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Chapter IPreliminary

1Short title, extent and commencement
2Definitions
3"Previous year" defined. [ Substituted by Act 27 of 1999, Section 4, for Section 3 (w.e.f. 1.4.2000).]

Chapter IIBasis Of Charge

4Charge of income-tax
5Scope of total income
5A[ Apportionment of income between spouses governed by Portuguese Civil Code. [ Inserted by Act 32 of 1994, Section 4 (w.r.e.f. 1.4.1963).]
6Residence in India
7Income deemed to be received
8Dividend income
9Income deemed to accrue or arise in India
9ACertain activities not to constitute business connection in India
9BIncome on receipt of capital asset or stock in trade by specified person from specified entity

Chapter IIIIncomes Which Do Not Form Part of Total Income

10Incomes not included in total income
10A[ Special provision in respect of newly established undertakings in free trade zone, etc. [Substituted by Act 10 of 2000, Section 6, for Section 10-A (w.e.f. 1.4.2001).]
10AA[ Special provisions in respect of newly established Units in Special Economic Zones. [Inserted by Act 28 of 2005, Section 27 and Schedule II (w.e.f. 10.2.2006).]
10B[ Special provisions in respect of newly established hundred per cent. export-oriented undertakings. [Substituted by Act 10 of 2000, Section 7, for Section 10-B (w.e.f. 1.4.2001).]
10BA[ Special provisions in respect of export of certain articles or things. [ Inserted by Act 54 of 2003, Section 3 (w.e.f. 1.4.2004).]
10BB[ Meaning of computer programmes in certain cases. [ Inserted by Act 14 of 2001, Section 8 (w.r.e.f. 1.4.1994).]
10C[ Special provision in respect of certain industrial undertakings in North-Eastern Region. [ Inserted by Act 27 of 1999, Section 7 (w.e.f. 1.4.1999).]
11Income from property held for charitable or religious purposes
12Income of trusts or institutions from contributions
12A[Conditions for applicability of sections 11 and 12] [ Substituted by Act 22 of 2007, Section 8, for " Conditions as to registration of trusts, etc." (w.e.f. 1.6.2007).]
12AA[Procedure for registration.]
12AB[Procedure for fresh registration.] [Ins. by the Act No. 38 of 2020, w.e.f. 1-4-2021.]
12ACMerger of charitable trusts or institutions in certain cases
13Section 11 not to apply in certain cases
13A[Special provision relating to incomes of political parties.]
13B[ Special provisions relating to voluntary contributions received by electoral trust. [ Inserted by Act 33 of 2009, Section 8 (w.e.f. 1.4.2010).]

