Income Tax Act, 1961 |
1
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Chapter I--Preliminary |
1
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| SECTION 1 :Short title, extent and commencement. |
1
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| SECTION 2 :Definitions. |
1
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| SECTION 3 :“Previous year” defined. |
32
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Chapter II--Basis of Charge |
34
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| SECTION 4 :Charge of income-tax. |
34
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| SECTION 5 :Scope of total income. |
34
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| SECTION 5A. :Apportionment of income between spouses governed by Portuguese Civil Code. |
35
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| SECTION 6 :Residence in India. |
35
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| SECTION 7 :Income deemed to be received. |
37
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| SECTION 8 :Dividend income. |
38
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| SECTION 9 :Income deemed to accrue or arise in India. |
38
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| SECTION 9A. :Certain activities not to constitute business connection in India. |
49
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| SECTION 9B. :Income on receipt of capital asset or stock in trade by specified person from specified entity. |
52
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Chapter III--Incomes which do not form part of total income |
54
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| SECTION 10 :Income not included in total income. |
54
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| SECTION 10A. :Special provision in respect of newly established undertakings in free trade zone, etc. |
140
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| SECTION 10AA. :Special provisions in respect of units in Special Economic Zones |
148
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| SECTION 10B. :Special provisions in respect of newly established hundred per cent export oriented undertakings. |
152
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| SECTION 10BA. :Special provisions in respect of export of certain articles or things. |
158
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| SECTION 10BB. :Meaning of computer programmes in certain cases. |
159
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| SECTION 10C. :Special provision in respect of certain industrial undertakings in North-Eastern Region. |
159
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| SECTION 11 :Income from property held for charitable or religious purposes. |
161
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| SECTION 12 :Income of trusts or institutions from contributions. |
172
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| SECTION 12A. : Conditions for applicability of sections 11 and 12. |
173
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| SECTION 12AA. :Procedure for registration. |
176
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| SECTION 12AB. :Procedure for fresh registration. |
178
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| SECTION 13 :Section 11 not to apply in certain cases. |
180
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| SECTION 13A. :Special provision relating to incomes of Political Parties. |
187
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| SECTION 13B. :Special provisions relating to voluntary contributions received by electoral trust. |
188
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Chapter IV--Computation of Total Income |
189
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| Heads of Income |
189
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| SECTION 14 :Heads of income. |
189
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| SECTION 14A. :Expenditure incurred in relation to income not includible in total income. |
189
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| A.--Salaries |
190
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| SECTION 15 :Salaries. |
190
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| SECTION 16 :Deduction from salaries. |
190
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| SECTION 17 :“Salary”, “Perquisite” and “Profits in lieu of Salary” defined. |
191
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| B.--Omitted |
198
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| SECTION 18 :Omitted by the Finance Act, 1988, w.e.f. 1-4-1989 |
198
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| SECTION 19 :Omitted by the Finance Act, 1988, w.e.f. 1-4-1989 |
198
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| SECTION 20 :Omitted by the Finance Act, 1988, w.e.f. 1-4-1989 |
198
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| SECTION 21 :Omitted by the Finance Act, 1988, w.e.f. 1-4-1989 |
198
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| C.--Income from House Property |
199
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| SECTION 22 :Income from House Property. |
199
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| SECTION 23 :Annual value how determined. |
199
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| SECTION 24 :Deductions from income from House Property. |
201
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| SECTION 25 :Amounts not deductible from income from House Property. |
203
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| SECTION 25A. :Special provision for arrears of rent and unrealised rent received subsequently. |
203
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| SECTION 26 :Property owned by Co-owners. |
204
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| SECTION 27 :“Owner of House Property”, “Annual Charge”, etc., defined. |
204
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| D.--Profits and Gains of Business or Profession |
205
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| SECTION 28 :Profits and Gains of Business or Profession. |
205
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| SECTION 29 :Income from Profits and Gains of Business or Profession, how computed. |
208
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| SECTION 30 :Rent, Rates, Taxes, Repairs and Insurance for Buildings. |
208
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| SECTION 31 :Repairs and Insurance of Machinery, Plant and Furniture. |
208
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| SECTION 32 :Depreciation. |
208
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| SECTION 32A. :Investment allowance. |
217
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| SECTION 32AB. :Investment deposit account. |
225
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| SECTION 32AC. :Investment in new plant or machinery. |
229
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| SECTION 32AD. :Investment in new plant or machinery in notified backward areas in certain States. |
231
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| SECTION 33 :Development rebate. |
232
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| SECTION 33A. :Development allowance. |
236
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| SECTION 33AB. :Tea Development Account Coffee Development Account and Rubber Development Account. |
240
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| SECTION 33ABA. :Site Restoration Fund. |
244
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| SECTION 33AC. :Reserves for Shipping Business. |
247
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| SECTION 33B. :Rehabilitation allowance. |
249
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| SECTION 34 :Conditions for depreciation allowance and development rebate. |
249
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| SECTION 34A. :Restriction on unabsorbed depreciation and unabsorbed investment allowance for limited period in case of certain domestic companies. |
251
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| SECTION 35 :Expenditure on scientific research. |
252
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| SECTION 35A. :Expenditure on acquisition of patent rights or copyrights. |
261
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| SECTION 35AB. :Expenditure on know-how. |
262
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| SECTION 35ABA. :Expenditure for obtaining right to use spectrum for telecommunication services. |
263
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| SECTION 35ABB. :Expenditure for obtaining licence to operate Telecommunication Services. |
264
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| SECTION 35AC. :Expenditure on eligible projects or schemes. |
266
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| SECTION 35AD. :Deduction in respect of expenditure on specified business |
269
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| SECTION 35B. :Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989 |
274
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| SECTION 35C. :Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989 |
275
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| SECTION 35CC. :Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989 |
275
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| SECTION 35CCA. :Expenditure by way of payment to Associations and Institutions for carrying out rural development programmes. |
276
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| SECTION 35CCB. :Expenditure by way of payment to Associations and Institutions for carrying out programmes of conservation of Natural Resources. |
277
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| SECTION 35CCC. :Expenditure on agricultural extension project |
278
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| SECTION 35CCD. :Expenditure on skill development project. |
278
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| SECTION 35D. :Amortisation of certain preliminary expenses. |
279
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| SECTION 35DD. :Amortisation of expenditure in case of amalgamation or demerger. |
282
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| SECTION 35DDA. :Amortisation of expenditure incurred under voluntary retirement scheme. |
283
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| SECTION 35E. :Deduction for Expenditure on Prospecting, etc., for certain minerals. |
284
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| SECTION 36 :Other Deductions. |
286
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| SECTION 37 :General. |
298
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| SECTION 38 :Building, etc., partly used for business, etc., or not exclusively so used. |
302
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| SECTION 39 : Omitted vide Direct Tax Laws (Amendment) Act, 1987, effective from 1-4-1989. |
302
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| SECTION 40 :Amounts not deductible. |
302
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| SECTION 40A. :Expenses or Payments not deductible in certain circumstances. |
310
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| SECTION 41 :Profits chargeable to tax. |
317
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| SECTION 42 :Special provision for deductions in the case of business for prospecting, etc., for mineral oil. |
321
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| SECTION 43 :Definitions of certain terms relevant to Income from Profits and Gains of Business or Profession. |
323
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| SECTION 43A. :Special provisions consequential to changes in rate of exchange of currency. |
333
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| SECTION 43AA. :Taxation of foreign exchange fluctuation. |
335
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| SECTION 43B. :Certain deductions to be only on actual payment. |
335
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| SECTION 43C. :Special provision for computation of cost of acquisition of certain assets. |
339
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| SECTION 43CA. :Special provision for full value of consideration for transfer of assets other than capital assets in certain cases. |
339
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| SECTION 43CB. :Computation of income from construction and service contracts. |
341
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| SECTION 43D. :Special provision in case of income of public financial institutions, etc. |
341
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| SECTION 44 :Insurance Business. |
343
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| SECTION 44A. :Special provisions for deduction in the case of trade, professional or similar association. |
343
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| SECTION 44AA. :Maintenance of Accounts by certain persons carrying on profession or business. |
344
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| SECTION 44AB. :Audit of Accounts of certain persons carrying on Business or Profession. |
345
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| SECTION 44AC. :Omitted vide Finance Act, 1992, effective from 1-4-1993 |
348
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| SECTION 44AD. :Special provision for computing profits and gains of business on presumptive basis. |
348
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| SECTION 44ADA. :Special provision for computing profits and gains of profession on presumptive basis |
351
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| SECTION 44AE. :Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages. |
351
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| SECTION 44AF. :Special provisions for computing profits and gains of retail business. |
353
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| SECTION 44B. :Special provision for computing profits and gains of shipping business in the case of non-residents. |
354
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| SECTION 44BB. :Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils. |
354
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| SECTION 44BBA. :Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents. |
355
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| 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. |
356
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| SECTION 44C. :Deduction of head office expenditure in the case of non-residents. |
356
