Income-tax Act, 1961
Text as published by the Legislative Department, from the copy archived on 10 January 2020. Amendments made after that date and before the repeal may be missing; check the official Gazette for them.
Repealed by the Income-tax Act, 2025 from 1 April 2026. The text is kept here because the judgments below apply it.
Chapter I: Preliminary
- 1 Short title, extent and commencement
- 2 Definitions 107 judgments
- 3 —Previous year‖ defined 23 judgments
Chapter II: Basis of Charge
- 4 Charge of income-tax 41 judgments
- 5 Scope of total income 19 judgments
- 5A Apportionment of income between spouses governed by Portuguese Civil Code 1 judgment
- 6 Residence in India 10 judgments
- 7 Income deemed to be received 3 judgments
- 8 Dividend income 5 judgments
- 9 Income deemed to accrue or arise in India 15 judgments
- 9A Certain activities not to constitute business connection in India
Chapter III: Incomes Which Do Not Form Part of Total Income
- 10 Incomes not included in total income 121 judgments
- 10A Special provision in respect of newly established undertakings in free trade zone, etc 2 judgments
- 10AA Special provisions in respect of newly established Units in Special Economic Zones
- 10B Special provisions in respect of newly established hundred per cent. export-oriented undertakings
- 10BA Special provisions in respect of export of certain articles or things
- 10BB Meaning of computer 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 26 judgments
- 12 Income of trusts or institutions from contributions 12 judgments
- 12A Conditions for applicability of sections 11 and 12 6 judgments
- 12AA Procedure for registration 7 judgments
- 13 Section 11 not to apply in certain cases 4 judgments
- 13A Special provision relating to incomes of political parties 4 judgments
- 13B Special provisions relating to voluntary contributions received by electoral trust
Chapter IV: Computation of Total Income
Heads of income
- 14 Heads of income 7 judgments
- 14A Expenditure incurred in relation to income not includible in total income 4 judgments
A.—Salaries
- 15 Salaries 3 judgments
- 16 Deductions from salaries 10 judgments
- 17 —Salary‖, —perquisite‖ and —profits in lieu of salary‖ defined 12 judgments
B.— [Omitted]
- 18 [Omitted 4 judgments
- 19 [Omitted 1 judgment
- 20 [Omitted 2 judgments
- 21 [Omitted
C.—Income from house property
- 22 Income from house property 23 judgments
- 23 Annual value how determined 16 judgments
- 24 Deductions from income from house property 13 judgments
- 25 Amounts not deductible from income from house property 4 judgments
- 25A Special provision for arrears of rent and unrealised rent received subsequently 7 judgments
- 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 2 judgments
- 27 —Owner of house property‖, —annual charge‖, etc., defined 6 judgments
D.—Profits and gains of business or profession
- 28 Profits and gains of business or profession 17 judgments
- 29 Income from profits and gains of business or profession, how computed 5 judgments
- 30 Rent, rates, taxes, repairs and insurance for buildings 4 judgments
- 31 Repairs and insurance of machinery, plant and furniture 5 judgments
- 32 Depreciation 31 judgments
- 32A Investment allowance 10 judgments
- 32AB Investment deposit account 2 judgments
- 32AC Investment in new plant or machinery
- 32AD Investment in new plant or machinery in notified backward areas in certain States
- 33 Development rebate 17 judgments
- 33A Development allowance 2 judgments
- 33AB Tea development account, coffee development account and rubber development account
- 33ABA Site Restoration Fund
- 33AC Reserves for shipping business
- 33B Rehabilitation allowance 2 judgments
- 34 Conditions for depreciation allowance and development rebate 51 judgments
- 34A Restriction on unabsorbed depreciation and unabsorbed investment allowance for limited period in case of certain domestic companies
- 35 Expenditure on scientific research 10 judgments
- 35A Expenditure on acquisition of patent rights or copyrights 1 judgment
- 35AB Expenditure on know-how
- 35ABA Expenditure for obtaining right to use spectrum for telecommunication services
- 35ABB Expenditure for obtaining licence to operate telecommunication services
- 35AC Expenditure on eligible projects or schemes 1 judgment
- 35AD Deduction in respect of expenditure on specified business
- 35B [Omitted 4 judgments
- 35C [Omitted 2 judgments
- 35CC [Omitted
- 35CCA Expenditure by way of payment to associations and institutions for carrying out rural development programmes
- 35CCB Expenditure by way of payment to associations and institutions for carrying out programmes of conservation of natural resources
- 35CCC Expenditure on agricultural extension project
- 35CCD Expenditure on skill development project
- 35D Amortisation of certain preliminary expenses 2 judgments
- 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 14 judgments
- 37 General 39 judgments
- 38 Building, etc., partly used for business, etc., or not exclusively so used
- 39 [Omitted
- 40 Amounts not deductible 17 judgments
- 40A Expenses or payments not deductible in certain circumstances 12 judgments
- 41 Profits chargeable to tax 23 judgments
- 42 Special provision for deductions in the case of business for prospecting, etc., for mineral oil 3 judgments
- 43 Definitions of certain terms relevant to income from profits and gains of business or profession 15 judgments
- 43A Special provisions consequential to changes in rate of exchange of currency 6 judgments
- 43B Certain deductions to be only on actual payment 14 judgments
- 43C Special provision for computation of cost of acquisition of certain assets 1 judgment
- 43CA Special provision for full value of consideration for transfer of assets other than capital assets in certain cases 1 judgment
- 43D Special provision in case of income of public financial institutions, public companies, etc 1 judgment
- 44 Insurance business 11 judgments