Chapter IVComputation Of Total Income

14Heads of income
14AExpenditure incurred in relation to income not includible in total income [ Inserted by Act 14 of 2001, Section 11 (w.r.e.f. 1.4.1962).]
15Salaries
16Deductions from salaries
17"Salary", "perquisite" and "profits in lieu of salary" defined
18to 21
22Income from house property
23[ Annual value how determined. [ Substituted by Act 14 of 2001, Section 14, for Section 23 (w.e.f. 1.4.2002).]
24[ Deductions from income from house property. [Substituted by Act 14 of 2001, Section 15, for Section 24 (w.e.f. 1.4.2002).]
25Amounts not deductible from income from house property
25A[ Special provision for cases where unrealised rent allowed as deduction is realised subsequently. [Inserted by Act 67 of 1984, Section 9 (w.e.f. 1.4.1985).]
25AA[ Unrealised rent received subsequently to be charged to income-tax. [ Inserted by Act 14 of 2001, Section 18 (w.e.f. 1.4.2002).]
25B[ Special provision for arrears of rent received. [Inserted by Act 10 of 2000, Section 13 (w.e.f. 1.4.2001).]
26Property owned by co-owners
27"Owner of house property", "annual charge", etc., defined
28Profits and gains of business or profession
29Income from profits and gains of business or profession, how computed
30Rent, rates, taxes, repairs and insurance for buildings
31Repairs and insurance of machinery, plant and furniture
32Depreciation
32AInvestment allowance
32ABInvestment deposit account
32ACInvestment in new plant or machinery
32ADInvestment in new plant or machinery in notified backward areas in certain States
33Development rebate
33ADevelopment allowance
33ABTea development account ,coffee development account and rubber development account
33ABASite Restoration Fund
33ACReserves for shipping business
33BRehabilitation allowance
34Conditions for depreciation allowance and development rebate
34ARestriction on unabsorbed depreciation and unabsorbed investment allowance for limited period in case of certain domestic companies
35Expenditure on scientific research
35AExpenditure on acquisition of patent rights or copyrights
35ABExpenditure on know-how
35ABAExpenditure for obtaining right to use spectrum for telecommunication services
35ABBExpenditure for obtaining licence to operate telecommunication services
35ACExpenditure on eligible projects or schemes
35ADDeduction in respect of expenditure on specified business
35CCAExpenditure by way of payment to associations and institutions for carrying out rural development programmes
35CCBExpenditure by way of payment to associations and institutions for carrying out programmes of conservation of natural resources
35CCCExpenditure on agricultural extension project
35CCDExpenditure on skill development project
35DAmortisation of certain preliminary expenses
35DDAmortisation of expenditure in case of amalgamation or demerger
35DDAAmortisation of expenditure incurred under voluntary retirement scheme
35EDeduction for expenditure on prospecting, etc., for certain minerals
36Other deductions
37General
38Building, etc., partly used for business, etc., or not exclusively so used
40Amounts not deductible
40AExpenses or payments not deductible in certain circumstances
41Profits chargeable to tax
42Special provision for deductions in the case of business for prospecting, etc., for mineral oil
43Definitions of certain terms relevant to income from profits and gains of business or profession
43ASpecial provisions consequential to changes in rate of exchange of currency
43AATaxation of foreign exchange fluctuation
43BCertain deductions to be only on actual payment
43CSpecial provision for computation of cost of acquisition of certain assets
43CASpecial provision for full value of consideration for transfer of assets other than capital assets in certain cases
43CBComputation of income from construction and service contracts
43D***] etc
44Insurance business
44ASpecial provision for deduction in the case of trade, professional or similar association
44AAMaintenance of accounts by certain persons carrying on profession or business
44ABAudit of accounts of certain persons carrying on business or profession
44ADSpecial provision for computing profits and gains of business on presumptive basis
44ADASpecial provision for computing profits and gains of profession on presumptive basis
44AESpecial provision for computing profits and gains of business of plying, hiring or leasing goods carriages
44AFSpecial provisions for computing profits and gains of retail business
44BSpecial provision for computing profits and gains of shipping business other than cruise shipping in case of non-residents
44BBSpecial provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils
44BBASpecial provision for computing profits and gains of the business of operation of aircraft in the case of non-residents
44BBBSpecial provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects
44BBCSpecial provision for computing profits and gains of business of operation of cruise ships in case of non-residents
44BBDSpecial provision for computing profits and gains of non-residents engaged in business of providing services or technology for setting up an electronics manufacturing facility or in connection with manufacturing or producing electronic goods, article or thing in India
44CDeduction of head office expenditure in the case of non-residents
44DSpecial provisions for computing income by way of royalties, etc., in the case of foreign companies
44DASpecial provision for computing income by way of royal ties, etc., in case of non-residents
44DBSpecial provision for computing deductions in the case of business reorganization of co-operative banks
45Capital gains
46Capital gains on distribution of assets by companies in liquidation
46ACapital gains on purchase by company of its own shares or other specified securities
47Transactions not regarded as transfer
47AWithdrawal of exemption in certain cases
48Mode of computation
49Cost with reference to certain modes of acquisition
50Special provision for computation of capital gains in case of depreciable assets
50ASpecial provision for cost of acquisition in case of depreciable asset
50AASpecial provision for computation of capital gains in case of Market Linked Debenture
50BSpecial provision for computation of capital gains in case of slump sale
50CSpecial provision for full value of consideration in certain cases
50CASpecial provision for full value of consideration for transfer of share other than quoted share
50DFair market value deemed to be full value of consideration in certain cases
51Advance money received
54Profit on sale of property used for residence
54BCapital gain on transfer of land used for agricultural purposes not to be charged in certain cases
54DCapital gain on compulsory acquisition of lands and buildings not to be charged in certain cases
54ECapital gain on transfer of capital assets not to be charged in certain cases
54EACapital gain on transfer of long-term capital assets not to be charged in the case of investment in specified securities
54EBCapital gain on transfer of long-term capital assets not to be charged in certain cases
54ECCapital gain not to be charged on investment in certain bonds
54EDCapital gain on transfer of certain listed securities or unit not to be charged in certain cases
54EECapital gain not to be charged on investment in units of a specified fund
54FCapital gain on transfer of certain capital assets not to be charged in case of investment in residential house
54GExemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area
54GAExemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone
54GBCapital gain on transfer of residential property not to be charged in certain cases
54HExtension of time for acquiring new asset or depositing or investing amount of capital gain
55Meaning of "adjusted", "cost of improvement" and "cost of acquisition"
55AReference to Valuation Officer
56Income from other sources
57Deductions
58Amounts not deductible
59Profits chargeable to tax

