Income-tax Act, 1961
Arrangement
of Sections
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 undertakings in free trade zones, etc
10B. Special provisions in respect of newly established hundred per cent export-oriented undertakings
10BB. Meaning of computer programmes 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
CHAPTER IV
COMPUTATION OF TOTAL INCOME
Heads of income
14. 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]
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 subset quently
25AA. Unrealised 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
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
35DDA. Amortisation of expenditure incurred under voluntary retirement scheme
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 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
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
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]
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
F.—Income
from other sources
CHAPTER V
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
CHAPTER VI
AGGREGATION OF
INCOME AND SET OFF OR CARRY FORWARD OF LOSS
Aggregation of
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
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
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
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]
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.
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]
80M(new). Deduction
in respect of certain corporate dividends
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. [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. 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
CHAPTER XI
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]
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 recognised 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
115B. Tax
on profits and gains of life insurance business
115BBA. Tax
on non-resident sportsmen or sports associations
CHAPTER XIIA
SPECIAL PROVISIONS RELATING TO CERTAIN INCOMES OF
NON-RESIDENTS
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
115I. Chapter
not to apply if the assessee so chooses
CHAPTER
XIIB
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 XIIC
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
XIID
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
CHAPTER XIIE
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 assessee in default
CHAPTER XIIF
SPECIAL PROVISIONS RELATING TO TAX ON INCOMERECEIVED
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.
132A. Powers
to requisition books of account, etc.
132B. Application
of seized or requisitioned assets
133. Power
to call for information
133B. Power
to collect certain information
134. Power
to inspect registers of companies
136. Proceedings
before income-tax authorities to be judicial proceedings
137. [Omitted
by the finance act, 1964, w.e.f. 1-4-1964]
138. Disclosure
of information respecting assessees
CHAPTER XIV
PROCEDURE FOR
ASSESSMENT
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 assessment
150. Provision
for cases where assessment is in pursuance of an order on appeal, etc.
151. Sanction
for issue of notice
153. Time
limit for completion of assessments and reassessments
158. Intimation
of assessment of firm
CHAPTER XIVA
SPECIAL
PROVISION FOR AVOIDING REPETITIVE APPEALS
SPECIAL
PROCEDURE FOR ASSESSMENT OF SEARCH CASES
158B. Definitios
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 assesses
DD.—Firms,
association of persons and body of individuals
167A. Charge
of tax in the case of a firm
E.—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
JA.—Association
of persons or body of individuals or
Artificial
juridical 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
L.—Discontinuance
of business, or dissolution
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]
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]
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
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
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. [O
mitted by the finance (no. 2) act, 1996, w.e.f. 1-10-1996]
BB.—Collection
at source
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. Instalments
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
230. Tax
clearance certificate
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
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
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
245. Set
off of refunds against tax remaining payable
CHAPTER XIXA
SETTLEMENT OF
CASES
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
245HA. [Omitted
by the finance act, 2002, w.e.f. 1-6-2002.]
245-I. Order
of settlement to be conclusive
245J. Recovery
of sums due under order of settlement
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 XIXB
ADVANCE RULINGS
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
CHAPTER XX
APPEALS AND
REVISION
A.—Appeals
to the Deputy Commissioner (Appeals) and Commissioner (Appeals)
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
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.—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
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 XXA
ACQUISITION OF IMMOVABLE PROPERTIES IN CERTAIN CASES OF
TRANSFER TO COUNTERACT EVASION OF TAX
269AB. Registration
of certain transactions
269C. Immovable
property in respect of which proceedings for acquisition may be taken
269G. Appeal
against order for acquisition
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
XXB
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
CHAPTER XXC
PURCHASE BY CENTRAL GOVERNMENT OF IMMOVABLE
PROPERTIES IN CERTAIN CASES OF TRANSFER
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 Government
269UF. Consideration
for purchase of immovable property by Central Government
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
269UP. Chapter
not to apply where transfer of immovable property effected after certain date
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
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
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
271G. Penalty
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
272BBB. Penalty
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
275. Bar
of limitation for imposing penalties
CHAPTER XXII
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
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 XXIIA
ANNUITY DEPOSITS
280A. [Omitted
by the finance act, 1988, w.e.f. 1-4-1988]
CHAPTER
XXIIB
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
288B. Rounding
off of tax, etc.
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
296. Rules
and certain notifications to be placed before Parliament