Income Tax Act , 1961

CHAPTER I

PRELIMINARY

Section – 1 : Short title, extent and commencement.

Section – 2 : Definitions.

Section – 3 : “Previous year”defined.

CHAPTER II

BASIS OF CHARGE

Section – 4 : Charge of income-tax

Section – 5 : Scope of total income. 

Section – 5A : Apportionment of income between spouses governed by Portuguese Civil Code.

Section – 6 : Residence in India. 

Section – 7 : Income deemed to be received. 

Section – 8 : Dividend income. 

Section – 9 : Income deemed to accrue or arise in India. 

Section – 9A : Certain activities not to constitute business connection in India.

CHAPTER III

INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME

Section – 10 : Incomes not included in total income. 

Section – 10A : Special provision in respect of newly established undertakings in free trade zone, etc.

Section – 10AA : Special provisions in respect of newly established Units in Special Economic Zones.

Section – 10B : Special provisions in respect of newly established hundred per cent export-oriented undertakings.

Section – 10BA : Special provisions in respect of export of certain articles or things.

Section – 10BB : Meaning of computer programmes in certain cases.

Section – 10C : Special provision in respect of certain industrial undertakings in North- Eastern Region.

Section – 11 : Income from property held for charitable or religious purposes. 

Section – 12 : Income of trusts or institutions from contributions.

Section – 12A : Conditions for applicability of sections 11 and 12.

Section – 12AA : Procedure for registration.

Section – 13 : Section 11 not to apply in certain cases.

Section – 13A : Special provision relating to incomes of political parties.

Section – 13B : Special provisions relating to voluntary contributions received by electoral trust.

CHAPTER IV

COMPUTATION OF TOTAL INCOME

Section – 14 : Heads of income

Section – 14A : Expenditure incurred in relation to income not includible in total income.

A. Salaries

Section – 15 : Salaries

Section – 16 : Deductions from salaries. 

Section – 17 : “Salary”, “perquisite” and “profits in lieu of salary” defined. 

Section – 18 :  Omitted by the Finance Act, 1988, w.e.f. 1-4-1989.

Section – 19 : Omitted by the Finance Act, 1988, w.e.f. 1-4-1989.

Section – 20 : Omitted by the Finance Act, 1988, w.e.f. 1-4-1989.

Section – 21 : Omitted by the Finance Act, 1988, w.e.f. 1-4-1989. 

C. Income from house property

Section – 22 : Income from house property

 
 
 
 

Section – 26 : Property owned by co-owners

Section – 27 : “Owner of house property”, “annual charge”, etc., defined

D. Profits and gains of business or profession

Section – 28 : Profits and gains of business or profession

Section – 29 : Income from profits and gains of business or profession, how computed

Section – 30 : Rent, rates, taxes, repairs and insurance for buildings

Section – 31 : Repairs and insurance of machinery, plant and furniture

Section – 32 : Depreciation

Section – 32A : Investment allowance

Section – 32AB : Investment deposit account

Section – 32AC : Investment in new plant or machinery

Section – 32AD : Investment in new plant or machinery in notified backward areas in certain States

Section – 33 : Development rebate

Section – 33A : Development allowance

Section – 33AB : Tea development account 22,coffee development account and rubber deve-lopment account

Section – : 33ABA : Site Restoration Fund.

Section – 33AC : Reserves for shipping business.

Section – 33B : Rehabilitation allowance.

Section – 34 : Conditions for depreciation allowance and development rebate.

Section – 34A : Restriction on unabsorbed depreciation and unabsorbed investment allowance for limited period in case of certain domestic companies.

Section – 35 : Expenditure on scientific research

Section – 35A : Expenditure on acquisition of patent rights or copyrights.

Section – 35AB : Expenditure on know-how.

Section – 35ABA : Expenditure for obtaining right to use spectrum for telecommunication services.

Section – 35ABB : Expenditure for obtaining licence to operate telecommunication services.

Section – 35AC : Expenditure on eligible projects or schemes.

Section – 35AD : Deduction in respect of expenditure on specified business.

Section – 35B : Export markets development allowance. : Omitted by the Direct Tax Laws (Amendment) Act, 1987, as amended by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989. Original section 35B was inserted by the Finance Act, 1968, w.e.f. 1-4-1968.

Section – 35C : Agricultural development allowance. : Omitted by the Direct Tax Laws (Amendment) Act, 1987, as amended by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989. Original section 35C was inserted by the Finance Act, 1968, w.e.f. 1-4-1968.

Section – 35CC : Rural development allowance. : Omitted by the Direct Tax Laws (Amendment) Act, 1987, as amended by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989. Original section 35CC was inserted by the Finance (No. 2) Act, 1977, w.e.f. 1-9-1977.

Section – 35CCA : Expenditure by way of payment to associations and institutions for carrying out rural development programmes.

Section – 35CCB : Expenditure by way of payment to associations and institutions for carrying out programmes of conservation of natural resources.

Section – 35CCC : Expenditure on agricultural extension project.

Section – 35CCD : Expenditure on skill development project.

Section – 35D : Amortisation of certain preliminary expenses.

Section – 35DD : Amortisation of expenditure in case of amalgamation or demerger.

Section – 35DDA : Amortisation of expenditure incurred under voluntary retirement scheme.

Section – 35E : Deduction for expenditure on prospecting, etc., for certain minerals.

Section – 36 : Other deductions.

Section – 37 : General.

Section – 38 : Building, etc., partly used for business, etc., or not exclusively so used.

Section – 39 : Managing agency commission. [Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.]

Section – 40 : Amounts not deductible.

Section – 40A : Expenses or payments not deductible in certain circumstances.

Section – 41 : Profits chargeable to tax

Section – 42 : Special provision for deductions in the case of business for prospecting, etc., for mineral oil

Section – 43 : Definitions of certain terms relevant to income from profits and gains of business or profession

Section – 43A : Special provisions consequential to changes in rate of exchange of currency.

Section – 43B : Certain deductions to be only on actual payment

Section – 43C : Special provision for computation of cost of acquisition of certain assets

Section – 43CA : Special provision for full value of consideration for transfer of assets other than capital assets in certain cases

Section – 43D : Special provision in case of income of public financial institutions, public companies, etc

Section – 44 : Insurance business

Section – 44A : Special provision for deduction in the case of trade, professional or similar association

Section – 44AA : Maintenance of accounts by certain persons carrying on profession or business

Section – 44AB Audit of accounts of certain persons carrying on business or profession

Section – 44AC : Omitted by the Finance Act, 1992, w.e.f. 1-4-1993. 

Section – 44AD : Special provision for computing profits and gains of business on presumptive basis

Section – 44ADA : Special provision for computing profits and gains of profession on presumptive basis

Section – 44AE : Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages

Section – 44AF : Special provisions for computing profits and gains of retail business

Section – 44B : Special provision for computing profits and gains of shipping business in the case of non-residents

Section – 44BB : Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils

Section – 44BBA : Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents

Section – 44BBB : Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects.

Section – 44C : Deduction of head office expenditure in the case of non-residents.

Section – 44D : Special provisions for computing income by way of royalties, etc., in the case of foreign companies

Section – 44DA : Special provision for computing income by way of royalties, etc., in case of non-residents

Section – 44DB : Special provision for computing deductions in the case of business reorganization of co-operative banks

Section – 45 : Capital gains

Section – 46 : Capital gains on distribution of assets by companies in liquidation.

Section – 46A : Capital gains on purchase by company of its own shares or other specified securities

Section – 47 : Transactions not regarded as transfer

Section – 47A : Withdrawal of exemption in certain cases

Section – 48 : Mode of computation

Section – 49 : Cost with reference to certain modes of acquisition

Section – 50 : Special provision for computation of capital gains in case of depreciable assets

Section – 50A : Special provision for cost of acquisition in case of depreciable asset.

Section – 50B : Special provision for computation of capital gains in case of slump sale.

Section – 50C : Special provision for full value of consideration in certain cases.

