section - 080JJA

Section - 080JJAA Section - 080K

Deduction in respect of dividends attributable to profits and gains from new industrial undertakings or ships or hotel business

Section - 080L

Deductions in respect of interest on certain securities, dividends, etc.

Section - 080LA

Deductions in respect of certain incomes of Offshore Banking Unit and International Financial Services Centre Deduction in respect of certain inter-corporate dividends

Section - 080M Section - 080MM

Deduction in the case of an Indian company in respect of royaltie etc., received from any concern in India Deduction in respect of dividends received from certain foreign companies Deduction in respect of royalties, etc., from certain foreign enterprises Deduction in respect of income of co-operative societies Deduction in respect of profits and gains from the business of publication of books Deduction in respect of profits and gains from the business of publication of books Deduction in respect of professional income of authors of text books in Indian languages

Section - 080N

Section - 080O

Section - 080P Section - 080Q

Section - 080QQ

Section - 080QQA

Section - 080QQB

Deduction in respect of royalty income, etc., of authors of certain books other than text-books

Section - 080R

Deduction in respect of remuneration from certain foreign source in the case of professors, teachers, etc.

Section - 080RR

Deduction in respect of professional income from foreign sources in certain cases Deduction in respect of remuneration received for services rendered outside India Deduction in respect of royalty on patents

Section - 080RRA

Section - 080RRB Section - 080S

Deduction in respect of compensation for termination of managin agency, etc., in the case of assessees other than companies Deduction in respect of long-term capital gains in the case of assessees other than companies Deduction in respect of winnings from lottery Deduction in case of a person with disability Deduction from gross total income of the parent in certain cases Deduction in respect of expenses incurred in connection with certain proceedings under the Act RESTRICTION ON CERTAIN DEDUCTIONS IN THE CASE OF COMPANIES

Section - 080T

Section - 080TT Section - 080U Section - 080V Section - 080VV

Section - 080VVA

Section - 081 To 085C Omitted by the Finance (No. 2) Act, 1967, w.e.f. 1-4-1968 Section - 086 Share of member of an association of persons or body of individuals in the income of the association or body Deduction from tax on certain securities Rebate to be allowed in computing income-tax

Section - 086A Section - 087

Section - 087A Section - 088

Rebate on educational expenses in certain cases Rebate on life insurance premia, contribution to provident fund, etc. Rebate in respect of investment in certain new shares or units Rebate of income-tax in case of individuals of sixty-five years or above Rebate of income-tax in case of women below sixty-five years Rebate of income-tax in case of certain individuals Rebate in respect of securities transaction tax Relief when salary, etc., is paid in arrears or in advance Tax relief in relation to export turnover Agreement with foreign countries or specified territories

Section - 088A Section - 088B

Section - 088C Section - 088D Section - 088E Section - 089 Section - 089A Section - 090 Section - 090A

Adoption by Central Government of agreements between specifie associations for double taxation relief Countries with which no agreement exists Computation of income from international transaction having regard to arms length price Meaning of associated enterprise

Section - 091 Section - 092

Section - 092A

Section - 092B Section - 092C Section - 092CA Section - 092CB Section - 092D

Meaning of international transaction Computation of arms length price Reference to Transfer Pricing Officer Power of Board to make safe harbour rules

Maintenance and keeping of information and document by person entering into an international transaction Report from an accountant to be furnished by persons entering into international transaction

Section - 092E

Section - 092F

Definitions of certain terms relevant to computation of arms lengt price, etc Avoidance of income-tax by transactions resulting in transfer of income to non-residents Avoidance of tax by certain transactions in securities Special measures in respect of transactions with persons located in notified jurisdictional area. omitted by the Finance Act, 1965, w.e.f. 1-4-1965 Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 Approval of Inspecting Assistant Commissioner for orders under

Section - 093

Section - 094 Section - 094A

Section - 095 to 103 Section - 104 Section - 105 Section - 106 Section - 107

section 104 Section - 107A Section - 108 Section - 109 Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 Distributable income, investment company and statutory percentage defined