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| SECTION 44D. :Special provisions for computing income by way of royalties, etc., in the case of foreign companies. |
358
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| SECTION 44DA. :Special provision for computing income by way of royalties, etc., in case of non‑residents. |
359
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| SECTION 44DB. :Special provision for computing deductions in the case of business reorganisation of co-operative banks |
360
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| E.--Capital Gains |
363
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| SECTION 45 :Capital Gains. |
363
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| SECTION 46 :Capital gains on distribution of assets by companies in liquidation. |
367
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| SECTION 46A. :Capital gains on purchase by company of its own shares or other specified securities. |
368
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| SECTION 47 :Transactions not regarded as transfer. |
368
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| SECTION 47A. :Withdrawal of exemption in certain cases. |
378
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| SECTION 48 :Mode of computation. |
379
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| SECTION 49 :Cost with reference to certain modes of acquisition. |
383
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| SECTION 50 :Special provision for computation of capital gains in case of depreciable assets. |
387
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| SECTION 50A. :Special provision for cost of acquisition in case of depreciable asset. |
388
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| SECTION 50AA. :Special provision for computation of capital gains in case of Market Linked Debenture. |
389
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| SECTION 50B. :Special provision for computation of capital gains in case of slump sale. |
389
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| SECTION 50C. :Special provision for full value of consideration in certain cases. |
391
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| SECTION 50CA. :Special provision for full value of consideration for transfer of share other than quoted share. |
392
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| SECTION 50D. :Fair market value deemed to be full value of consideration in certain cases. |
392
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| SECTION 51 :Advance money received. |
392
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| SECTION 52 :Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 |
393
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| SECTION 53 :Omitted by the Finance Act, 1992, w.e.f. 1-4-1993 |
393
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| SECTION 54 :Profit on sale of property used for residence. |
393
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| SECTION 54A. :Omitted by the Finance (No. 2) Act, 1971, w.e.f. 1-4-1972 |
396
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| SECTION 54B. :Capital gain on transfer of land used for agricultural purposes not to be charged in certain cases. |
396
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| SECTION 54C. :Omitted vide Finance Act, 1976, effective from 1-4-1976 |
398
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| SECTION 54D. :Capital gain on compulsory acquisition of lands and buildings not to be charged in certain cases. |
398
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| SECTION 54E. :Capital gain on transfer of capital assets not to be charged in certain cases. |
400
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| SECTION 54EA. :Capital gain on transfer of long-term capital assets not to be charged in the case of investment in specified securities. |
405
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| SECTION 54EB. :Capital gain on transfer of long-term capital assets not to be charged in certain cases. |
407
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| SECTION 54EC. :Capital gains to be charged on investment in certain bonds. |
408
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| SECTION 54ED. :Capital gain on transfer of certain listed securities or unit, not to be charged in certain cases. |
410
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| SECTION 54EE. :Capital gain not to be charged on investment in units of a specified fund. |
411
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| SECTION 54F. :Capital gain on transfer of certain capital assets not to be charged in case of investment in residential house. |
412
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| SECTION 54G. :Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area. |
414
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| SECTION 54GA. :Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone. |
416
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| SECTION 54GB. :Capital gain on transfer of residential property not to be charged in certain cases. |
417
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| SECTION 54H. :Extension of time for acquiring new asset or depositing or investing amount of capital gain. |
420
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| SECTION 55 :Meaning of “adjusted”, “cost of improvement” and “cost of acquisition”. |
420
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| SECTION 55A. :Reference to valuation officer. |
425
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| F.--Income from Other Sources |
426
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| SECTION 56 :Income from other sources. |
426
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| SECTION 57 :Deductions. |
435
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| SECTION 58 :Amounts not deductible. |
437
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| SECTION 59 :Profits chargeable to tax. |
438
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Chapter V--Income of Other Persons, Included in Assessee’s Total Income |
439
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| SECTION 60 :Transfer of income where there is no transfer of assets. |
439
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| SECTION 61 :Revocable transfer of assets. |
439
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| SECTION 62 :Transfer irrevocable for a specified period. |
439
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| SECTION 63 :“Transfer” and “Revocable Transfer” defined. |
439
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| SECTION 64 :Income of individual to include income of spouse, minor child, etc. |
439
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| SECTION 65 :Liability of person in respect of income included in the income of another person. |
444
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Chapter VI--Aggregation of Income and Set Off or Carry Forward of Loss |
445
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| Aggregation of Income |
445
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| SECTION 66 :Total income. |
445
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| SECTION 67 :Omitted by the Finance Act, 1992, w.e.f. 1-4-1993. |
445
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| SECTION 67A. :Method of computing a member’s share in income of association of persons or body of individuals. |
445
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| SECTION 68 :Cash credits. |
446
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| SECTION 69 :Unexplained investments. |
447
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| SECTION 69A. :Unexplained money, etc. |
447
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| SECTION 69B. :Amount of investments, etc., not fully disclosed in books of account. |
447
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| SECTION 69C. :Unexplained expenditure, etc. |
448
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| SECTION 69D. :Amount borrowed or repaid on hundi. |
448
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| Set Off, or Carry Forward and Set Off |
448
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| SECTION 70 :Set off of loss from one source against income from another source under the same head of income. |
448
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| SECTION 71 :Set off of loss from one head against income from another. |
449
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| SECTION 71A. :Transitional provisions for set off of loss under the head “income from house property”. |
450
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| SECTION 71B. :Carry forward and set-off of loss from house property. |
450
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| SECTION 72 :Carry forward and set off of business losses. |
450
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| SECTION 72A. :Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in amalgamation or demerger, etc. |
451
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| SECTION 72AA. :Carry forward and set off of accumulated loss and unabsorbed depreciation allowance in scheme of amalgamation in certain cases. |
457
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| SECTION 72AB. :Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in business reorganisation of co-operative banks. |
458
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| SECTION 73 :Losses in speculation business. |
460
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| SECTION 73A. :Carry forward and set off of losses by specified business |
461
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| SECTION 74 :Losses under the head “Capital Gains”. |
461
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| SECTION 74A. :Losses from certain specified sources falling under the head “Income from other sources”. |
462
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| SECTION 75 :Losses of firms. |
463
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| SECTION 78 :Carry forward and set off of losses in case of change in constitution of firm or on succession. |
464
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| SECTION 79 :Carry forward and set off of losses in case of certain companies. |
464
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| SECTION 79A. :No set off of losses consequent to search, requisition and survey. |
466
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| SECTION 80 :Submission of return for losses. |
467
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Chapter VIA--Deductions to be Made in Computing Total Income |
468
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| A.--General |
468
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| SECTION 80A. :Deductions to be made in computing total income. |
468
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| SECTION 80AA. :Omitted vide Finance Act, 1997, w.e.f. 1-4-1998. |
470
| >> |
| SECTION 80AB. :Deductions to be made with reference to the income included in the gross total income. |
470
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| SECTION 80AC. :Deduction not to be allowed unless return furnished. |
470
| >> |
| SECTION 80B. :Definitions. |
471
| >> |
| B.--Deduction in Respect of Certain Payments |
471
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| SECTION 80C. :Omitted vide Finance Act, 1990, w.e.f. 1-4-1991 |
471
| >> |
| SECTION 80C. :Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc. |
475
| >> |
| SECTION 80CC. :Omitted vide Finance (No. 2) Act, 1996, w.r.e.f. 1-4-1993 |
483
| >> |
| SECTION 80CCA. :Deduction in respect of deposits under national savings scheme or payment to a deferred annuity plan. |
484
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| SECTION 80CCB. :Deduction in respect of investment made under equity linked savings scheme. |
486
| >> |
| SECTION 80CCC. :Deduction in respect of contribution to certain pension funds. |
487
| >> |
| SECTION 80CCD. :Deduction in respect of contribution to pension scheme of Central Government. |
487
| >> |
| SECTION 80CCE. :Limit on deductions under sections 80C, 80CCC and 80CCD. |
489
| >> |
| SECTION 80CCF. :Deduction in respect of subscription to long-term infrastructure bonds. |
490
| >> |
| SECTION 80CCG. :Deduction in respect of investment made under an equity savings scheme. |
490
| >> |
| SECTION 80CCH. :Deduction in respect of contribution to Agnipath Scheme. |
491
| >> |
| SECTION 80D. :Deduction in respect of health insurance premia. |
491
| >> |
| SECTION 80DD. :Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability. |
494
| >> |
| SECTION 80DDA. :Substituted vide Finance (No. 2) Act, 1998, by section 80DD effective from 1-4-1999. |
498
| >> |
| SECTION 80DDB. :Deduction in respect of medical treatment, etc. |
498
| >> |
| SECTION 80E. :Deduction in respect of interest on loan taken for higher education. |
500
| >> |
| SECTION 80EE. :Deduction in respect of interest on loan taken for residential house property. |
501
| >> |
| SECTION 80EEA. :Deduction in respect of interest on loan taken for certain house property. |
502
| >> |
| SECTION 80EEB. :Deduction in respect of purchase of electric vehicle. |
503
| >> |
| SECTION 80F. :Omitted vide Finance Act, 1985, w.e.f. 1-4-1986 |
504
| >> |
| SECTION 80FF. :Omitted vide Finance (No. 2) Act, 1980, w.e.f. 1-4-1981 |
504
| >> |
| SECTION 80G. :Deduction in respect of donations to certain funds, charitable institutions, etc. |
504
| >> |
| SECTION 80GG. :Deductions in respect of rents paid. |
514
| >> |
| SECTION 80GGA. :Deduction in respect of certain donations for scientific research or rural development. |
515
| >> |
| SECTION 80GGB. :Deduction in respect of contributions given by companies to political parties. |
518
| >> |
| SECTION 80GGC. :Deduction in respect of contributions given by any person to political parties. |
518
| >> |
| C.--Deductions in Respect of Certain Incomes |
518
| >> |
| SECTION 80H. :Omitted vide Taxation Laws (Amendment) Act, 1975, w.e.f. 1-4-1976 |
518
| >> |
| SECTION 80HH. :Deduction in respect of profits and gains from newly established industrial undertakings or hotel business in backward areas. |
518
| >> |
| SECTION 80HHA. :Deduction in respect of profits and gains from newly established small-scale industrial undertakings in certain areas. |
521
| >> |
| SECTION 80HHB. :Deduction in respect of profits and gains from projects outside India. |
523
| >> |
| SECTION 80HHBA. :Deduction in respect of profits and gains from housing projects in certain cases. |
526
| >> |