Section – 50CA : Special provision for full value of consideration for transfer of share other than quoted share

Section – 50D : Fair market value deemed to be full value of consideration in certain cases

Section – 51 : Advance money received.

Section – 52 : Omitted by the Finance Act, 1987, w.e.f. 1-4-1988

Section – 53 : Omitted by the Finance Act, 1992, w.e.f. 1-4-1993.

Section – 54 : Profit on sale of property used for residence

Section – 54A : Omitted by the Finance (No. 2) Act, 1971, w.e.f. 1-4-1972. Original section was inserted by the Finance Act, 1965, w.e.f. 1-4-1965.

Section – 54B : Capital gain on transfer of land used for agricultural purposes not to be charged in certain cases.

Section – 54C : Omitted by the Finance Act, 1976, w.e.f. 1-4-1976. Original section was inserted by the Finance Act, 1972, w.e.f. 1-4-1973.

Section – 54D : Capital gain on compulsory acquisition of lands and buildings not to be charged in certain cases

Section – 54E : Capital gain on transfer of capital assets not to be charged in certain cases

Section – 54EA : Capital gain on transfer of long-term capital assets not to be charged in the case of investment in specified securities

Section – 54EB : Capital gain on transfer of long-term capital assets not to be charged in certain cases

Section – 54EC : Capital gain not to be charged on investment in certain bonds

Section – 54ED : Capital gain on transfer of certain listed securities or unit not to be charged in certain cases

Section – 54EE : Capital gain not to be charged on investment in units of a specified fund

Section – 54F : Capital gain on transfer of certain capital assets not to be charged in case of investment in residential house

Section – 54G : Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area

Section – 54GA : Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone

Section – 54GB : Capital gain on transfer of residential property not to be charged in certain cases

Section – 54H : Extension of time for acquiring new asset or depositing or investing amount of capital gain

Section – 55 : Meaning of “adjusted”, “cost of improvement” and “cost of acquisition”

Section – 55A : Reference to Valuation Officer

F. Income from other sources

Section – 56 : Income from other sources

Section – 57 : Deductions

Section – 58 : Amounts not deductible

Section – 59 : Profits chargeable to tax

CHAPTER V

INCOME OF OTHER PERSONS, INCLUDED IN ASSESSEE’S TOTAL INCOME

Section – 60 : Transfer of income where there is no transfer of assets

Section – 61 : Revocable transfer of assets

Section – 62 : Transfer irrevocable for a specified period

Section – 63 : “Transfer” and “revocable transfer” defined

Section – 64 : Income of individual to include income of spouse, minor child, etc

Section – 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

Section – 66 : Total income

Section – 67 : Omitted by the Finance Act, 1992, w.e.f. 1-4-1993

Section – 67A : Method of computing a member’s share in income of association of persons or body of individuals.

Section – 68 : Cash credits

Section – 69 : Unexplained investments

Section – 69A : Unexplained money, etc

Section – 69B : Amount of investments, etc., not fully disclosed in books of account

Section – 69C : Unexplained expenditure, etc

Section – 69D : Amount borrowed or repaid on hundi

Set off, or carry forward and set off

Section – 70 : Set off of loss from one source against income from another source under the same head of income

Section – 71 : Set off of loss from one head against income from another

Section – 71A : Transitional provisions for set off of loss under the head “Income from house property”

Section – 71B : Carry forward and set off of loss from house property

Section – 72 : Carry forward and set off of business losses

Section – 72A : Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in amalgamation or demerger, etc.

Section – 72AA : Provisions relating to carry forward and set-off of accumulated loss and unabsorbed depreciation allowance in scheme of amalgamation of banking company in certain cases

Section – 72AB : Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in business reorganisation of co-operative banks

Section – 73 : Losses in speculation business

Section – 73A : Carry forward and set off of losses by specified business

Section – 74 : Losses under the head “Capital gains”

Section – 74A : Losses from certain specified sources falling under the head “Income from other sources”

Section – 75 : Losses of firms

Section – 76 : Omitted by the Finance Act, 1992, w.e.f. 1-4-1993

Section – 77 : Omitted by the Finance Act, 1992, w.e.f. 1-4-1993

Section – 78 : Carry forward and set off of losses in case of change in constitution of firm or on succession

Section – 79 : Carry forward and set off of losses in the case of certain companies

Section – 80 : Submission of return for losses

CHAPTER VIA

DEDUCTIONS TO BE MADE IN COMPUTING TOTAL INCOME

A. General

Section – 80A : Deductions to be made in computing total income

Section – 80AA : Omitted by the Finance Act, 1997, w.e.f. 1-4-1998.

Section – 80AB : Deductions to be made with reference to the income included in the gross total income

Section – 80AC : Deduction not to be allowed unless return furnished

Section – 80B : Definitions

Section – 80C : Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc.

Section – 80CC : Omitted by the Finance (No. 2) Act, 1996, w.r.e.f. 1-4-1993.

Section – 80CCA : Deduction in respect of deposits under National Savings Scheme or payment to a deferred annuity plan

Section – 80CCB : Deduction in respect of investment made under Equity Linked Savings Scheme

Section – 80CCC : Deduction in respect of contribution to certain pension funds

Section – 80CCD : Deduction in respect of contribution to pension scheme of Central Government

Section – 80CCE : Limit on deductions under sections 80C, 80CCC and 80CCD

Section – 80CCF : Deduction in respect of subscription to long-term infrastructure bonds

Section – 80CCG : Deduction in respect of investment made under an equity savings scheme

Section – 80D : Deduction in respect of health insurance premia

Section – 80DD : Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability

Section – 80DDB : Deduction in respect of medical treatment, etc.

Section – 80E : Deduction in respect of interest on loan taken for higher education

Section – 80EE : Deduction in respect of interest on loan taken for residential house property

Section – 80F : Omitted by the Finance Act, 1985, w.e.f. 1-4-1986.

Section – 80FF : Omitted by the Finance (No. 2) Act, 1980, w.e.f. 1-4-1981. Original section was inserted by the Finance Act, 1975, w.e.f. 1-4-1976.

Section – 80G : Deduction in respect of donations to certain funds, charitable institutions, etc.

Section – 80GG : Deductions in respect of rents paid

Section – 80GGA : Deduction in respect of certain donations for scientific research or rural development

Section – 80GGB : Deduction in respect of contributions given by companies to political parties

Section – 80GGC : Deduction in respect of contributions given by any person to political parties

C. Deductions in respect of certain incomes

Section – 80H : Omitted by the Taxation Laws (Amendment) Act, 1975, w.e.f. 1-4-1976. Originally, it was inserted by the Finance (No. 2) Act, 1967, w.e.f. 1-4-1968.

Section – 80HH : Deduction in respect of profits and gains from newly established industrial undertakings or hotel business in backward areas

Section – 80HHA : Deduction in respect of profits and gains from newly established small-scale industrial undertakings in certain areas

Section – 80HHB : Deduction in respect of profits and gains from projects outside India

Section – 80HHBA : Deduction in respect of profits and gains from housing projects in certain cases

Section – 80HHC : Deduction in respect of profits retained for export business

Section – 80HHD : Deduction in respect of earnings in convertible foreign exchange

Section – 80HHE : Deduction in respect of profits from export of computer software, etc.

Section – 80HHF : Deduction in respect of profits and gains from export or transfer of film software, etc.

Section – 80-I : Deduction in respect of profits and gains from industrial undertakings after a certain date, etc.

Section – 80-IA : Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc.

Section – 80-IAB : Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone

Section – 80-IAC : Special provision in respect of specified business

Section – 80-IB : Deduction in respect of profits and gains from certain industrial undertakings other than infrastructure development undertakings

Section – 80-IBA : Deductions in respect of profits and gains from housing projects

Section – 80-IC : Special provisions in respect of certain undertakings or enterprises in certain special category States

Section – 80-ID : Deduction in respect of profits and gains from business of hotels and convention centres in specified area

Section – 80-IE : Special provisions in respect of certain undertakings in North-Eastern States

Section – 80J : Omitted by the Finance (No. 2) Act, 1996, w.r.e.f.1-4-1989.