Section - 110

Determination of tax where total income includes income on whic no tax is payable Tax on accumulated balance of recognised provident fund Tax on short term capital gains in certain cases Tax on long-term capital gains Omitted by the Finance Act, 1988, w.e.f. 1-4-1989 Tax in the case of block assessment of search cases Tax on capital gains in cases of assessees other than companies Tax on capital gains in case of companies

Section - 111 Section - 111A Section - 112 Section - 112A Section - 113 Section - 114 Section - 115 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 capita gains arising from their transfer Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their

Section - 115AC

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 o capital gains arising from their transfer Tax on profits and gains of life insurance business

Section - 115B 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 Tax on non-resident sportsmen or sports associations Tax on income from units of an open-ended equity oriented fund of the Unit Trust of India or of Mutual Funds Anonymous donations to be taxed in certain cases Tax on certain dividends received from foreign companies Definitions

Section - 115BBA Section - 115BBB

Section - 115BBC Section - 115BBD Section - 115C Section - 115D Section - 115E Section - 115F

Special provision for computation of total income of non-residents Tax on investment income and long-term capital gains Capital gains on transfer of foreign exchange assets not to be charged in certain cases Return of income not to be filed in certain cases

Section - 115G

Section - 115H

Benefit under Chapter to be available in certain cases even after the assessee becomes resident Chapter not to apply if the assessee so chooses Special provisions relating to certain companies Deemed income relating to certain companies Tax credit in respect of tax paid on deemed income relating to certain companies Special provision for payment of tax by certain companies Special provisions for payment of tax by certain limited liability partnerships. Tax credit for alternate minimum tax Application of other provisions of this Act. Interpretation in this Chapter Special provision for computation of income in certain cases Return of income not to be filed in certain cases Special provision for disallowance of deductions and rebate of income-tax Bar of proceedings in certain cases Tax on distributed profits of domestic companies

Section - 115I Section - 115J Section - 115JA Section - 115JAA

Section - 115JB Section - 115JC

Section - 115JD Section - 115JE Section - 115JF Section - 115K Section - 115L Section - 115M

Section - 115N Section - 115O

Section - 115P Section - 115Q Section - 115R Section - 115S Section - 115T Section - 115U Section - 115V Section - 115VA

Interest payable for non-payment of tax by domestic companies When company is deemed to be in default Tax on distributed income to unit holders Interest payable for non-payment of tax Unit trust of India or mutual fund to be an assessee in default Tax on income in certain cases Definitions Computation of profits and gains from the business of operating qualifying ships Operating ships Qualifying company Qualifying ship Manner of computation of income under tonnage tax scheme Tonnage income Computation of tonnage income Calculation in case of joint operation, etc. Relevant shipping income

Section - 115VB Section - 115VC Section - 115VD Section - 115VE Section - 115VF Section - 115VG Section - 115VH Section - 115VI

Section - 115VJ Section - 115VK Section - 115VL Section - 115VM Section - 115VN Section - 115VO Section - 115VP Section - 115VQ Section - 115VR Section - 115VS Section - 115VT Section - 115VU Section - 115VV Section - 115VW Section - 115VX Section - 115VY

Treatment of common costs Depreciation General exclusion of deduction and set off, etc. Exclusion of loss Chargeable gains from transfer of tonnage tax assets Exclusion from provisions of section 115JB Method and time of opting for tonnage tax scheme Period for which tonnage tax option to remain in force Renewal of tonnage tax scheme Prohibition to opt for tonnage tax scheme in certain cases Transfer of profits to Tonnage Tax Reserve Account Minimum training requirement for tonnage tax company Limit for charter in of tonnage Maintenance and audit of accounts Determination of tonnage Amalgamation