Chapter VIncome Of Other Persons, Included In Assessee's Total Income

60Transfer of income where there is no transfer of assets
61Revocable transfer of assets
62Transfer irrevocable for a specified period
63"Transfer" and "revocable transfer" defined
64Income of individual to include income of spouse, minor child, etc
65Liability of person in respect of income included in the income of another person

Chapter VIAggregation Of Income And Set Off Or Carry Forward Of Loss · A [Substituted by Act 20 of 1967, Section 33 and Schedule III (w.e.f. 1.4.1968).] Deductions To Be Made In Computing Total Income · B Restriction On Certain Deduction In The Case Of Companies

Aggregation Of Income And Set Off Or Carry Forward Of Loss

66Total income
67Method of computing a partner's share in the income of the firm
67A[ Method of computing a member's share in income of association of persons or body of individuals. [ Inserted by Act 3 of 1989, Section 12 (w.e.f. 1.4.1989).]
68Cash credits
69Unexplained investments
69A[ Unexplained money, etc. [Inserted by Act 5 of 1964, Section 16 (w.e.f. 1.4.1964).]
69B[ Amount of investments, etc., not fully disclosed in books of account. [Inserted by Act 10 of 1965, Section 19 (w.e.f. 1.4.1965).]
69C[ Unexplained expenditure, etc. [Inserted by Act 41 of 1975, Section 14 (w.e.f. 1.4.1976).]
69D[ Amount borrowed or repaid on hundi. [Inserted by Act 41 of 1975, Section 14 (w.e.f. 1.4.1976).]
70[ Set off of loss from one source against income from another source under the same head of income. [ Substituted by Act 20 of 2002, Section 27, for Section 70 (w.e.f. 1.4.2003).]
71[ Set off of loss from one head against income from another. [Substituted by Act 49 of 1991, Section 23, for Section 71 (w.e.f. 1.4.1992).]
71A[ Transitional provisions for set off of loss under the head "Income from house property". [ Substituted by Act 32 of 1994, Section 22, for Section 71-A (w.e.f. 1.4.1995).]
71B[ Carry forward and set off of loss from house property. [ Inserted by Act 21 of 1998, Section 26 (w.e.f. 1.4.1999).]
72Carry forward and set off of business losses
72AProvisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in amalgamation or demerger, etc
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. [ Inserted by Act 18 of 2005, Section 19 (w.e.f. 1.4.2005).]
72AB[ Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in business reorganisation of co-operative banks. [ Inserted by Act 22 of 2007, Section 21 (w.e.f. 1.4.2008).]
73Losses in speculation business
73A[ Carry forward and set off of losses by specified business. [ Inserted by Act 33 of 2009, Section 28 (w.e.f. 1.4.2010).]
74[ Losses under the head "Capital gains". [Substituted by Act 11 of 1987, Section 31, for Section 74 (w.e.f. 1.4.1988).]
74ALosses from certain specified sources falling under the head "Income from other sources"
75Losses of firms
78Carry forward and set off of losses in case of change in constitution of firm or on succession
79Carry forward and set off of losses in case of certain companies
79ANo set off of losses consequent to search, requisition and survey
80Submission of return for losses