Section – 80JJ : Omitted by the Finance Act, 1997, w.e.f. 1-4-1998.

Section – 80JJA : Deduction in respect of profits and gains from business of collecting and processing of bio-degradable waste

Section – 80JJAA : Deduction in respect of employment of new employees

Section – 80K : Omitted by the Finance Act, 1986, w.e.f. 1-4-1987. Original section was inserted, in place of section 85 which was deleted, by the Finance (No. 2) Act, 1967, w.e.f. 1-4-1968.

Section – 80L : Omitted by the Finance Act, 2005, w.e.f.1-4-2006.

Section – 80LA : Deductions in respect of certain incomes of Offshore Banking Units and International Financial Services Centre

Section – 80M :  Omitted by the Finance Act, 2003, w.e.f. 1-4-2004.

Section – 80MM : Omitted by the Finance Act, 1983, w.e.f. 1-4-1984. Original section was inserted by the Finance Act, 1969, w.e.f. 1-4-1970

Section – 80N :  Omitted by the Finance Act, 1985, w.e.f. 1-4-1986.

Section – 80-O : Deduction in respect of royalties, etc., from certain foreign enterprises

Section – 80P : Deduction in respect of income of co-operative societies

Section – 80Q : Deduction in respect of profits and gains from the business of publication of books

Section – 80QQ : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989. Original section was inserted by the Taxation Laws (Amendment) Act, 1970, w.e.f. 1-4-1971.

Section – 80QQA : Deduction in respect of professional income of authors of text books in Indian languages

Section – 80QQB : Deduction in respect of royalty income, etc., of authors of certain books other than text-books

Section – 80R : Deduction in respect of remuneration from certain foreign sources in the case of professors, teachers, etc

Section – 80RR : Deduction in respect of professional income from foreign sources in certain cases

Section – 80RRA : Deduction in respect of remuneration received for services rendered outside India

Section – 80RRB : Deduction in respect of royalty on patents

Section – 80S : Omitted by the Finance Act, 1986, w.e.f. 1-4-1987.

Section – 80T : Omitted by the Finance Act, 1987, w.e.f. 1-4-1988. 

Section – 80TT : Omitted by the Finance Act, 1986, w.e.f. 1-4-1987. 

CA. Deductions in respect of other incomes

Section – 80TTA : Deduction in respect of interest on deposits in savings account

Section – 80U : Deduction in case of a person with disability

Section – 80V : Omitted by the Finance Act, 1994, w.e.f. 1-4-1995.

Section – 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

Section – 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

Section – 81 to 85C : Omitted by the Finance (No. 2) Act, 1967, w.e.f. 1-4-1968

Section – 86 : Share of member of an association of persons or body of individuals in the income of the association or body

Section – 86A : Omitted by the Finance Act, 1988, w.e.f. 1-4-1989. Original section was inserted by the Finance Act, 1965, w.e.f. 1-4-1965.

CHAPTER VIII

REBATES AND RELIEFS

 A. Rebate of income-tax

Section – 87 : Rebate to be allowed in computing income-tax

Section – 87A : Rebate of income-tax in case of certain individuals

Section – 88 : Rebate on life insurance premia, contribution to provident fund, etc

Section – 88A : Omitted by the Finance (No. 2) Act, 1996, w.r.e.f. 1-4-1994.

Section – 88B : Omitted by the Finance Act, 2005, w.e.f.1-4-2006

Section – 88C : Omitted by the Finance Act, 2005, w.e.f.1-4-2006.

Section – 88D : Omitted by the Finance Act, 2005, w.e.f.1-4-2006.

Section – 88E : Rebate in respect of securities transaction tax

B. Relief for income-tax

Section – 89 : Relief when salary, etc., is paid in arrears or in advance

Section – 89A : Omitted by the Finance Act, 1983, w.e.f. 1-4-1983

CHAPTER IX

DOUBLE TAXATION RELIEF

Section – 90 : Agreement with foreign countries or specified territories

Section – 90A : Adoption by Central Government of agreement between specified associations for double taxation relief

Section – 91 : Countries with which no agreement exists

CHAPTER X

SPECIAL PROVISIONS RELATING TO AVOIDANCE OF TAX

Section – 92 : Computation of income from international transaction having regard to arm’s length price

Section – 92A : Meaning of associated enterprise

Section – 92B : Meaning of international transaction

Section – 92BA : Meaning of specified domestic transaction

Section – 92C : Computation of arm’s length price

Section – 92CA : Reference to Transfer Pricing Officer

Section – 92CB : Power of Board to make safe harbour rules

Section – 92CC : Advance pricing agreement

Section – 92CD : Effect to advance pricing agreement

Section – 92CE :Secondary adjustment in certain cases

Section – 92D : Maintenance and keeping of information and document by persons entering into an international transaction 55[or specified domestic transaction.

Section – 92E : Report from an accountant to be furnished by persons entering into international transaction 61a[or specified domestic transaction.

Section – 92F Definitions of certain terms relevant to computation of arm’s length price, etc

Section – 93 Avoidance of income-tax by transactions resulting in transfer of income to non-residents

Section – 94 : Avoidance of tax by certain transactions in securities

Section – 94A : Special measures in respect of transactions with persons located in notified jurisdictional area

Section – 94B : Limitation on interest deduction in certain cases

CHAPTER X-A

GENERAL ANTI-AVDANCE RULE

Section – 95 : Applicability of General Anti-Avoidance Rule

Section – 96 : Impermissible avoidance arrangement

Section – 97 : Arrangement to lack commercial substance

Section – 98 : Consequences of impermissible avoidance arrangement

Section – 99 : Treatment of connected person and accommodating party

Section – 100 : Application of this Chapter

Section – 101 : Framing of guidelines

Section – 102 : Definitions

CHAPTER X-A

GENERAL ANTI-AVOIDANCE RULE

95-102.

Following Chapter X-A, consisting of sections 95 to 102, shall be inserted by the Finance Act, 2013, w.e.f. 1-4-2016 :

CHAPTER XI

ADDITIONAL INCOME-TAX ON UNDISTRIBUTED PROFITS

Chapter XI omitted by the Finance Act, 1987, w.e.f. 1-4-1988. While sections 95 to 103 were omitted by the Finance Act, 1965, w.e.f. 1-4-1965, sections 104 to 109 were omitted by the Finance Act, 1987, w.e.f. 1-4-1988.

Section – 104 : Omitted by the Finance Act, 1987, w.e.f. 1-4-1988.

Section – 105 : Omitted by the Finance Act, 1987, w.e.f. 1-4-1988.

Section – 106 : Omitted by the Finance Act, 1987, w.e.f. 1-4-1988.

Section – 107 : Omitted by the Finance Act, 1987, w.e.f. 1-4-1988.

Section – 107A : Omitted by the Finance Act, 1987, w.e.f. 1-4-1988.

Section – 108 : Omitted by the Finance Act, 1987, w.e.f. 1-4-1988.

Section – 109 : Omitted by the Finance Act, 1987, w.e.f. 1-4-1988.

CHAPTER XII

DETERMINATION OF TAX IN CERTAIN SPECIAL CASES

Section – 110 : Determination of tax where total income includes income on which no tax is payable

Section – 111 : Tax on accumulated balance of recognised provident fund

Section – 111A : Tax on short-term capital gains in certain cases

Section – 112 : Tax on long-term capital gains

Section – 112A : Omitted by the Finance Act, 1988, w.e.f. 1-4-1989.

Section – 113 : Tax in the case of block assessment of search cases

Section – 114 : Omitted by the Finance (No. 2) Act, 1967, w.e.f. 1-4-1968 and reintroduced with material modifications in section 80T. Section 114 was substituted first by the Finance (No. 2) Act, 1962, w.e.f. 1-4-1962 and later on amended by the Finance Act, 1964, w.e.f. 1-4-1964, the Finance Act, 1965, w.e.f. 1-4-1965, the Finance (No. 2) Act, 1965, w.e.f. 11-9-1965 and the Finance Act, 1966, w.e.f. 1-4-1966.