Section - 115VZ Section - 115VZA Section - 115VZB Section - 115VZC Section - 115W Section - 115WA Section - 115WB Section - 115WC Section - 115WD Section - 115WE Section - 115WF Section - 115WG Section - 115WH Section - 115WI Section - 115WJ Section - 115WK

Demerger Effect of temporarily ceasing to operate qualifying ships Avoidance of tax Exclusion from tonnage tax scheme Definitions Charge of fringe benefit tax Fringe benefits Value of fringe benefits Return of fringe benefits Assessment Best judgment assessment Fringe benefits escaping assessment Issue of notice where fringe benefits have escaped assessment Payment of fringe benefit tax Advance tax in respect of fringe benefits Interest for default in furnishing return of fringe benefits

Section - 115WKA Section - 115WKB Section - 115WL Section - 115WM Section - 116 Section - 117 Section - 118 Section - 119 Section - 120 Section - 121 Section - 121A Section - 122 Section - 123 Section - 124 Section - 125

Recovery of fringe benefit tax by the employer from the employee Deemed payment of tax by employee. Application of other provisions of this Act Chapter XII-H not to apply after a certain date Income-tax authorities Appointment of income-tax authorities Control of income-tax authorities Instructions to subordinate authorities Jurisdiction of income-tax authorities Jurisdiction of Commissioners Jurisdiction of Commissioners (Appeals) Jurisdiction of Appellate Assistant Commissioners Jurisdiction of Inspecting Assistant Commissioners Jurisdiction of Assessing Officers Powers of Commissioner respecting specified areas, cases, persons, etc.

Section - 125A

Concurrent jurisdiction of Inspecting Assistant Commissioner and

Income-tax Officer Section - 126 Powers of Board respecting specified area, classes of persons or incomes Power to transfer cases Functions of Inspectors of Income-tax Change of incumbent of an office Commissioner competent to perform any function or functions

Section - 127 Section - 128 Section - 129 Section - 130 Section - 130A Section - 131 Section - 132 Section - 132A Section - 132B Section - 133 Section - 133A Section - 133B Section - 134 Section - 135

Income-tax Officer competent to perform any function or function Power regarding discovery, production of evidence, etc. Search and seizure Powers to requisition books of account, etc. Application of seized or requisitioned assets Power to call for information Power of survey Power to collect certain information Power to inspect registers of companies Power of [Director General or Director], [Chief Commissioner or Commissioner] and [Joint Commissioner]

Section - 136

Proceedings before income-tax authorities to be judicial proceedings Disclosure of information prohibited Disclosure of information respecting assessees Return of income Permanent account number Scheme for submission of returns through Tax Return Preparers

Section - 137 Section - 138 Section - 139 Section - 139A Section - 139B Section - 139C

Power of Board to dispense with furnishing documents, etc., with the return Filing of return in electronic form Return by whom to be signed Self-assessment Provisional assessment Provisional assessment for refund Inquiry before assessment Estimate by Valuation Officer in certain cases Assessment

Section - 139D Section - 140 Section - 140A Section - 141 Section - 141A Section - 142 Section - 142A Section - 143

Section - 144 Section - 144A Section - 144B Section - 144C Section - 145 Section - 145A Section - 146 Section - 147 Section - 148 Section - 149 Section - 150

Best judgment assessment

Power of [Joint Commissioner] to issue directions in certain cases Reference to Deputy Commissioner in certain cases Reference to Dispute Resolution Panel Method of accounting Method of accounting in certain cases Reopening of assessment at the instance of the assessee Income escaping assessment Issue of notice where income has escaped assessment Time limit for notice

Provision for cases where assessment is in pursuance of an order on appeal, etc. Sanction for issue of notice Other provisions Time limit for completion of assessments and reassessments Assessment in case of search or requisition Time-limit for completion of assessment under section 153A