| SECTION 80HHC. :Deduction in respect of profits retained for export business. |
527
| >> |
| SECTION 80HHD. :Deduction in respect of earnings in convertible foreign exchange. |
535
| >> |
| SECTION 80HHE. :Deduction in respect of profits from export of computer software, etc. |
539
| >> |
| SECTION 80HHF. :Deduction in respect of profits and gains from export or transfer of film, software, etc. |
543
| >> |
| SECTION 80-I. :Deduction in respect of profits and gains from industrial undertakings after a certain date, etc. |
545
| >> |
| SECTION 80-IA. :Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc. |
550
| >> |
| SECTION 80‑IAB. :Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone. |
563
| >> |
| SECTION 80-IAC. :Special provision in respect of specified business |
563
| >> |
| SECTION 80-IB. :Deduction in respect of profits and gains from certain industrial undertakings other than infrastructure development undertakings. |
565
| >> |
| SECTION 80-IBA. :Deductions in respect of profits and gains from housing projects. |
578
| >> |
| SECTION 80‑IC. :Special provisions in respect of certain undertakings or enterprises in certain special category States. |
581
| >> |
| SECTION 80-ID. :Deduction in respect of profits and gains from business of hotels and convention centres in specified area. |
584
| >> |
| SECTION 80-IE. :Special provisions in respect of certain undertakings in North-Eastern States. |
586
| >> |
| SECTION 80J. :Omitted vide Finance (No. 2) Act, 1996, w.r.e.f. 1-4-1989 |
588
| >> |
| SECTION 80JJ. :Omitted vide Finance Act, 1997, w.e.f. 1-4-1998 |
591
| >> |
| SECTION 80JJA. :Deduction in respect of profits and gains from business of collecting and processing of bio-degradable waste. |
591
| >> |
| SECTION 80JJAA. :Deduction in respect of employment of new employees. |
592
| >> |
| SECTION 80K. :Omitted vide Finance Act, 1986, w.e.f. 1-4-1987 |
594
| >> |
| SECTION 80L. :Omitted vide Finance Act, 2005, effective from 1-4-2006 |
594
| >> |
| SECTION 80LA. :Deductions in respect of certain incomes of Offshore Banking Units and International Financial Services Centre. |
596
| >> |
| SECTION 80M. :Deduction in respect of certain inter-corporate dividends. |
598
| >> |
| SECTION 80M. :Omitted vide Finance Act, 2003, effective from 1-4-2004. |
598
| >> |
| SECTION 80MM. :Omitted vide Finance Act, 1983, w.e.f. 1-4-1984 |
599
| >> |
| SECTION 80N. :Omitted vide Finance Act, 1985, w.e.f. 1-4-1986 |
600
| >> |
| SECTION 80-O. :Deduction in respect of royalties, etc., from certain foreign enterprises. |
600
| >> |
| SECTION 80P. :Deduction in respect of income of co-operative societies. |
602
| >> |
| SECTION 80PA. :Deduction in respect of certain income of Producer Companies. |
604
| >> |
| SECTION 80Q. :Deduction in respect of profits and gains from the business of publication of books. |
605
| >> |
| SECTION 80QQ. : Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989 |
606
| >> |
| SECTION 80QQA. :Deduction in respect of professional income of authors of text books in Indian languages. |
606
| >> |
| SECTION 80QQB. :Deduction in respect of royalty income, etc., of authors of certain books other than text books. |
607
| >> |
| SECTION 80R. :Deduction in respect of remuneration from certain foreign sources in the case of professors, teachers, etc. |
608
| >> |
| SECTION 80RR. :Deduction in respect of professional income from foreign sources in certain cases. |
609
| >> |
| SECTION 80RRA. :Deduction in respect of remuneration received for services rendered outside India. |
610
| >> |
| SECTION 80RRB. :Deduction in respect of royalty on patents. |
611
| >> |
| SECTION 80S. :Omitted vide Finance Act, 1986, w.e.f. 1-4-1987 |
613
| >> |
| SECTION 80T. :Omitted vide Finance Act, 1987, w.e.f. 1-4-1988 |
613
| >> |
| SECTION 80TT. :Omitted vide Finance Act, 1986, w.e.f. 1-4-1987 |
614
| >> |
| CA.--Deductions in Respect of Other Incomes |
614
| >> |
| SECTION 80TTA. :Deduction in respect of interest on deposits in savings account. |
614
| >> |
| SECTION 80TTB. :Deduction in respect of interest on deposits in case of senior citizens. |
615
| >> |
| D.--Other Deductions |
615
| >> |
| SECTION 80U. :Deduction in case of a person with disability. |
615
| >> |
| SECTION 80V. :Omitted vide Finance Act, 1994, w.e.f. 1-4-1995 |
618
| >> |
| SECTION 80VV. :Omitted vide Finance Act, 1985, w.e.f. 1-4-1986 |
618
| >> |
Chapter VI-B--Restriction on Certain Deductions in the Case of Companies |
619
| >> |
| SECTION 80VVA. :Omitted vide Finance Act, 1987, w.e.f. 1-4-1988 |
619
| >> |
Chapter VII--Incomes Forming Part of Total Income on Which No Income Tax is Payable |
619
| >> |
| SECTION 81 :Omitted vide Finance (No. 2) Act, 1967, w.e.f. 1-4-1968 |
619
| >> |
| SECTION 82 :Omitted vide Finance (No. 2) Act, 1967, w.e.f. 1-4-1968 |
619
| >> |
| SECTION 83 :Omitted vide Finance (No. 2) Act, 1967, w.e.f. 1-4-1968 |
619
| >> |
| SECTION 84 :Omitted vide Finance (No. 2) Act, 1967, w.e.f. 1-4-1968 |
619
| >> |
| SECTION 85 :Omitted vide Finance (No. 2) Act, 1967, w.e.f. 1-4-1968 |
619
| >> |
| SECTION 85A. :Omitted vide Finance (No. 2) Act, 1967, w.e.f. 1-4-1968 |
619
| >> |
| SECTION 85B. :Omitted vide Finance (No. 2) Act, 1967, w.e.f. 1-4-1968 |
619
| >> |
| SECTION 85C. :Omitted vide Finance (No. 2) Act, 1967, w.e.f. 1-4-1968 |
619
| >> |
| SECTION 86 :Share of member of an association of persons or body of individuals in the income of the association or body. |
619
| >> |
| SECTION 86A. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1989 |
620
| >> |
Chapter VIII--Rebates and Reliefs |
621
| >> |
| A.--Rebate of Income Tax |
621
| >> |
| SECTION 87 :Rebate to be allowed in computing income-tax. |
621
| >> |
| SECTION 87A. :Rebate of income-tax in case of certain individuals. |
621
| >> |
| SECTION 88 :Omitted vide Finance Act, 2023, with effect from 1-4-2023 |
622
| >> |
| SECTION 88A. :Omitted by the Finance (No. 2) Act, 1996, w.r.e.f. 1-4-1994 |
626
| >> |
| SECTION 88B. :Omitted vide Finance Act, 2005, effective from 1-4-2006. |
627
| >> |
| SECTION 88C. :Omitted vide Finance Act, 2005, effective from 1-4-2006. |
627
| >> |
| SECTION 88D. :Omitted vide Finance Act, 2005, effective from 1-4-2006. |
627
| >> |
| SECTION 88E. :Rebate in respect of securities transaction tax. |
628
| >> |
| B.--Relief for Income Tax |
628
| >> |
| SECTION 89 :Relief when salary, etc., is paid in arrears or in advance. |
628
| >> |
| SECTION 89A. :Omitted by the Finance Act, 1983, w.e.f. 1-4-1983 |
629
| >> |
| SECTION 89A. :Relief from taxation in income from retirement benefit account maintained in a notified country. |
629
| >> |
Chapter IX--Double Taxation Relief |
630
| >> |
| SECTION 90 :Agreement with foreign countries or specified territories. |
630
| >> |
| SECTION 90A. :Adoption by Central Government of agreements between specified associations for double taxation relief. |
632
| >> |
| SECTION 91 :Countries with which no agreement exists. |
633
| >> |
Chapter X--Special Provisions Relating to Avoidance of Tax |
635
| >> |
| SECTION 92 :Computation of income from international transaction having regard to arm’s length price. |
635
| >> |
| SECTION 92A. :Meaning of associated enterprise. |
636
| >> |
| SECTION 92B. :Meaning of international transaction. |
637
| >> |
| SECTION 92BA. :Meaning of specified domestic transaction |
639
| >> |
| SECTION 92C. :Computation of arm’s length price. |
639
| >> |
| SECTION 92CA. :Reference to Transfer Pricing Officer. |
641
| >> |
| SECTION 92CB. :Power of Board to make safe harbour rules. |
644
| >> |
| SECTION 92CC. :Advance Pricing Agreement. |
644
| >> |
| SECTION 92CD. :Effect to advance pricing agreement |
646
| >> |
| SECTION 92CE. :Secondary adjustment in certain cases. |
647
| >> |
| SECTION 92D. :Maintenance, keeping and furnishing of information and document by certain persons. |
648
| >> |
| SECTION 92E. :Report from an accountant to be furnished by persons entering into international transaction or specified domestic transaction |
650
| >> |
| SECTION 92F. :Definitions of certain terms relevant to computation of arm’s length price, etc. |
650
| >> |
| SECTION 93 :Avoidance of income-tax by transactions resulting in transfer of income to non-residents. |
651
| >> |
| SECTION 94 :Avoidance of tax by certain transactions in securities. |
652
| >> |
| SECTION 94A. :Special measures in respect of transactions with persons located in notified jurisdictional area |
655
| >> |
| SECTION 94B. :Limitation on interest deduction in certain cases. |
656
| >> |
Chapter X-A--General Anti-Avoidance Rule |
658
| >> |
| SECTION 94B. :Applicability of General Anti-Avoidance Rule. |
658
| >> |
Chapter X-A--General Anti-Avoidance Rule |
660
| >> |
| SECTION 95 :Applicability of General Anti-Avoidance Rule. |
660
| >> |
| SECTION 96 :Impermissible avoidance arrangement. |
661
| >> |
| SECTION 97 :Arrangement to lack commercial substance. |
661
| >> |
| SECTION 98 :Consequences of impermissible avoidance arrangement. |
662
| >> |
| SECTION 99 :Treatment of connected person and accommodating party. |
663
| >> |
| SECTION 100 :Application of this Chapter. |
663
| >> |
| SECTION 101 :Framing of guidelines. |
663
| >> |
| SECTION 102 :Definitions |
663
| >> |
Chapter XI--Additional Income-Tax on Undistributed Profits |
665
| >> |
| SECTION 95 :Omitted by the Finance Act, 1965, w.e.f. 1-4-1965 |
665
| >> |
| SECTION 96 :Omitted by the Finance Act, 1965, w.e.f. 1-4-1965 |
665
| >> |
| SECTION 97 :Omitted by the Finance Act, 1965, w.e.f. 1-4-1965 |
665
| >> |
| SECTION 98 :Omitted by the Finance Act, 1965, w.e.f. 1-4-1965 |
665
| >> |
| SECTION 99 :Omitted by the Finance Act, 1965, w.e.f. 1-4-1965 |
665
| >> |
| SECTION 100 :Omitted by the Finance Act, 1965, w.e.f. 1-4-1965 |
665
| >> |
| SECTION 101 :Omitted by the Finance Act, 1965, w.e.f. 1-4-1965 |
665
| >> |
| SECTION 102 :Omitted by the Finance Act, 1965, w.e.f. 1-4-1965 |
665
| >> |
| SECTION 103 :Omitted by the Finance Act, 1965, w.e.f. 1-4-1965 |
665
| >> |
| SECTION 104 :Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 |
665
| >> |
| SECTION 105 :Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 |
666
| >> |
| SECTION 106 :Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 |
666
| >> |
| SECTION 107 :Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 |
667
| >> |
| SECTION 107A. :Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 |
667
| >> |
| SECTION 108 :Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 |
667
| >> |
| SECTION 109 :Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 |
668
| >> |
Chapter XII--Determination of Tax in Certain Special Cases |
669
| >> |
| SECTION 110 :Determination of tax where total income includes income on which no tax is payable. |
669
| >> |
| SECTION 111 :Tax on accumulated balance of recognised provident fund. |
670
| >> |
| SECTION 111A. :Tax on short-term capital gains in certain cases. |
670
| >> |
| SECTION 112 :Tax on long-term Capital gains. |
671
| >> |
| SECTION 112A. :Tax on long-term capital gains in certain cases. |
674
| >> |
| SECTION 112A. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1989 |
675
| >> |
| SECTION 113 :Tax in the case of block assessment of search cases. |
675
| >> |
| SECTION 114 :Omitted vide Finance (No. 2) Act, 1967, w.e.f. 1-4-1968 |
676
| >> |
| SECTION 115 :Omitted vide Finance Act, 1987, w.e.f. 1-4-1988 |
676
| >> |
| SECTION 115A. :Tax on dividends, royalty and technical service fees in the case of foreign companies. |
676
| >> |
| SECTION 115AB. :Tax on income from units purchased in foreign currency or capital gains arising from their transfer. |
681
| >> |
| SECTION 115AC. :Tax on income from bonds or Global Depository Receipts purch-ased in foreign currency or capital gains arising from their transfer |
682
| >> |
| SECTION 115ACA. :Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer. |
684
| >> |
| SECTION 115AD. :Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer. |
687
| >> |
| SECTION 115B. :Tax on profits and gains of life insurance business. |
689
| >> |
| SECTION 115BA. :Tax on income of certain manufacturing domestic companies. |
689
| >> |
| SECTION 115BAA. :Tax on income of certain domestic companies. |
690
| >> |
| SECTION 115BAB. :Tax on income of new manufacturing domestic companies. |
692
| >> |
| SECTION 115BAC. :Tax on income of individuals, Hindu undivided family and others. |
695
| >> |
| SECTION 115BAD. :Tax on income of certain resident co-operative societies. |
698
| >> |
| SECTION 115BAE. :Tax on income of certain new manufacturing co-operative societies. |
700
| >> |
| 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. |
702
| >> |
| SECTION 115BBA. :Tax on non-resident sportsmen or sports associations. |
702
| >> |
| SECTION 115BBB. :Tax on income from units of an open-ended equity oriented fund of the Unit Trust of India or of Mutual Funds. |
703
| >> |
| SECTION 115BBC. :Anonymous donations to be taxed in certain cases. |
704
| >> |
| SECTION 115BBD. :Tax on certain dividends received from foreign companies |
705
| >> |
| SECTION 115BBDA. :Tax on certain dividends received from domestic companies. |
705
| >> |
| 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 |
706
| >> |
| SECTION 115BBF. :Tax on income from patent. |
707
| >> |
| SECTION 115BBG. :Tax on income from transfer of carbon credits. |
708
| >> |
| SECTION 115BBH. :Tax on income from virtual digital assets. |
708
| >> |
| SECTION 115BBI. :Specified income of certain institutions. |
709
| >> |
| SECTION 115BBJ. :Tax on winnings from online games. |
710
| >> |
Chapter XII-A--Special Provisions Relating to Certain Incomes of Non-Residents |
711
| >> |
| SECTION 115C. :Definitions. |
711
| >> |
| SECTION 115D. :Special provision for computation of total income of non-residents. |
711
| >> |
| SECTION 115E. :Tax on investment income and long-term capital gains. |
712
| >> |
| SECTION 115F. :Capital gains on transfer of foreign exchange assets not to be charged in certain cases. |
712
| >> |
| SECTION 115G. :Return of income not to be filed in certain cases. |
713
| >> |
| SECTION 115H. :Benefit under chapter to be available in certain cases even after the assessee becomes resident. |
713
| >> |
| SECTION 115-I. :Chapter not to apply if the assessee so chooses. |
714
| >> |
Chapter XII-B--Special Provisions Relating to Certain Companies |
715
| >> |
| SECTION 115J. :Special provisions relating to certain companies. |
715
| >> |
| SECTION 115JA. :Deemed income relating to certain companies. |
716
| >> |
| SECTION 115JAA. :Tax credit in respect of tax paid on deemed income relating to certain companies. |
719
| >> |
| SECTION 115JB. :Special provision for payment of tax by certain companies. |
720
| >> |
Chapter XII-BA--Special Provisions Relating to Certain Persons Other Than a Company |