- 44A Special provision for deduction in the case of trade, professional or similar association 2 judgments
- 44AA Maintenance of accounts by certain persons carrying on profession or business
- 44AB Audit of accounts of certain persons carrying on business or profession 3 judgments
- 44AC [Omitted 4 judgments
- 44AD Special provision for computing profits and gains of business on presumptive basis 1 judgment
- 44ADA Special provision for computing profits and gains of profession on presumptive basis
- 44AE Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages 1 judgment
- 44AF Special provisions for computing profits and gains of retail business 1 judgment
- 44B Special provision for computing profits and gains of shipping business in the case of non- residents 1 judgment
- 44BB Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils 3 judgments
- 44BBA Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents
- 44BBB Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects
- 44C Deduction of head office expenditure in the case of non-residents
- 44D Special provisions for computing income by way of royalties, etc., in the case of foreign companies 2 judgments
- 44DA Special provision for computing income by way of royalties, etc., in the case of non- residents
- 44DB Special provision for computing deductions in the case of business reorganisation of co- operative banks
E.—Capital gains
- 45 Capital gains 24 judgments
- 46 Capital gains on distribution of assets by companies in liquidation 11 judgments
- 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
- 48 Mode of computation 12 judgments
- 49 Cost with reference to certain modes of acquisition 1 judgment
- 50 Special provision for computation of capital gains in case of depreciable assets 1 judgment
- 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 1 judgment
- 50CA Special provision for full value of consideration for transfer of share other than quoted share
- 50D Fair market value deemed to be full value of consideration in certain cases
- 51 Advance money received 2 judgments
- 52 [Omitted 11 judgments
- 53 [Omitted 1 judgment
- 54 Profit on sale of property used for residence 3 judgments
- 54A [Omitted
- 54B Capital gain on transfer of land used for agricultural purposes not to be charged in certain cases
- 54C [Omitted
- 54D Capital gain on compulsory acquisition of lands and buildings not to be charged in certain cases
- 54E Capital gain on transfer of capital assets not to be charged in certain cases
- 54EA Capital gain on transfer of long-term capital assets not to be charged in the case of investment in specified securities 1 judgment
- 54EB Capital gain on transfer of long-term capital assets not to be charged in certain cases
- 54EC Capital gain not to be charged on investment in certain bonds
- 54ED Capital gain on transfer of certain listed securities or unit not to be charged in certain cases
- 54EE Capital gain not to be charged on investment in units of a specified fund
- 54F Capital gain on transfer of certain capital assets not to be charged in case of investment in residential house
- 54G Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area 1 judgment
- 54GA Exemption capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone
- 54GB Capital gain on transfer of residential property not to be charged in certain cases
- 54H Extension of time for acquiring new asset or depositing or investing amount of capital gain
- 55 Meaning of —adjusted‖, —cost of improvement‖ and —cost of acquisition‖ 5 judgments
- 55A Reference to Valuation Officer 1 judgment
F.—Income from other sources
- 56 Income from other sources 9 judgments
- 57 Deductions 5 judgments
- 58 Amounts not deductible
- 59 Profits chargeable to tax 5 judgments
Chapter V: Income of Other Persons, Included in Assessee‘S Total Income
- 60 Transfer of income where there is no transfer of assets 3 judgments
- 61 Revocable transfer of assets
- 62 Transfer irrevocable for a specified period
- 63 —Transfer‖ and —revocable transfer‖ defined 3 judgments
- 64 Income of individual to include income of spouse, minor child, etc 10 judgments
- 65 Liability of person in respect of income included in the income of another person 1 judgment
Chapter VI: B
Aggregation of income
- 66 Total income 30 judgments
- 67 [Omitted 7 judgments
- 67A Method of computing a member‘s share in income of association of persons or body of individuals
- 68 Cash credits 8 judgments
- 69 Unexplained investments 3 judgments
- 69A Unexplained money, etc 9 judgments
- 69B Amount of investments, etc., not fully disclosed in books of account 1 judgment
- 69C Unexplained expenditure, etc 1 judgment
- 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 3 judgments
- 71 Set off of loss from one head against income from another 3 judgments
- 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 6 judgments
- 72A Provisions relating to carry forward and set-off of accumulated loss and unabsorbed depreciation allowance in amalgamation or demerger, etc 7 judgments
- 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
- 72AB Provisions relating to carry forward and set-off of accumulated loss and unabsorbed depreciation allowance in business reorganisation of co-operative banks
- 73 Losses in speculation business
- 73A Carry forward and set off of losses by specified business
- 74 Losses under the head —Capital gains‖
- 74A Losses from certain specified sources falling under the head —Income from other sources‖
- 75 Losses of firms 1 judgment
- 76 [Omitted
- 77 [Omitted 1 judgment
- 78 Carry forward and set off of losses in case of change in constitution of firm or on succession 1 judgment
- 79 Carry forward and set off of losses in case of certain companies 1 judgment
- 80 Submission of return for losses 5 judgments
A.—General
- 80A Deductions to be made in computing total income
- 80AA [Omitted
- 80AB Deductions to be made with reference to the income included in the gross total income 2 judgments
