Income-tax Act, 1961
ARRANGEMENT OF SECTIONS
INDEX
CHAPTER I
PRELIMINARY
1.
Short title, extent and commencement
2.
Definitions
CHAPTER II
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
CHAPTER III
INCOMES WHICH
DO NOT FORM PART OF
TOTAL INCOME
10. Incomes not included in total income
10A. Special provision in respect of newly established
industrial undertakings in free trade zones
10B. Special provision in respect of newly established hundred
per cent export-oriented undertakings
10C. Special provision in respect of certain industrial
undertake ings 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
CHAPTER IV
COMPUTATION OF
TOTAL INCOME
HEADS OF INCOME
14. Heads of 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]
C.—Income from house property
22. Income from house property
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 unrealised rent allowed
as deduction is realised subsequently
25B. Special provision for arrears of rent received
26. Property owned by co-owners
27. “Owner of
house property”, “annual charge”, etc., defined
D.—Profits and gains of business or profession
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
32A. Investment allowance
32AB. Investment deposit account
33AB. Tea development account
33ABA. Site Restoration Fund
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
35AB. Expenditure on know-how
35ABB. Expenditure for obtaining licence 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. Amortisation of certain preliminary expenses
35DD. Amortisation of expenditure in case
of amalgamation or demerger
35E. Deduction for expenditure on prospecting, etc., for
certain minerals
36. Other deductions
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 paymen
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
44C.
Deduction
of head office expenditure in the 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
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]
54C. [OMITTED
BY THE FINANCE ACT, 1976, W.E.F. 1-4-1976]
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
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
INCOME OF OTHER PERSONS, INCLUDED IN
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
CHAPTER VI
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
Set off, or carry forward and set off
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”
75. Losses of firms
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
CHAPTER VI-A
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
80B. Definitions
B.—Deductions in respect of certain payments
80C. [OMITTED BY THE FINANCE ACT, 1990, W.E.F. 1-4-1991]
80CC. [OMITTED BY THE FINANCE (NO. 2) ACT, 1996, W.R.E.F.
1-4-1993]
80CCA. Deduction in respect of deposits under National Savings
Scheme or payment to a deferred annuity plan
80CCB. Deduction in respect of investment made under Equity
Linked Savings Scheme
80CCC. Deduction in respect of contribution to certain pension
funds
80D. Deduction in respect of medical insurance premia
80DD. Deduction in respect of maintenance including medical
treatment of handicapped dependent
80DDB. Deduction in respect of medical treatment, etc
80E. Deduction in respect of repayment of 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. Deduction in respect of donations to certain funds,
charitable institutions, etc.
80GG. Deductions in respect of rents paid
80GGA. Deduction in respect of certain donations for scientific
research or rural development
C.—Deductions in respect of certain incomes
80H. [OMITTED BY THE TAXATION LAWS (AMENDMENT) ACT, 1975,
W.E.F. 1-4-1976]
80HHB. Deduction in respect of profits and gains from projects
outside India
80HHBA. Deduction in respect of profits and gains from
housing projects in certain cases
80HHC. Deduction in respect of profits retained for export
business
80HHD. Deduction in respect of earnings in convertible foreign
exchange
80HHE. Deduction in respect of profits from export
of computer software, etc
80HHF. Deduction in respect of profits and gains from export or
transfer of film software, etc.
80-I Deduction in respect of profits and gains
from industrial undertakings after a certain date, etc
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]
80JJAA. Deduction in respect of employment of new workmen
80K. [OMITTED BY THE FINANCE ACT, 1986, W.E.F. 1-4-1987]
80L. Deductions in respect of interest on certain securities,
dividends, etc
80M. [OMITTED BY THE FINANCE ACT, 1997, W.E.F. 1-4-1998]
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]
80-O. 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]
80QQA. Deduction in respect of professional income of authors of
text books in Indian languages
80RR. Deduction in respect of professional income from foreign
sources in certain cases
80RRA. Deduction in respect of remuneration received for services
rendered outside India
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 the case of permanent physical disability
(including blindness)
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]
CHAPTER VI-B
RESTRICTION ON
CERTAIN DEDUCTIONS
IN THE CASE OF
COMPANIES
80VVA. [OMITTED BY
THE FINANCE ACT, 1987, W.E.F. 1-4-1988]
CHAPTER VII
INCOMES
FORMING PART OF TOTAL INCOME
ON WHICH NO INCOME-TAX IS PAYABLE
81. to
85C. [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]
CHAPTER VIII
REBATES AND
RELIEFS
A.—Rebate of income-tax
87. Rebate to be
allowed in computing income-tax
88. Rebate on life insurance premia, contribution to provident
fund, etc
88A. [OMITTED BY THE FINANCE (NO. 2) ACT, 1996, W.R.E.F.
1-4-1994]
88B. Rebate of income-tax in case of individuals of sixty-five
years or above
88C. Rebate of income-tax in case of women below sixty-five
years
B.—Relief for income-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]
CHAPTER IX
DOUBLE
TAXATION RELIEF
90. Agreement
with foreign countries
91. Countries with which no agreement exists
CHAPTER X
SPECIAL
PROVISIONS RELATING TO AVOIDANCE
OF TAX
92.
