PRELIMINARY
1 Short title, extent and commencement
BASIS
OF CHARGE
5A Apportionment of income between
spouses governed by Portuguese Civil Code
7 Income deemed to be received
9 Income deemed to accrue or arise in
India
INCOMES WHICH DO
NOT FORM PART OF TOTAL INCOME
10 Incomes not included in total income
10A Special provision in respect of newly
established undertakings in free trade zone, etc.
10AA Special provisions in respect of
newly established Units in Special Economic Zones
10B Special provisions in respect of
newly established hundred per cent export-oriented undertakings
10BA Special provisions in respect of
export of certain articles or things
10BB Meaning of
computer programmers in certain cases
10C Special provision in respect of
certain industrial undertakings in North-Eastern Region
11 Income from property held for charitable
or religious purposes
12 Income of trusts or institutions from
contributions
12A Conditions as to registration of
trusts, etc.
12AA Procedure for registration
13 Section 11 not to apply in certain
cases
13A Special provision relating to incomes
of political parties
COMPUTATION OF
TOTAL INCOME
Heads of
income
14A Expenditure incurred in relation to
income not includible in total income
A. - Salaries
15 Salaries
17 “Salary”, “perquisite” and “profits
in lieu of salary” defined
B. - [Omitted]
18 [OMITTED
BY THE FINANCE ACT, 1988 W.E.F. 1-4-1989]
19 [OMITTED
BY THE FINANCE ACT, 1988 W.E.F. 1-4-1989]
20 [OMITTED
BY THE FINANCE ACT, 1988 W.E.F. 1-4-1989]
21 [OMITTED
BY THE FINANCE ACT, 1988 W.E.F. 1-4-1989]
23 Annual value how determined
24 Deductions from income from house
property
25 Amounts not deductible from income
from house property
25A Special provision for cases where
unrealized rent allowed as deduction is realized subsequently
25AA Unrealized rent received subsequently
to be charged to income-tax
25B Special provision for arrears of rent
received
26 Property owned by co-owners
27 “Owner of house property”, “annual
charge”, etc., defined
28 Profits and gains of business or
profession
29 Income from profits and gains of
business or profession, how computed
30 Rent, rates, taxes, repairs and
insurance for buildings
31 Repairs and insurance of machinery,
plant and furniture
32 Depreciation
32AB Investment deposit account
33AB Tea development account, coffee
development account and rubber development account
33AC Reserves for shipping business
34 Conditions for depreciation allowance
and development rebate
35 Expenditure on scientific research
35A Expenditure on acquisition of patent
rights or copyrights
35ABBExpenditure for obtaining license to operate
telecommunication services
35AC Expenditure on eligible projects or
schemes
35B [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1989]
35C [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1989]
35CC [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1989]
35D Amortization of certain preliminary
expenses
35DD Amortization of expenditure in case
of amalgamation or demerger
35DDAAmortization of expenditure incurred under voluntary
retirement scheme
35E Deduction for expenditure on
prospecting, etc., for certain minerals
37 General
38 Building, etc., partly used for
business, etc., or not exclusively so used
39 [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1989]
40A Expenses or payments not deductible
in certain circumstances
42 Special provision for deductions in
the case of business for prospecting, etc., for mineral oil
43 Definitions of certain terms relevant
to income from profits and gains of business or profession
43A Special provisions consequential to
changes in rate of exchange of currency
43B certain deductions to be only on
actual payment
43C Special provision for computation of
cost of acquisition of certain assets
43D Special provision in case of income
of public financial institutions, public companies, etc.
44A Special provision for deduction in
the case of trade, professional or similar association
44AA Maintenance of accounts by certain
persons carrying on profession or business
44AB Audit of accounts of certain persons
carrying on business or profession
44AC [OMITTED BY THE FINANCE ACT, 1992,
W.E.F. 1-4-1993]
44AD Special provision for computing
profits and gains of business of civil construction, etc.