- 80AC Deduction not to be allowed unless return furnished
- 80B Definitions
B.—Deductions in respect of certain payments
- 80C Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc 2 judgments
- 80CC [Omitted
- 80CCA Deduction in respect of deposits under National Savings Scheme or payment to a deferred annuity plan
- 80CCB Deduction in respect of investment made under Equity Linked Savings Scheme
- 80CCC Deduction in respect of contribution to certain pension funds
- 80CCD Deduction in respect of contribution to pension scheme of Central Government
- 80CCE Limit on deductions under sections 80C, 80CCC and 80CCD
- 80CCF Deduction in respect of subscription to long-term infrastructure bonds
- 80CCG Deduction in respect of investment made under an equity savings scheme
- 80D Deduction in respect of health insurance premia
- 80DD Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability 2 judgments
- 80DDB Deduction in respect of medical treatment, etc
- 80E Deduction in respect of interest on loan taken for higher education 6 judgments
- 80EE Deduction in respect of interest on loan taken for residential house property
- 80F [Omitted
- 80FF [Omitted
- 80G Deduction in respect of donations to certain funds, charitable institutions, etc 4 judgments
- 80GG Deductions in respect of rents paid
- 80GGA Deduction in respect of certain donations for scientific research or rural development
- 80GGB Deduction in respect of contributions given by companies to political parties
- 80GGC Deduction in respect of contributions given by any person to political parties 1 judgment
C.-Deductions in respect of certain incomes
- 80H [Omitted
- 80HH Deduction in respect of profits and gains from newly established industrial undertakings or hotel business in backward areas 11 judgments
- 80HHA Deduction in respect of profits and gains from newly established small-scale industrial undertakings in certain areas 1 judgment
- 80HHB Deduction in respect of profits and gains from projects outside India 1 judgment
- 80HHBA Deduction in respect of profits and gains from housing projects in certain cases
- 80HHC Deduction in respect of profits retained for export business 24 judgments
- 80HHD Deduction in respect of earnings in convertible foreign exchange
- 80HHE Deduction in respect of profits from export of computer software, etc
- 80HHF Deduction in respect of profits and gains from export or transfer of film software, etc
- 80-I Deduction in respect of profits and gains from industrial undertakings after a certain date, etc
- 80J [Omitted 11 judgments
- 80JJ [Omitted
- 80JJA Deduction in respect of profits and gains from business of collecting and processing of bio-degradable waste
- 80JJAA Deduction in respect of employment of new workmen
- 80K [Omitted 2 judgments
- 80L [Omitted
- 80LA Deductions in respect of certain incomes of Offshore Banking Units and International Financial Services Centre
- 80M [Omitted
- 80MM [Omitted
- 80N [Omitted
- 80-O Deduction in respect of royalties, etc., from certain foreign enterprises
- 80P Deduction in respect of income of co-operative societies 10 judgments
- 80Q Deduction in respect of profits and gains from the business of publication of books
- 80QQ [Omitted
- 80QQA Deduction in respect of professional income of authors of text books in Indian languages
- 80QQB Deduction in respect of royalty income, etc., of authors of certain books other than text- books
- 80R Deduction in respect of remuneration from certain foreign sources in the case of professors, teachers, etc
- 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 1 judgment
- 80RRB Deduction in respect of royalty on patents
- 80S [Omitted
- 80T [Omitted 1 judgment
- 80TT [Omitted
CA.—Deductions in respect of other incomes
D.—Other deductions
- 80U Deduction in case of a person with disability 1 judgment
- 80V [Omitted 1 judgment
- 80VV [Omitted
Restriction on certain deductions in the case of companies
Chapter VII: Incomes Forming Part of Total Income on Which No Income-Tax Is Payable
- 81 [Omitted 6 judgments
- 82 [Omitted
- 83 [Omitted
- 84 [Omitted 8 judgments
- 85 [Omitted 1 judgment
- 85A [Omitted
- 85B [Omitted
- 85C [Omitted 2 judgments
- 86 Share of member of an association of persons or body of individuals in the income of the association or body
- 86A [Omitted
Chapter VIII: Rebates and Reliefs
A.—Rebate of income-tax
- 87 Rebate to be allowed in computing income-tax
- 87A Rebate of income-tax in case of certain individuals
- 88 Rebate on life insurance premia, contribution to provident fund, etc
- 88A [Omitted
- 88B [Omitted
- 88C [Omitted
- 88D [Omitted
- 88E Rebate in respect of securities transaction tax
B.—Relief for income-tax
- 89 Relief when salary, etc., is paid in arrears or in advance 9 judgments
- 89A [Omitted 1 judgment
Chapter IX: Double Taxation Relief
Chapter X: Special Provisions Relating to Avoidance of Tax
- 92 Computation of income from international transaction having regard to arm‘s length price 2 judgments
- 92A Meaning of associated enterprise
- 92B Meaning of international transaction
- 92BA Meaning of specified domestic transaction
- 92C Computation of arm‘s length price 1 judgment
- 92CA Reference to Transfer Pricing Officer 2 judgments
- 92CB Power of Board to make safe harbour rules
- 92CC Advance pricing agreement
- 92CD Effect to advance pricing agreement 1 judgment
- 92CE Secondary adjustment in certain cases
- 92D Maintenance and keeping of information and document by persons entering into an international transaction or specified domestic transaction
- 92E Report from an accountant to be furnished by persons entering into international transaction or specified domestic transaction 1 judgment
- 92F Definitions of certain terms relevant to computation of arm‘s length price, etc 1 judgment
- 93 Avoidance of income-tax by transactions resulting in transfer of income to non- residents
- 94 Avoidance of tax by certain transactions in securities