Income from transactions
with non-residents, how computed in certain cases
93.
Avoidance of income-tax by transactions resulting in
transfer of income to non-residents
94.
Avoidance
of tax by certain transactions in securities
CHAPTER XI
ADDITIONAL
INCOME-TAX ON
UNDISTRIBUTED
PROFITS
95. to
103. [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]
CHAPTER XII
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
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
115BBA. Tax on non-resident sportsmen or sports associations
CHAPTER XII-A
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 assessee becomes resident
115-I. Chapter not to apply if the assessee so chooses
CHAPTER XII-B
SPECIAL
PROVISIONS RELATING TO
CERTAIN COMPANIES
115J. Special
provisions relating to certain companies
115JA. Deemed income relating to certain companies
115JAA. Tax credit in respect of tax paid on deemed income
relating to certain companies
115JB. Special provision for payment of tax by certain
companies
CHAPTER XII-C
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]
CHAPTER xIi-d
special provisions relating to tax on
distributed profits of domestic companies
115-O. 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
CHAPTER xIi-E
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 assessee in
default
CHAPTER xIi-F
Special provisions
relating to tax on income RECEIVED FROM venture capital companies and venture
capital funds
115U. Tax on income in certain cases
CHAPTER XIII
INCOME-TAX
AUTHORITIES
A.—Appointment and control
117.
Appointment
of income-tax authorities
118.
Control
of income-tax authorities
119.
Instructions to subordinate authorities
B.—Jurisdiction
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
132. Search and seizure
132A. Powers to requisition books of account, etc
132B. Application of retained 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 assessees
CHAPTER XIV
PROCEDURE FOR
ASSESSMENT
139. Return of
income
139A. Permanent
account number
140. Return
by whom to be signed
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]
142. Inquiry
before 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 assesment
150.
Provision
for cases where assessment is in pursuance of an order on appeal, etc
152.
Sanction
for issue of notice
153.
Other
provisions
154.
Time
limit for completion of assessments and reassessments
156.
Other
amendments
157.
Notice
of demand
158.
Intimation
of loss
159.
Intimation
of assessment of firm
SPECIAL
PROVISION FOR AVOIDING
REPETITIVE
APPEALS
CHAPTER XIV-B
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
158BD. Undisclosed
income of any other person
158BE. Time
limit for completion of block assessment
158BF. Certain
interests and penalties not to be levied or imposed
158BFA. Levy of interest and penalty in certain cases
158BG. Authority
competent to make the block assessment
158BH. Application
of other provisions of this Act
CHAPTER XV
LIABILITY IN
SPECIAL CASES
A.—Legal representatives
B.—Representative assessees - General provisions
161.
Liability
of representative assessee
162.
Right
of representative assessee to recover tax paid
C.—Representative assessees - 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
D.—Representative assessees - Miscellaneous provisions
166.
Direct
assessment or recovery not barred
167.
Remedies
against property in cases of representative assessees
DD.—Firms, association of persons and
body of individuals
167A. Charge
of tax in the case of a firm
E.—Executors
168.
Executors
169.
Right
of executor to recover tax paid
F.—Succession to business or profession
170. Succession
to business otherwise than on death
G.—Partition
171. Assessment
after partition of a Hindu Undivided Family
H.—Profits of non-residents from occasional
shipping business
172. Shipping
business of non-residents
I.—Recovery of tax in respect 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
K.—Persons trying to alienate their assets
175. Assessment
of persons likely to transfer property to avoid tax
L.—Discontinuance of business, or dissolution
177.
Association
dissolved or business discontinued
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]
CHAPTER XVI
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]
184.
Assessment
as a firm
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 liability of partners for tax payable by firm
189. Firm
dissolved or business discontinued
189A. Provisions
applicable to past assessments of firms
CHAPTER XVII
COLLECTION AND
RECOVERY OF TAX
A.—General
190. Deduction at
source and advance payment
B.—Deduction at source
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
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
194H. [Omitted
by the Finance Act, 1999, w.e.f. 1-4-2000]
194J. Fees
for professional or technical services
194K. Income
in respect of units
194L. Payment
of compensation on acquisition of capital asset
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
196C. Income
from foreign currency bonds or shares of Indian company
196D. Income
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 account number
204. Meaning
of “person responsible for paying”
205. Bar
against direct demand on assessee
206. Persons
deducting tax to furnish prescribed returns
206A. [OMITTED
BY THE FINANCE (NO. 2) ACT, 1996, W.E.F. 1-10-1996]
206B. [OMITTED
BY THE FINANCE (NO. 2) ACT, 1996, W.E.F. 1-10-1996]
BB.—Collection at source
206C. Profits
and gains from the business of trading in alcoholic liquor, forest produce,
scrap, etc
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 (AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
211.