Section – 115 : Omitted by the Finance Act, 1987, w.e.f. 1-4-1988

Section – 115A : Tax on dividends, royalty and technical service fees in the case of foreign companies

Section – 115AB : Tax on income from units purchased in foreign currency or capital gains arising from their transfer

Section – 115AC : Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer.

Section – 115ACA : Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer

Section – 115AD : Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer

Section – 115B : Tax on profits and gains of life insurance business

Section – 115BA : Tax on income of certain domestic companies

Section – 115BB : Tax on winnings from lotteries, crossword puzzles, races including horse races, card games and other games of any sort or gambling or betting of any form or nature whatsoever

Section – 115BBA : Tax on non-resident sportsmen or sports associations

Section – 115BBB : Tax on income from units of an open-ended equity oriented fund of the Unit Trust of India or of Mutual Funds

Section – 115BBC : Anonymous donations to be taxed in certain cases

Section – 115BBD : Tax on certain dividends received from foreign companies

Section – 115BBDA : Tax on certain dividends received from domestic companies

Section – 115BBE : Tax on income referred to in section 68 or section 69 or section 69A or section 69B or section 69C or section 69D

Section – 115BBF : Tax on income from patent

Section – 115BBG : Tax on income from transfer of carbon credits

Chapter XII-A

Special provisions relating to certain incomes of non-residents

Section – 115C : Definitions

Section – 115D : Special provision for computation of total income of non-residents

Section – 115E : Tax on investment income20 and long-term capital gains.

Section – 115F : Capital gains on transfer of foreign exchange assets not to be charged in certain cases

Section – 115G : Return of income not to be filed in certain cases

Section – 115H : Benefit under Chapter to be available in certain cases even after the assessee becomes resident

Section – 115-I : Chapter not to apply if the assessee so chooses

CHAPTER XII-B

SPECIAL PROVISIONS RELATING TO CERTAIN COMPANIES

Section – 115J : Special provisions relating to certain companies.

Section – 115JA : Deemed income relating to certain companies

Section – 115JAA : Tax credit in respect of tax paid on deemed income relating to certain companies

Section – 115JB : Special provision for payment of tax by certain companies

CHAPTER XII-BA
SPECIAL PROVISIONS RELATING TO CERTAIN PERSONS OTHER THAN A COMPANY

Section – 115JC : Special provisions for payment of tax by certain persons other than a company

Section – 115JD : Tax credit for alternate minimum tax

Section – 115JE : Application of other provisions of this Act

Section – 115JEE : Application of this Chapter to certain persons

Section – 115JF : Interpretation in this Chapter

CHAPTER XII-BB

SPECIAL PROVISIONS RELATING TO CONVERSION OF INDIAN BRANCH OF A FOREIGN BANK INTO A SUBSIDIARY COMPANY

Section – 115JG : Conversion of an Indian branch of foreign company into subsidiary Indian company

CHAPTER XII-BC

SPECIAL PROVISIONS RELATING TO FOREIGN COMPANY SAID TO BE RESIDENT IN INDIA

Section – 115JH Foreign company said to be resident in India

CHAPTER XII-C

SPECIAL PROVISIONS RELATING TO RETAIL TRADE, ETC.

Chapter XII-C, consisting of sections 115K to 115N, omitted by the Finance Act, 1997, w.e.f. 1-4-1998. Earlier Chapter XII-C was inserted by the Finance Act, 1992, w.e.f. 1-4-1993.

Section – 115K : Omitted by the Finance Act, 1997, w.e.f. 1-4-1998.

Section – 115L : Omitted by the Finance Act, 1997, w.e.f. 1-4-1998.

Section – 115M : Omitted by the Finance Act, 1997, w.e.f. 1-4-1998.

Section – 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

Section – 115-O : Tax on distributed profits of domestic companies

Section – 115P : Interest payable for non-payment of tax by domestic companies

Section – 115Q : When company is deemed to be in default

CHAPTER XII-DA

SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES

Section – 115QA : Tax on distributed income to shareholders

Section – 115QB : Interest payable for non-payment of tax by company

Section – 115QC : When company is deemed to be assessee in default

CHAPTER XII-E

SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME

Section – 115R : Tax on distributed income to unit holders

Section – 115S : Interest payable for non-payment of tax

Section – 115T : Unit Trust of India or Mutual Fund to be an assessee in default

CHAPTER XII-EA

CHAPTER XII-FB

 SPECIAL PROVISIONS RELATING TO TAX ON INCOME OF INVESTMENT FUNDS AND INCOME RECEIVED FROM SUCH FUND

Section – 115UB : Tax on income of investment fund and its unit holders

CHAPTER XII-G

SPECIAL PROVISIONS RELATING TO INCOME OF SHIPPING COMPANIES

A. Meaning of certain expressions

Section – 115V : Definitions

B. Computation of tonnage income from business of operating qualifying ships

 

Section – 115VA : Computation of profits and gains from the business of operating qualifying ships

Section – 115VB : Operating ships

Section – 115VC : Qualifying company

Section – 115VD : Qualifying ship

Section – 115VE : Manner of computation of income under tonnage tax scheme

Section – 115VF : Tonnage income

Section – 115VG : Computation of tonnage income

Section – 115VH : Calculation in case of joint operation, etc.

Section – 115V-I : Relevant shipping income

Section – 115VJ : Treatment of common costs

Section – 115VK : Depreciation

Section – 115VL : General exclusion of deduction and set off, etc.

Section – 115VM : Exclusion of loss

Section – 115VN : Chargeable gains from transfer of tonnage tax assets

Section – 115V-O : Exclusion from provisions of section 115JB

C. Procedure for option of tonnage tax scheme 

Section – 115VP : Method and time of opting for tonnage tax scheme

Section – 115VQ : Period for which tonnage tax option to remain in force

Section – 115VR : Renewal of tonnage tax scheme

Section – 115VS : Prohibition to opt for tonnage tax scheme in certain cases

D. Conditions for applicability of tonnage tax scheme 

Section – 115VT : Transfer of profits to Tonnage Tax Reserve Account

Section – 115VU : Minimum training requirement for tonnage tax company

Section – 115VV : Limit for charter in of tonnage

Section – 115VW : Maintenance and audit of accounts

Section – 115VX : Determination of tonnage

E. Amalgamation and demerger of shipping companies

Section – 115VY : Amalgamation

Section – 115VZ : Demerger

F. Miscellaneous

Section – 115VZA : Effect of temporarily ceasing to operate qualifying ships

G. Provisions of this Chapter not to apply in certain cases 

Section – 115VZB : Avoidance of tax

Section – 115VZC : Exclusion from tonnage tax scheme

CHAPTER XII-H

INCOME-TAX ON FRINGE BENEFITS

A. Meaning of certain expressions

Section – 115W : Definitions

B. Basis of charge 

Section – 115WA : Charge of fringe benefit tax

Section – 115WB : Fringe benefits

Section – 115WC : Value of fringe benefits

C. Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof

Section – 115WD : Return of fringe benefits

Section – 115WE : Assessment

Section – 115WF : Best judgment assessment

Section – 115WG : Fringe benefits escaping assessment

Section – 115WH : Issue of notice where fringe benefits have escaped assessment

Section – 115WI : Payment of fringe benefit tax

Section – 115WJ : Advance tax in respect of fringe benefits

Section – 115WK : Interest for default in furnishing return of fringe benefits

Section – 115WKA : Recovery of fringe benefit tax by the employer from the employee

Section – 115WKB : Deemed payment of tax by employee

Section – 115WL : Application of other provisions of this Act

Section – 115WM : Chapter XII-H not to apply after a certain date

CHAPTER XIII

INCOME-TAX AUTHORITIES

A. Appointment and control

Section – 116 : Income-tax authorities

Section – 117 : Appointment of income-tax authorities

Section – 118 : Control of income-tax authorities

Section – 119 : Instructions to subordinate authorities

Section – 120 : Jurisdiction of income-tax authorities

Section – 121 : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988.