Section - 151 Section - 152 Section - 153 Section - 153A Section - 153B

Section - 153C Section - 153D

Assessment of income of any other person Prior approval necessary for assessment in cases of search or requisition Rectification of mistake Other amendments Notice of demand Intimation of loss Intimation of assessment of firm Procedure when assessee claims identical question of law is pending before High Court or Supreme Court Definitions Assessment of undisclosed income as a result of search Computation of undisclosed income of the block period Procedure for block assessment Undisclosed income of any other person Time limit for completion of block assessment Certain interests and penalties not to be levied or imposed Levy of interest and penalty in certain cases

Section - 154 Section - 155 Section - 156 Section - 157 Section - 158 Section - 158A

Section - 158B Section - 158BA Section - 158BB Section - 158BC Section - 158BD Section - 158BE Section - 158BF Section - 158BFA

Section - 158BG Section - 158BH Section - 158BI Section - 159 Section - 160 Section - 161 Section - 162 Section - 163 Section - 164 Section - 164A Section - 165 Section - 166 Section - 167 Section - 167A Section - 167B

Authority competent to make the block assessment Application of other provisions of this Act Chapter not to apply after certain date Legal representatives Representative assessee Liability of representative assessee Right of representative assessee to recover tax paid Who may be regarded as agent Charge of tax where share of beneficiaries unknown Charge of tax in case of oral trust Case where part of trust income is chargeable Direct assessment or recovery not barred Remedies against property in cases of representative assessees Charge of tax in the case of a firm

Charge of tax where shares of members in association of persons or body of individuals unknown, etc. Liability of partners of limited liability partnership in liquidation

Section - 167C

Section - 168 Section - 169 Section - 170 Section - 171 Section - 172 Section - 173 Section - 174 Section - 174A

Executors Right of executor to recover tax paid Succession to business otherwise than on death Assessment after partition of a Hindu undivided family Shipping business of non-residents Recovery of tax in respect of non-resident from his assets Assessment of persons leaving India Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose Assessment of persons likely to transfer property to avoid tax Discontinued business Association dissolved or business discontinued Company in liquidation Liability of directors of private company in liquidation Royalties or copyright fees for literary or artistic work Consideration for know-how [OMITTED BY THE FINANCE ACT, 1988, W.E.F. 1-4-1989]

Section - 175 Section - 176 Section - 177 Section - 178 Section - 179 Section - 180 Section - 180A Section - 181

Section - 182 Section - 183 Section - 184 Section - 185 Section - 187 Section - 188 Section - 188A Section - 189 Section - 189A Section - 190 Section - 191 Section - 192 Section - 193 Section - 194 Section - 194A Section - 194B

Assessment of registered firms Assessment of unregistered firms Assessment as a firm Assessment when section 184 not complied with Change in constitution of a firm Succession of one firm by another firm Joint and several liability of partners for tax payable by firm Firm dissolved or business discontinued Provisions applicable to past assessments of firms Deduction at source and advance payment Direct payment Salary Interest on securities Dividends Interest other than Interest on securities Winnings from lottery or crossword puzzle

Section - 194BB Section - 194C Section - 194D Section - 194E Section - 194EE

Winnings from horse race Payments to contractors and sub-contractors Insurance commission Payments to non-resident sportsmen or sports associations Payments in respect of deposits under National Savings Scheme, etc. Payments on account of repurchase of units by Mutual Fund or Unit Trust of India Commission, etc., on the sale of lottery tickets Commission or brokerage Rent Fees for professional or technical services Income in respect of units Payment of compensation on acquisition of capital asset Payment of compensation on acquisition of certain immovable property Income by way of interest from infrastructure debt fund Other sums

Section - 194F

Section - 194G Section - 194H Section - 194I Section - 194J Section - 194K Section - 194L Section - 194LA

Section - 194LB Section - 195

Section - 195A Section - 196

Income payable net of tax Interest or dividend or other sums payable to Government, Reserve Bank or certain corporations Income in respect of units of non-residents Income from units

Section - 196A Section - 196B Section - 196C Section - 196D Section - 197 Section - 197A Section - 198 Section - 199 Section - 200 Section - 200A Section - 201 Section - 202 Section - 203 Section - 203A