44AF Special provisions for computing
profits and gains of retail business
44B Special provision for computing
profits and gains of shipping business in the case of non-residents
44C Deduction of head office expenditure
in the case of non-residents
44D Special provisions for computing
income by way of royalties, etc., in the case of foreign companies
44DA Special provision for computing
income by way of royalties, etc., in case of non-residents
46 Capital gains on
distribution of assets by companies in liquidation
46A Capital gains on purchase by company
of its own shares or other specified securities
47 Transactions not regarded as transfer
47A Withdrawal of exemption in certain
cases
49 Cost with reference to certain modes
of acquisition
50 Special provision for computation of
capital gains in case of depreciable assets
50A Special provision for cost of
acquisition in case of depreciable asset
50B Special provision for computation of
capital gains in case of slump sale
50C Special provision for full value of
consideration in certain cases
52 [OMITTED BY THE FINANCE ACT, 1987,
W.E.F. 1-4-1988]
53 [OMITTED BY THE FINANCE ACT, 1992,
W.E.F. 1-4-1993]
54 Profit on sale of property used for
residence
54A [OMITTED BY THE FINANCE (NO. 2) ACT,
1971, W.E.F. 1-4-1972]
54B Capital gain on transfer of land used
for agricultural purposes not to be charged in certain cases
54C [OMITTED BY THE FINANCE ACT, 1976,
W.E.F. 1-4-1976]
54D Capital gain on compulsory acquisition
of lands and buildings not to be charged in certain cases
54E Capital gain on transfer of capital
assets not to be charged in certain cases
54EB Capital gain on transfer of long-term
capital assets not to be charged in certain cases
54EC Capital gain not to be charged on
investment in certain bonds
54ED Capital gain on transfer of certain
listed securities or unit, not to be charged in certain cases
54H Extension of time for acquiring new
asset or depositing or investing amount of capital gain
55 Meaning of “adjusted”, “cost of
improvement” and “cost of acquisition”
55A Reference to Valuation Officer
F. - Income from other sources
57 Deductions
INCOME OF OTHER
PERSONS, INCLUDED IN ASSESSEE’S TOTAL INCOME
60 Transfer of income where there is no
transfer of assets
61 Revocable transfer of assets
62 Transfer irrevocable for a specified
period
63 “Transfer” and “revocable transfer”
defined
64 Income of individual to include
income of spouse, minor child, etc.
65 Liability of person in respect of
income included in the income of another person
AGGREGATION OF
INCOME AND SET OFF OR CARRY FORWARD OF LOSS
Aggregation of
income
66 Total income
67 [OMITTED BY THE FINANCE ACT, 1992, W.E.F. 1-4-1993]
67A Method of computing a member’s share in income of
association of persons or body of individuals
68 Cash credits
69B Amount of investments, etc., not fully disclosed in books
of account
69C Unexplained expenditure, etc.
69D Amount borrowed or repaid on hundi
70 Set off of loss from one source against income from
another source under the same head of income
71 Set off of loss from one head against income from another
71A Transitional provisions for set off of loss under the head
“Income from house property”
71B Carry forward and set off of loss from house property
72 Carry forward and set off of business losses
73 Losses in speculation business
74 Losses under the head “Capital gains”
74A Losses from certain specified sources falling under the
head "income from other sources"
76 [OMITTED BY THE FINANCE ACT, 1992, W.E.F. 1-4-1993]
77 [OMITTED BY THE FINANCE ACT, 1992, W.E.F. 1-4-1993]
78 Carry forward and set off of losses in case of change in
constitution of firm or on succession
79 Carry forward and set off of losses in the case of certain
companies
80 Submission of return for losses
DEDUCTIONS TO BE
MADE IN COMPUTING TOTAL INCOME
A. - General
80A Deductions to be made in computing total income
80AA [OMITTED BY THE FINANCE ACT, 1997, W.E.F. 1-4-1998]
80AB Deductions to be made with reference to the income
included in the gross total income
80AC Deduction not to be allowed unless return furnished
80B Definitions
80CC [OMITTED BY THE FINANCE (NO. 2) ACT, 1996, W.R.E.F.
1-4-1993]
80CCADeduction in
respect of deposits under National Savings Scheme or payment to a deferred
annuity plan
80CCBDeduction in
respect of investment made under Equity Linked Savings Scheme
80CCCDeduction in
respect of contribution to certain pension funds
80CCDDeduction in
respect of contribution to pension scheme of Central Government
80CCELimit on
deductions under sections 80C, 80CCC and 80CCD
80D Deductions in respect of medical insurance premier
80DDBDeduction in
respect of medical treatment, etc.
80E Deduction in respect of interest on loan taken for higher
education
80F [OMITTED BY THE FINANCE ACT, 1985, W.E.F. 1-4-1986]
80FF [OMITTED BY THE FINANCE (NO. 2) ACT, 1980, W.E.F.
1-4-1981]
80G Deductions in respect of donations to certain funds, charitable
institutions, etc.
80GG Deductions in respect of rents paid
80GGADeduction in
respect of certain donations for scientific research or rural development
80GGBDeduction in
respect of contributions given by companies to political parties
80GGCDeductions in
respect of contributions given by any person to political parties
80H [OMITTED BY THE TAXATION LAWS (AMENDMENT) ACT, 1975,
W.E.F. 1-4-1976]
80HHBDeduction in
respect of profits and gains from projects outside India
80HHBADeduction in
respect of profits and gains from housing projects in certain cases
80HHCDeduction in
respect of profits retained for export business
80HHDDeduction in
respect of earnings in convertible foreign exchange
80HHEDeduction in
respect of profits from export of computer software, etc.
80HHFDeduction in
respect of profits and gains from export or transfer of film software, etc.
80I Deduction in respect of profits and gains
from industrial undertakings after a certain date, etc.
80IE Special provisions in respect of certain undertakings in
North-Eastern States
80J [OMITTED BY THE FINANCE (NO. 2) ACT, 1996, W.R.E.F.