A [Substituted by Act 20 of 1967, Section 33 and Schedule III (w.e.f. 1.4.1968).] Deductions To Be Made In Computing Total Income

80ADeductions to be made in computing total income
80AAComputation of deduction under section 80-M
80AB[ Deductions to be made with reference to the income included in the gross total income. [Inserted by Act 44 of 1980, Section 12 (w.e.f. 1.4.1981).]
80AC[ Deduction not to be allowed unless return furnished. [Substituted by Finance Act, 2018 (Act No. 13 of 2018), dated 29.3.2018.]
80BDefinitions
80C[ Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc. [Inserted by Act 18 of 2005, Section 21 (w.e.f. 1.4.2006).]
80CCDeduction in respect of investment in certain new shares
80CCA[ Deduction in respect of deposits under National Savings Scheme or payment to a deferred annuity plan. [Substituted by Act 26 of 1988, Section 23, for Section 80-CCA (w.e.f. 1.4.1988).]
80CCB[ Deduction in respect of investment made under Equity Linked Savings Scheme. [Inserted by Act 12 of 1990, Section 17 (w.e.f. 1.4.1991).]
80CCC[ Deduction in respect of contribution to certain pension funds. [Inserted by Act 33 of 1996, Section 23 (w.e.f. 1.4.1997).]
80CCD[ Deduction in respect of contribution to pension scheme of Central Government. [Inserted by Act 23 of 2004, Section 15 (w.e.f. 1.4.2004).]
80CCE[ Limit on deductions under sections 80-C, 80-CCC and 80-CCD. [ Inserted by Act 18 of 2005, Section 24 (w.e.f. 1.4.2006).]
80CCFDeduction in respect of subscription to long-term infrastructure bonds
80CCGDeduction in respect of investment made under an equity savings scheme
80CCHDeduction in respect of contribution to Agnipath Scheme
80D[ Deduction in respect of health insurance premia. [Substituted by Act 18 of 2008, Section 17 (w.e.f. 1.4.2009).]
80DD[ Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability. [Substituted by Act 32 of 2003, Section 34 (w.e.f. 1.4.2004).]
80DDADeduction in respect of deposit made for maintenance of handicapped dependant
80DDB[ Deduction in respect of medical treatment, etc. [ Substituted by Act 32 of 2003, Section 35, for Section 80-DDB (w.e.f. 1.4.2004).]
80E[ Deduction in respect of interest on loan taken for higher education. [ Substituted by Act 18 of 2005, Section 25, for Section 80-E (w.e.f. 1.4.2006).]
80EEDeduction in respect of interest on loan taken for residential house property
80EEADeduction in respect of interest on loan taken for certain house property
80EEBDeduction in respect of purchase of electric vehicle
80GDeduction in respect of donations to certain funds, charitable institutions, etc
80GGDeductions in respect of rents paid
80GGADeduction in respect of certain donations for scientific research or rural development
80GGBDeduction in respect of contributions given by companies to political parties
80GGCDeduction in respect of contributions given by any person to political parties
80HHDeduction in respect of profits and gains from newly established industrial undertakings or hotel business in backward areas
80HHADeduction in respect of profits and gains from newly established small-scale industrial undertakings in certain areas
80HHBDeduction in respect of profits and gains from projects outside India
80HHBADeduction in respect of profits and gains from housing projects in certain cases
80HHCDeduction in respect of profits retained for export business
80HHDDeduction in respect of earnings in convertible foreign exchange
80HHEDeduction in respect of profits from export of computer software, etc
80HHFDeduction in respect of profits and gains from export or transfer of film software, etc
80-IDeduction in respect of profits and gains from industrial undertakings after a certain date, etc
80-IADeductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc
80-IABDeductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone
80-IACSpecial provision in respect of specified business
80-IBDeduction in respect of profits and gains from certain industrial undertakings other than infrastructure development undertakings
80-IBADeductions in respect of profits and gains from housing projects
80-ICSpecial provisions in respect of certain undertakings or enterprises in certain special category States
80-IDDeduction in respect of profits and gains from business of hotels and convention centres in specified area
80-IESpecial provisions in respect of certain undertakings in North-Eastern States
80JJADeduction in respect of profits and gains from business of collecting and processing of bio-degradable waste
80JJAADeduction in respect of employment of new employees
80LADeductions in respect of certain incomes of Offshore Banking Units and International Financial Services Centre
80MDeduction in respect of certain inter-corporate dividends
80-ODeduction in respect of royalties, etc., from certain foreign enterprises
80PDeduction in respect of income of co-operative societies
80PADeduction in respect of certain income of Producer Companies
80QDeduction in respect of profits and gains from the business of publication of books
80QQADeduction in respect of professional income of authors of text books in Indian languages
80QQBDeduction in respect of royalty income, etc., of authors of certain books other than text-books
80RDeduction in respect of remuneration from certain foreign sources in the case of professors, teachers, etc
80RRDeduction in respect of professional income from foreign sources in certain cases
80RRADeduction in respect of remuneration received for services rendered outside India
80RRBDeduction in respect of royalty on patents
80TTADeduction in respect of interest on deposits in savings account
80TTBDeduction in respect of interest on deposits in case of senior citizens
80UDeduction in case of a person with disability