Instalments
of advance tax and due dates
212.
[OMITTED
BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
213.
[OMITTED
BY THE DIRECT TAX LAWS (AMENDMENT) 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 under estimate, 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 effected
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 (AMENDMENT) 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
230.
Tax
clearance certificate
230A. Restrictions
on registration of transfers of immovable property in certain cases
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
E.—Tax payable under provisional assessment
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
CHAPTER XVIII
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
CHAPTER XIX
REFUNDS
237.
Refunds
238.
Person entitled to
claim refund in certain special cases
239.
Form of claim for
refund and limitation
241.
Power to withhold refund in certain
cases
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
CHAPTER XIX-A
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
245BD. Decision to be by majority
245C. Application for settlement of cases
245D. Procedure on receipt of an application under section 245C
245DD. Power 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. Inspection, etc., of reports
245H. Power of Settlement Commission to grant immunity from
prosecution and penalty
245-I. Order of settlement to be conclusive
245J. Recovery of sums due under order of settlemen
245K. Bar on subsequent application for settlement in certain
cases
245L. Proceedings before Settlement Commission to be judicial
proceedings
245M. [OMITTED BY THE FINANCE ACT, 1987, W.E.F. 1-6-1987]
CHAPTER XIX-B
ADVANCE
RULINGS
245N. Definitions
245-O. 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
245U. Powers of the Authority
245V. Procedure of Authority
CHAPTER XX
APPEALS AND
REVISION
A.—Appeals to the Deputy Commissioner (Appeals)
and Commissioner (Appeals)
246. Appealable orders
246A. Appealable 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
249.
Form of appeal and
limitation
250.
Procedure in
appeal
251.
Powers of the
Commissioner (Appeals)
B.—Appeals to the Appellate Tribunal
252.
Appellate Tribunal
253.
Appeals to the
Appellate Tribunal
254.
Orders of
Appellate Tribunal
255.
Procedure of Appellate Tribunal
C.—Reference to High Court
256.
Statement of case
to the High Court
257.
Statement of case
to Supreme Court in certain cases
258.
Power of High
Court or Supreme Court to require statement to be amended
259.
Case before High
Court to be heard by not less than two Judges
260.
Decision of High
Court or Supreme Court on the case stated
CC.—Appeals to High Court
260A. Appeal to High Court
260B. Case before High Court to be heard by not less than two
Judges
D.—Appeals to the Supreme Court
262.
Hearing before
Supreme Court
E.—Revision by the Commissioner
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 XX-A
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
269F. Hearing of objections
269G. Appeal against order for acquisition
269H. Appeal to High Court
269-I. Vesting
of property in Central Government
269K. Payment
or deposit of compensation
269L. Assistance
by Valuation Officers
269M. Powers
of competent authority
269N. Rectification
of mistakes
269-O. Appearance
by authorised representative or registered valuer
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
CHAPTER XX-B
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 deposits
269TT. Mode
of repayment of Special Bearer Bonds, 1991
CHAPTER XX-C
PURCHASE BY
CENTRAL GOVERNMENT OF
IMMOVABLE
PROPERTIES IN CERTAIN
CASES OF TRANSFER
269U. Commencement
of Chapter
269UC. Restrictions
on transfer of immovable property
269UD. Order
by appropriate authority for purchase by Central Government of immovable property
269UE. Vesting of property in Central Governmen
269UF. Consideration for purchase of immovable property by
Central Governen
269UG. Payment or deposit of consideration
269UH. Re-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
269UM. Immunity to transferor against claims of transferee for transfer
269UN. Order of appropriate authority to be final and conclusive
269UO. Chapter not to apply to certain transfers
CHAPTER XXI
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.
271B. Failure to get accounts audited
271BB. Failure to subscribe to the eligible issue of capital
271C. Penalty for failure to deduct 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
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. [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987,
W.E.F. 1-4-1989]
272BB. Penalty for failure to comply with the provisions of
section 203A
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
CHAPTER XXII
OFFENCES AND
PROSECUTIONS
275A. Contravention of order made under sub-section (3) 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. Wilful attempt to evade tax, etc.
276CC. Failure
to furnish returns of income
276CCC. Failure
to furnish return of income in search cases
276D. Failure
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.
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
CHAPTER XXII-A
ANNUITY
DEPOSITS
280X. [OMITTED BY
THE FINANCE ACT, 1988, W.E.F. 1-4-1988]
CHAPTER XXII-B
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]
CHAPTER XXIII
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
286. [OMITTED BY THE FINANCE ACT, 1987, W.E.F. 1-6-1987]
287. Publication of information respecting assessees in certain
cases
287A. Appearance by registered valuer in certain matters
288. Appearance by authorised representative
288A. Rounding off of income
288B. Rounding off of tax, etc
289. Receipt to be given
290. Indemnity
291. Power to tender immunity from prosecution
292B. Return of income, etc., not to be invalid on certain
grounds
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
295. Power to make rules
296. Rules and certain notifications to be placed before
Parliament
297. Repeals and savings