1-4-1989]
80JJ [OMITTED BY THE FINANCE ACT, 1997, W.E.F. 1-4-1998]
80JJAADeduction in
respect of employment of new workmen
80K [OMITTED BY THE FINANCE ACT, 1986, W.E.F. 1-4-1987]
80L [OMITTED BY THE FINANCE ACT, 2005, W.E.F. 1-4-2006]
80M [OMITTED BY THE FINANCE ACT, 2003, W.E.F. 1-4-2004]
80MM [OMITTED BY THE FINANCE ACT, 1983, W.E.F. 1-4-1984]
80N [OMITTED BY THE FINANCE ACT, 1985, W.E.F. 1-4-1986]
80O Deduction in respect of royalties, etc., from certain
foreign enterprises
80P Deduction in respect of income of co-operative societies
80Q Deduction in respect of profits and gains from the
business of publication of books
80QQ [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987,
W.E.F. 1-4-1989]
80QQADeduction in respect
of professional income of authors of text books in Indian languages
80QQBDeduction in
respect of royalty income, etc., of authors of certain books other than text
books
80RR Deduction in respect of professional income from foreign
sources in certain cases
80RRADeduction in
respect of remuneration received for services rendered outside India
80RRBDeduction in
respect of royalty on Patents
80S [OMITTED BY THE FINANCE ACT, 1986, W.E.F. 1-4-1987]
80T [OMITTED BY THE FINANCE ACT, 1987, W.E.F. 1-4-1988]
80TT [OMITTED BY THE FINANCE ACT, 1986, W.E.F. 1-4-1987]
D. - Other deductions
80U Deduction in case of a person with disability
80V [OMITTED BY THE FINANCE ACT, 1994, W.E.F. 1-4-1995]
80VV [OMITTED BY THE FINANCE ACT, 1985, W.E.F. 1-4-1986]
RESTRICTION ON
CERTAIN DEDUCTIONS IN THE CASE OF COMPANIES
80VVA [OMITTED BY THE FINANCE ACT,
1987, W.E.F. 1-4-1988]
INCOMES FORMING
PART OF TOTAL INCOME ON WHICH NO INCOME-TAX IS PAYABLE
81 [OMITTED BY THE FINANCE (NO. 2) ACT, 1967, W.E.F.
1-4-1968]
86A [OMITTED BY THE FINANCE ACT, 1988,
W.E.F. 1-4-1989]
REBATES AND
RELIEFS
A. - Rebate of income-tax
87 Rebate to be allowed in computing income-tax
87A [Omitted by the Finance (No. 2) Act, 1967, w.e.f.
1-4-1968]
88 Rebate on life insurance premier, contribution to
provident fund, etc.
88A [OMITTED BY THE FINANCE (NO. 2) ACT, 1996, W.R.E.F.
1-4-1994]
88B [OMITTED BY THE FINANCE ACT, 2005, W.E.F. 1-4-2006]
88C [OMITTED BY THE FINANCE ACT, 2005, W.E.F. 1-4-2006]
88D [OMITTED BY THE FINANCE ACT, 2005, W.E.F. 1-4-2006]
88E Rebate in respect of securities transaction tax
89 Relief when salary, etc., is paid in arrears or in advance
89A [OMITTED BY THE FINANCE ACT, 1983, W.E.F. 1-4-1983]
DOUBLE TAXATION
RELIEF
90 Agreement with foreign countries
91 Countries with which no agreement exists
SPECIAL
PROVISIONS RELATING TO AVOIDANCE OF TAX
92 Computation of income from international transaction
having regard to arm’s length price
92A Meaning of associated enterprise
92B Meaning of international transaction
92C Computation of arm’s length price
92CA Reference to Transfer Pricing Officer
92E Report from an accountant to be furnished by persons
entering into international transaction
92F Definitions of certain terms relevant to computation of
arm’s length price, etc
93 Avoidance of income-tax by transactions resulting in
transfer of income to non-residents
94 Avoidance of tax by certain transactions in securities
ADDITIONAL
INCOME-TAX ON UNDISTRIBUTED PROFITS
95 [OMITTED BY
THE FINANCE ACT, 1965, W.E.F. 1-4-1965]
104 [OMITTED BY THE FINANCE ACT, 1987, W.E.F. 1-4-1988]
105 [OMITTED BY THE FINANCE ACT, 1987, W.E.F. 1-4-1988]
106 [OMITTED BY THE FINANCE ACT, 1987, W.E.F. 1-4-1988]
107 [OMITTED BY THE FINANCE ACT, 1987, W.E.F. 1-4-1988]
107A [OMITTED BY THE FINANCE ACT, 1987, W.E.F. 1-4-1988]
108 [OMITTED BY THE FINANCE ACT, 1987, W.E.F. 1-4-1988]
109 [OMITTED BY THE FINANCE ACT, 1987, W.E.F. 1-4-1988]
DETERMINATION OF
TAX IN CERTAIN SPECIAL CASES
110 Determination of tax where total income includes income on
which no tax is payable
111 Tax on accumulated balance of recognized provident fund
111A Tax on short-term capital gains in certain cases
112 Tax on long-term capital gains
112A [OMITTED BY THE FINANCE ACT, 1988, W.E.F. 1-4-1989]
113 Tax in the case of block assessment of search cases
114 [OMITTED BY THE FINANCE (NO. 2) ACT, 1967, W.E.F.