732
| >> |
| SECTION 115JC. :Special provisions for payment of tax by certain persons other than a company. |
732
| >> |
| SECTION 115JD. :Tax credit for alternate minimum tax. |
733
| >> |
| SECTION 115JE. :Application of other provisions of this Act. |
734
| >> |
| SECTION 115JEE. :Application of this Chapter to certain persons. |
734
| >> |
| SECTION 115JF. :Interpretation in this Chapter. |
735
| >> |
Chapter XII-BB--Special Provisions Relating to Conversion of Indian Branch of a Foreign Bank into a Subsidiary Company |
736
| >> |
| SECTION 115JG. :Conversion of an Indian branch of Foreign Company into subsidiary Indian company. |
736
| >> |
Chapter XII-BC--Special Provisions Relating to Foreign Company Said to be Resident in India |
737
| >> |
| SECTION 115JH. :Foreign company said to be resident in India. |
737
| >> |
Chapter XII-C--Special Provisions Relating to Retail Trade, etc. |
738
| >> |
| SECTION 115K. :Omitted vide Finance Act, 1997, w.e.f. 1-4-1998 |
738
| >> |
| SECTION 115L. :Omitted vide Finance Act, 1997, w.e.f. 1-4-1998 |
739
| >> |
| SECTION 115M. :Omitted vide Finance Act, 1997, w.e.f. 1-4-1998 |
739
| >> |
| SECTION 115N. :Omitted vide Finance Act, 1997, w.e.f. 1-4-1998 |
739
| >> |
Chapter XII-D--Special Provisions Relating to Tax on Distributed Profits of Domestic Companies |
740
| >> |
| SECTION 115-O. :Tax on distributed profits of domestic companies. |
740
| >> |
| SECTION 115P. :Interest payable for non-payment of tax by domestic companies. |
743
| >> |
| SECTION 115Q. :When company is deemed to be in default. |
743
| >> |
Chapter XII-DA--Special Provisions Relating to Tax on Distributed Income of Domestic Company for Buy-Back of Shares |
744
| >> |
| SECTION 115QA. :Tax on distributed income to shareholders. |
744
| >> |
| SECTION 115QB. :Interest payable for non-payment of tax by company. |
745
| >> |
| SECTION 115QC. :When company is deemed to be assessee in default. |
745
| >> |
Chapter XII-E--Special Provisions Relating to Tax on Distributed Income |
746
| >> |
| SECTION 115R. :Tax on distributed income to unit holders. |
746
| >> |
| SECTION 115S. :Interest payable for non-payment of tax. |
748
| >> |
| SECTION 115T. :Unit Trust of India or mutual fund to be assessee in default. |
749
| >> |
Chapter XII-EA--Special Provisions Relating to Tax on Distributed Income by Securitisation Trusts |
750
| >> |
| SECTION 115TA. :Tax on distributed income to investors. |
750
| >> |
| SECTION 115TB. :Interest payable for non-payment of tax. |
750
| >> |
| SECTION 115TC. :Securitisation trust to be assessee in default. |
751
| >> |
| SECTION 115TCA. :Tax on income from securitisation trusts. |
751
| >> |
Chapter XII-EB--Special Provisions Relating to Tax on Accreted Income of Certain Trusts and Institutions |
753
| >> |
| SECTION 115TD. :Tax on accreted income. |
753
| >> |
| SECTION 115TE. :Interest payable for non-payment of tax by specified person. |
757
| >> |
| SECTION 115TF. :When specified person is deemed to be assessee in default. |
757
| >> |
Chapter XII-F--Special Provisions relating to tax on Income Received From Venture Capital Companies and Venture Capital Funds |
758
| >> |
| SECTION 115U. :Tax on income in certain cases. |
758
| >> |
Chapter XII-FA--Special Provisions Relating to Business Trusts |
760
| >> |
| SECTION 115UA. :Tax on income of unit holder and business trust. |
760
| >> |
Chapter XII‑FB--Special Provisions Relating to Tax on Income of Investment Funds and Income Received from Such Funds |
761
| >> |
| SECTION 115UB. :Tax on income of investment fund and its unit holders. |
761
| >> |
Chapter XII‑G--Special Provisions Relating to Income of Shipping Companies |
763
| >> |
| A.--Meaning of Certain Expressions |
763
| >> |
| SECTION 115V. :Definitions. |
763
| >> |
| B.--Computation of Tonnage Income from Business of Operating Qualifying Ships |
763
| >> |
| SECTION 115VA. :Computation of profits and gains from the business of operating qualifying ships. |
763
| >> |
| SECTION 115VB. :Operating ships. |
764
| >> |
| SECTION 115VC. :Qualifying company. |
764
| >> |
| SECTION 115VD. :Qualifying ship. |
764
| >> |
| SECTION 115VE. :Manner of computation of income under tonnage tax scheme. |
765
| >> |
| SECTION 115VF. :Tonnage income. |
765
| >> |
| SECTION 115VG. :Computation of tonnage income. |
765
| >> |
| SECTION 115VH. :Calculation in case of joint operation, etc. |
766
| >> |
| SECTION 115V‑I. :Relevant shipping income. |
766
| >> |
| SECTION 115VJ. :Treatment of common costs. |
768
| >> |
| SECTION 115VK. :Depreciation. |
768
| >> |
| SECTION 115VL. :General exclusion of deduction and set off, etc. |
770
| >> |
| SECTION 115VM. :Exclusion of loss. |
770
| >> |
| SECTION 115VN. :Chargeable gains from transfer of tonnage tax assets. |
770
| >> |
| SECTION 115V‑O. :Exclusion from provisions of section 115JB. |
771
| >> |
| C.--Procedure for Option of Tonnage Tax Scheme |
771
| >> |
| SECTION 115VP. :Method and time of opting for tonnage tax scheme. |
771
| >> |
| SECTION 115VQ. :Period for which tonnage tax option to remain in force. |
772
| >> |
| SECTION 115VR. :Renewal of tonnage tax scheme. |
772
| >> |
| SECTION 115VS. :Prohibition to opt for tonnage tax scheme in certain cases. |
772
| >> |
| D.--Conditions for Applicability of Tonnage Tax Scheme |
772
| >> |
| SECTION 115VT. :Transfer of profits to Tonnage Tax Reserve Account. |
772
| >> |
| SECTION 115VU. :Minimum training requirement for tonnage tax company. |
774
| >> |
| SECTION 115VV. :Limit for charter in of tonnage. |
774
| >> |
| SECTION 115VW. :Maintenance and audit of accounts. |
775
| >> |
| SECTION 115VX. :Determination of tonnage. |
775
| >> |
| E.--Amalgamation and Demerger of Shipping Companies |
776
| >> |
| SECTION 115VY. :Amalgamation. |
776
| >> |
| SECTION 115VZ. :Demerger. |
776
| >> |
| F.--Miscellaneous |
776
| >> |
| SECTION 115VZA. :Effect of temporarily ceasing to operate qualifying ships. |
776
| >> |
| G.--Provisions of this Chapter not to Apply in Certain Cases |
777
| >> |
| SECTION 115VZB. :Avoidance of tax. |
777
| >> |
| SECTION 115VZC. :Exclusion from tonnage tax scheme. |
777
| >> |
Chapter XII-H--Income-Tax on Fringe Benefits |
778
| >> |
| A.--Meaning of Certain Expressions |
778
| >> |
| SECTION 115W. :Definitions. |
778
| >> |
| B.--Basis of Charge |
778
| >> |
| SECTION 115WA. :Charge of fringe benefit tax. |
778
| >> |
| SECTION 115WB. :Fringe benefits. |
778
| >> |
| SECTION 115WC. :Value of fringe benefits. |
781
| >> |
| C.--Procedure for Filing of Return in Respect of Fringe Benefits, Assessment and Payment of Tax in Respect Thereof |
783
| >> |
| SECTION 115WD. :Return of fringe benefits. |
783
| >> |
| SECTION 115WE. :Assessment. |
784
| >> |
| SECTION 115WF. :Best judgment assessment. |
786
| >> |
| SECTION 115WG. :Fringe benefits escaping assessment. |
786
| >> |
| SECTION 115WH. :Issue of notice where fringe benefits have escaped assessment. |
787
| >> |
| SECTION 115WI. :Payment of fringe benefit tax. |
787
| >> |
| SECTION 115WJ. :Advance tax in respect of fringe benefits. |
787
| >> |
| SECTION 115WK. :Interest for default in furnishing return of fringe benefits. |
789
| >> |
| SECTION 115WKA. :Recovery of fringe benefit tax by the employer from the employee. |
790
| >> |
| SECTION 115WKB. :Deemed payment of tax by employee. |
790
| >> |
| SECTION 115WL. :Application of other provisions of this Act. |
790
| >> |
| SECTION 115WM. :Chapter XII-H not to apply after a certain date. |
790
| >> |
Chapter XIII--Income-Tax Authorities |
791
| >> |
| A.--Appointment and Control |
791
| >> |
| SECTION 116 :Income-tax authorities. |
791
| >> |
| SECTION 117 :Appointment of income-tax authorities. |
792
| >> |
| SECTION 118 :Control of income-tax authorities. |
792
| >> |
| SECTION 119 :Instructions to subordinate authorities. |
792
| >> |
| SECTION 119A. :Taxpayer’s Charter. |
794
| >> |
| B.--Jurisdiction |
794
| >> |
| SECTION 120 :Jurisdiction of income-tax authorities. |
794
| >> |
| SECTION 121 :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988 |
796
| >> |
| SECTION 121A. :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988 |
796
| >> |
| SECTION 122 :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988 |
796
| >> |
| SECTION 123 :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988 |
796
| >> |
| SECTION 124 :Jurisdiction of assessing officers. |
796
| >> |
| SECTION 125 :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988 |
799
| >> |
| SECTION 125A. :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988 |
799
| >> |
| SECTION 126 :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988 |
800
| >> |
| SECTION 127 :Power to transfer cases. |
800
| >> |
| SECTION 128 :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988 |
802
| >> |
| SECTION 129 :Change of incumbent of an office. |
802
| >> |
| SECTION 130 :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988 |
802
| >> |
| SECTION 130 :Faceless jurisdiction of income-tax authorities. |
803
| >> |
| SECTION 130A. :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988 |
803
| >> |
| C.--Powers |
804
| >> |
| SECTION 131 :Power regarding discovery, production of evidence, etc. |
804
| >> |
| SECTION 132 :Search and Seizure. |
805
| >> |
| SECTION 132A. :Powers to requisition books of account, etc. |
815
| >> |
| SECTION 132B. :Application of seized or requisitioned assets. |
817
| >> |
| SECTION 33 :Power to call for information. |
819
| >> |
| SECTION 133A. :Power of survey. |
821
| >> |
| SECTION 133B. :Power to collect certain information. |
824
| >> |
| SECTION 133C. :Power to call for information by prescribed income-tax authority. |
825
| >> |
| SECTION 134 :Power to inspect registers of companies. |
825
| >> |
| SECTION 135 :Powers 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. |
826
| >> |
| SECTION 135A. :Faceless collection of information. |
827
| >> |
| SECTION 136 :Proceedings before income-tax authorities to be judicial proceedings. |
827
| >> |
| D.--Disclosure of Information |
827
| >> |
| SECTION 137 :Omitted vide Finance Act, 1964, w.e.f. 1-4-1964 |
827
| >> |
| SECTION 138 :Disclosure of information respecting assessees. |
827
| >> |
Chapter XIV--Procedure for Assessment |
829
| >> |
| SECTION 139 :Return of income. |
829
| >> |
| SECTION 139A. :Permanent account number. |
842
| >> |
| SECTION 139AA. :Quoting of Aadhaar number. |
848
| >> |
| SECTION 139B. :Scheme for submission of returns through Tax Return Preparers. |
849
| >> |
| SECTION 139C. :Power of Board to dispense with furnishing documents, etc., with the return. |
850
| >> |
| SECTION 139D. :Filing of return in electronic form. |
850
| >> |
| SECTION 140 :Return by whom to be verified. |
850
| >> |
| SECTION 140A. :Self-assessment. |
852
| >> |
| SECTION 140B. :Tax on updated return. |
855
| >> |
| SECTION 141 :Omitted vide Taxation Laws (Amendment) Act, 1970, w.e.f. 1-4-1971. |
857
| >> |
| SECTION 141A. :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989. |
857
| >> |
| SECTION 142 :Inquiry before assessment. |
858
| >> |
| SECTION 142A. :Estimation of value of assets by Valuation Officer. |
861
| >> |
| SECTION 142B. :Faceless inquiry or valuation. |
862
| >> |
| SECTION 143 :Assessment. |
863
| >> |
| SECTION 144 :Best judgment assessment. |
870
| >> |
| SECTION 144A. :Power of Joint Commissioner to issue directions in certain cases. |
871
| >> |
| SECTION 144B. :Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989 |
872
| >> |
| SECTION 144B. :Faceless assessment. |
872
| >> |
| SECTION 144BA. :Omitted by the Finance Act, 2013 with effect from 1-4-2014 |
886
| >> |
| SECTION 144BA. :Reference to Principal Commissioner or Commissioner in certain cases. |
887
| >> |
| SECTION 144C. :Reference to dispute resolution Panel. |
890
| >> |
| SECTION 145 :Method of accounting. |
893
| >> |
| SECTION 145A. :Method of accounting in certain cases. |
894
| >> |
| SECTION 145B. :Taxability of certain income. |
895
| >> |
| SECTION 146 :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989 |
895
| >> |
| SECTION 147 :Income escaping assessment. |
895
| >> |
| SECTION 148 :Issue of notice where income has escaped assessment. |
896
| >> |
| SECTION 148A. :Conducting inquiry, providing opportunity before issue of notice under section 148. |
899
| >> |
| SECTION 148B. :Prior approval for assessment, reassessment or recomputation in certain cases. |
900
| >> |
| SECTION 149 :Time limit for notice. |
900
| >> |
| SECTION 150 :Provision for cases where assessment is in pursuance of an order on appeal, etc. |
902
| >> |
| SECTION 151 :Sanction for issue of notice. |
903
| >> |
| SECTION 151A. :Faceless assessment of income escaping assessment. |
903
| >> |
| SECTION 152 :Other provisions. |
904
| >> |
| SECTION 153 :Time limit for completion of assessment, reassessment and recomputation. |
904
| >> |
| SECTION 153A. :Assessment in case of search or requisition. |
913
| >> |
| SECTION 153B. :Time limit for completion of assessment under section 153A. |
915
| >> |
| SECTION 153C. :Assessment of income of any other person. |
921
| >> |
| SECTION 153D. :Prior approval necessary for assessment in cases of search or requisition |
923
| >> |
| SECTION 154 :Rectification of mistake. |
923
| >> |
| SECTION 155 :Other amendments. |
925
| >> |
| SECTION 156 :Notice of demand. |
938
| >> |
| SECTION 156A. :Modification and revision of notice in certain cases. |
938
| >> |
| SECTION 157 :Intimation of loss. |
939
| >> |
| SECTION 157A. :Faceless rectification, amendments and issuance of notice or intimation. |
939
| >> |
| SECTION 158 :Intimation of assessment of firm. |
939
| >> |
Chapter XIV-A--Special Provision for Avoiding Repetitive Appeals |
940
| >> |
| SECTION 158A. :Procedure when assessee claims identical question of law is pending before High Court or Supreme Court. |
940
| >> |
| SECTION 158AA. :Procedure when in an appeal by revenue an identical question of law is pending before Supreme Court. |
941
| >> |
| SECTION 158AB. :Procedure where an identical question of law is pending before High Courts or Supreme Court. |
942
| >> |
Chapter XIV-B--Special Procedure for Assessment of Search Cases |
944
| >> |
| SECTION 158B. :Definitions. |
944
| >> |
| SECTION 158BA. :Assessment of undisclosed income as a result of search. |
944
| >> |
| SECTION 158BB. :Computation of undisclosed income of the block period. |
945
| >> |
| SECTION 158BC. :Procedure for block assessment. |
947
| >> |
| SECTION 158BD. :Undisclosed income of any other person. |
948
| >> |
| SECTION 158BE. :Time limit for completion of block assessment. |
948
| >> |
| SECTION 158BF. :Certain interests and penalties not to be levied or imposed. |
949
| >> |
| SECTION 158BFA. :Levy of interest and penalty in certain cases. |
950
| >> |
| SECTION 158BG. :Authority competent to make block assessment. |