Income from foreign currency bonds or shares of Indian company Income of Foreign Institutional Investors from securities Certificate for deduction at lower rate No deduction to be made in certain cases Tax deducted is income received Credit for tax deducted Duty of person deducting tax Processing of statements of tax deducted at source. Consequences of failure to deduct or pay Deduction only one mode of recovery Certificate for tax deducted Tax deduction and collection account number

Section - 203AA Section - 204 Section - 205 Section - 206 Section - 206A

Furnishing of statement of tax deducted Meaning of person responsible for paying Bar against direct demand on assessee Persons deducting tax to furnish prescribed returns

Furnishing of quarterly return in respect of payment of interest to residents without deduction of tax Requirement to furnish Permanent Account Number Person paying dividend to certain residents without deduction of tax to furnish prescribed return Profits and gains from the business of trading in alcoholic liquor, forest produce, scrap, etc. Tax collection account number Liability for payment of advance tax Conditions of liability to pay advance tax Computation of advance tax Computation and payment of advance tax by assessee Payment of advance tax by the assessee of his own accord or in pursuance of order of Assessing Officer

Section - 206AA Section - 206B

Section - 206C

Section - 206CA Section - 207 Section - 208 Section - 209 Section - 209A Section - 210

Section - 211 Section - 212 Section - 213 Section - 214 Section - 215 Section - 216 Section - 217 Section - 218 Section - 219 Section - 220 Section - 221 Section - 222 Section - 223 Section - 224 Section - 225

Instalments of advance tax and due dates Estimate by assessee Commission receipts Interest payable by Government Interest payable by assessee Interest payable by assessee in case of under-estimate, etc. Interest payable by assessee when no estimate made When assessee deemed to be in default Credit for advance tax When tax payable and when assessee deemed in default Penalty payable when tax in default Certificate to Tax Recovery Officer Tax Recovery Officer by whom recovery is to be effected Validity of certificate and cancellation or amendment thereof

Stay of proceedings in pursuance of certificate and amendment o cancellation thereof Other modes of recovery

Section - 226

Section - 227 Section - 228 Section - 228A Section - 229 Section - 230 Section - 230A

Recovery through State Government Recovery of Indian tax in Pakistan and Pakistan tax in India

Recovery of tax in pursuance of agreements with foreign countrie Recovery of penalties, fine, interest and other sums Tax clearance certificate Restrictions on registration of transfers of immovable property in certain cases Period for commencing recovery proceedings Recovery by suit or under other law not affected Recovery of tax payable under provisional assessment Tax paid by deduction or advance payment Interest for defaults in furnishing return of income Interest for defaults in payment of advance tax Interest for deferment of advance tax Interest on excess refund Relief to shareholders in respect of agricultural income-tax attributable to dividends Relief to company in respect of dividend paid out of past taxed

Section - 231 Section - 232 Section - 233 Section - 234 Section - 234A Section - 234B Section - 234C Section - 234D Section - 235

Section - 236

profits Section - 236A Relief to certain charitable institutions or funds in respect of certain dividends Refunds Person entitled to claim refund in certain special cases Form of claim for refund and limitation Refund on appeal, etc. Power to withhold refund in certain cases Correctness of assessment not to be questioned Interest on delayed refunds Interest on refund where no claim is needed Interest on refunds Set off of refunds against tax remaining payable Definitions Income-tax Settlement Commission Jurisdiction and powers of Settlement Commission

Section - 237 Section - 238 Section - 239 Section - 240 Section - 241 Section - 242 Section - 243 Section - 244 Section - 244A Section - 245 Section - 245A Section - 245B Section - 245BA Section - 245BB

Vice-Chairman to act as Chairman or to discharge his functions in certain circumstances

Section - 245BC Section - 245BD Section - 245C Section - 245D Section - 245DD

Power of Chairman to transfer cases from one Bench to another Decision to be by majority Application for settlement of cases Procedure on receipt of an application under section 245C