1-4-1968]
115 [OMITTED BY THE FINANCE ACT, 1987, W.E.F. 1-4-1988]
115A Tax on dividends, royalty and technical service fees in
the case of foreign companies
115AB Tax on income from units purchased in foreign currency
or capital gains arising from their transfer
115B Tax on profits and gains of life insurance business
115BBATax on
non-resident sportsmen or sports associations
115BBCAnonymous donations to be taxed in certain cases
SPECIAL
PROVISIONS RELATING TO CERTAIN INCOMES OF NON-RESIDENTS
115C Definitions
115D Special provision for computation of total income of non-residents
115E Tax on investment income and long-term capital gains
115F Capital gains on transfer of foreign exchange assets
not to be charged in certain cases
115G return of income not to be filed in certain cases
115H Benefit under Chapter to be available in certain
cases even after the assesses becomes resident
115I Chapter not to apply if the assesses so chooses
SPECIAL
PROVISIONS RELATING TO CERTAIN COMPANIES
115J Special provisions relating to
certain companies
115JA Deemed income relating to certain
companies
115JAATax credit in respect of tax paid on deemed income
relating to certain companies
115JB Special provision for payment of tax
by certain companies
SPECIAL
PROVISIONS RELATING TO RETAIL TRADE, ETC.
115K [OMITTED BY THE FINANCE ACT, 1997, W.E.F. 1-4-1998]
115L [OMITTED BY THE FINANCE ACT, 1997, W.E.F. 1-4-1998]
115M [OMITTED BY THE FINANCE ACT, 1997, W.E.F. 1-4-1998]
115N [OMITTED BY THE FINANCE ACT, 1997, W.E.F. 1-4-1998]
SPECIAL
PROVISIONS RELATING TO TAX ON DISTRIBUTED PROFITS OF DOMESTIC COMPANIES
115O Tax on distributed profits of
domestic companies
115P Interest payable for non-payment of
tax by domestic companies
115Q when company is deemed to be in
default
SPECIAL
PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME
115R Tax on distributed income to unit
holders
115S Interest payable for non-payment of
tax
115T Unit Trust of India or mutual fund to
be an assesses in default
SPECIAL
PROVISIONS RELATING TO TAX ON INCOME RECEIVED FROM VENTURE CAPITAL COMPANIES AND VENTURE CAPITAL
FUNDS
115U Tax on income in certain cases
SPECIAL
PROVISIONS RELATING TO INCOME OF SHIPPING COMPANIES
A. - Meaning of certain
expressions
115V Definitions
115VA Computation of
profits and gains from the business of operating qualifying ships
115VB Operating ships
115VC Qualifying Company
115VDQualifying ship
115VE Manner of computation of income under
tonnage tax scheme
115VF Tonnage income
115VGComputation of tonnage income
115VHCalculation in case of joint operation, etc.
115VI relevant shipping income
115VJ Treatment of common costs
115VKDepreciation
115VL General exclusion of deduction and
set off, etc.
115VMExclusion of loss
115VNChargeable gains from transfer of tonnage tax assets
115VOExclusion from provisions of section 115JB
115VP Method and time of opting for tonnage
tax scheme
115VQPeriod for which tonnage tax option to remain in
force
115VR Renewal of tonnage tax scheme
115VS Prohibition to opt for tonnage tax
scheme in certain cases
115VT Transfer of profits to Tonnage Tax Reserve Account
115VUMinimum training
requirement for tonnage Tax Company
115VV Limit for charter in of tonnage
115VWMaintenance and
audit of accounts
115VYAmalgamation
115VZ Demurer
115VZAEffect of temporarily ceasing to operate qualifying
ships
G. - Provisions
of this Chapter not to apply in certain cases
115VZBAvoidance of tax
115VZCExclusion from tonnage tax scheme
INCOME-TAX ON
FRINGE BENEFITS
115W Definitions
115WACharge of fringe benefit tax
115WBFringe benefits
C. - Procedure for filing
of return in respect of fringe benefits, assessment and
Payment of tax in respect
thereof
115WDReturn of fringe benefits
115WEAssessment
115WGFringe benefits escaping assessment
115WHIssue of notice where fringe benefits have escaped
assessment
115WI Payment of fringe benefit tax
115WJ Advance tax in respect of fringe
benefits
115WKInterest for default in furnishing return of fringe
benefits
115WKARecovery of fringe benefit tax by the employer from
the employee
115WLApplication of other provisions of this Act
INCOME-TAX
AUTHORITIES
A. - Appointment and
control
117 Appointment of income-tax authorities
118 Control of income-tax authorities
119 Instructions to subordinate authorities
120 Jurisdiction of income-tax
authorities
121 [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
121A [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
122 [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
123 [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
124 Jurisdiction of Assessing Officers
125 [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
125A [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
126 [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
128 [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
129 Change of incumbent of an office
130 [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
130A [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
C. - Powers
131 Power regarding discovery, production of evidence, etc.
132A Powers to requisition books of account, etc.