Section – 121A : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. Original section was inserted by the Finance (No. 2) Act, 1977, w.e.f. 10-7-1978.

Section – 122 : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988.

Section – 123 : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988.

Section – 124 : Jurisdiction of Assessing Officers

Section – 125 : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988.

Section – 125A : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. Original section was inserted by the Taxation Laws (Amendment) Act, 1975, w.e.f. 1-10-1975.

Section – 126 : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988.

Section – 127 : Power to transfer cases

Section – 128 : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988.

Section – 129 : Change of incumbent of an office

Section – 130 : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988.

Section – 130A : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. Original section was inserted by the Finance (No. 2) Act, 1967, w.e.f. 1-4-1967.

C. Powers 

Section – 131 : Power regarding discovery, production of evidence, etc.

Section – 132 : Search and seizure

Section – 132A : Powers to requisition books of account, etc.

Section – 132B : Application of seized or requisitioned assets

Section – 133 : Power to call for information

Section – 133A : Power of survey

Section – 133B : Power to collect certain information

Section – 133C : Power to call for information by prescribed income-tax authority

Section – 134 : Power to inspect registers of companies

Section – 135 : Power of Principal Director General or Director General or Principal Director or Director,Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner and Joint Commissioner

Section – 136 : Proceedings before income-tax authorities to be judicial proceedings

D. Disclosure of information

Section – 137 : Omitted by the Finance Act, 1964, w.e.f. 1-4-1964.

Section – 138 : Disclosure of information respecting assessees

CHAPTER XIV

PROCEDURE FOR ASSESSMENT

Section – 139 : Return of income

Section – 139A : Permanent account number

Section – 139AA : Quoting of Aadhaar number

Section – 139B : Scheme for submission of returns through Tax Return Preparers

Section – 139C : Power of Board to dispense with furnishing documents, etc., with return

Section – 139D : Filing of return in electronic form

Section – 140 : Return by whom to be

Section – 140A : Self-assessment

Section – 141 : Omitted by the Taxation Laws (Amendment) Act, 1970, w.e.f. 1-4-1971.

Section – 141A :  Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989. Section 141A was inserted by the Finance Act, 1968, w.e.f. 1-4-1968. Original section was inserted by the Finance Act, 1963, w.e.f. 1-4-1963 and omitted by the Finance Act, 1964, w.e.f. 1-4-1964.

Section – 142 : Inquiry before assessment

Section – 142A : Estimation of value of assets by Valuation Officer

Section – 143 : Assessment

Section – 144 : Best judgment assessment

Section – 144A : Power of Joint Commissioner to issue directions in certain cases

Section – 144B : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989. Original section 144B was inserted by the Taxation Laws (Amendment) Act, 1975, w.e.f. 1-4-1976.

Section – 144BA : Reference to Principal Commissioner or Commissioner in certain cases

Section – 144C : Reference to dispute resolution panel

Section – 145 : Method of accounting

Section – 145A : Method of accounting in certain cases

Section – 146 : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.

Section – 147 : Income escaping assessment

Section – 148 : Issue of notice where income has escaped assessment

Section – 149 : Time limit for notice

Section – 150 : Provision for cases where assessment is in pursuance of an order on appeal, etc.

Section – 151 : Sanction for issue of notice

Section – 152 : Other provisions

Section – 153 : Time limit for completion of assessment, reassessment and recomputation

Section – 153A : Assessment in case of search or requisition

Section – 153B : Time limit for completion of assessment under section 153A

Section – 153C : Assessment of income of any other person

Section – 153D : Prior approval necessary for assessment in cases of search or requisition

Section – 154 : Rectification of mistake

Section – 155 : Other amendments

Section – 156 : Notice of demand

Section – 157 : Intimation of loss

Section – 158 : Intimation of assessment of firm

CHAPTER XIV-A

SPECIAL PROVISION FOR AVOIDING REPETITIVE APPEALS

Section – 158A : Procedure when assessee claims identical question of law is pending before High Court or Supreme Court

Section – 158AA : Procedure when in an appeal by revenue an identical question of law is pending before Supreme Court

CHAPTER XIV-B

SPECIAL PROCEDURE FOR ASSESSMENT OF SEARCH CASES

Section – 158B : Definitions

Section – 158BA : Assessment of undisclosed income as a result of search

Section – 158BB : Computation of undisclosed income of the block period

Section – 158BC : Procedure for block assessment

Section – 158BD : Undisclosed income of any other person

Section – 158BE : Time limit for completion of block assessment

Section – 158BF : Certain interests and penalties not to be levied or imposed

Section – 158BFA :  Levy of interest and penalty in certain cases

Section – 158BG : Authority competent to make the block assessment

Section – 158BH : Application of other provisions of this Act

Section – 158BI : Chapter not to apply after certain date

CHAPTER XV

LIABILITY IN SPECIAL CASES

A. Legal representatives

Section – 159 : Legal representatives

B. Representative assessees – General provisions 

Section – 160 : Representative assessee

Section – 161 : Liability of representative assessee

Section – 162 : Right of representative assessee to recover tax paid

C. Representative assessees—Special cases

Section – 163 : Who may be regarded as agent

Section – 164 : Charge of tax where share of beneficiaries unknown.

Section – 164A : Charge of tax in case of oral trust

Section – 165 : Case where part of trust income is chargeable

D. Representative assessees – Miscellaneous provisions

Section – 166 : Direct assessment or recovery not barred

Section – 167 : Remedies against property in cases of representative assessees

DD. Firms, association of persons and body of individuals

Section – 167A : Charge of tax in the case of a firm

Section – 167B : Charge of tax where shares of members in association of persons or body of individuals unknown, etc.

Section – 167C : Liability of partners of limited liability partnership in liquidation

E. Executors

Section – 168 : Executors

Section – 169 : Right of executor to recover tax paid

F. Succession to business or profession

Section – 170 : Succession to business otherwise than on death

G. Partition

Section – 171 : Assessment after partition of a Hindu undivided family

H. Profits of non-residents from occasional shipping business

Section – 172 : Shipping business of non-residents

I. Recovery of tax in respect of non-residents

Section – 173 : Recovery of tax in respect of non-resident from his assets

J. Persons leaving India

Section – 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

Section – 174A : Assessment of 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

Section – 175 : Assessment of persons likely to transfer property to avoid tax

L. Discontinuance of business, or dissolution

Section – 176 : Discontinued business

Section – 177 : Association dissolved or business discontinued

Section – 178 : Company in liquidation

M. Private companies

Section – 179 : Liability of directors of private company in liquidation

N. Special provisions for certain kinds of income

Section – 180 : Royalties or copyright fees for literary or artistic work

Section – 180A : Consideration for know-how

Section – 181 : Omitted by the Finance Act, 1988, w.e.f. 1-4-1989

CHAPTER XVI

SPECIAL PROVISIONS APPLICABLE TO FIRMS

A. Assessment of firms

Section – 182 : Omitted by the Finance Act, 1992, w.e.f. 1-4-1993.

Section – 183 : Omitted by the Finance Act, 1992, w.e.f. 1-4-1993.

Section – 184 : Assessment as a firm

Section – 185 : Assessment when section 184 not complied with

 C. Changes in constitution, succession and dissolution

Section – 187 : Change in constitution of a firm

Section – 188 : Succession of one firm by another firm

Section – 188A : Joint and several liability of partners for tax payable by firm

Section – 189 : Firm dissolved or business discontinued

Section – 189A : Provisions applicable to past assessments of firms

CHAPTER XVII

COLLECTION AND RECOVERY OF TAX

A. General

Section – 190 : Deduction at source and advance payment

Section – 191 : Direct payment

Section – 192 : Salary

Section – 192A : Payment of accumulated balance due to an employee

Section – 193 : Interest on securities

Section – 194 : Dividends

Section – 194A : Interest other than “Interest on securities”

Section – 194B : Winnings from lottery or crossword puzzle

Section – 194BB : Winnings from horse race

Section – 194C : Payments to contractors

Section – 194D : Insurance commission

Section – 194DA : Payment in respect of life insurance policy

Section – 194E : Payments to non-resident sportsmen or sports associations

Section – 194EE : Payments in respect of deposits under National Savings Scheme, etc.