- 94A Special measures in respect of transactions with persons located in notified jurisdictional area
- 94B Limitation on interest deduction in certain cases
Chapter XA: General Anti-Avoidance Rule
- 95 Applicability of General Anti-Avoidance Rule 1 judgment
- 96 Impermissible avoidance arrangement
- 97 Arrangement to lack commercial substance
- 98 Consequences of impermissible avoidance arrangement
- 99 Treatment of connected person and accommodating party
- 100 Application of this Chapter
- 101 Framing of guidelines 1 judgment
- 102 Definitions 1 judgment
Chapter XI: Additional Income-Tax on Undistributed Profits
- 103 [Omitted
- 104 [Omitted 3 judgments
- 105 [Omitted
- 106 [Omitted
- 107 [Omitted
- 107A [Omitted
- 108 [Omitted
- 109 [Omitted 1 judgment
Chapter XII: H
- 110 Determination of tax where total income includes income on which no tax is payable 1 judgment
- 111 Tax on accumulated balance of recognised provident fund
- 111A Tax on short-term capital gains in certain cases
- 112 Tax on long-term capital gains 1 judgment
- 112A [Omitted
- 113 Tax in the case of block assessment of search cases 8 judgments
- 114 [Omitted 1 judgment
- 115 [Omitted 1 judgment
- 115A Tax on dividends, royalty and technical service fees in the case of foreign Companies
- 115AB Tax on income from units purchased in foreign currency or capital gains arising from their transfer
- 115AC Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer
- 115ACA Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer
- 115AD Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer
- 115B Tax on profits and gains of life insurance business
- 115BA Tax on income of certain domestic companies
- 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
- 115BBA Tax on non-resident sportsmen or sports associations 1 judgment
- 115BBB Tax on income from units of an open-ended equity oriented fund of the Unit Trust of India or of Mutual Funds
- 115BBC Anonymous donations to be taxed in certain cases
- 115BBD Tax on certain dividends received from foreign companies
- 115BBDA Tax on certain dividends received from domestic companies
- 115BBE Tax on income referred to in section 68 or section 69 or section 69A or section 69B or section 69C or section 69D
- 115BBF Tax on income from patent
- 115BBG Tax on income from transfer of carbon credits
Special provisions relating to certain companies
- 115J Special provisions relating to certain companies 7 judgments
- 115JA Deemed income relating to certain companies 3 judgments
- 115JAA Tax credit in respect of tax paid on deemed income relating to certain companies 2 judgments
- 115JB Special provision for payment of tax by certain companies 3 judgments
Special provisions relating to certain persons other than a company
- 115JC Special provisions for payment of tax by certain persons other than a company
- 115JD Tax credit for alternate minimum tax
- 115JE Application of other provisions of this Act
- 115JEE Application of this Chapter to certain persons
- 115JF Interpretation in this Chapter
Foreign bank into a subsidiary company
Be resident in inida
Special provisions relating to retail trade, etc
Profits of domestic companies
- 115-O Tax on distributed profits of domestic companies
- 115P Interest payable for non-payment of tax by domestic companies
- 115Q When company is deemed to be in default
Company for buy-back of shares
- 115QA Tax on distributed income to shareholders
- 115QB Interest payable for non-payment of tax by company
- 115QC When company is deemed to be assessee in default
Special provisions relating to tax on distributed income
- 115R Tax on distributed income to unit holders
- 115S Interest payable for non-payment of tax
- 115T Unit trust of India or mutual fund to be an assessee in default
Securitisation trusts
- 115TA Tax on distributed income to investors
- 115TB Interest payable for non-payment of tax
- 115TC Securitisation trust to be assessee in default
- 115TCA Tax on income from securitization trusts
Of certain trusts and institutions
- 115TD Tax on accreted income
- 115TE Interest payable for non-payment of tax by trust or institution
- 115TF When trust or institution is deemed to be assessee in default
Companies and venture captial funds
Special provisions relating to business trusts
Received from such funds
A. — Meaning of certain expressions
B.—Computation of tonnage income from business of
- 115VA Computation of profits and gains from the business of operating qualifying ships
- 115VB Operating ships
- 115VC Qualifying company
- 115VD Qualifying ship
- 115VE Manner of computation of income under tonnage tax scheme
- 115VF Tonnage income
- 115VG Computation of tonnage income
- 115VH Calculation in case of joint operation, etc
- 115V-I Relevant shipping income
- 115VJ Treatment of common costs
- 115VK Depreciation
- 115VL General exclusion of deduction and set off, etc
- 115VM Exclusion of loss
- 115VN Chargeable gains from transfer of tonnage tax assets
- 115V-O Exclusion from provisions of section 115JB
C.—Procedure for option of tonnage tax scheme
- 115VP Method and time of opting for tonnage tax scheme
- 115VQ Period for which tonnage tax option to remain in force
- 115VR Renewal of tonnage tax scheme
- 115VS Prohibition to opt for tonnage tax scheme in certain cases
D.—Conditions for applicability of tonnage tax scheme
- 115VT Transfer of profits to Tonnage Tax Reserve Account
- 115VU Minimum training requirement for tonnage tax company
- 115VV Limit for charter in of tonnage
- 115VW Maintenance and audit of accounts
- 115VX Determination of tonnage
E.—Amalgamation and demerger of shipping companies
F.— Miscellaneous
G.—Provisions of this chapter not to apply in certain cases
B. —Basis of charge
- 115WA Charge of fringe benefit tax
- 115WB Fringe benefits 1 judgment
- 115WC Value of fringe benefits 1 judgment
C.—Procedure for filing of return in respect of fringe benefits, assessment and
- 115WD Return of fringe benefits