Power of Settlement Commission to order provisional attachment to protect revenue

Section - 245E Section - 245F Section - 245G Section - 245H

Power of Settlement Commission to reopen completed proceeding Powers and procedure of Settlement Commission Inspection, etc., of reports Power of Settlement Commission to grant immunity from prosecution and penalty Abatement of proceeding before Settlement Commission Credit for tax paid in case of abatement of proceedings Order of settlement to be conclusive Recovery of sums due under order of settlement Bar on subsequent application for settlement Proceedings before Settlement Commission to be judicial proceedings

Section - 245HA Section - 245HAA Section - 245I Section - 245J Section - 245K Section - 245L

Section - 245M

Certain persons who have filed appeals to the Appellate Tribunal entitled to make applications to the Settlement Commission Definitions Authority for Advance Rulings Vacancies, etc., not to invalidate proceedings Application for advance ruling Procedure on receipt of application Appellate authority not to proceed in certain cases Applicability of advance ruling Advance ruling to be void in certain circumstances Powers of the Authority Procedure of Authority Appealable orders Appealable orders before Commissioner (Appeals) Appeal by partner Appeal by person denying liability to deduct tax in certain cases Form of appeal and limitation

Section - 245N Section - 245O Section - 245P Section - 245Q Section - 245R Section - 245RR Section - 245S Section - 245T Section - 245U Section - 245V Section - 246 Section - 246A Section - 247 Section - 248 Section - 249

Section - 250 Section - 251 Section - 252 Section - 253 Section - 254 Section - 255 Section - 256 Section - 257 Section - 258

Procedure in appeal Powers of the [* * *] [Commissioner (Appeals)] Appellate Tribunal Appeals to the Appellate Tribunal Orders of Appellate Tribunal Procedure of Appellate Tribunal Statement of case to the High Court Statement of case to Supreme Court in certain cases

Power of High Court or Supreme Court to require statement to be amended Case before High Court to be heard by not less than two judges Effect to the decisions of Supreme Court and of the National Tax Tribunal Appeal to High Court Case before High Court to be heard by not less than two Judges Appeal to Supreme Court Hearing before Supreme Court

Section - 259 Section - 260

Section - 260A Section - 260B Section - 261 Section - 262

Section - 263 Section - 264 Section - 265 Section - 266 Section - 267 Section - 268 Section - 268A

Revision of orders prejudicial to revenue Revision of other orders Tax to be paid notwithstanding reference, etc. Execution for costs awarded by Supreme Court Amendment of assessment on appeal Exclusion of time taken for copy Filing of appeal or application for reference by income-tax authority. Definition of High Court Definitions Registration of certain transactions Competent authority Immovable property in respect of which proceedings for acquisition may be taken Preliminary notice Objections Hearing of objections Appeal against order for acquisition

Section - 269 Section - 269A Section - 269AB Section - 269B Section - 269C

Section - 269D Section - 269E Section - 269F Section - 269G

Section - 269H Section - 269I Section - 269J Section - 269K Section - 269L Section - 269M Section - 269N Section - 269O Section - 269P

Appeal to High Court Vesting of property in Central Government Compensation Payment or deposit of compensation Assistance by Valuation Officers Powers of competent authority Rectification of mistakes Appearance by authorised representative or registered valuer Statement to be furnished in respect of transfers of immovable property Chapter not to apply to transfers to relatives Properties liable for acquisition under this Chapter not to be acquired under other laws

Section - 269Q Section - 269R

Section - 269RR

Chapter not to apply where transfer of immovable property made after a certain date Chapter not to extend to State of Jammu and Kashmir Mode of taking or accepting certain loans and deposits Mode of repayment of certain loans or deposits

Section - 269S Section - 269SS Section - 269T

Section - 269TT Section - 269U Section - 269UA Section - 269UB Section - 269UC Section - 269UD