B Restriction On Certain Deduction In The Case Of Companies

80VVARestriction on certain deduction in the case of Companies

Chapter VIIIncome Forming Part Of Total Income On Which No Income-Tax Is Payable

81Income of co-operative societies
82Dividends from co-operative society
83Income of marketing society
84Income of newly established industrial undertakings or hotels
85Dividend from new industrial undertaking or hotel
85ADeduction of tax on inter-corporate dividends
85BDeduction of tax on dividends received from certain foreign companies
85CDeduction of tax on royalties, etc., received from certain foreign companies
86[ Share of member of an association of persons or body of individuals in the income of the association or body. [ Substituted by Act 18 of 1992, Section 49, for Section 86 (w.e.f. 1.4.1993).]
86ADeduction from tax on certain securities

Chapter VIII[Rebates AND Reliefs] [ Substituted by Act 12 of 1990, Section 30, for " Relief in respect of Income-Tax" (w.e.f. 1.4.1991).]

87Rebate to be allowed in computing income-tax
87ARebate on educational expenses in certain cases
88[ Rebate on life insurance premia, contribution to provident fund, etc. [Inserted by Act 12 of 1990, Section 30 (w.e.f. 1.4.1991).]
88ARebate in respect of investment in certain new shares or units
88BRebate of income-tax in case of individuals of sixty-five years or above
88CRebate of income-tax in case of women below sixty-five years
88DRebate of income-tax in case of certain individuals
88E[ Rebate in respect of securities transaction tax. [Inserted by Act 23 of 2004, Section 23 (w.e.f. 1.4.2005).]
89[ Relief when salary, etc., is paid in arrears or in advance. [ Substituted by Act 20 of 2002, Section 38, for Section 89 (w.r.e.f. 1.4.1996).]
89ARelief from taxation in income from retirement benefit account maintained in a notified country

Chapter IXDouble Taxation Relief

90[ Agreement with foreign countries or specified territories. [ Substituted by Act 33 of 2009, Section 40, for Section 90 (w.e.f. 1.10.2009).]
90A[ Adoption by Central Government of agreement between specified associations for double taxation relief. [ Inserted by Act 21 of 2006, Section 20 (w.e.f. 1.6.2006).]
91Countries with which no agreement exists

Chapter XSpecial Provisions Relating To Avoidance Of Tax

92[ Computation of income from international transaction having regard to arm's length price. [ Substituted by Act 14 of 2001, Section 49 (w.e.f. 1.4.2002).]
92AMeaning of associated enterprise
92BMeaning of international transaction
92BAMeaning of specified domestic transaction
92CComputation of arm's length price
92CA[ Reference to Transfer Pricing Officer. [Inserted by Act 20 of 2002, Section 42 (w.e.f. 1.6.2002).]
92CB[ Power of Board to make safe harbour rules. [ Inserted by Act 33 of 2009, Section 42 (w.e.f. 1.4.2009).]
92CCAdvance pricing agreement
92CDEffect to advance pricing agreement
92CESecondary adjustment in certain cases
92DMaintenance and keeping of information and document by persons entering into an international transaction
92EReport from an accountant to be furnished by persons entering into international transaction
92FDefinitions of certain terms relevant to computation of arm's length price, etc
93Avoidance of income-tax by transactions resulting in transfer of income to non-residents
94Avoidance of tax by certain transactions in securities
94ASpecial measures in respect of transactions with persons located in notified jurisdictional area
94BLimitation on interest deduction in certain cases