- 115WE Assessment
- 115WF Best judgment assessment
- 115WG Fringe benefits escaping assessment
- 115WH Issue of notice where fringe benefits have escaped assessment
- 115WI Payment of fringe benefit tax
- 115WJ Advance tax in respect of fringe benefits
- 115WK Interest for default in furnishing return of fringe benefits
- 115WKA Recovery of fringe benefit tax by the employer from the employee
- 115WKB Deemed payment of tax by employee
- 115WL Application of other provisions of this Act
- 115WM Chapter XII-H not to apply after a certain date
Chapter XIIA: Special Provions Relating to Certain Incomes of Non-Residents
- 115C Definitions
- 115D Special provision for computation of total income of non-residents
- 115E Tax on investment income and long-term capital gains
- 115F Capital gains on transfer of foreign exchange assets not to be charged in certain cases
- 115G Return of income not to be filed in certain cases
- 115H Benefit under Chapter to be available in certain cases even after the assessee become resident
- 115-I Chapter not to apply if the assessee so chooses
Chapter XIII: Income-Tax Authorities
A. —Appointment and control
- 116 Income-tax authorities 2 judgments
- 117 Appointment of income-tax authorities 1 judgment
- 118 Control of income-tax authorities
- 119 Instructions to subordinate authorities 16 judgments
B.—Jurisdiction
- 120 Jurisdiction of income-tax authorities 1 judgment
- 121 [Omitted
- 121A [Omitted
- 122 [Omitted
- 123 [Omitted
- 124 Jurisdiction of Assessing Officers
- 125 [Omitted
- 125A [Omitted
- 126 [Omitted 1 judgment
- 127 Power to transfer cases 7 judgments
- 128 [Omitted 2 judgments
- 129 Change of incumbent of an office
- 130 [Omitted
- 130A [Omitted
C.—Powers
- 131 Power regarding discovery, production of evidence, etc 9 judgments
- 132 Search and seizure 41 judgments
- 132A Powers to requisition books of account, etc 7 judgments
- 132B Application of seized or requisitioned assets
- 133 Power to call for information 7 judgments
- 133A Power of survey 8 judgments
- 133B Power to collect certain information
- 133C Power to call for information by prescribed income-tax authority
- 134 Power to inspect registers of companies 1 judgment
- 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 1 judgment
- 136 Proceedings before income-tax authorities to be judicial proceedings 1 judgment
D. —Disclosure of information
Chapter XIV: B
- 139 Return of income 29 judgments
- 139A Permanent account number 1 judgment
- 139AA Quoting of Aadhaar number 2 judgments
- 139B Scheme for submission of returns through Tax Return Preparers
- 139C Power of Board to dispense with furnishing documents, etc., with return
- 139D Filing of return in electronic form
- 140 Return by whom to be verified 2 judgments
- 140A Self-assessment 1 judgment
- 141 [Omitted 1 judgment
- 141A [Omitted
- 142 Inquiry before assessment 20 judgments
- 142A Estimation of value of assets by Valuation Officer
- 143 Assessment 50 judgments
- 144 Best judgment assessment 4 judgments
- 144A Power of Joint Commissioner to issue directions in certain cases 1 judgment
- 144B [Omitted 1 judgment
- 144BA Reference to Principal Commissioner or Commissioner in certain cases
- 144C Reference to dispute resolution panel 1 judgment
- 145 Method of accounting 6 judgments
- 145A Method of accounting in certain cases
- 146 [Omitted 2 judgments
- 147 Income escaping assessment 49 judgments
- 148 Issue of notice where income has escaped assessment 57 judgments
- 149 Time limit for notice 2 judgments
- 150 Provision for cases where assessment is in pursuance of an order on appeal, etc 1 judgment
- 151 Sanction for issue of notice 3 judgments
- 152 Other provisions
- 153 Time limit for completion of assessments, reassessments and recomputation 8 judgments
- 153A Assessment in case of search or requisition 4 judgments
- 153B Time-limit for completion of assessment under section 153A
- 153C Assessment of income of any other person 5 judgments
- 153D Prior approval necessary for assessment in cases of search or requisition
- 154 Rectification of mistake 12 judgments
- 155 Other amendments 5 judgments
- 156 Notice of demand 6 judgments
- 157 Intimation of loss
- 158 Intimation of assessment of firm
Special provision for avoiding repetitive appeals
- 158A Procedure when assessee claims identical question of law is pending before High Court or Supreme Court
- 158AA Procedure when in an appeal by revenue an identical question of law is pending before Supreme Court
Special procedure for assessment of search cases
- 158B Definitions 1 judgment
- 158BA Assessment of undisclosed income as a result of search
- 158BB Computation of undisclosed income of the block period 1 judgment
- 158BC Procedure for block assessment 4 judgments
- 158BD Undisclosed income of any other person 1 judgment
- 158BE Time limit for completion of block assessment 2 judgments
- 158BF Certain interests and penalties not to be levied or imposed
- 158BFA Levy of interest and penalty in certain cases 1 judgment
- 158BG Authority competent to make the block assessment
- 158BH Application of other provisions of this Act
- 158BI Chapter not to apply after certain date
Chapter XV: Liability in Special Cases
A.—Legal representatives
- 159 Legal representatives 3 judgments
B.—Representative assesses – General provisions
- 160 Representative assessee 4 judgments
- 161 Liability of representative assessee 6 judgments
- 162 Right of representative assessee to recover tax paid
C.—Representative assesses- Special cases
- 163 Who may be regarded as agent 4 judgments
- 164 Charge of tax where share of beneficiaries unknown 2 judgments
- 164A Charge of tax in case of oral trust
- 165 Case where part of trust income is chargeable
D.—Representative assesses-Miscellaneous provisions
- 166 Direct assessment or recovery not barred 2 judgments
- 167 Remedies against property in cases of representative assessees
DD.—Firms, association of persons and body of individuals