Mode of repayment of Special Bearer Bonds, 1991 Commencement of Chapter Definitions Appropriate authority Restrictions on transfer of immovable property Order by appropriate authority for purchase by Central Government of immovable property Vesting of property in Central Government Consideration for purchase of immovable property by Central Government Payment or deposit of consideration Re-vesting of property in the transferor on failure of payment or deposit of consideration Powers of the appropriate authority Rectification of mistakes Restrictions on revocation or alteration of certain agreements for the transfer of immovable property or on transfer of certain immovable property Restrictions on registration, etc., of documents in respect of transfer of immovable property

Section - 269UE Section - 269UF

Section - 269UG Section - 269UH

Section - 269UI Section - 269UJ Section - 269UK

Section - 269UL

Section - 269UM Section - 269UN Section - 269UO Section - 269UP

Immunity to transferor against claims of transferee for transfer Order of appropriate authority to be final and conclusive Chapter not to apply to certain transfers Chapter not to apply where transfer of immovable property effected after certain date Failure to furnish information regarding securities, etc. Failure to furnish returns, comply with notices, concealment of income, etc Failure to keep, maintain or retain books of account, documents, etc.

Section - 270 Section - 271

Section - 271A

Section - 271AA

Penalty for failure to keep and maintain information and documen in respect of international transaction Penalty where search has been initiated Failure to get accounts audited Penalty for failure to furnish report under section 92E Failure to subscribe to the eligible issue of capital Penalty for failure to deduct tax at source Penalty for failure to collect tax at source

Section - 271AAA Section - 271B Section - 271BA Section - 271BB Section - 271C Section - 271CA

Section - 271D Section - 271E Section - 271F Section - 271FA Section - 271FB Section - 271G

Penalty for failure to comply with the provisions of section 269SS Penalty for failure to comply with the provisions of section 269T Penalty for failure to furnish return of income Penalty for failure to furnish annual information return Penalty for failure to furnish return of fringe benefits Penalty for failure to furnish information or document under section 92D Failure to give notice of discontinuance Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc. Penalty for failure to comply with the provisions of section 133B Penalty for failure to comply with the provisions of section 139A Penalty for failure to comply with the provisions of section 203A

Section - 272 Section - 272A

Section - 272AA Section - 272B Section - 272BB Section - 272BBB Section - 273 Section - 273A Section - 273AA Section - 273B

Penalty for failure to comply with the provisions of section 206CA False estimate of, or failure to pay, advance tax Power to reduce or waive penalty, etc., in certain cases Power of Commissioner to grant immunity from penalty. Penalty not to be imposed in certain cases

Section - 274 Section - 275 Section - 275A Section - 275B

Procedure Bar of limitation for imposing penalties

Contravention of order made under sub-section (3) of section 132

Failure to comply with the provisions of clause (iib) of sub-section (1) of section 132 Removal, concealment, transfer or delivery of property to thwart tax recovery Failure to comply with the provisions of sub-sections (1) and (3) of section 178 Failure to comply with the provisions of section 269AB or section 269-I Failure to comply with the provisions of sections 269UC, 269UE and 269UL Failure to pay tax to the credit of Central Government under Chapter XII-D or XVII-B Failure to pay the tax collected at source Wilful attempt to evade tax, etc. Failure to furnish returns of income Failure to furnish return of income in search cases Failure to produce accounts and documents

Section - 276

Section - 276A

Section - 276AA

Section - 276AB

Section - 276B

Section - 276BB Section - 276C Section - 276CC Section - 276CCC Section - 276D

Section - 276DD Section - 276E Section - 277 Section - 277A Section - 278 Section - 278A Section - 278AA Section - 278AB Section - 278B Section - 278C Section - 278D Section - 278E Section - 279

Failure to comply with the provisions of section 269SS Failure to comply with the provisions of section 269T False statement in verification, etc. Falsification of books of account or document, etc. Abetment of false return, etc. Punishment for second and subsequent offences Punishment not to be imposed in certain cases Power of Commissioner to grant immunity from prosecution. Offences by companies Offences by Hindu undivided families