951
| >> |
| SECTION 158BH. :Application of other provisions of this act. |
952
| >> |
| SECTION 158B-I. :Chapter not to apply after certain date. |
952
| >> |
Chapter XV--Liability in Special Cases |
953
| >> |
| A.--Legal Representatives |
953
| >> |
| SECTION 159 :Legal representatives. |
953
| >> |
| B.--Representative Assessees : General Provisions |
953
| >> |
| SECTION 160 :Representative assessee. |
953
| >> |
| SECTION 161 :Liability of representative assessee. |
954
| >> |
| SECTION 162 :Right of representative assessee to recover tax paid. |
955
| >> |
| C.--Representative Assessees : Special Cases |
955
| >> |
| SECTION 163 :Who may be regarded as agent. |
955
| >> |
| SECTION 164 :Charge of tax where share of beneficiaries unknown. |
956
| >> |
| SECTION 164A. :Charge of tax in case of oral trust. |
959
| >> |
| SECTION 165 :Case where part of trust income is chargeable. |
959
| >> |
| D.--Representative Assessees--Miscellaneous Provisions |
960
| >> |
| SECTION 166 :Direct assessment or recovery not barred. |
960
| >> |
| SECTION 167 :Remedies against property in cases of representative assessees. |
960
| >> |
| DD.--Firms, Association of Person and Body of Individuals |
960
| >> |
| SECTION 167A. :Charge of tax in the case of a firm. |
960
| >> |
| SECTION 167B. :Charge of tax where shares of members in association of persons or body of individuals unknown, etc. |
960
| >> |
| SECTION 167C. :Liability of partners of limited liability partnership in liquidation. |
961
| >> |
| E.--Executors |
961
| >> |
| SECTION 168 :Executors. |
961
| >> |
| SECTION 169 :Right of executor to recover tax paid. |
962
| >> |
| F.--Succession to Business or Profession |
962
| >> |
| SECTION 170 :Succession to business otherwise than on death. |
962
| >> |
| SECTION 170A. :Effect of order of tribunal or court in respect of business reorganisation. |
963
| >> |
| G.--Partition |
964
| >> |
| SECTION 171 :Assessment after partition of a Hindu undivided family. |
964
| >> |
| H.--Profits on Non-Residents from Occasional Shipping Business |
966
| >> |
| SECTION 172 :Shipping business of non-residents. |
966
| >> |
| I.--Recovery of Tax in Respect of Non-Residents |
967
| >> |
| SECTION 173 :Recovery of tax in respect of non-resident from his assets. |
967
| >> |
| J.--Persons Leaving India |
967
| >> |
| SECTION 174 :Assessment of persons leaving India. |
967
| >> |
| JA.--Association of Persons or Body of Individuals or Artificial Juridical Person Formed for a Particular Event or Purpose |
969
| >> |
| SECTION 174A. :Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose. |
969
| >> |
| K.--Persons Trying to Alienate their Assets |
969
| >> |
| SECTION 175 :Assessment of persons likely to transfer property to avoid tax. |
969
| >> |
| L.--Discontinuance of Business, or Dissolution |
969
| >> |
| SECTION 176 :Discontinued business. |
969
| >> |
| SECTION 177 :Association dissolved or business discontinued. |
970
| >> |
| SECTION 178 :Company in liquidation. |
971
| >> |
| M.--Private Companies |
972
| >> |
| SECTION 179 :Liability of directors of private company. |
972
| >> |
| N.--Special Provisions for Certain kinds of Income |
973
| >> |
| SECTION 180 :Royalties or copyright fees for literary or artistic work. |
973
| >> |
| SECTION 180A. :Consideration for know-how. |
973
| >> |
| O.--Liability of State Government |
974
| >> |
| SECTION 181 :Omitted vide Finance Act, 1988, w.e.f. 1-4-1989 |
974
| >> |
Chapter XVI--Special Provisions Applicable to Firms |
975
| >> |
| A.--Assessment of Firms |
975
| >> |
| SECTION 182 :Omitted vide Finance Act, 1992, w.e.f. 1-4-1993 |
975
| >> |
| SECTION 183 :Omitted vide Finance Act, 1992, w.e.f. 1-4-1993 |
975
| >> |
| SECTION 184 :Assessment as a firm. |
975
| >> |
| SECTION 185 :Assessment when section 184 not complied with. |
978
| >> |
| C.--Change in Constitution, Succession and Dissolution |
978
| >> |
| SECTION 187 :Change in constitution of a firm. |
978
| >> |
| SECTION 188 :Succession of one firm by another firm. |
979
| >> |
| SECTION 188A. :Joint and several liability of partners for tax payable by firm. |
979
| >> |
| SECTION 189 :Firm dissolved or business discontinued. |
979
| >> |
| SECTION 189A. :Provisions applicable to past assessments of firms. |
980
| >> |
Chapter XVII--Collection and Recovery of Tax |
981
| >> |
| A.--General |
981
| >> |
| SECTION 190 :Deduction at source and advance payment. |
981
| >> |
| SECTION 191 :Direct payment. |
981
| >> |
| B.--Deduction at Source |
982
| >> |
| SECTION 192 :Salary. |
982
| >> |
| SECTION 192A. :Payment of accumulated balance due to an employee. |
985
| >> |
| SECTION 193 :Interest on securities. |
985
| >> |
| SECTION 194 :Dividends. |
988
| >> |
| SECTION 194A. :Interest other than “interest on securities”. |
989
| >> |
| SECTION 194B. :Winnings from lottery or crossword puzzle, etc. |
995
| >> |
| SECTION 194BA. :Winnings from online games. |
995
| >> |
| SECTION 194BB. :Winnings from horse race. |
996
| >> |
| SECTION 194C. :Payments to contractors. |
996
| >> |
| SECTION 194D. :Insurance commission. |
1000
| >> |
| SECTION 194DA. :Payment in respect of life insurance policy. |
1000
| >> |
| SECTION 194E. :Payments to non-resident sportsmen or sports associations. |
1001
| >> |
| SECTION 194EE. :Payments in respect of deposits under National Savings Scheme, etc. |
1001
| >> |
| SECTION 194F. :Payments on account of repurchase of units by Mutual Fund or Unit Trust of India. |
1001
| >> |
| SECTION 194G. :Commission, etc., on the sale of lottery tickets. |
1001
| >> |
| SECTION 194H. :Commission or brokerage. |
1002
| >> |
| SECTION 194-I. :Rent. |
1003
| >> |
| SECTION 194-IA. :Payment on transfer of certain immovable property other than agricultural land. |
1005
| >> |
| SECTION 194-IB. :Payment of rent by certain individuals or Hindu undivided family. |
1005
| >> |
| SECTION 194-IC. :Payment under specified agreement. |
1006
| >> |
| SECTION 194J. :Fees for professional or technical services. |
1006
| >> |
| SECTION 194K. :Omitted vide Finance Act, 2016, effective from 1-6-2016 |
1008
| >> |
| SECTION 194K. :Income in respect of units. |
1008
| >> |
| SECTION 194L. :Omitted vide Finance Act, 2016, effective from 1-6-2016 |
1009
| >> |
| SECTION 194LA. :Payment of compensation on acquisition of certain immovable property. |
1009
| >> |
| SECTION 194LB. :Income by way of interest from infrastructure debt fund. |
1010
| >> |
| SECTION 194LBA. :Certain income from units of a business trust. |
1010
| >> |
| SECTION 194LBB. :Income in respect of units of investment fund. |
1011
| >> |
| SECTION 194LBC. :Income in respect of investment in securitisation trust. |
1011
| >> |
| SECTION 194LC. :Income by way of interest from Indian Company. |
1012
| >> |
| SECTION 194LD. :Income by way of interest on certain bonds and Government securities |
1014
| >> |
| SECTION 194M. :Payment of certain sums by certain individuals or Hindu undivided family. |
1014
| >> |
| SECTION 194N. :Payment of certain amounts in cash. |
1015
| >> |
| SECTION 194-O. :Payment of certain sums by e-commerce operator to e-commerce participant. |
1017
| >> |
| SECTION 194-P. :Deduction of tax in case of specified senior citizen. |
1018
| >> |
| SECTION 194-Q. :Deduction of tax at source on payment of certain sum for purchase of goods. |
1018
| >> |
| SECTION 194-R. :Deduction of tax on benefit or perquisite in respect of business or profession. |
1019
| >> |
| SECTION 194-S. :Payment on transfer of virtual digital asset. |
1020
| >> |
| SECTION 195 :Other sums. |
1021
| >> |
| SECTION 195A. :Income payable “net of tax”. |
1023
| >> |
| SECTION 196 :Interest or dividend or other sums payable to Government, Reserve Bank or certain corporations. |
1024
| >> |
| SECTION 196A. :Income in respect of units of non-residents. |
1024
| >> |
| SECTION 196B. :Income from units. |
1025
| >> |
| SECTION 196C. :Income from foreign currency bonds or shares of Indian company. |
1025
| >> |
| SECTION 196D. :Income of foreign institutional investors from securities. |
1026
| >> |
| SECTION 197 :Certificate for deduction at lower rate. |
1027
| >> |
| SECTION 197A. :No deduction to be made in certain cases. |
1028
| >> |
| SECTION 197B. :Lower deduction in certain cases for a limited period. |
1030
| >> |
| SECTION 198 :Tax deducted is income received. |
1030
| >> |
| SECTION 199 :Credit for tax deducted. |
1031
| >> |
| SECTION 200 :Duty of person deducting tax. |
1031
| >> |
| SECTION 200A. :Processing of statements of tax deducted at source. |
1032
| >> |
| SECTION 201 :Consequences of failure to deduct or pay. |
1033
| >> |
| SECTION 202 :Deduction only one mode of recovery. |
1035
| >> |
| SECTION 203 :Certificate for tax deducted. |
1036
| >> |
| SECTION 203A. :Tax deduction and collection account number. |
1036
| >> |
| SECTION 204 :Meaning of “person responsible for paying”. |
1037
| >> |
| SECTION 205 :Bar against direct demand on assessee. |
1038
| >> |
| SECTION 206 :Persons deducting tax to furnish prescribed returns. |
1039
| >> |
| SECTION 206A. :Omitted vide Finance (No. 2) Act, 1996, w.e.f. 1-10-1996 |
1040
| >> |
| SECTION 206A. :Furnishing of statement in respect of payment of any income to residents without deduction of tax. |
1041
| >> |
| SECTION 206AA. :Requirement to furnish Permanent Account Number. |
1041
| >> |
| SECTION 206AB. :Special provision for deduction of tax at source for non-filers of income-tax return. |
1042
| >> |
| SECTION 206B. :Omitted vide Finance (No. 2) Act, 1996, w.e.f. 1-10-1996 |
1043
| >> |
| BB.--Collection at Source |
1043
| >> |
| SECTION 206C. :Profits and gains from the business of trading in alcoholic liquor, forest produce, scrap, etc. |
1043
| >> |
| SECTION 206CA. :Tax collection account number. |
1054
| >> |
| SECTION 206CB. :Processing of statements of tax collected at source. |
1055
| >> |
| SECTION 206CC. :Requirement to furnish Permanent Account Number by collectee. |
1056
| >> |
| SECTION 206CCA. :Special provision for collection of tax at source for non-filers of income-tax return. |
1056
| >> |
| C.--Advance Payment of Tax |
1057
| >> |
| SECTION 207 :Liability for payment of advance tax. |
1057
| >> |
| SECTION 208 :Conditions of liability to pay advance tax. |
1058
| >> |
| SECTION 209 :Computation of advance tax. |
1058
| >> |
| SECTION 209A. :Omitted vide direct tax laws (Amendment) Act, 1987, w.e.f. 1-4-1988 |
1061
| >> |
| SECTION 210 :Payment of advance tax by the assessee of his own accord or in pursuance of order of assessing officer. |
1062
| >> |
| SECTION 211 :Instalments of advance tax and due dates. |
1064
| >> |
| SECTION 212 :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988 |
1065
| >> |
| SECTION 213 :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988 |
1066
| >> |
| SECTION 214 :Interest payable by government. |
1066
| >> |
| SECTION 215 :Interest payable by assessee. |
1068
| >> |
| SECTION 216 :Interest payable by assessee in case of under-estimate, etc. |
1069
| >> |
| SECTION 217 :Interest payable by assessee when no estimate made. |
1070
| >> |
| SECTION 218 :When assessee deemed to be in default. |
1070
| >> |
| SECTION 219 :Credit for advance tax. |
1071
| >> |
| D.--Collection and Recovery |
1071
| >> |
| SECTION 220 :When tax payable and when assessee deemed in default. |
1071
| >> |
| SECTION 221 :Penalty payable when tax in default. |
1074
| >> |
| SECTION 222 :Certificate by tax recovery officer. |
1075
| >> |
| SECTION 223 :Tax recovery officer by whom recovery is to be effected. |
1076
| >> |
| SECTION 224 :Validity of certificate and cancellation or amendment thereof. |
1077
| >> |
| SECTION 225 :Stay of proceedings in pursuance of certificate and amendment or cancellation thereof. |
1077
| >> |
| SECTION 226 :Other modes of recovery. |
1078
| >> |
| SECTION 227 :Recovery through State Government. |
1080
| >> |
| SECTION 228 :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989 |
1080
| >> |
| SECTION 228A. :Recovery of tax in pursuance of agreements with foreign countries. |
1081
| >> |
| SECTION 229 :Recovery of penalties, fine, interest and other sums. |
1081
| >> |
| SECTION 230 :Tax clearance certificate. |
1082
| >> |
| SECTION 230A. :Omitted vide Finance Act, 2001, effective from 1-6-2001 |
1083
| >> |
| SECTION 231 :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989 |
1084
| >> |
| SECTION 231 :Faceless collection and recovery of tax. |
1084
| >> |
| SECTION 232 :Recovery by suit or under other law not affected. |
1085
| >> |
| E.--Tax Payable under Provisional Assessment |
1085
| >> |
| SECTION 233 :Omitted vide Taxation Laws (Amendment) Act, 1970, w.e.f. 1-4-1971 |
1085
| >> |
| SECTION 234 :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989 |
1085
| >> |
| F.--Interest Chargeable in Certain Cases |
1085
| >> |
| SECTION 234A. :Interest for defaults in furnishing return of income. |
1085
| >> |
| SECTION 234B. :Interest for defaults in payment of advance tax. |
1088
| >> |
| SECTION 234C. :Interest for deferment of advance tax. |
1090
| >> |
| SECTION 234D. :Interest on excess refund. |
1094
| >> |
| G.--Levy of Fee in Certain Cases |
1094
| >> |
| SECTION 234E. :Fee for defaults in furnishing statements. |
1094
| >> |
| SECTION 234F. :Fee for default in furnishing return of income. |
1095
| >> |
| SECTION 234G. :Fee for default relating to statement or certificate. |
1095
| >> |
| SECTION 234H. :Fee for default relating to intimation of Aadhaar number. |
1095
| >> |
Chapter XVIII--Relief Respecting Tax on Dividends in Certain Cases |
1096
| >> |
| SECTION 235 :Omitted vide Finance (No. 2) Act, 1971, w.e.f. 1-4-1972 |
1096
| >> |
| SECTION 236 :Relief to company in respect of dividend paid out of past taxed profits. |
1096
| >> |
| SECTION 236A. :Relief to certain charitable institutions or funds in respect of certain dividends. |
1097
| >> |
Chapter XIX--Refunds |
1098
| >> |
| SECTION 237 :Refunds. |
1098
| >> |
| SECTION 238 :Person entitled to claim refund in certain special cases. |
1098
| >> |
| SECTION 239 :Form of claim for refund and limitation. |
1098
| >> |
| SECTION 239A. :Refund for denying liability to deduct tax in certain cases. |
1098
| >> |
| SECTION 240 :Refund on appeal, etc. |
1099
| >> |
| SECTION 241 :Omitted vide Finance Act, 2001, effective from 1-6-2001 |
1099
| >> |
| SECTION 241A. :Withholding of refund in certain cases. |
1100
| >> |
| SECTION 242 :Correctness of assessment not to be questioned. |
1100
| >> |
| SECTION 243 :Interest on delayed refunds. |
1100
| >> |
| SECTION 244 :Interest on refund where no claim is needed. |
1101
| >> |
| SECTION 244A. :Interest on refunds. |
1102
| >> |
| SECTION 245 :Set off and withholding of refunds in certain cases. |
1104
| >> |
Chapter XIX-A--Settlement of Cases |
1105
| >> |