Section – 194F : Payments on account of repurchase of units by Mutual Fund or Unit Trust of India

Section – 194G : Commission, etc., on the sale of lottery tickets

Section – 194H : Commission or brokerage

Section – 194-I : Rent

Section – 194IA : Payment on transfer of certain immovable property other than agricultural land

Section – 194IB : Payment of rent by certain individuals or Hindu undivided family

Section – 194IC : Payment under specified agreement

Section – 194J : Fees for professional or technical services

Section – 194K :  Omitted by the Finance Act, 2016, w.e.f. 1-6-2016.

Section – 194L : Omitted by the Finance Act, 2016, w.e.f. 1-6-2016.

Section – 194LA : Payment of compensation on acquisition of certain immovable property

Section – 194LB : Income by way of interest from infrastructure debt fund

Section – 194LBA : Certain income from units of a business trust

Section – 194LBB : Income in respect of units of investment fund

Section – 194LBC : Income in respect of investment in securitization trust

Section – 194LC : Income by way of interest from Indian company

Section – 194LD : Income by way of interest on certain bonds and Government securities

Section – 195 : Other sums

Section – 195A : Income payable “net of tax”

Section – 196 : Interest or dividend or other sums payable to Government, Reserve Bank or certain corporations

Section – 196A : Income in respect of units of non-residents

Section – 196B : Income from units

Section – 196C Income from foreign currency bonds or shares63 of Indian company.

Section – 196D : Income of Foreign Institutional Investors from securities

Section – 197 : Certificate for deduction at lower rate

Section – 197A : No deduction to be made in certain cases

Section – 198 : Tax deducted is income received

Section – 199 : Credit for tax deducted

Section – 200 : Duty of person deducting tax

Section – 200A : Processing of statements of tax deducted at source

Section – 201 : Consequences of failure to deduct or pay

Section – 202 : Deduction only one mode of recovery

Section – 203 : Certificate for tax deducted

Section – 203A : Tax deduction and collection account number

Section – 203AA : Furnishing of statement of tax deducted

Section – 204 : Meaning of “person responsible for paying”

Section – 205 : Bar against direct demand on assessee

Section – 206 : Persons deducting tax to furnish prescribed returns

Section – 206A : Furnishing of quarterly return in respect of payment of interest to residents without deduction of tax

Section – 206AA : Requirement to furnish Permanent Account Number

Section – 206B : Omitted by the Finance (No. 2) Act, 1996, w.e.f.1-10-1996.

BB. Collection at source

Section – 206C : Profits and gains from the business of trading in alcoholic liquor, forest produce, scrap, etc

Section – 206CA : Tax collection account number

Section – 206CB : Processing of statements of tax collected at source

Section – 206CC : Requirement to furnish Permanent Account number by collectee

C. Advance payment of tax

Section – 207 : Liability for payment of advance tax

Section – 208 : Conditions of liability to pay advance tax

Section – 209 : Computation of advance tax

Section – 209A : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. Original section was inserted by the Finance Act, 1978, w.e.f. 1-6-1978.

Section – 210 : Payment of advance tax by the assessee of his own accord or in pursuance of order of Assessing Officer

Section – 211 : Instalments of advance tax and due dates

Section – 212 : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988.

Section – 213 : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988.

Section – 214 : Interest payable by Government

Section – 215 : Interest payable by assessee

Section – 216 : Interest payable by assessee in case of under-estimate, etc

Section – 217 : Interest payable by assessee when no estimate made

Section – 218 : When assessee deemed to be in default

Section – 219 : Credit for advance tax

D. Collection and recovery

Section – 220 : When tax payable and when assessee deemed in default

Section – 221 : Penalty payable when tax in default

Section – 222 : Certificate to Tax Recovery Officer

Section – 223 : Tax Recovery Officer by whom recovery is to be effected

Section – 224 : Validity of certificate and cancellation or amendment thereof

Section – 225 : Stay of proceedings in pursuance of certificate and amendment or cancellation thereof

Section – 226 : Other modes of recovery

Section – 227 : Recovery through State Government

Section – 228 : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.

Section – 228A : Recovery of tax in pursuance of agreements with foreign countries

Section – 229 : Recovery of penalties, fine, interest and other sums

Section – 230 : Tax clearance certificate

Section – 230A : Omitted by the Finance Act, 2001, w.e.f. 1-6-2001.

Section – 231 : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.

Section – 232 : Recovery by suit or under other law not affected

E. Tax payable under provisional assessment

Section – 233 : Omitted by the Taxation Laws (Amendment) Act, 1970, w.e.f. 1-4-1971.

Section – 234 : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.

F. Interest chargeable in certain cases

Section – 234A : Interest for defaults in furnishing return of income

Section – 234B : Interest for defaults in payment of advance tax

Section – 234C : Interest for deferment of advance tax

Section – 234D : Interest on excess refund

G. Levy of fee in certain cases

Section – 234E : Fee for default in furnishing statements

Section – 234F : Fee for default in furnishing return of income

CHAPTER XVIII

RELIEF RESPECTING TAX ON DIVIDENDS IN CERTAIN CASES

Section – 235 : Omitted by the Finance (No. 2) Act, 1971, w.e.f. 1-4-1972.

Section – 236 : Relief to company in respect of dividend paid out of past taxed profits

Section – 236A : Relief to certain charitable institutions or funds in respect of certain dividends

CHAPTER XIX

REFUNDS

Section – 237 : Refunds

Section – 238 : Person entitled to claim refund in certain special cases

Section – 239 : Form of claim for refund and limitation

Section – 240 : Refund on appeal, etc

Section – 241 : Omitted by the Finance Act, 2001, w.e.f. 1-6-2001.

Section – 241A : Withholding of refund in certain cases

Section – 242 : Correctness of assessment not to be questioned

Section – 243 : Interest on delayed refunds

Section – 244 : Interest on refund where no claim is needed

Section – 244A : Interest on refunds

Section – 245 : Set off of refunds against tax remaining payable

CHAPTER XIX-A

SETTLEMENT OF CASES

Section – 245A : Definitions

Section – 245B : Income-tax Settlement Commission

Section – 245BA : Jurisdiction and powers of Settlement Commission

Section – 245BB : Vice-Chairman to act as Chairman or to discharge his functions in certain circumstances

Section – 245BC : Power of Chairman to transfer cases from one Bench to another

Section – 245BD : Decision to be by majority

Section – 245C : Application for settlement of cases

Section – 245D : Procedure on receipt of an application under section 245C

Section – 245DD : Power of Settlement Commission to order provisional attachment to protect revenue

Section – 245E : Power of Settlement Commission to reopen completed proceedings

Section – 245F : Powers and procedure of Settlement Commission

Section – 245G : Inspection, etc., of reports

Section – 245H : Power of Settlement Commission to grant immunity from prosecution and penalty

Section – 245HA : Abatement of proceeding before Settlement Commission

Section – 245HAA : Credit for tax paid in case of abatement of proceedings

Section – 245I : Order of settlement to be conclusive

Section – 245J : Recovery of sums due under order of settlement

Section – 245K : Bar on subsequent application for settlement

Section – 245L : Proceedings before Settlement Commission to be judicial proceedings

Section – 245M : Omitted by the Finance Act, 1987, w.e.f. 1-6-1987.