- 167A Charge of tax in the case of a firm
- 167B Charge of tax where shares of members in association of persons or body of individuals unknown, etc
- 167C Liability of partners of limited liability partnership in liquidation
E.—Executors
F.—Succession to business or profession
G.—Partition
H.—Profits of non-residents from occasional shipping business
- 172 Shipping business of non-residents 3 judgments
- 173 Recovery of tax in respect of non-resident from his assets
J.—Persons leaving India
JA.—Association of persons or body of individuals or artificial juridical person
K.—Persons trying to alienate their assets
L.—Discontinuance of business, or dissolution
- 176 Discontinued business 1 judgment
- 177 Association dissolved or business discontinued
- 178 Company in liquidation 2 judgments
M.—Private companies
- 179 Liability of directors of private company in liquidation N.—Special provisions for certain kinds of income 1 judgment
- 180 Royalties or copyright fees for literary or artistic work
- 180A Consideration for know-how
O.—[Omitted]
Chapter XVI: Special Provisions Applicable to Firms
A.—Assessment of firms
- 182 [Omitted
- 183 [Omitted
- 184 Assessment as a firm 4 judgments
- 185 Assessment when section 184 not complied with 5 judgments
C.—Changes in constitution, succession and dissolution
Chapter XVII: Collection and Recovery of Tax
A.—General
B.—Deduction at source
- 192 Salary 8 judgments
- 192A Payment of accumulated balance due to an employee
- 193 Interest on securities 1 judgment
- 194 Dividends 2 judgments
- 194A Interest other than —Interest on securities‖ 3 judgments
- 194B Winnings from lottery or crossword puzzle
- 194BB Winnings from horse race
- 194C Payments to contractors 7 judgments
- 194D Insurance commission
- 194DA Payment in respect of life insurance policy
- 194E Payments to non-resident sportsmen or sports associations 2 judgments
- 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 1 judgment
- 194H Commission or brokerage 5 judgments
- 194-I Rent
- 194J Fees for professional or technical services 1 judgment
- 194K [Omitted
- 194L [Omitted
- 194LA Payment of compensation on acquisition of certain immovable property
- 194LB Income by way of interest from infrastructure debt fund
- 194LBA Certain income from units of a business trust
- 194LBB Income in respect of units of investment fund
- 194LBC Income in respect of investment in securitization trust
- 194LC Income by way of interest from Indian company
- 194LD Income by way of interest on certain bonds and Government securities
- 195 Other sums 11 judgments
- 195A Income payable net of tax
- 196 Interest or dividend or other sums payable to Government, Reserve Bank or certain Corporations
- 196A Income in respect of units of non-residents
- 196B Income from units
- 196C Income from foreign currency bonds or shares of Indian company
- 196D 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
- 199 Credit for tax deducted 1 judgment
- 200 Duty of person deducting tax 1 judgment
- 200A Processing of statements of tax deducted at source
- 201 Consequences of failure to deduct or pay 8 judgments
- 202 Deduction only one mode of recovery
- 203 Certificate for tax deducted 1 judgment
- 203A Tax deduction and collection account number
- 203AA Furnishing of statement of tax deducted
- 204 Meaning of —person responsible for paying‖
- 205 Bar against direct demand on assessee
- 206 Persons deducting tax to furnish prescribed returns
- 206A Furnishing of quarterly return in respect of payment of interest to residents without deduction of tax
- 206AA Requirement to furnish Permanent Account Number
- 206B [Omitted
BB.—Collection at source
- 206C Profits and gains from the business of trading in alcoholic liquor, forest produce, scrap, etc 6 judgments
- 206CA Tax collection account number
- 206CB Processing of statements of tax collected at source
- 206CC Requirement to furnish Permanent Account Number by collectee
C.—Advance payment of tax
- 207 Liability for payment of advance tax 1 judgment
- 208 Conditions of liability to pay advance tax 1 judgment
- 209 Computation of advance tax 1 judgment
- 209A [Omitted
- 210 Payment of advance tax by the assessee of his own accord or in pursuance of order of Assessing Officer 3 judgments
- 211 Instalments of advance tax and due dates
- 212 [Omitted 2 judgments
- 213 [Omitted
- 214 Interest payable by Government 5 judgments
- 215 Interest payable by assessee 5 judgments
- 216 Interest payable by assessee in case of under-estimate, etc
- 217 Interest payable by assessee when no estimate made 2 judgments
- 218 When assessee deemed to be in default
- 219 Credit for advance tax 1 judgment
D.—Collection and recovery
- 220 When tax payable and when assessee deemed in default 9 judgments
- 221 Penalty payable when tax in default 1 judgment
- 222 Certificate to Tax Recovery Officer 6 judgments
- 223 Tax Recovery Officer by whom recovery is to be effected
- 224 Validity of certificate and cancellation or amendment thereof
- 225 Stay of proceedings in pursuance of certificate and amendment or cancellation thereof 3 judgments
- 226 Other modes of recovery 7 judgments
- 227 Recovery through State Government
- 228 [Omitted
- 228A Recovery of tax in pursuance of agreements with foreign countries
- 229 Recovery of penalties, fine, interest and other sums
- 230 Tax clearance certificate 2 judgments
- 230A [Omitted 9 judgments
- 231 [Omitted
- 232 Recovery by suit or under other law not affected 1 judgment
E.—Tax payable under provisional assessment
F.—Interest chargeable in certain cases
- 234A Interest for defaults in furnishing return of income 2 judgments
- 234B Interest for defaults in payment of advance tax 4 judgments
- 234C Interest for deferment of advance tax 3 judgments
- 234D Interest on excess refund
G.—Levy of fee in certain cases
Chapter XVIII: Relief Respecting Tax on Dividends in Certain Cases
Chapter XIX: B
- 237 Refunds 1 judgment