| SECTION 245A. :Definitions. |
1105
| >> |
| SECTION 245AA. :Interim Boards for Settlement. |
1107
| >> |
| SECTION 245B. :Income-tax Settlement Commission. |
1107
| >> |
| SECTION 245BA. :Jurisdiction and powers of Settlement Commission. |
1108
| >> |
| SECTION 245BB. :Vice-chairman to act as Chairman or to discharge his functions in certain circumstances. |
1109
| >> |
| SECTION 245BC. :Power of Chairman to transfer cases from one bench to another. |
1109
| >> |
| SECTION 245BD. :Decision to be by majority. |
1109
| >> |
| SECTION 245C. :Application for settlement of cases. |
1109
| >> |
| SECTION 245D. :Procedure on receipt of an application under section 245C. |
1113
| >> |
| SECTION 245DD. :Power of Settlement Commission to order provisional attachment to protect revenue. |
1119
| >> |
| SECTION 245E. :Power of Settlement Commission to reopen completed proceedings. |
1119
| >> |
| SECTION 245F. :Powers and procedure of Settlement Commission. |
1120
| >> |
| SECTION 245G. :Inspection, etc., of reports. |
1121
| >> |
| SECTION 245H. :Power of Settlement Commission to grant immunity from prosecution and penalty. |
1122
| >> |
| SECTION 245HA. :Abatement of proceeding before Settlement Commission. |
1123
| >> |
| SECTION 245HAA. :Credit for tax paid in case of abatement of proceedings |
1124
| >> |
| SECTION 245-I. :Order of settlement to be conclusive. |
1124
| >> |
| SECTION 245J. :Recovery of sums due under order of settlement. |
1124
| >> |
| SECTION 245K. :Bar on subsequent application for settlement. |
1125
| >> |
| SECTION 245L. :Proceedings before Settlement Commission to be judicial proceedings. |
1126
| >> |
| SECTION 245M. :Option to withdraw pending application. |
1126
| >> |
| SECTION 245M. :Omitted vide Finance Act, 1987, w.e.f. 1-6-1987 |
1127
| >> |
Chapter XIX-AA--Dispute Resolution Committee in Certain Cases |
1128
| >> |
| SECTION 245MA. :Dispute Resolution Committee. |
1128
| >> |
Chapter XIX-B--Advance Rulings |
1131
| >> |
| SECTION 245N. :Definitions. |
1131
| >> |
| SECTION 245-O. :Authority for Advance Rulings. |
1133
| >> |
| SECTION 245-OA. :Qualifications, terms and conditions of service of Chairman, Vice-Chairman and Members. |
1135
| >> |
| SECTION 245-OB. :Board for Advance Rulings. |
1135
| >> |
| SECTION 245P. :Vacancies, etc., not to invalidate proceedings. |
1135
| >> |
| SECTION 245Q. :Application for advance ruling. |
1135
| >> |
| SECTION 245R. :Procedure on receipt of application. |
1136
| >> |
| SECTION 245RR. :Appellate authority not to proceed in certain cases. |
1137
| >> |
| SECTION 245S. :Applicability of advance ruling. |
1138
| >> |
| SECTION 245T. :Advance ruling to be void in certain circumstances. |
1138
| >> |
| SECTION 245U. :Powers of the Authority. |
1138
| >> |
| SECTION 245V. :Procedure of Authority. |
1139
| >> |
| SECTION 245W. :Appeal. |
1139
| >> |
Chapter XX--Appeals and Revision |
1140
| >> |
| A.--Appeals to the Joint Commissioner (Appeals) and Commissioner (Appeals) |
1140
| >> |
| SECTION 246 :Appealable orders before Joint Commissioner (Appeals). |
1140
| >> |
| SECTION 246A. :Appealable orders before Commissioner (Appeals). |
1142
| >> |
| SECTION 247 :Omitted vide Finance Act, 1992, w.e.f. 1-4-1993 |
1145
| >> |
| SECTION 248 :Appeal by person denying liability to deduct tax in certain cases. |
1146
| >> |
| SECTION 249 :Form of appeal and limitation. |
1146
| >> |
| SECTION 250 :Procedure in appeal. |
1147
| >> |
| SECTION 251 :Powers of the Joint Commissioner (Appeals) or the Commissioner (Appeals) |
1150
| >> |
| B.--Appeals to the Appellate Tribunal |
1151
| >> |
| SECTION 252 :Appellate Tribunal. |
1151
| >> |
| SECTION 252A. :Qualifications, terms and conditions of service of President, Vice-President and Member. |
1152
| >> |
| SECTION 253 :Appeals to the Appellate Tribunal. |
1152
| >> |
| SECTION 254 :Orders of Appellate Tribunal. |
1156
| >> |
| SECTION 255 :Procedure of Appellate Tribunal. |
1158
| >> |
| C.--Reference to High Court |
1160
| >> |
| SECTION 256 :Statement of case to the High Court. |
1160
| >> |
| SECTION 257 :Statement of case to Supreme Court in certain cases. |
1160
| >> |
| SECTION 258 :Power of High Court or Supreme Court to require statement to be amended. |
1161
| >> |
| SECTION 259 :Case before High Court to be heard by not less than two judges. |
1161
| >> |
| SECTION 260 :Decision of High Court or Supreme Court on the case stated. |
1161
| >> |
| CC.--Appeals to High Court |
1162
| >> |
| SECTION 260A. :Appeal to High Court. |
1162
| >> |
| SECTION 260B. :Cases before High Court to be heard by not less than two Judges. |
1163
| >> |
| D.--Appeals to the Supreme Court |
1163
| >> |
| SECTION 261 :Appeal to Supreme Court. |
1163
| >> |
| SECTION 262 :Hearing before Supreme Court. |
1163
| >> |
| E.--Revision by the Commissioner |
1163
| >> |
| SECTION 263 :Revision of orders prejudicial to revenue. |
1163
| >> |
| SECTION 264 :Revision of other orders. |
1166
| >> |
| SECTION 264A. :Faceless revision of orders. |
1168
| >> |
| SECTION 264B. :Faceless effect of orders. |
1168
| >> |
| F.--General |
1168
| >> |
| SECTION 265 :Tax to be paid notwithstanding reference, etc. |
1168
| >> |
| SECTION 266 :Execution for costs awarded by the Supreme Court. |
1169
| >> |
| SECTION 267 :Amendment of assessment on appeal. |
1169
| >> |
| SECTION 268 :Exclusion of time taken for copy. |
1169
| >> |
| SECTION 268A. :Filing of appeal or application for reference by income-tax authority. |
1169
| >> |
| SECTION 269 :Definition of “High Court”. |
1170
| >> |
Chapter XX-A--Acquisition of Immovable Properties in Certain Cases of Transfer to Counteract Evasion of Tax |
1171
| >> |
| SECTION 269A. :Definitions. |
1171
| >> |
| SECTION 269AB. :Registration of certain transactions. |
1174
| >> |
| SECTION 269B. :Competent authority. |
1174
| >> |
| SECTION 269C. :Immovable property in respect of which proceedings for acquisition may be taken. |
1175
| >> |
| SECTION 269D. :Preliminary notice. |
1176
| >> |
| SECTION 269E. :Objections. |
1177
| >> |
| SECTION 269F. :Hearing of objections. |
1177
| >> |
| SECTION 269G. :Appeal against order for acquisition. |
1178
| >> |
| SECTION 269H. :Appeal to High Court. |
1179
| >> |
| SECTION 269-I. :Vesting of property in Central Government. |
1180
| >> |
| SECTION 269J. :Compensation. |
1181
| >> |
| SECTION 269K. :Payment or deposit of compensation. |
1183
| >> |
| SECTION 269L. :Assistance by Valuation Officers. |
1184
| >> |
| SECTION 269M. :Powers of competent authority. |
1184
| >> |
| SECTION 269N. :Rectification of mistakes. |
1184
| >> |
| SECTION 269-O. :Appearance by authorised representative or registered valuer. |
1185
| >> |
| SECTION 269P. :Statement to be furnished in respect of transfers of immovable property. |
1185
| >> |
| SECTION 269Q. :Chapter not to apply to transfers to relatives. |
1186
| >> |
| SECTION 269R. :Properties liable for acquisition under this Chapter not to be acquired under other laws. |
1186
| >> |
| SECTION 269RR. :Chapter not to apply where transfer of immovable property made after a certain date. |
1186
| >> |
| SECTION 269S. :Chapter not to extend to State of Jammu and Kashmir. |
1186
| >> |
Chapter XX-B--Requirement as to Mode of Acceptance, Payment or Repayment in Certain Cases to Counteract Evasion of Tax |
1187
| >> |
| SECTION 269SS. :Mode of taking or accepting certain loans, deposits and specified sum. |
1187
| >> |
| SECTION 269ST. :Mode of undertaking transactions. |
1188
| >> |
| SECTION 269SU. :Acceptance of payment through prescribed electronic modes. |
1189
| >> |
| SECTION 269T. :Mode of repayment of certain loans or deposits. |
1189
| >> |
| SECTION 269TT. :Mode of repayment of special bearer bonds, 1991. |
1191
| >> |
Chapter XX-C--Purchase by Central Government of Immovable Properties in Certain Cases of Transfer |
1192
| >> |
| SECTION 269U. :Commencement of Chapter. |
1192
| >> |
| SECTION 269UA. :Definitions. |
1192
| >> |
| SECTION 269UB. :Appropriate authority. |
1194
| >> |
| SECTION 269UC. :Restrictions on transfer of immovable property. |
1195
| >> |
| SECTION 269UD. :Order by appropriate authority for purchase by Central Government of immovable property. |
1196
| >> |
| SECTION 269UE. :Vesting of property in Central Government. |
1197
| >> |
| SECTION 269UF. :Consideration for purchase of immovable property by Central Government. |
1198
| >> |
| SECTION 269UG. :Payment or deposit of consideration. |
1198
| >> |
| SECTION 269UH. :Re-vesting of property in the transferor on failure of payment or deposit of consideration. |
1199
| >> |
| SECTION 269U-I. :Powers of the appropriate authority. |
1200
| >> |
| SECTION 269UJ. :Rectification of mistakes. |
1200
| >> |
| SECTION 269UK. :Restrictions on revocation or alteration of certain agreements for the transfer of immovable property or on transfer of certain immovable property. |
1200
| >> |
| SECTION 269UL. :Restrictions on registration, etc., of documents in respect of transfer of immovable property. |
1200
| >> |
| SECTION 269UM. :Immunity to transferor against claims of transferee for transfer. |
1201
| >> |
| SECTION 269UN. :Order of appropriate authority to be final and conclusive. |
1201
| >> |
| SECTION 269U-O. :Chapter not to apply to certain transfers. |
1201
| >> |
| SECTION 269UP. :Chapter not to apply where transfer of immovable property effected after certain date. |
1201
| >> |
Chapter XXI--Penalties Imposable |
1202
| >> |
| SECTION 270 :Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989 |
1202
| >> |
| SECTION 270A. :Penalty for under-reporting and misreporting of income. |
1202
| >> |
| SECTION 270AA. :Immunity from imposition of penalty, etc. |
1206
| >> |
| SECTION 271 :Failure to furnish returns, comply with notices, concealment of income, etc. |
1206
| >> |
| SECTION 271A. :Failure to keep, maintain or retain books of account, documents, etc. |
1214
| >> |
| SECTION 271AA. :Penalty for failure to keep and maintain information and document, etc., in respect of certain transactions. |
1214
| >> |
| SECTION 271AAA. :Penalty where search has been initiated. |
1215
| >> |
| SECTION 271AAB. :Penalty where search has been initiated. |
1216
| >> |
| SECTION 271AAC. :Penalty in respect of certain income. |
1218
| >> |
| SECTION 271AAD. :Penalty for false entry, etc. in books of account. |
1219
| >> |
| SECTION 271AAE. :Benefits to related persons. |
1219
| >> |
| SECTION 271B. :Failure to get accounts audited. |
1220
| >> |
| SECTION 271BA. :Penalty for failure to furnish report under section 92E. |
1220
| >> |
| SECTION 271BB. :Failure to subscribe to the eligible issue of capital. |
1220
| >> |
| SECTION 271C. :Penalty for failure to deduct tax at source. |
1220
| >> |
| SECTION 271CA. :Penalty for failure to collect tax at source. |
1221
| >> |
| SECTION 271D. :Penalty for failure to comply with the provisions of section 269SS. |
1221
| >> |
| SECTION 271DA. :Penalty for failure to comply with provisions of section 269ST. |
1221
| >> |
| SECTION 271DB. :Penalty for failure to comply with provisions of section 269SU. |
1222
| >> |
| SECTION 271E. :Penalty for failure to comply with the provisions of section 269T. |
1222
| >> |
| SECTION 271F. :Penalty for failure to furnish return of income. |
1222
| >> |
| SECTION 271FA. :Penalty for failure to furnish statement of financial transaction or reportable account. |
1223
| >> |
| SECTION 271FAA. :Penalty for furnishing inaccurate statement of financial transaction or reportable account. |
1223
| >> |
| SECTION 271FAB. :Penalty for failure to furnish statement or information or document by an eligible investment fund. |
1224
| >> |
| SECTION 271FB. :Penalty for failure to furnish return of fringe benefits. |
1224
| >> |
| SECTION 271G. :Penalty for failure to furnish information or document under section 92D. |
1224
| >> |
| SECTION 271GA. :Penalty for failure to furnish information or document under section 285A. |
1224
| >> |
| SECTION 271GB. :Penalty for failure to furnish report or for furnishing inaccurate report under section 286. |
1225
| >> |
| SECTION 271H. :Penalty for failure to furnish statements, etc. |
1226
| >> |
| SECTION 271-I. :Penalty for failure to furnish information or furnishing inaccurate information under section 195. |
1226
| >> |
| SECTION 271-J. :Penalty for furnishing incorrect information in reports or certificates. |
1226
| >> |
| SECTION 271K. :Penalty for failure to furnish statements. |
1227
| >> |
| SECTION 272 :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989 |
1227
| >> |
| SECTION 272A. :Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc. |
1227
| >> |
| SECTION 272AA. :Penalty for failure to comply with the provisions of section 133B. |
1230
| >> |
| SECTION 272B. :Penalty for failure to comply with the provisions of section 139A. |
1231
| >> |
| SECTION 272BB. :Penalty for failure to comply with the provisions of section 203A. |
1232
| >> |
| SECTION 272BBB. :Penalty for failure to comply with the provisions of section 206CA. |
1232
| >> |
| SECTION 273 :False estimate of, or failure to pay, advance tax. |
1232
| >> |
| SECTION 273A. :Power to reduce or waive penalty, etc., in certain cases. |
1235
| >> |
| SECTION 273AA. :Power of Principal Commissioner or Commissioner to grant immunity from penalty. |
1238
| >> |
| SECTION 273B. :Penalty not to be imposed in certain cases. |
1239
| >> |
| SECTION 274 :Procedure. |
1240
| >> |
| SECTION 275 :Bar of limitation for imposing penalties. |
1241
| >> |
Chapter XXII--Offences and Prosecutions |
1244
| >> |
| SECTION 275A. :Contravention of order made under sub-section (3) of section 132. |
1244
| >> |
| SECTION 275B. :Failure to comply with the provisions of clause (iib) of sub-section (1) of section 132. |
1244
| >> |
| SECTION 276 :Removal, concealment, transfer or delivery of property to thwart tax recovery. |
1244
| >> |
| SECTION 276A. :Failure to comply with the provisions of sub-sections (1) and (3) of section 178. |
1244
| >> |
| SECTION 276AA. :Omitted vide Finance Act, 1986, w.e.f. 1-10-1986 |
1245
| >> |
| SECTION 276AB. :Failure to comply with the provisions of sections 269UC, 269UE and 269UL. |
1245
| >> |
| SECTION 276B. :Failure to pay tax to the credit of central government under Chapter XII-D or XVII-B. |
1245
| >> |
| SECTION 276BB. :Failure to pay the tax collected at source. |
1246
| >> |
| SECTION 276C. :Wilful attempt to evade tax, etc. |
1246
| >> |
| SECTION 276CC. :Failure to furnish returns of income. |
1247
| >> |
| SECTION 276CCC. :Failure to furnish return of income in search cases. |
1247
| >> |
| SECTION 276D. :Failure to produce accounts and documents. |
1248
| >> |
| SECTION 276DD. :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989 |
1248
| >> |
| SECTION 276E. :Omitted vide Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989 |