132B Application of seized or requisitioned assets
133 Power to call for information
133A Power of survey
133B Power to collect certain information
134 Power to inspect registers of companies
135 Power of Director General or Director, Chief Commissioner
or Commissioner and Joint Commissioner
136 Proceedings before income-tax authorities to be judicial
proceedings
D. -
Disclosure of information
137 [OMITTED BY THE FINANCE ACT, 1964,
W.E.F. 1-4-1964]
138 Disclosure of information respecting
assesses
PROCEDURE FOR
ASSESSMENT
139 Return of income
139B Scheme for submission of returns
through Tax Return Preparers
139C Power of Board to dispense with
furnishing documents, etc., with the return
139D Filing of return in electronic form
140 Return by whom to be signed
140A Self-assessment
141 [OMITTED BY THE TAXATION LAWS
(AMENDMENT) ACT, 1970, W.E.F. 1-4-1971]
141A [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1989]
142A Estimate by Valuation Officer in
certain cases
143 Assessment
144A Power of Joint Commissioner to issue
directions in certain cases
144B [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1989]
145A Method of accounting in certain cases
146 [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1989]
147 Income escaping assessment
148 Issue of notice where income has
escaped assessment
150 Provision for cases where assessment
is in pursuance of an order on appeal, etc.
151 Sanction for issue of notice
152 Other provisions
153 Time limit for completion of
assessments and reassessments
153A Assessment in case of search or
requisition
153B Time limit for completion of
assessment under section 153A
153C Assessment of income of any other
person
153D Prior approval necessary for
assessment in cases of search or requisition
155 Other amendments
156 Notice of demand
158 Intimation of assessment of firm
SPECIAL
PROVISION FOR AVOIDING REPETITIVE APPEALS
SPECIAL
PROCEDURE FOR ASSESSMENT OF SEARCH CASES
158B Definitions
158BA Assessment of undisclosed income as a
result of search
158BB Computation of
undisclosed income of the block period
158BC Procedure for block assessment
158BDUndisclosed income of any other person
158BE Time limit for completion of block
assessment
158BF certain interests and penalties not
to be levied or imposed
158BFALevy of interest and penalty in certain cases
158BGAuthority competent to make the block assessment
158BHApplication of other provisions of this Act
158BI Chapter not to apply after certain
date
LIABILITY IN
SPECIAL CASES
A. - Legal representatives
B. - Representative assesses - General provisions
161 Liability of representative assesses
162 Right of representative assesses to
recover tax paid
C. - Representative assesses - Special cases
163 Who may be regarded as agent?
164 Charge of tax where share of
beneficiaries unknown
164A Charge of tax in case of oral trust
165 Case where part of trust income is
chargeable
166 Direct assessment or recovery not
barred
167 Remedies against property in cases of
representative assesses
DD. - Firms, association
of persons and body of individuals
167A Charge of tax in the case of a firm
167B Charge of tax where shares of members in association of
persons or body of individuals unknown, etc.
168 Executors
169 Right of executor to recover tax paid
170 Succession to business otherwise than
on death
G. - Partition
171 Assessment after partition of a Hindu
undivided family
172 Shipping business of non-residents
173 Recovery of tax in respect of
non-resident from his assets
J. - Persons
leaving India
174 Assessment of persons leaving India
JA. - Association of persons
or body of individuals or artificial juridical p
Person formed for a
particular event or purpose
K. - Persons trying to
alienate their assets
175 Assessment of persons likely to
transfer property to avoid tax
177 Association dissolved or business
discontinued
M. - Private
companies
179 Liability of directors of private
company in liquidation
N. - Special
provisions for certain kinds of income
180 Royalties or copyright fees for
literary or artistic work
180A Consideration for know-how
O. - [Omitted]
181 [OMITTED
BY THE FINANCE ACT, 1988, W.E.F. 1-4-1989]
SPECIAL
PROVISIONS APPLICABLE TO FIRMS
A. - Assessment of firms
182 [OMITTED BY THE FINANCE ACT, 1992,
W.E.F. 1-4-1993]
183 [OMITTED BY THE FINANCE ACT, 1992,
W.E.F. 1-4-1993]
185 Assessment when section 184 not
complied with
C. - Changes
in constitution, succession and dissolution
187 Change in constitution of a firm
188 Succession of one firm by another
firm
188A Joint and several liabilities of
partners for tax payable by firm
189 Firm dissolved or business discontinued
189A Provisions applicable to past
assessments of firms
COLLECTION AND
RECOVERY OF TAX
A. - General
190 Deduction at source and advance
payment
191 Direct payment
B. - Deduction
at source
192 Salary
194 Dividends
194A Interest other than “Interest on
securities”
194B Winnings from lottery or crossword
puzzle
194BB Winnings from horse
race
194C Payments to contractors and
sub-contractors
194D Insurance commission
194E Payments to non-resident sportsmen or
sports associations
194EE Payments in respect of deposits under
National Savings Scheme, etc.