Chapter XIAdditional Income-Tax On Undistributed Profits

95Charge of Super-tax
96Total income for Super-tax
97Applicability of Act to Super-tax
98Avoidance of Super-tax
99Income not chargeable to Super-tax
100Donations for charitable purposes
101Newly established industrial undertakings or hotels
102Share from registered Firm
103Relief for salary, etc., received in arrear, etc
104Income-tax on undistributed income of certain companies
105Special provisions for certain companies
106Period of limitation for making orders under section 104
107Approval of Inspecting Assistant Commissioner for orders under section 104
108Savings for company in which public are substantially interested
109"Distributable income", "investment company" and "statutory percentage" defined

Chapter XIIDetermination Of Tax In Certain Special Cases · A [ Inserted by Act 11 of 1983, Section 36 (w.e.f. 1.6.1983).] Special Provisions Relating To Certain Incomes Of Non-Residents · B [ Inserted by Act 11 of 1987, Section 43 (w.e.f. 1.4.1988).] Special Provisions Relating To Certain Companies · [Inserted by Act 8 of 2011, section 19 (w.e.f. 1-4-2012).] Special Provisions Relating To Certain [Persons Other Than A Company] [Substituted by Act 23 of 2012, section 49, for 'Limited Liability Parterships' (w.e.f. 1-4-2013).] · [Inserted by Act 23 of 2012, section 55 (w.e.f. 1-4-2013).] Special Provisions Relating To Conversion of Indian Branch of A Foreign Bank Into A Subsidiary Company · [Inserted by Act 23 of 2012, section 55 (w.e.f. 1-4-2013).] Special Provisions Relating To Foreign Company Said To Be Resident In India · C Special Provisions Relating To Retail Trade, Etc. · D [ Inserted by Act 26 of 1997, Section 40 (w.e.f. 1.6.1997).] Special Provisions Relating To Tax On Distributed Profits Of Domestic Companies · E [ Inserted by Act 27 of 1999, Section 61 (w.e.f. 1.6.1999).] Special Provisions Relating To Tax On Distributed Income · Special Provisions Relating to Tax on Distributed Income by Securitisation Trusts · Special Provisions Relating to Tax on Accreted Incomeof Certain Trusts and Institutions · F [ Inserted by Act 10 of 2000, Section 57 (w.e.f. 1.4.2001).] Special Provisions Relating To Tax On Income Received From Venture Capital Companies And Venture Capital Funds · FA [Inserted by Finance (No. 2) Act, 2014 (No. 25 of 2014 ), dated 6.8.2014.] Special Provisions Relating To Business Trusts · FB [Inserted by Finance Act,2015 (No. 20 of 2015), dated 14.5.2015.] Special Provisions Relating to Tax on Income of Investment Funds and Income Received From Such Funds · G [ Inserted by Act 23 of 2004, Section 30 (w.e.f. 1.4.2005).] Special Provisions Relating To Income Of Shipping Companies · H [ Inserted by Act 18 of 2005, Section 37 (w.e.f. 1.4.2006).] Income-Tax On Fringe Benefits