1248
| >> |
| SECTION 277 :False statement in verification, etc. |
1248
| >> |
| SECTION 277A. :Falsification of books of account or document, etc. |
1249
| >> |
| SECTION 278 :Abetment of false return, etc. |
1249
| >> |
| SECTION 278A. :Punishment for second and subsequent offences. |
1249
| >> |
| SECTION 278AA. :Punishment not to be imposed in certain cases. |
1250
| >> |
| SECTION 278AB. :Power of Principal Commissioner or Commissioner to grant immunity from prosecution. |
1250
| >> |
| SECTION 278B. :Offences by companies. |
1251
| >> |
| SECTION 278C. :Offences by Hindu undivided families. |
1251
| >> |
| SECTION 278D. :Presumption as to assets, books of account, etc., in certain cases. |
1252
| >> |
| SECTION 278E. :Presumption as to culpable mental state. |
1252
| >> |
| SECTION 279 :Prosecution to be at instance of Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner. |
1252
| >> |
| SECTION 279A. :Certain offences to be non-cognizable. |
1254
| >> |
| SECTION 279B. :Proof of entries in records or documents. |
1254
| >> |
| SECTION 280 :Disclosure of particulars by public servants. |
1255
| >> |
| SECTION 280A. :Special Courts. |
1255
| >> |
| SECTION 280B. :Offences triable by Special Court. |
1255
| >> |
| SECTION 280C. :Trial of offences as summons case. |
1256
| >> |
| SECTION 280D. :Application of code of Criminal Procedure, 1973 to proceedings before Special Court. |
1256
| >> |
Chapter XXII-A--Annuity Deposits |
1257
| >> |
| SECTION 280E. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280F. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280G. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280H. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280-I. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280J. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280K. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280L. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280M. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280N. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280-O. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280P. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280Q. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280R. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280S. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280T. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280U. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280V. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280W. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
| SECTION 280X. :Omitted vide Finance Act, 1988, w.e.f. 1-4-1988 |
1257
| >> |
Chapter XXII-B--Tax Credit Certificates |
1258
| >> |
| SECTION 280Y. :Omitted vide Finance Act, 1990, w.e.f. 1-4-1990 |
1258
| >> |
| SECTION 280Z. :Omitted vide Finance Act, 1990, w.e.f. 1-4-1990 |
1258
| >> |
| SECTION 280ZA. :Omitted vide Finance Act, 1990, w.e.f. 1-4-1990 |
1259
| >> |
| SECTION 280ZB. :Omitted vide Finance Act, 1990, w.e.f. 1-4-1990 |
1260
| >> |
| SECTION 280ZC. :Omitted vide Finance Act, 1990, w.e.f. 1-4-1990 |
1261
| >> |
| SECTION 280ZD. :Omitted vide Finance Act, 1990, w.e.f. 1-4-1990 |
1261
| >> |
| SECTION 280ZE. :Omitted vide Finance Act, 1990, w.e.f. 1-4-1990 |
1262
| >> |
Chapter XXIII--Miscellaneous |
1263
| >> |
| SECTION 281 :Certain transfers to be void. |
1263
| >> |
| SECTION 281A. :Repealed by the Benami Transactions (Prohibition) Act, 1988, w.e.f. 19-5-1988 |
1263
| >> |
| SECTION 281B. :Provisional attachment to protect revenue in certain cases. |
1264
| >> |
| SECTION 282 :Service of notice generally. |
1266
| >> |
| SECTION 282A. :Authentication of notices and other documents. |
1266
| >> |
| SECTION 282B. :Omitted vide Finance Act, 2011, effective retrospectively from 1-4-2011 |
1267
| >> |
| SECTION 283 :Service of notice when family is disrupted or firm, etc., is dissolved. |
1267
| >> |
| SECTION 284 :Service of notice in the case of discontinued business. |
1267
| >> |
| SECTION 285 :Omitted vide Finance Act, 1987, w.e.f. 1-6-1987 |
1267
| >> |
| SECTION 285 :Submission of statement by a non-resident having liasion office. |
1268
| >> |
| SECTION 285A. :Furnishing of information or documents by an Indian concern in certain cases. |
1268
| >> |
| SECTION 285B. :Submission of statements by producers of cinematograph films or persons engaged in specified activity. |
1268
| >> |
| SECTION 285BA. :Obligation to furnish statement of financial transaction or reportable account. |
1269
| >> |
| SECTION 285BB. :Annual information statement. |
1271
| >> |
| SECTION 286 :Omitted vide Finance Act, 1987, w.e.f. 1-6-1987 |
1272
| >> |
| SECTION 286 :Furnishing of report in respect of international group. |
1272
| >> |
| SECTION 287 :Publication of information respecting assessees in certain cases. |
1276
| >> |
| SECTION 287A. :Appearance by registered valuer in certain matters. |
1276
| >> |
| SECTION 288 :Appearance by authorised representative. |
1276
| >> |
| SECTION 288A. :Rounding off of income. |
1280
| >> |
| SECTION 288B. :Rounding off amount payable and refund due. |
1280
| >> |
| SECTION 289 :Receipt to be given. |
1280
| >> |
| SECTION 290 :Indemnity. |
1280
| >> |
| SECTION 291 :Power to tender immunity from prosecution. |
1280
| >> |
| SECTION 292 :Cognizance of offences. |
1281
| >> |
| SECTION 292A. :Section 360 of the Code of Criminal Procedure, 1973, and the Probation of Offenders Act, 1958, not to apply. |
1281
| >> |
| SECTION 292B. :Return of income, etc., not to be invalid on certain grounds. |
1281
| >> |
| SECTION 292BB. :Notice deemed to be valid in certain circumstances. |
1281
| >> |
| SECTION 292C. :Presumption as to assets books of account. |
1282
| >> |
| SECTION 292CC. :Authorisation and assessment in case of search or requisition. |
1282
| >> |
| SECTION 293 :Bar of suits in Civil Courts. |
1283
| >> |
| SECTION 293A. :Power to make exemption, etc., in relation to participation in the business of prospecting for, extraction, etc., of mineral oils. |
1283
| >> |
| SECTION 293B. :Power of Central Government or board to condone delays in obtaining approval. |
1283
| >> |
| SECTION 293C. :Power to withdraw approval. |
1284
| >> |
| SECTION 293D. :Faceless approval or registration. |
1284
| >> |
| SECTION 294 :Act to have effect pending legislative provision for charge of tax. |
1284
| >> |
| SECTION 294A. :Power to make exemption, etc., in relation to certain Union Territories. |
1285
| >> |
| SECTION 295 :Power to make rules. |
1285
| >> |
| SECTION 296 :Rules and certain notifications to be placed before Parliament. |
1288
| >> |
| SECTION 297 :Repeals and savings. |
1289
| >> |
| SECTION 298 :Power to remove difficulties. |
1290
| >> |
| The First Schedule :Insurance Business |
1292
| >> |
| Part A : Life Insurance Business |
1292
| >> |
| Part B : Other Insurance Business |
1292
| >> |
| Part C : Other Provisions |
1293
| >> |
| The Second Schedule :Procedure for Recovery of Tax |
1295
| >> |
| Part I : General Provisions |
1295
| >> |
| Part II : Attachment and Sale of Movable Property |
1300
| >> |
| Part III : Attachment and Sale of Immovable Property |
1306
| >> |
| Part IV : Appointment of Receiver |
1312
| >> |
| Part V : Arrest and Detention of the Defaulter |
1312
| >> |
| Part VI : Miscellaneous |
1315
| >> |
| The Third Schedule :Procedure for Distrant by Assessing Officer or Tax Recovery Officer |
1320
| >> |
| The Fourth Schedule :Part A : Recognised Provident Funds |
1320
| >> |
| Part B : Approved Superannuation Funds |
1328
| >> |
| Part C : Approved Gratuity Funds |
1332
| >> |
| The Fifth Schedule :List of Articles and Things |
1336
| >> |
| The Sixth Schedule :Omitted vide Finance Act, 1972, w.e.f. 1-4-1973 |
1337
| >> |
| The Seventh Schedule :Part A : Minerals |
1338
| >> |
| Part B : Groups of Associated Minerals |
1339
| >> |
| The Eighth Schedule :List of Industrially Backward States and Union Territories |
1340
| >> |
| The Ninth Schedule :Omitted vide Taxation Laws (Amendment and Miscellaneous Provisions) Act, 1986, effective from 1-4-1988 |
1342
| >> |
| The Tenth Schedule :Omitted vide Finance Act, 1999, effective from 1-4-2000 |
1343
| >> |
| The Eleventh Schedule :List of Articles or Things |
1344
| >> |
| The Twelfth Schedule :Processed Minerals and Ores |
1346
| >> |
| The Thirteenth Schedule :List of Articles or Things |
1347
| >> |
| Part A : For the State of Sikkim |
1347
| >> |
| Part B : For the State of Himachal Pradesh and the State of Uttaranchal |
1347
| >> |
| Part C : For the State of Jammu and Kashmir |
1350
| >> |
| The Fourteenth Schedule :List of Articles or Things or Operations |
1351
| >> |
| Part A : For the North-Eastern States |
1351
| >> |
| Part B : For the State of Sikkim |
1352
| >> |
| Part C : For the State of Himachal Pradesh and the State of Uttaranchal |
1353
| >> |
Education Cess Provisions |
1355
| >> |
| SECTION 91 :Education Cess |
1355
| >> |
| SECTION 92 :Definition |
1355
| >> |
| SECTION 93 :Education Cess on excisable goods |
1355
| >> |
| SECTION 94 :Education Cess on imported goods |
1356
| >> |
Secondary and Higher Education Cess |
1357
| >> |
| SECTION 136 :Secondary and Higher Education Cess |
1357
| >> |
| SECTION 137 :Definition |
1357
| >> |
| SECTION 138 :Secondary and Higher Education Cess on excisable goods |
1357
| >> |
| SECTION 139 :Secondary and Higher Education Cess on imported goods |
1358
| >> |
| SECTION 140 :Omitted vide Finance Act, 2015 effective from date to be notified by the Central Government. |
1358
| >> |
Securities Transaction Tax Provisions |
1359
| >> |
| SECTION 96 :Extent, commencement and application |
1359
| >> |
| SECTION 97 :Definitions |
1359
| >> |
| SECTION 98 :Charge of securities transaction tax |
1361
| >> |
| SECTION 99 :Value of taxable securities transactions |
1363
| >> |
| SECTION 100 :Collection and recovery of securities transaction tax |
1363
| >> |
| SECTION 101 :Recognised stock exchange or Mutual Fund to furnish prescribed return |
1364
| >> |
| SECTION 102 :Assessment |
1365
| >> |
| SECTION 103 :Rectification of mistake |
1365
| >> |
| SECTION 104 :Interest on delayed payment of securities transaction tax |
1366
| >> |
| SECTION 105 :Penalty for failure to collect or pay securities transaction tax |
1366
| >> |
| SECTION 106 :Penalty for failure to furnish prescribed return |
1366
| >> |
| SECTION 107 :Penalty for failure to comply with notice |
1366
| >> |
| SECTION 108 :Penalty not to be imposed in certain cases |
1367
| >> |
| SECTION 109 :Application of certain provisions of Act 43 1961 |
1367
| >> |
| SECTION 110 :Appeals to Commissioner of Income Tax (Appeals) |
1367
| >> |
| SECTION 111 :Appeals to the Appellate Tribunal |
1367
| >> |
| SECTION 112 :False statement in verification, etc |
1368
| >> |
| SECTION 113 :Institution of proceedings |
1368
| >> |
| SECTION 113A. :Chapter VII not to apply in certain cases |
1368
| >> |
| SECTION 114 :Power to make rules |
1368
| >> |
| SECTION 115 :Power to remove difficulties |
1369
| >> |
Commodities Transaction Tax Provisions |
1370
| >> |
| SECTION 115 :Extent, commencement and application |
1370
| >> |
| SECTION 116 :Definitions |
1370
| >> |
| SECTION 117 :Charge of commodities transaction tax |
1371
| >> |
| SECTION 118 :Value of taxable commodities transaction |
1372
| >> |
| SECTION 119 :Collection and recovery of commodities transaction tax |
1372
| >> |
| SECTION 120 :Furnishing of return |
1372
| >> |
| SECTION 121 :Assessment |
1373
| >> |
| SECTION 122 :Rectification of mistake |
1373
| >> |
| SECTION 123 :Interest on delayed payment of commodities transaction tax |
1374
| >> |
| SECTION 124 :Penalty for failure to collect or pay commodities transaction tax |
1374
| >> |
| SECTION 125 :Penalty for failure to furnish return |
1374
| >> |
| SECTION 126 :Penalty for failure to comply with notice |
1374
| >> |
| SECTION 127 :Penalty not to be imposed in certain cases |
1374
| >> |
| SECTION 128 :Application of certain provisions of Income-tax Act |
1375
| >> |
| SECTION 129 :Appeal to Commissioner of Income-tax (Appeals) |
1375
| >> |
| SECTION 130 :Appeal to Appellate Tribunal |
1375
| >> |
| SECTION 131 :Punishment for false statement |
1375
| >> |
| SECTION 132 :Institution of prosecution |
1376
| >> |
| SECTION 132A. :Chapter VII not to apply in certain cases |
1376
| >> |
| SECTION 133 :Power to make rules |
1376
| >> |
| SECTION 134 :Power to remove difficulties |
1376
| >> |
Equalisation Levy |
1377
| >> |
| SECTION 163 :Extent, commencement and application |
1377
| >> |
| SECTION 164 :Definitions |
1377
| >> |
| SECTION 165 :Charge of equalisation levy on specified services |
1378
| >> |
| SECTION 165A. :Charge of equalisation levy of e-commerce supply or services |
1379
| >> |
| SECTION 166 :Collection and recovery of equalisation levy on specified services |
1380
| >> |
| SECTION 166A. :Collection and recovery of equalisation levy on e-commerce supply or services |
1380
| >> |
| SECTION 167 :Furnishing of statement |
1380
| >> |
| SECTION 168 :Processing of statement |
1381
| >> |
| SECTION 169 :Rectification of mistake |
1382
| >> |
| SECTION 170 :Interest on delayed payment of equalisation levy |
1382
| >> |
| SECTION 171 :Penalty for failure to deduct or pay equalisation levy |
1382
| >> |
| SECTION 172 :Penalty for failure to furnish statement |
1383
| >> |
| SECTION 173 :Penalty not to be imposed in certain cases |
1383
| >> |
| SECTION 174 :Appeal to Commissioner of Income-tax (Appeals) |
1383
| >> |
| SECTION 175 :Appeal to Appellate Tribunal |
1383
| >> |
| SECTION 176 :Punishment for false statement |
1384
| >> |
| SECTION 177 :Institution of prosecution |
1384
| >> |
| SECTION 178 :Application of certain provisions of Income-tax Act |
1384
| >> |
| SECTION 179 :Power to make rules |
1384
| >> |
| SECTION 180 :Power to remove difficulties |
1385
| >> |
Income Declaration Scheme, 2016 |
1386
| >> |
| SECTION 181 :Short title and commencement |
1386
| >> |
| SECTION 182 :Definitions |
1386
| >> |
| SECTION 183 :Declaration of undisclosed income |
1386
| >> |
| SECTION 184 :Charge of tax and surcharge |
1386
| >> |
| SECTION 185 :Penalty |
1387
| >> |
| SECTION 186 :Manner of declaration |
1387
| >> |
| SECTION 187 :Time for payment of tax |
1387
| >> |
| SECTION 188 :Undisclosed income declared not to be included in total income |
1388
| >> |
| SECTION 189 :Undisclosed income declared not to affect finality of completed assessments |
1388
| >> |
| SECTION 190 :Undisclosed income declared not to be treated as benami transaction in certain cases |
1388
| >> |
| SECTION 191 :Tax in respect of voluntarily disclosed income not refundable |
1388
| >> |
| SECTION 192 :Declaration not admissible in evidence against declarant |
1389
| >> |
| SECTION 193 :Declaration by misrepresentation of facts to be void |