194F Payments on account of repurchase of
units by Mutual Fund or Unit Trust of India
194G Commission, etc., on the sale of
lottery tickets
194I Rent
194J Fees for professional or technical
services
194K Income in respect of units
194L Payment of compensation on
acquisition of capital asset
194LA Payment of compensation on
acquisition of certain immovable property
195 Other sums
195A Income payable “net of tax”
196 Interest or dividend or other sums
payable to Government, Reserve Bank or certain corporations
196A Income in respect of units of
non-residents
196B Income from units
196C Income from foreign currency bonds or
shares of Indian company
196D Incomes of Foreign Institutional
Investors from securities
197 Certificate for deduction at lower
rate
197A No deduction to be made in certain
cases
198 Tax deducted is income received
200 Duty of person deducting tax
201 Consequences of failure to deduct or
pay
202 Deduction only one mode of recovery
203 Certificate for tax deducted
203A Tax deduction and collection account
number
203AA Furnishing of
statement of tax deducted
204 Meaning of “person responsible for
paying”
205 Bar against direct demand on assessee
206 Persons deducting tax to furnish
prescribed returns
206B [OMITTED BY THE FINANCE (NO. 2) ACT,
1996, W.E.F. 1-10-1996]
206C Profits and gains from the business
of trading in alcoholic liquor, forest produce, scrap, etc.
206CA Tax collection account number
C. - Advance payment
of tax
207 Liability for payment of advance tax
208 Conditions of liability to pay
advance tax
209 Computation of advance tax
209A [OMITTED BY THE DIRECT TAX LAWS
(AMDT.) ACT, 1987, W.E.F. 1-4-1988]
211 Installments of advance tax and due
dates
212 [OMITTED BY THE DIRECT TAX LAWS
(AMDT.) ACT, 1987, W.E.F. 1-4-1988]
213 [OMITTED BY THE DIRECT TAX LAWS
(AMDT.) ACT, 1987, W.E.F. 1-4-1988]
214 Interest payable by Government
215 Interest payable by assessee
216 Interest payable by assessee in case
of underestimate, etc.
217 Interest payable by assessee when no
estimate made
218 When assessee deemed to be in default
D. -
Collection and recovery
220 When tax payable and when assessee
deemed in default
221 Penalty payable when tax in default
222 Certificate to Tax Recovery Officer
223 Tax Recovery Officer by whom recovery
is to be affected
224 Validity of certificate and
cancellation or amendment thereof
225 Stay of proceedings in pursuance of
certificate and amendment or cancellation thereof
227 Recovery through State Government
228 [OMITTED BY THE DIRECT TAX LAWS (AMDT.)
ACT, 1987, W.E.F. 1-4-1989]
228A Recovery of tax in pursuance of
agreements with foreign countries
229 Recovery of penalties, fine, interest
and other sums
230A [OMITTED BY THE FINANCE ACT, 2001,
W.E.F. 1-6-2001]
231 [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1989]
232 Recovery by suit or under other law
not affected
233 [OMITTED BY THE TAXATION LAWS
(AMENDMENT) ACT, 1970, W.E.F. 1-4-1971]
234 [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1989]
F. - Interest
chargeable in certain cases
234A Interest for defaults in furnishing
return of income
234B Interest for defaults in payment of
advance tax
234C Interest for deferment of advance tax
234D Interest on excess refund
RELIEF
RESPECTING TAX ON DIVIDENDS IN CERTAIN CASES
235 [OMITTED BY THE FINANCE (NO. 2) ACT,
1971, W.E.F. 1-4-1972]
236 Relief to company in respect of
dividend paid out of past taxed profits
236A Relief to certain charitable
institutions or funds in respect of certain dividends
REFUNDS
237 Refunds
238 Person entitled to claim refund in
certain special cases
239 Form of claim for refund and
limitation
241 [OMITTED BY THE FINANCE ACT, 2001,
W.E.F. 1-6-2001]
242 Correctness of assessment not to be
questioned
243 Interest on delayed refunds
244 Interest on refund where no claim is
needed
244A Interest on refunds
245 Set off of refunds against tax
remaining payable
SETTLEMENT OF
CASES
245A Definitions
245B Income-tax Settlement Commission
245BA Jurisdiction
and powers of Settlement Commission
245BB Vice-Chairman
to act as Chairman or to discharge his functions in certain circumstances
245BC Power of Chairman to transfer cases
from one Bench to another
245BDDecision to be by majority
245C Application for settlement of cases
245D Procedures on receipt of an
application under section 245C
245DDPower of Settlement Commission to order provisional
attachment to protect revenue
245E Power of Settlement Commission to
reopen completed proceedings
245F Powers and procedure of Settlement
Commission
245G Inspections, etc., of reports
245H Power of Settlement Commission to
grant immunity from prosecution and penalty