CHAPTER XIX-B

ADVANCE RULINGS

Section – 245N : Definitions

Section – 245-O : Authority for Advance Rulings

Section – 245P : Vacancies, etc., not to invalidate proceedings

Section – 245Q : Application for advance ruling

Section – 245R : Procedure on receipt of application

Section – 245RR : Appellate authority not to proceed in certain cases

Section – 245S : Applicability of advance ruling

Section – 245T : Advance ruling to be void in certain circumstances

Section – 245U : Powers of the Authority

Section – 245V Procedure of Authority

CHAPTER XX

APPEALS AND REVISION

A. Appeals  to the Deputy Commissioner (Appeals) and Commissioner (Appeals)

Section – 246 : Appealable orders

Section – 246A : Appealable orders before Commissioner (Appeals)

Section – 247 : Omitted by the Finance Act, 1992, w.e.f. 1-4-1993.

Section – 248 : Appeal by a person denying liability to deduct tax in certain cases

Section – 249 : Form of appeal and limitation

Section – 250 : Procedure in appeal

Section – 251 : Powers of the Commissioner (Appeals)

B. Appeals to the Appellate Tribunal

Section – 252 : Appellate Tribunal

Section – 252A : Qualifications, terms and conditions of service of President, Vice-President and Member.

Section – 253 : Appeals to the Appellate Tribunal

Section – 254 : Orders of Appellate Tribunal

Section – 255 : Procedure of Appellate Tribunal

Section – 256 : Statement of case to the High Court

Section – 257 : Statement of case to Supreme Court in certain cases

Section – 258 : Power of High Court or Supreme Court to require statement to be amended

Section – 259 : Case before High Court to be heard by not less than two judges

Section – 260 : Decision of High Court or Supreme Court on the case stated

CC. Appeals to High Court

Section – 260A : Appeal to High Court

Section – 260B : Case before High Court to be heard by not less than two Judges

 D. Appeals to the Supreme Court

Section – 261 : Appeal to Supreme Court

Section – 262 : Hearing before Supreme Court.

E. Revision by the Principal Commissioner or Commissioner

Section – 263 : Revision of orders prejudicial to revenue

Section – 264 : Revision of other orders

F. General

Section – 265 : Tax to be paid notwithstanding reference, etc

Section – 266 : Execution for costs awarded by Supreme Court

Section – 267 : Amendment of assessment on appeal

Section – 268 : Exclusion of time taken for copy

Section – 268A : Filing of appeal or application for reference by income-tax authority

Section – 269 : Definition of “High Court”

CHAPTER XX-A

ACQUISITION OF IMMOVABLE PROPERTIES IN CERTAIN CASES OF TRANSFER TO COUNTERACT EVASION OF TAX

Section – 269A : Definitions

Section – 269AB : Registration of certain transactions

Section – 269B : Competent authority

Section – 269C : Immovable property in respect of which proceedings for acquisition may be taken

Section – 269D : Preliminary notice

Section – 269E : Objections

Section – 269F : Hearing of objections

Section – 269G : Appeal against order for acquisition

Section – 269H : Appeal to High Court

Section – 269I : Vesting of property in Central Government

Section – 269J : Compensation

Section – 269K : Payment or deposit of compensation

Section – 269L : Assistance by Valuation Officers

Section – 269M : Powers of competent authority

Section – 269N : Rectification of mistakes

Section – 269O : Appearance by authorised representative or registered valuer

Section – 269P : Statement to be furnished in respect of transfers of immovable property

Section – 269Q : Chapter not to apply to transfers to relatives

Section – 269R Properties liable for acquisition under this Chapter not to be acquired under other laws

Section – 269RR Chapter not to apply where transfer of immovable property made after a certain date

Section – 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

Section – 269SS : Mode of taking or accepting certain loans, deposits and specified sum.

Section – 269ST : Mode of undertaking transactions

Section – 269T : Mode of repayment of certain loans or deposits

Section – 269TT : Mode of repayment of Special Bearer Bonds, 1991

CHAPTER XX-C

PURCHASE BY CENTRAL GOVERNMENT OF IMMOVABLE PROPERTIES IN CERTAIN CASES OF TRANSFER

Section – 269U : Commencement of Chapter

Section – 269UA : Definitions

Section – 269UB : Appropriate authority

Section – 269UC : Restrictions on transfer of immovable property

Section – 269UD : Order by appropriate authority for purchase by Central Government of immovable property

Section – 269UE : Vesting of property in Central Government

Section – 269UF : Consideration for purchase of immovable property by Central Government

Section – 269UG : Payment or deposit of consideration

Section – 269UH : Re-vesting of property in the transferor on failure of payment or deposit of consideration

Section – 269UI : Powers of the appropriate authority

Section – 269UJ : Rectification of mistakes

Section – 269UK : Restrictions on revocation or alteration of certain agreements for the transfer of immovable property or on transfer of certain immovable property

Section – 269UL : Restrictions on registration, etc., of documents in respect of transfer of immovable property

Section – 269UM : Immunity to transferor against claims of transferee for transfer

Section – 269UN : Order of appropriate authority to be final and conclusive

Section – 269UO : Chapter not to apply to certain transfers

Section – 269UP : Chapter not to apply where transfer of immovable property effected after certain date

CHAPTER XXI

PENALTIES IMPOSABLE

Section – 270 : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.

Section – 270A : Penalty for under-reporting and misreporting of income

Section – 270AA : Immunity from imposition of penalty, etc.

Section – 271 : Failure to furnish returns, comply with notices, concealment of income, etc.

Section – 271A : Failure to keep, maintain or retain books of account, documents, etc.

Section – 271AA : Penalty for failure to keep and maintain information and document, etc., in respect of certain transactions

Section – 271AAA : Penalty where search has been initiated

Section – 271AAB : Penalty where search has been initiated

Section – 271AAC : Penalty in respect of certain income

Section – 271B : Failure to get accounts audited

Section – 271BA : Penalty for failure to furnish report under section 92E

Section – 271BB : Failure to subscribe to the eligible issue of capital

Section – 271C : Penalty for failure to deduct tax at source

Section – 271CA : Penalty for failure to collect tax at source

Section – 271D : Penalty for failure to comply with the provisions of section 269SS

Section – 271DA : Penalty for failure to comply with provisions of section 269ST

Section – 271E : Penalty for failure to comply with the provisions of section 269T

Section – 271F : Penalty for failure to furnish return of income

Section – 271FA Penalty for failure to furnish statement of financial transaction or reportable account.

Section – 271FAA : Penalty for furnishing inaccurate statement of financial transaction or reportable account

Section – 271FAB : Penalty for failure to furnish statement or information or document by an eligible investment fund

Section – 271FB : Penalty for failure to furnish return of fringe benefits

Section – 271G : Penalty for failure to furnish information or document under section 92D

Section – 271GA : Penalty for failure to furnish information or document under section 285A

Section – 271GB : Penalty for failure to furnish report or for furnishing inaccurate report under section 286

Section – 271H : Penalty for failure to furnish statements, etc.

Section – 271-I : Penalty for failure to furnish information or furnishing inaccurate information under section 195

Section – 271J : Penalty for furnishing incorrect information in reports or certificates

Section – 272 : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.

Section – 272A : Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc.

Section – 272AA : Penalty for failure to comply with the provisions of section 133B

Section – 272B : Penalty for failure to comply with the provisions of section 139A.

Section – 272BB Penalty for failure to comply with the provisions of section 203A

Section – 272BBB : Penalty for failure to comply with the provisions of section 206CA

Section – 273 : False estimate of, or failure to pay, advance tax.

Section – 273A : Power to reduce or waive penalty, etc., in certain cases

Section – 273AA : Power of Principal Commissioner or Commissioner to grant immunity from penalty.

Section – 273B : Penalty not to be imposed in certain cases

Section – 274 : Procedure

Section – 275 : Bar of limitation for imposing penalties

CHAPTER XXII

OFFENCES AND PROSECUTIONS

Section – 275A : Contravention of order made under sub-section (3) of section 132

Section – 275B : Failure to comply with the provisions of clause (iib) of sub-section (1) of section 132

Section – 276 : Removal, concealment, transfer or delivery of property to thwart tax recovery

Section – 276A : Failure to comply with the provisions of sub-sections (1) and (3) of section 178

Section – 276AA : Omitted by the Finance Act, 1986, w.e.f. 1-10-1986. Original section was inserted by the Income-tax (Amendment) Act, 1981, w.e.f. 1-7-1982.