Presumption as to assets, books of account, etc., in certain cases Presumption as to culpable mental state Prosecution to be at instance of [Chief Commissioner or Commissioner Certain offences to be non-cognizable Proof of entries in records or documents Disclosure of particulars by public servants

Section - 279A Section - 279B Section - 280

Section - 280A to 280X omitted by the Finance Act, 1988, w.e.f. 1-4-1988 Section - 280Y Section - 280Z Section - 280ZA Definitions Tax credit certificates to certain equity shareholders Tax credit certificates for shifting of industrial undertaking from urban area Tax credit certificate to certain manufacturing companies in certain cases Tax credit certificate in relation to exports

Section - 280ZB

Section - 280ZC Section - 280ZD

Tax credit certificates in relation to increased production of certai goods Tax credit certificate scheme Certain transfers to be void

Section - 280ZE Section - 281 Section - 281A

Effect of failure to furnish information in respect of properties hel benami Provisional attachment to protect revenue in certain cases Service of notice generally Authentication of notices and other documents Allotment of Document Identification Number.

Section - 281B Section - 282 Section - 282A Section - 282B

Section - 283

Service of notice when family is disrupted or firm, etc., is dissolved Service of notice in the case of discontinued business Submission of statement by a non-resident having liaison office Information by contractors in certain cases Submission of statements by producers of cinematograph films Obligation to furnish annual information return Information by companies respecting shareholders to whom dividends have been paid Publication of information respecting assessees in certain cases Appearance by registered valuer in certain matters Appearance by authorised representative Rounding off of income Rounding off amount payable and refund due Receipt to be given Indemnity Power to tender immunity from prosecution Cognizance of offences

Section - 284 Section - 285 Section - 285A Section - 285B Section - 285BA Section - 286

Section - 287 Section - 287A Section - 288 Section - 288A Section - 288B Section - 289 Section - 290 Section - 291 Section - 292

Section - 292A

Section 360 of the Code of Criminal Procedure, 1973, and the Probation of Offenders Act, 1958, not to apply Return of income, etc., not to be invalid on certain grounds Notice deemed to be valid in certain circumstances Presumption as to assets, books of account, etc. Bar of suits in civil courts. Power to make exemption, etc., in relation to participation in the business of prospecting for, extraction, etc., of mineral oils Power of Central Government or Board to condone delays in obtaining approval Power to withdraw approval Act to have effect pending legislative provision for charge of tax Power to make exemption, etc., in relation to certain Union territories Power to make rules Rules and certain notifications to be placed before Parliament Repeals and savings Power to remove difficulties

Section - 292B Section - 292BB Section - 292C Section - 293 Section - 293A

Section - 293B

Section - 293C Section - 294 Section - 294A

Section - 295 Section - 296 Section - 297 Section - 298

-- - APPENDIX

TEXT OF REMAINING PROVISIONS OF ALLIED ACTS REFERRED T IN INCOME-TAX ACT INSURANCE BUSINESS PROCEDURE FOR RECOVERY OF TAX Procedure for distraint by [Assessing Officer] [Or tax recovery officer Recognised Provident Funds List of articles and things Omitted by the Finance Act, 1972, w.e.f. 1-4-1973 Minerals LIST OF INDUSTRIALLY BACKWARD STATES AND UNION TERRITORIES Omitted by the Taxation Laws (Amendment & Miscellaneous Provisions) Act, 1986, w.e.f. 1-4-1988 Omitted by the Finance Act, 1999, w.e.f. 1-4-2000 LIST OF ARTICLES OR THINGS PROCESSED MINERALS AND ORES List of articles or things List of Articles or things or operations

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-- - SCHEDULE 04 -- - SCHEDULE 05 -- - SCHEDULE 06 -- - SCHEDULE 07 -- - SCHEDULE 08

-- - SCHEDULE 09

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