245HAAbatement of proceeding before Settlement Commission
245HAACredit for tax paid in case of abatement of
proceedings
245I Order of settlement to be conclusive
245J Recovery of sums due under order of
settlement
245K Bar on subsequent application for
settlement
245L Proceedings before Settlement
Commission to be judicial proceedings
245M [OMITTED BY THE FINANCE ACT, 1987,
W.E.F. 1-6-1987]
ADVANCE RULINGS
245N Definitions
245O Authority for advance rulings
245P Vacancies, etc., not to invalidate
proceedings
245Q Application for advance ruling
245R Procedure on receipt of application
245RR Appellate authority not to proceed in
certain cases
245S Applicability of advance ruling
245T Advance ruling to be void in certain
circumstances
APPEALS AND
REVISION
A. - Appeals to the Deputy
Commissioner (Appeals) and Commissioner (Appeals)
246A Appeal able orders before
Commissioner (Appeals)
247 [OMITTED BY THE FINANCE ACT, 1992,
W.E.F. 1-4-1993]
248 Appeal by person denying liability to
deduct tax in certain cases
249 Form of appeal and limitation
251 Powers of the Commissioner (Appeals)
B. - Appeals
to the Appellate Tribunal
253 Appeals to the Appellate Tribunal
254 Orders of Appellate Tribunal
255 Procedure of Appellate Tribunal
C. - [omitted
by the National Tax Tribunal Act, 2005, with effect
From a date
yet to be notified]
256 [OMITTED BY THE NATIONAL TAX TRIBUNAL
ACT, 2005, WITH EFFECT FROM A DATE YET TO BE NOTIFIED]
257 Statement of case to Supreme Court in
certain cases
258 [OMITTED BY THE NATIONAL TAX TRIBUNAL
ACT, 2005, WITH EFFECT FROM A DATE YET TO BE NOTIFIED]
259 [OMITTED BY THE NATIONAL TAX TRIBUNAL
ACT, 2005, WITH EFFECT FROM A DATE YET TO BE NOTIFIED]
260 Effect to the decisions of Supreme
Court and of the National Tax Tribunal
260A Appeal to High Court
260B Case before High Court to be heard by
not less than two Judges
262 Hearing before Supreme Court
263 Revision of orders prejudicial to
revenue
F. - General
265 Tax to be paid notwithstanding
reference, etc.
266 Execution for costs awarded by
Supreme Court
267 Amendment of assessment on appeal
268 Exclusion of time taken for copy
269 Definition of “High Court”
Chapter XXA
ACQUISITION OF
IMMOVABLE PROPERTIES IN CERTAIN CASES OF
TRANSFER TO
COUNTERACT EVASION OF TAX
269A Definitions
269AB Registration of certain transactions
269B competent authority
269C Immovable property in respect of
which proceedings for acquisition may be taken
269D Preliminary notice
269E Objections
269G Appeal against order for acquisition
269H Appeal to High Court
269I Vesting of property in Central
Government
269J Compensation
269K Payment or deposit of compensation
269L Assistance by Valuation Officers
269M Powers of competent authority
269N Rectification of mistakes
269O Appearance by authorized representative
or registered value
269P Statement to be furnished in respect
of transfers of immovable property
269Q Chapter not to apply to transfers to
relatives
269R Properties liable for acquisition
under this Chapter not to be acquired under other laws
269RR Chapter not to apply where transfer
of immovable property made after a certain date
269S Chapter not to extend to State of
Jammu and Kashmir
REQUIREMENT AS
TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT
IN CERTAIN CASES TO COUNTERACT EVASION OF TAX
269SS Mode of taking or accepting certain
loans and deposits
269T Mode of repayment of certain loans or
deposits
269TT Mode of repayment of Special Bearer
Bonds, 1991
PURCHASE BY
CENTRAL GOVERNMENT OF IMMOVABLE PROPERTIES
IN CERTAIN CASES
OF TRANSFER
269UADefinitions
269UCRestrictions on transfer of immovable property
269UDOrder by appropriate authority for purchase by Central
Government of immovable property
269UE Vesting of property in Central
Government
269UF Consideration for purchase of
immovable property by Central Government
269UGPayment or deposit of consideration
269UHRe-vesting of property in the transferor on failure of
payment or deposit of consideration
269UI Powers of the appropriate authority
269UJ Rectification of mistakes
269UL Restrictions on registration, etc.,
of documents in respect of transfer of immovable property
269UMImmunity to transferor against claims of transferee for
transfer
269UNOrder of appropriate authority to be final and conclusive
269UOChapter not to apply to certain transfers
269UP Chapter not to apply where transfer
of immovable property effected after certain date
PENALTIES
IMPOSABLE
270 [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1989]
271 Failure to furnish returns, comply
with notices, concealment of income, etc.
271A Failure to keep, maintain or retain
books of account, documents, etc.