Section – 276AB : Failure to comply with the provisions of sections 269UC, 269UE and 269UL

Section – 276B : Failure to pay tax to the credit of Central Government under Chapter XII-D or XVII-B

Section – 276BB : Failure to pay the tax collected at source

Section – 276C : Wilful attempt to evade tax, etc

Section – 276CC : Failure to furnish returns of income

Section – 276CCC : Failure to furnish return of income in search cases

Section – 276D : Failure to produce accounts and documents

Section – 276DD : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.

Section – 276E : Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f.1-4-1989.

Section – 277 : False statement in verification, etc

Section – 277A : Falsification of books of account or document, etc

Section – 278 : Abetment of false return, etc

Section – 278A : Punishment for second and subsequent offences

Section – 278AA : Punishment not to be imposed in certain cases

Section – 278AB : Power of Principal Commissioner or Commissioner to grant immunity from prosecution.

Section – 278B : Offences by companies

Section – 278C : Offences by Hindu undivided families

Section – 278D : Presumption as to assets, books of account, etc., in certain cases

Section – 278E : Presumption as to culpable mental state

Section – 279 : Prosecution to be at instance of Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner.

Section – 279A : Certain offences to be non-cognizable

Section – 279B : Proof of entries in records or documents

Section – 280 : Disclosure of particulars by public servants

Section – 280A : Special Courts

Section – 280B : Offences triable by Special Court

Section – 280C : Trial of offences as summons case

Section – 280D : Application of Code of Criminal Procedure, 1973 to proceedings before Special Court

CHAPTER XXII-A

ANNUITY DEPOSITS

Chapter XXII-A, consisting of sections 280A, 280B, 280C, 280D, 280E, 280F, 280G, 280H, 280-I, 280J, 280K, 280L, 280M, 280N, 280-O, 280P, 280Q, 280R, 280S, 280T, 280U, 280V, 280W and 280X, omitted by the Finance Act, 1988, w.e.f. 1-4-1988. The Chapter was inserted by the Finance Act, 1964, w.e.f. 1-4-1964 and has not been in operation since 1-4-1969 when the requirement as to annuity deposit was discontinued by the Finance Act, 1968, w.e.f. 1-4-1968 through an amendment made in section 280C.

CHAPTER XXII-B

TAX CREDIT CERTIFICATES

Chapter XXII-B, consisting of sections 280Y, 280Z, 280ZA, 280ZB, 280ZC, 280ZD and 280ZE, omitted by the Finance Act, 1990, w.e.f. 1-4-1990. No tax credit certificate granted under section 280Z or section 280ZC shall be produced before the Assessing Officer after the 31st day of March, 1991 for the purposes of sub-section (6) of section 280Z or, as the case may be, sub-section (4) of section 280ZC. Earlier Chapter XXII-B was inserted by the Finance Act, 1965, w.e.f. 1-4-1965.

Section – 280Y : Omitted by the Finance Act, 1990, w.e.f. 1-4-1990

Section – 280Z : Omitted by the Finance Act, 1990, w.e.f. 1-4-1990

Section – 280ZA : Omitted by the Finance Act, 1990, w.e.f. 1-4-1990

Section – 280ZB : Omitted by the Finance Act, 1990, w.e.f. 1-4-1990

Section – 280ZC: Omitted by the Finance Act, 1990, w.e.f. 1-4-1990

Section – 280ZD : Omitted by the Finance Act, 1990, w.e.f. 1-4-1990

Section – 280ZE : Omitted by the Finance Act, 1990, w.e.f. 1-4-1990

CHAPTER XXIII

MISCELLANEOUS

Section – 281 : Certain transfers to be void

Section – 281A : Effect of failure to furnish information in respect of properties held benami – [Repealed by the Benami Transactions (Prohibition) Act, 1988, w.e.f. 19-5-1988.]

Section – 281B : Provisional attachment to protect revenue in certain cases

Section – 282 : Service of notice generally

Section – 282A : Authentication of notices and other documents

Section – 282B : Omitted by the Finance Act, 2011, w.e.f. 1-4-2011. Prior to its omission, section 282B, as amended by the Finance Act, 2010, w.e.f. 1-10-2010 and by the Finance (No. 2) Act, 2009, w.e.f. 1-10 -2010

Section – 283 Service of notice when family is disrupted or firm, etc., is dissolved

Section – 284 : Service of notice in the case of discontinued business

Section – 285 : Submission of statement by a non-resident having liaison office

Section – 285A : Furnishing of information or documents by an Indian concern in certain cases

Section – 285B : Submission of statements by producers of cinematograph films

Section – 285BA : Obligation to furnish statement of financial transaction or reportable account

Section – 286 : Furnishing of report in respect of international group

Section – 287 : Publication of information respecting assessees in certain cases

Section – 287A : Appearance by registered valuer in certain matters

Section – 288 : Appearance by authorised representative

Section – 288A : Rounding off of income

Section – 288B : Rounding off amount payable and refund due

Section – 289 : Receipt to be given 

Section – 290 : Indemnity

Section – 291 : Power to tender immunity from prosecution

Section – 292 : Cognizance of offences

Section – 292A : Section 360 of the Code of Criminal Procedure, 1973, and the Probation of Offenders Act, 1958, not to apply

Section – 292B : Return of income, etc., not to be invalid on certain grounds

Section – 292BB : Notice deemed to be valid in certain circumstances

Section – 292C : Presumption as to assets, books of account, etc

Section – 292CC : Authorisation and assessment in case of search or requisition

Section – 293 : Bar of suits in civil courts

Section – 293A : Power to make exemption, etc., in relation to participation in the business of prospecting for, extraction, etc., of mineral oils

Section – 293B : Power of Central Government or Board to condone delays in obtaining approval

Section – 293C : Power to withdraw approval

Section – 294 : Act to have effect pending legislative provision for charge of tax

Section – 294A Power to make exemption, etc., in relation to certain Union territories

Section – 295 : Power to make rules

Section – 296 : Rules and certain notifications to be placed before Parliament

Section – 297 : Repeals and savings

Section – 298 : Power to remove difficulties

SCHEDULES

First Schedule : INSURANCE BUSINESS

Second Schedule : PROCEDURE FOR RECOVERY OF TAX

Third Schedule : PROCEDURE FOR DISTRAINT BY ASSESSING OFFICER OR TAX RECOVERY OFFICER

Fourth Schedule : RECOGNISED PROVIDENT FUNDS

Fifth Schedule : LIST OF ARTICLES AND THINGS

Sixth Schedule : Omitted by the Finance Act, 1972, w.e.f. 1-4-1973. Originally, the Schedule was inserted by the Finance Act, 1968, w.e.f. 1-4-1969 and was later amended by the Finance (No. 2) Act, 1971, w.e.f. 1-4-1972.

Seventh Schedule : MINERALS

Eighth Schedule : LIST OF INDUSTRIALLY BACKWARD STATES AND UNION TERRITORIES

Ninth Schedule : Omitted by the Taxation Laws (Amendment & Miscellaneous Provisions) Act, 1986, w.e.f. 1-4-1988

Tenth Schedule : Omitted by the Finance Act, 1999, w.e.f. 1-4-2000

Eleventh Schedule : LIST OF ARTICLES OR THINGS

Twelfth Schedule : PROCESSED MINERALS AND ORES

Thirteenth Schedule : LIST OF ARTICLES OR THINGS

Fourteenth Schedule : LIST OF ARTICLES OR THINGS OR OPERATIONS

APPENDIX

APPENDIX : TEXT OF REMAINING PROVISIONS OF ALLIED ACTS REFERRED TO IN INCOME-TAX ACT