1389
| >> |
| SECTION 194 :Exemption from wealth-tax in respect of assets specified in declaration |
1389
| >> |
| SECTION 195 :Applicability of certain provisions of Income-tax Act and of Chapter V of Wealth-tax Act |
1390
| >> |
| SECTION 196 :Scheme not to apply to certain persons |
1390
| >> |
| SECTION 197 :Removal of doubts |
1391
| >> |
| SECTION 198 :Power to remove difficulties |
1391
| >> |
| SECTION 199 :Power to make rules |
1392
| >> |
Direct Tax Dispute Resolution Scheme, 2016 |
1393
| >> |
| SECTION 200 :Short title and commencement |
1393
| >> |
| SECTION 201 :Definitions |
1393
| >> |
| SECTION 202 :Declaration of tax payable |
1394
| >> |
| SECTION 203 :Particulars to be furnished |
1394
| >> |
| SECTION 204 :Time and manner of payment |
1395
| >> |
| SECTION 205 :Immunity from initiation of proceedings in respect of offence and imposition of penalty in certain cases |
1395
| >> |
| SECTION 206 :No refund of amount paid under Scheme |
1396
| >> |
| SECTION 207 :No other benefit, concession or immunity to declarant |
1396
| >> |
| SECTION 208 :Scheme not to apply in certain cases |
1396
| >> |
| SECTION 209 :Power of Central Government to issue directions, etc |
1397
| >> |
| SECTION 210 :Power to remove difficulties |
1397
| >> |
| SECTION 211 :Power to make rules |
1398
| >> |
Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 |
1399
| >> |
| SECTION 199A. :Short title and commencement |
1399
| >> |
| SECTION 199B. :Definition |
1399
| >> |
| SECTION 199C. :Declaration of undisclsed income |
1399
| >> |
| SECTION 199D. :Charge of tax and surcharge |
1400
| >> |
| SECTION 199E. :Penalty |
1400
| >> |
| SECTION 199F. :Deposit of undisclosed income |
1400
| >> |
| SECTION 199G. :Manner of declaration |
1400
| >> |
| SECTION 199H. :Time for payment of tax, penalty, surcharge and deposit |
1400
| >> |
| SECTION 199-I. :Undisclosed income declared not to be included in total income |
1400
| >> |
| SECTION 199-J. :Undisclosed income declared not to affect finality of completed assessments |
1400
| >> |
| SECTION 199K. :Tax, etc., not refundable |
1401
| >> |
| SECTION 199L. :Declaration not admissible in evidence against declarant |
1401
| >> |
| SECTION 199M. :Declaration by misrepresentation of facts to be void |
1401
| >> |
| SECTION 199N. :Applicability of certain provisions of Income-tax Act |
1401
| >> |
| SECTION 199-O. :Scheme not to apply to certain persons |
1401
| >> |
| SECTION 199P. :Removal of doubts |
1402
| >> |
| SECTION 199Q. :Power to remove difficulties |
1402
| >> |
| SECTION 199R. :Power to make rules |
1402
| >> |
Amendments to Certain Acts to Provide for Merger of Tribunals and Other Authorities and Conditions of Service of Chairpersons, Members, Etc. |
1403
| >> |
| A.--Preliminary |
1403
| >> |
| SECTION 156 :Commencement of this Part |
1403
| >> |
| SECTION 157 :Definitions |
1403
| >> |
| B.--Amendments to the Industrial Disputes Act, 1947 and The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. |
1403
| >> |
| C.--Amendments to the Copyright Act, 1957 and the Trade Marks Act, 1999. |
1403
| >> |
| D.--Amendments to the Railway Claims Tribunal Act, 1987 and the Railways Act, 1989. |
1403
| >> |
| E.--Amendments to the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 and the Foreign Exchange Management Act, 1999. |
1403
| >> |
| F.--Amendments to the Airports Authority of India Act, 1994 and the Control of National Highways (Land and Traffic) Act, 2002. |
1403
| >> |
| G.--Amendments to the Telecom Regulatory Authority of India Act, 1997, the Information Technology Act, 2000 and the Airports Economic Regulatory Authority of India Act, 2008. |
1403
| >> |
| H.--Amendments to the Competition Act, 2002 and the Companies Act, 2013. |
1404
| >> |
| I.--Amendment to the Cinematograph Act, 1952. |
1404
| >> |
| J.--Amendments to the Income-Tax Act, 1961. |
1404
| >> |
| SECTION 174 :Amendment of Act 43 of 1961 |
1404
| >> |
| K.--Amendment to the Customs Act, 1962. |
1404
| >> |
| L.--Amendment to the Administrative Tribunals Act, 1985. |
1404
| >> |
| M.--Amendment to the Consumer Protection Act, 1986. |
1404
| >> |
| N.--Amendment to the Securities and Exchange Board of India Act, 1992. |
1404
| >> |
| O.--Amendments to the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. |
1405
| >> |
| P.--Amendment to the Electricity Act, 2003. |
1405
| >> |
| Q.--Amendment to the Armed Forces Tribunal Act, 2007 |
1405
| >> |
| R.--Amendment to the National Green Tribunal Act, 2010. |
1405
| >> |
| S.--Conditions of Service of Chairperson and Members of Tribunals, Appellate Tribunals and Other Authorities |
1405
| >> |
| SECTION 183 :Application of section 184 |
1405
| >> |
| SECTION 184 :Qualifications, appointment, term and conditions of service, salary and allowances, etc., of Chairperson, Vice-Chairperson and Members, etc., of the Tribunal, Appellate Tribunal and other Authorities |
1405
| >> |
| T.--Miscellaneous |
1406
| >> |
| SECTION 185 :Transitional provisions |
1406
| >> |
| SECTION 186 :General Power to make rules |
1407
| >> |
| SECTION 187 :Power to amend Eighth Schedule |
1407
| >> |
| SECTION 188 :Rules to be laid before Parliament |
1407
| >> |
| SECTION 189 :Removal of difficulties |
1407
| >> |
| The Eighth Schedule to Finance Act, 2017 |
1408
| >> |
| The Ninth Schedule to Finance Act, 2017 |
1409
| >> |
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 |
1410
| >> |
Chapter I--Preliminary |
1410
| >> |
| SECTION 1 :Short title, extent and commencement |
1410
| >> |
| SECTION 2 :Definitions |
1410
| >> |
Chapter II--Basis of charge |
1412
| >> |
| SECTION 3 :Charge of tax |
1412
| >> |
| SECTION 4 :Scope of total undisclosed foreign income and asset |
1412
| >> |
| SECTION 5 :Computation of total undisclosed foreign income and asset |
1412
| >> |
Chapter III--Tax Management |
1413
| >> |
| SECTION 6 :Tax authorities |
1413
| >> |
| SECTION 7 :Change of incumbent |
1414
| >> |
| SECTION 8 :Powers regarding discovery and production of evidence |
1414
| >> |
| SECTION 9 :Proceedings before tax authorities to be judicial proceedings |
1414
| >> |
| SECTION 10 :Assessment |
1414
| >> |
| SECTION 11 :Time limit for completion of assessment and reassessment |
1415
| >> |
| SECTION 12 :Rectification of mistake |
1416
| >> |
| SECTION 13 :Notice of demand |
1416
| >> |
| SECTION 14 :Direct assessment or recovery not barred |
1416
| >> |
| SECTION 15 :Appeals to the Commissioner (Appeals) |
1416
| >> |
| SECTION 16 :Procedure to be followed in appeal |
1417
| >> |
| SECTION 17 :Powers of Commissioner (Appeals) |
1418
| >> |
| SECTION 18 :Appeals to Appellate Tribunal |
1418
| >> |
| SECTION 19 :Appeal to High Court |
1419
| >> |
| SECTION 20 :Case before High Court to be heard by not less than two Judges |
1420
| >> |
| SECTION 21 :Appeal to Supreme Court |
1420
| >> |
| SECTION 22 :Hearing before Supreme Court |
1420
| >> |
| SECTION 23 :Revision of orders prejudicial to revenue |
1420
| >> |
| SECTION 24 :Revision of other orders |
1421
| >> |
| SECTION 25 :Tax to be paid pending appeal |
1422
| >> |
| SECTION 26 :Execution of order costs awarded by Supreme Court |
1422
| >> |
| SECTION 27 :Amendment of assessment on appeal |
1422
| >> |
| SECTION 28 :Exclusion of time taken for obtaining copy |
1422
| >> |
| SECTION 29 :Filing of appeal by tax authority |
1423
| >> |
| SECTION 30 :Recovery of tax dues by Assessing Officer |
1423
| >> |
| SECTION 31 :Recovery of tax dues by Tax Recovery Officer |
1424
| >> |
| SECTION 32 :Modes of recovery of tax dues |
1424
| >> |
| SECTION 33 :Tax Recovery Officer by whom recovery of tax dues is to be effected |
1426
| >> |
| SECTION 34 :Recovery of tax dues in case of a company in liquidation |
1426
| >> |
| SECTION 35 :Liability of manager of a company |
1427
| >> |
| SECTION 36 :Joint and several liability of participants |
1427
| >> |
| SECTION 37 :Recovery through State Government |
1428
| >> |
| SECTION 38 :Recovery of tax dues in pursuance of agreements with foreign countries or specified territory |
1428
| >> |
| SECTION 39 :Recovery by suit or under other law not affected |
1428
| >> |
| SECTION 40 :Interest for default in furnishing return and payment or deferment of advance tax |
1428
| >> |
Chapter IV--Penalties |
1428
| >> |
| SECTION 41 :Penalty in relation to undisclosed foreign income and asset |
1428
| >> |
| SECTION 42 :Penalty for failure to furnish return in relation to foreign income and asset |
1429
| >> |
| SECTION 43 :Penalty for failure to furnish in return of income, an information or furnish inaccurate particulars about an asset (including financial interest in any entity) located outside India |
1429
| >> |
| SECTION 44 :Penalty for default in payment of tax arrear |
1429
| >> |
| SECTION 45 :Penalty for other defaults |
1430
| >> |
| SECTION 46 :Procedure |
1430
| >> |
| SECTION 47 :Bar of limitation for imposing penalty |
1430
| >> |
Chapter V--Offences and Prosecutions |
1431
| >> |
| SECTION 48 :Chapter not in derogation of any other law or any other provision of this Act |
1431
| >> |
| SECTION 49 :Punishment for failure to furnish return in relation to foreign income and asset |
1431
| >> |
| SECTION 50 :Punishment for failure to furnish in return of income, any information about an asset (including financial interest in any entity) located outside India |
1431
| >> |
| SECTION 51 :Punishment for wilful attempt to evade tax |
1432
| >> |
| SECTION 52 :Punishment for false statement in verification |
1432
| >> |
| SECTION 53 :Punishment for abetment |
1432
| >> |
| SECTION 54 :Presumption as to culpable mental state |
1433
| >> |
| SECTION 55 :Prosecution to be at instance of Principal Chief Commissioner or Principal Director General or Chief Commissioner or Director General or Principal Commissioner or Commissioner |
1433
| >> |
| SECTION 56 :Offences by companies |
1433
| >> |
| SECTION 57 :Proof of Entries in records or documents |
1434
| >> |
| SECTION 58 :Punishment for second and subsequent offences |
1434
| >> |
Chapter VI--Tax Compliance for Undisclosed Foreign Income and Assets |
1434
| >> |
| SECTION 59 :Declaration of undisclosed foreign asset |
1434
| >> |
| SECTION 60 :Charge of tax |
1435
| >> |
| SECTION 61 :Penalty |
1435
| >> |
| SECTION 62 :Manner of declaration |
1435
| >> |
| SECTION 63 :Time for payment of tax |
1436
| >> |
| SECTION 64 :Undisclosed foreign asset declared not to be included in total income |
1436
| >> |
| SECTION 65 :Undisclosed foreign asset declared not to affect finality of completed assessments |
1436
| >> |
| SECTION 66 :Tax in respect of voluntarily disclosed asset not refundable |
1436
| >> |
| SECTION 67 :Declaration not admissible in evidence against declarant |
1436
| >> |
| SECTION 68 :Declaration by misrepresentation of facts to be void |
1436
| >> |
| SECTION 69 :Exemption from wealth-tax in respect of assets specified in declaration |
1436
| >> |
| SECTION 70 :Applicability of certain provisions of Income-tax Act and of Chapter V of Wealth-tax Act |
1437
| >> |
| SECTION 71 :Chapter not to apply to certain persons |
1437
| >> |
| SECTION 72 :Removal of doubts |
1438
| >> |
Chapter VII--General Provisions |
1439
| >> |
| SECTION 73 :Agreement with foreign countries or specified territories |
1439
| >> |
| SECTION 74 :Service of notice generally |
1439
| >> |
| SECTION 75 :Authentication of notices and other documents |
1440
| >> |
| SECTION 76 :Notice deemed to be valid in certain circumstances |
1440
| >> |
| SECTION 77 :Appearance by approved valuer in certain matters |
1440
| >> |
| SECTION 78 :Appearance by authorised representative |
1440
| >> |
| SECTION 79 :Rounding off of income, value of asset and tax |
1441
| >> |
| SECTION 80 :Congnizance of offences |
1441
| >> |
| SECTION 81 :Assessment not to be invalid on certain grounds |
1441
| >> |
| SECTION 82 :Bar of suits in civil courts |
1442
| >> |
| SECTION 83 :Income-tax papers to be available for purposes of this Act |
1442
| >> |
| SECTION 84 :Application of provisions of Income-tax Act |
1442
| >> |
| SECTION 85 :Power to make rules |
1442
| >> |
| SECTION 86 :Power to remove difficulties |
1443
| >> |
| SECTION 87 :Amendment of section 2 of Act 54 of 1963 |
1443
| >> |
| SECTION 88 :Amendment of Act of 15 of 2003 |
1443
| >> |
The Direct Tax Vivad Se Vishwas Act, 2020 |
1444
| >> |
| SECTION 1 :Short title |
1444
| >> |
| SECTION 2 :Definitions |
1444
| >> |
| SECTION 3 :Amount payable by declarant |
1447
| >> |
| SECTION 4 :Filing of declaration and particulars to be furnished |
1448
| >> |
| SECTION 5 :Time and manner of payment |
1449
| >> |
| SECTION 6 :Immunity from initiation of proceedings in respect of offence and imposition of penalty in certain cases |
1450
| >> |
| SECTION 7 :No refund of amount paid |
1450
| >> |
| SECTION 8 :No benefit, concession or immunity to declarant |
1450
| >> |
| SECTION 9 :Act not to apply in certain cases |
1450
| >> |
| SECTION 10 :Power of Board to issue directions, etc |
1451
| >> |
| SECTION 11 :Power to remove difficulties |
1452
| >> |
| SECTION 12 :Power to make rules |
1452
| >> |
The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 |
1453
| >> |
Chapter I--Preliminary |
1453
| >> |
| SECTION 1 :Short title and commencement |
1453
| >> |
| SECTION 2 :Definitions |
1453
| >> |
Chapter II--Relaxation of Certain Provisions of Specified Act |
1454
| >> |
| SECTION 3 :Relaxation of certain provisions of specified Act |
1454
| >> |
Chapter III--Amendments to the Income Tax Act, 1961 |
1457
| >> |
| SECTION 4 :Amendment of Act 43 of 1961 |
1457
| >> |
Chapter IV--Amendments to the Direct Tax Vivad Se Vishwas Act |
1457
| >> |
| SECTION 5 :Amendment of section 3 of Act 2 of 2020 |
1457
| >> |
Chapter V--Relaxation of Time Limit under Certain Indirect Tax Laws |
1457
| >> |
| SECTION 6 :Relaxation of time limit under Central Excise Act, 1944, Customs Act, 1962, Customs Tariff Act, 1975 and Finance Act, 1994 |
1457
| >> |
Chapter VI--Amendment to the Central Goods and Services Tax Act , 2017 |
1458
| >> |
| SECTION 7 :Insertion of new section 168A in Act 12 of 2017 |
1458
| >> |
Chapter VII--Amendment to the Finance (No. 2) Act, 2019 |
1458
| >> |
| SECTION 8 :Amendment of section 127 of Act 23 of 2019 |
1458
| >> |
Chapter VIII--Amendment to the Finance Act, 2020 |
1459
| >> |
| SECTION 9 :Amendment of Act 12 of 2020 |
1459
| >> |
| SECTION 10 :Power to remove difficulties |
1460
| >> |
| SECTION 11 :Repeal and savings |
1460
| >> |
Validation and Other Provisions--Relating to Income Tax Act, 1961 |
1461
| >> |
Finance Act, 2012 |
1461
| >> |
| SECTION 119 :Validation of demands, etc., under Income-tax Act, 1961 in certain cases |
1461
| >> |
Jammu and Kashmir Reorganisation Act, 2019 |
1462
| >> |
| SECTION 87 :Special provision as to income-tax |
1462
| >> |