- 238 Person entitled to claim refund in certain special cases
- 239 Form of claim for refund and limitation
- 240 Refund on appeal, etc 3 judgments
- 241 [Omitted
- 242 Correctness of assessment not to be questioned
- 241A Withholding of refund in certain cases 1 judgment
- 243 Interest on delayed refunds 1 judgment
- 244 Interest on refund where no claim is needed 7 judgments
- 244A Interest on refunds 3 judgments
- 245 Set off of refunds against tax remaining payable 5 judgments
Settlement of cases
- 245A Definitions 1 judgment
- 245B Income-tax Settlement Commission 2 judgments
- 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 8 judgments
- 245D Procedure on receipt of an application under section 245C 4 judgments
- 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 2 judgments
- 245HA Abatement of proceeding before Settlement Commission
- 245HAA Credit for tax paid in case of abatement of proceedings
- 245-I Order of settlement to be conclusive
- 245J Recovery of sums due under order of settlement
- 245K Bar on subsequent application for settlement
- 245L Proceedings before Settlement Commission to be judicial proceedings
- 245M [Omitted 4 judgments
Advance rulings
- 245N Definitions
- 245-O Authority for Advance Rulings
- 245P Vacancies, etc., not to invalidate proceedings
- 245Q Application for advance ruling
- 245R Procedure on receipt of application
- 245RR Appellate authority not to proceed in certain cases
- 245S Applicability of advance ruling
- 245T Advance ruling to be void in certain circumstances
- 245U Powers of the Authority
- 245V Procedure of Authority
Chapter XX: Appeals and Revision
A.—Appleas to the Deputy Commissioner (Appeals) and commissioner (Appeals)
- 246 Appealable orders 4 judgments
- 246A Appealable orders before Commissioner (Appeals) 1 judgment
- 247 [Omitted 1 judgment
- 248 Appeal by a person denying liability to deduct tax in certain cases 1 judgment
- 249 Form of appeal and limitation
- 250 Procedure in appeal 2 judgments
- 251 Powers of the Commissioner (Appeals) 4 judgments
B. Appeals to the Appellate Tribunal
- 252 Appellate Tribunal 2 judgments
- 253 Appeals to the Appellate Tribunal
- 254 Orders of Appellate Tribunal 11 judgments
- 255 Procedure of Appellate Tribunal 4 judgments
C.—Reference to High Court
- 256 Statement of case to the High Court 131 judgments
- 257 Statement of case to Supreme Court in certain cases 11 judgments
- 258 Power of High Court or Supreme Court to require statement to be amended 1 judgment
- 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 7 judgments
CC.—Appeals to High Court
- 260A Appeal to High Court 45 judgments
- 260B Case before High Court to be heard by not less than two Judges 1 judgment
D.—Appeals to the Supreme Court
- 261 Appeal to Supreme Court 27 judgments
- 262 Hearing before Supreme Court 1 judgment
E.—Revision by the Principal Commissioner or Commissioner
- 263 Revision of orders prejudicial to revenue 31 judgments
- 264 Revision of other orders 7 judgments
F.—General
- 265 Tax to be paid notwithstanding reference, etc
- 266 Execution for costs awarded by Supreme Court 1 judgment
- 267 Amendment of assessment on appeal
- 268 Exclusion of time taken for copy
- 268A Filing of appeal or application for reference by income-tax authority 1 judgment
- 269 Definition of —High Court‖ 2 judgments
Chapter XXA: Acquisition of Immovable Properties in Certain Cases of Transfer to Counteract Evasion of Tax
- 269A Definitions
- 269AB Registration of certain transactions
- 269B Competent authority 1 judgment
- 269C Immovable property in respect of which proceedings for acquisition may be taken
- 269D Preliminary notice 2 judgments
- 269E Objections
- 269F Hearing of objections
- 269G Appeal against order for acquisition
- 269H Appeal to High Court 1 judgment
- 269I Vesting of property in Central Government
- 269J Compensation
- 269K Payment or deposit of compensation
- 269L Assistance by Valuation Officers
- 269M Powers of competent authority
- 269N Rectification of mistakes
- 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
Chapter XXC: Purchase by Central Government of Immovable Properties in Certain Cases of Transfer
- 269U Commencement of Chapter
- 269UA Definitions 2 judgments
- 269UB Appropriate authority
- 269UC Restrictions on transfer of immovable property 5 judgments
- 269UD Order by appropriate authority for purchase by Central Government of immovable property 15 judgments
- 269UE Vesting of property in Central Government 6 judgments
- 269UF Consideration for purchase of immovable property by Central Government
- 269UG Payment or deposit of consideration 1 judgment
- 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
- 269UK Restrictions on revocation or alteration of certain agreements for the transfer of immovable property or on transfer of certain immovable property
- 269UL Restrictions on registration, etc., of documents in respect of transfer of immovable property 1 judgment
- 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 1 judgment
- 269UP Chapter not to apply where transfer of immovable property effected after certain date
Chapter XXI: Penalties Imposable
- 270 [Omitted
- 270A Penalty for under reporting and misreporting of income 1 judgment
- 270AA Immunity from imposition of penalty, etc
- 271 Failure to furnish returns, comply with notices, concealment of income, etc 27 judgments
- 271A Failure to keep, maintain or retain books of account, documents, etc
- 271AA Penalty for failure to keep and maintain information and document, etc., in respect of certain transactions
- 271AAA Penalty where search has been initiated 1 judgment
- 271AAB Penalty where search has been initiated
- 271AAC Penalty in respect of certain income
- 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 3 judgments
- 271CA Penalty for failure to collect tax at source
- 271D Penalty for failure to comply with the provisions of section 269SS 1 judgment