271AAAPenalty where search has been initiated
271B Failure to get accounts audited
271BA Penalty for failure to furnish report
under section 92E
271BB Failure to subscribe to the eligible
issue of capital
271C Penalty for failure to deduct tax at
source
271CA Penalty for failure to collect tax at
source
271D Penalty for failure to comply with
the provisions of section 269SS
271E Penalty for failure to comply with
the provisions of section 269T
271F Penalty for failure to furnish return
of income
271FA Penalty for failure to furnish annual
information return
271FB Penalty for failure to furnish return
of fringe benefits
271G Penalties for failure to furnish
information or document under section 92D
272 [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1989]
272AA Penalty for failure to comply with
the provisions of section 133B
272B Penalty for failure to comply with
the provisions of section 139A
272BB Penalty for failure to comply with
the provisions of section 203A
272BBBPenalty for failure to comply with the provisions of
section 206CA
273 False estimate of, or failure to pay,
advance tax
273A Power to reduce or waive penalty,
etc., in certain cases
273B Penalty not to be imposed in certain
cases
274 Procedure
275 Bar of limitation for imposing
penalties
OFFENCES AND
PROSECUTIONS
275A Contravention of order made under
sub-section (3) of section 132
275B Failure to comply with the provisions
of clause (iib) of sub-section (1) of section 132
276 Removal, concealment, transfer or
delivery of property to thwart tax recovery
276A Failure to comply with the provisions
of sub-sections (1) and (3) of section 178
276AA [OMITTED BY THE FINANCE ACT, 1986,
W.E.F. 1-10-1986]
276AB Failure to comply with the provisions
of sections 269UC, 269UE and 269UL
276B Failure to pay tax to the credit of
Central Government under Chapter XII-D or XVII-B
276BB Failure to pay the tax collected at
source
276C Willful attempt to evade tax, etc.
276CC Failure to furnish returns of income
276CCCFailure to furnish return of income in search cases
276D Failures to produce accounts and
documents
276DD [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987,
W.E.F. 1-4-1989]
276E [OMITTED BY THE DIRECT TAX LAWS
(AMENDMENT) ACT, 1987, W.E.F. 1-4-1989]
277 False statement in verification, etc.
277A Falsification of books of account or
document, etc.
278 Abetment of false return, etc.
278A Punishment for second and subsequent
offences
278AA Punishment not to be imposed in
certain cases
278C Offences by Hindu undivided families
278D Presumption as to assets, books of
account, etc., in certain cases
278E Presumption as to culpable mental
state
279 Prosecution to be at instance of
Chief Commissioner or Commissioner
279A certain offences to be non-cognizable
279B Proof of entries in records or
documents
280 Disclosure of particulars by public
servants
ANNUITY DEPOSITS
280A TO 280X [OMITTED BY
THE FINANCE ACT, 1988, W.E.F. 1-4-1988]
TAX CREDIT
CERTIFICATES
280Y [OMITTED BY THE FINANCE ACT, 1990,
W.E.F. 1-4-1990]
280Z [OMITTED BY THE FINANCE ACT, 1990,
W.E.F. 1-4-1990]
280ZA [OMITTED BY THE FINANCE ACT, 1987,
W.E.F. 1-4-1988]
280ZB [OMITTED BY THE FINANCE ACT, 1990,
W.E.F. 1-4-1990]
280ZC [OMITTED BY THE FINANCE ACT, 1990,
W.E.F. 1-4-1990]
280ZD [OMITTED BY THE FINANCE ACT, 1990,
W.E.F. 1-4-1990]
280ZE [OMITTED BY THE FINANCE ACT, 1990,
W.E.F. 1-4-1990]
MISCELLANEOUS
281 Certain transfers to be void
281A [REPEALED BY THE BENAMI TRANSACTIONS
(PROHIBITION) ACT, 1988, W.E.F. 19-5-1988]
281B Provisional attachment to protect
revenue in certain cases
282 Service of notice generally
283 Service of notice when family is
disrupted or firm, etc., is dissolved
284 Service of notice in the case of
discontinued business
285 [OMITTED BY THE FINANCE ACT, 1987,
W.E.F. 1-6-1987]
285A [OMITTED BY THE FINANCE ACT, 1988,
W.E.F. 1-4-1988]
285B Submission of statements by producers
of cinematograph films
285BA Obligation to furnish annual
information return
286 [OMITTED BY THE FINANCE ACT, 1987,
W.E.F. 1-6-1987]
287 Publication of information respecting
assesses in certain cases
287A Appearance by registered value in
certain matters
288 Appearance by authorized
representative
288B Rounding off amount payable and
refund due
290 Indemnity
291 Power to tender immunity from
prosecution
292B Return of income, etc., not to be
invalid on certain grounds
292C Presumption as to assets, books of
account, etc.
293 Bar of suits in civil courts
293B Power of Central Government or Board
to condone delays in obtaining approval
294 Act to have effect pending
legislative provision for charge of tax
294A Power to make exemption, etc., in
relation to certain Union territories
296 Rules and certain notifications to be
placed before Parliament
298 Power to remove difficulties