- 271DA Penalty for failiure to comply with provisions of section 269ST
- 271E Penalty for failure to comply with the provisions of section 269T
- 271F Penalty for failure to furnish return of income
- 271FA Penalty for failure to furnish statement of financial transaction or reportable income
- 271FAA Penalty for furnishing inaccurate statement of financial transaction or reportable account
- 271FAB Penalty for failure to furnishing statement or information or document by an eligible investment fund
- 271FB Penalty for failure to furnish return of fringe benefits
- 271G Penalty for failure to furnish information or document under section 92D
- 271GA Penalty for failure to furnish information or document under section 285A
- 271GB Penalty for failure to furnish report or for furnishing inaccurate report under section 286
- 271H Penalty for failure to furnish statements, etc
- 271-I Penalty for failure to furnish information or furnishing inaccurate information under section 195
- 271J Penalty for furnishing incorrect information in reports or certificates
- 272 [Omitted
- 272A Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc
- 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 1 judgment
- 273A Power to reduce or waive penalty, etc., in certain cases 2 judgments
- 273AA Power of Principal Commissioner or Commissioner to grant immunity from penalty
- 273B Penalty not to be imposed in certain cases
- 274 Procedure 4 judgments
- 275 Bar of limitation for imposing penalties
Chapter XXII: B
- 275A Contravention of order made under sub-section (3) of section 132 1 judgment
- 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 2 judgments
- 276A Failure to comply with the provisions of sub-sections (1) and (3) of section 178
- 276AA [Omitted
- 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 1 judgment
- 276BB Failure to pay the tax collected at source
- 276C Wilful attempt to evade tax, etc 10 judgments
- 276CC Failure to furnish returns of income 5 judgments
- 276CCC Failure to furnish return of income in search cases
- 276D Failure to produce accounts and documents
- 276DD [Omitted 1 judgment
- 276E [Omitted
- 277 False statement in verification, etc 7 judgments
- 277A Falsification of books of account or document, etc
- 278 Abetment of false return, etc 2 judgments
- 278A Punishment for second and subsequent offences
- 278AA Punishment not to be imposed in certain cases
- 278AB Power of Principal Commissioner or Commissioner to grant immunity from prosecution
- 278B Offences by companies 5 judgments
- 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 1 judgment
- 279 Prosecution to be at instance of Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner 6 judgments
- 279A Certain offences to be non-cognizable
- 279B Proof of entries in records or documents
- 280 Disclosure of particulars by public servants
Annuity deposits
- 280A Special Courts
- 280B Offences triable by Special Court
- 280C Trial of offences as summons case
- 280D Application of Code of Criminal Procedure, 1973 to proceedings before Special Court 2 judgments
- 280E [Omitted
- 280F [Omitted
- 280G [Omitted
- 280H [Omitted
- 280-I [Omitted
- 280J [Omitted
- 280K [Omitted
- 280L [Omitted
- 280M [Omitted
- 280N [Omitted
- 280-O [Omitted
- 280P [Omitted
- 280Q [Omitted
- 280R [Omitted
- 280S [Omitted
- 280T [Omitted
- 280U [Omitted
- 280V [Omitted
- 280W [Omitted
- 280X [Omitted
Tax credit certificates
- 280Y [Omitted 1 judgment
- 280Z [Omitted
- 280ZA [Omitted 1 judgment
- 280ZB [Omitted
- 280ZC [Omitted 2 judgments
- 280ZD [Omitted 2 judgments
- 280ZE [Omitted
Chapter XXIII: Miscellaneous
- 281 Certain transfers to be void 2 judgments
- 281A [Repealed 3 judgments
- 281B Provisional attachment to protect revenue in certain cases 3 judgments
- 282 Service of notice generally
- 282A Authentication of notices and other documents
- 282B [Omitted
- 283 Service of notice when family is disrupted or firm, etc., is dissolved
- 284 Service of notice in the case of discontinued business
- 285 Submission of statement by a non-resident having liaison office
- 285A Furnishing of information or documents by an Indian concern in certain cases
- 285B Submission of statements by producers of cinematograph films
- 285BA Obligation to furnish statement of financial transaction or reportable account
- 286 Furnishing of report in respect of international group
- 287 Publication of information respecting assessees in certain cases
- 287A Appearance by registered valuer in certain matters
- 288 Appearance by authorised representative 4 judgments
- 288A Rounding off of income
- 288B Rounding off amount payable and refund due
- 289 Receipt to be given
- 290 Indemnity
- 291 Power to tender immunity from prosecution 1 judgment
- 292 Cognizance of offences
- 292A Section 360 of the Code of Criminal Procedure, 1973, and the Probation of Offenders Act, 1958, not to apply
- 292B Return of income, etc., not to be invalid on certain grounds 1 judgment
- 292BB Notice deemed to be valid in certain circumstances 1 judgment
- 292C Presumption as to assets, books of account, etc
- 292CC Authorisation and assessment in case of search or requisition
- 293 Bar of suits in civil courts 4 judgments
- 293A Power to make exemption, etc., in relation to participation in the business of prospecting for, extraction, etc., of mineral oils 1 judgment
- 293B Power of Central Government or Board to condone delays in obtaining approval
- 293C Power to withdraw approval
- 294 Act to have effect pending legislative provision for charge of tax
- 294A Power to make exemption, etc., in relation to certain Union territories
- 295 Power to make rules 3 judgments
- 296 Rules and certain notifications to be placed before Parliament 1 judgment
- 297 Repeals and savings 8 judgments
- 298 Power to remove difficulties 1 judgment
Source: India Code (Legislative Department), the text of the Act as it stood before its repeal. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.