Determination Of Tax In Certain Special Cases

110[ Determination of tax where total income includes income on which no tax is payable. [ Substituted by Act 10 of 1965, Section 32, for Section 110 (w.r.e.f. 1.4.1965).]
111Tax on accumulated balance of recognised provident fund
111A[ Tax on short-term capital gains in certain cases. [Inserted by Act 23 of 2004, Section 26 (w.e.f. 1.4.2005).]
112[ Tax on long-term capital gains. [Inserted by Act 18 of 1992, Section 53 (w.e.f. 1.4.1993).]
112ATax on long-term capital gains in certain cases
113[ Tax in the case of block assessment of search cases. [ Inserted by Act 22 of 1995, Section 24 (w.e.f. 1.7.1995).]
114Tax on capital gains in cases of assessees other than companies
115Tax on capital gains in case of companies
115A[ Tax on dividends, royalty and technical service fees in the case of foreign companies. [Inserted by Act 66 of 1976, Section 20 (w.e.f. 1.6.1976).]
115AB[ Tax on income from units purchased in foreign currency or capital gains arising from their transfer. [Inserted by Act 49 of 1991, Section 41 (w.e.f. 1.4.1992).]
115ACTax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer
115ACATax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer
115ADTax 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. [Inserted by Act 66 of 1976, Section 20 (w.e.f. 1.6.1976).]
115BA[ [Tax on income of certain manufacturing domestic companies] [Inserted by Act 28 of 2016, Section 51 (w.e.f. 1-4-2017).]
115BAA[ Tax on income of certain domestic companies. [Inserted by Act No. 46 of 2019, dated 11.12.2019.]
115BABTax on income of new manufacturing domestic companies
115BACTax on income of individuals, Hindu undivided family and others
115BADTax on income of certain resident co-operative societies
115BAETax on income of certain new manufacturing co-operative societies
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. [ Inserted by Act 23 of 1986, Section 26 (w.e.f. 1.4.1987).]
115BBA[ Tax on non-resident sportsmen or sports associations. [ Inserted by Act 36 of 1989, Section 16 (w.e.f. 1.4.1990).]
115BBB[ Tax on income from units of an open-ended equity oriented fund of the Unit Trust of India or of Mutual Funds. [ Inserted by Act 20 of 2002, Section 49 (w.e.f. 1.4.2003).]
115BBC[ Anonymous donations to be taxed in certain cases. [Inserted by Act 21 of 2006, Section 22 (w.e.f. 1.4.2007).]
115BBDTax on certain dividends received from foreign companies
115BBDATax on certain dividends received from domestic companies
115BBETax on income referred to in section 68 or section 69 or section 69A or section 69B or section 69C or section 69D
115BBFTax on income from patent
115BBGTax on income from transfer of carbon credits
115BBHTax on income from virtual digital asset
115BBISpecified income of certain institutions
115BBJTax on winnings from online games

A [ Inserted by Act 11 of 1983, Section 36 (w.e.f. 1.6.1983).] Special Provisions Relating To Certain Incomes Of Non-Residents

115CDefinitions
115DSpecial provision for computation of total income of non-residents
115E[ Tax on investment income and long-term capital gains. [ Substituted by Act 26 of 1997, Section 36, for Section 115-E (w.e.f. 1.4.1998).]
115FCapital gains on transfer of foreign exchange assets not to be charged in certain cases
115GReturn of income not to be filed in certain cases
115HBenefit under Chapter to be available in certain cases even after the assessee becomes resident
115IChapter not to apply if the assessee so chooses

B [ Inserted by Act 11 of 1987, Section 43 (w.e.f. 1.4.1988).] Special Provisions Relating To Certain Companies

115JSpecial provisions relating to certain companies
115JA[ Deemed income relating to certain companies. [Inserted by Act 33 of 1996, Section 39 (w.e.f. 1.4.1997).]
115JAA[ Tax credit in respect of tax paid on deemed income relating to certain companies. [Inserted by Act 26 of 1997, Section 38 (w.e.f. 1.4.1997).]
115JBSpecial provision for payment of tax by certain companies

[Inserted by Act 8 of 2011, section 19 (w.e.f. 1-4-2012).] Special Provisions Relating To Certain [Persons Other Than A Company] [Substituted by Act 23 of 2012, section 49, for 'Limited Liability Parterships' (w.e.f. 1-4-2013).]

115JC[ Special provisions for payment of tax by certain persons other than a company. [Substituted by Act No. 23 of 2012, section 50, for section 115JC (w.e.f. 1-4-2013).]
115JDTax credit for alternate minimum tax
115JEApplication of other provisions of this Act
115JEE[ Application of this Chapter to certain persons. [Inserted by Act No. 23 of 2012, section 53, (w.e.f. 1-4-2013).]
115JFInterpretation in this Chapter

[Inserted by Act 23 of 2012, section 55 (w.e.f. 1-4-2013).] Special Provisions Relating To Conversion of Indian Branch of A Foreign Bank Into A Subsidiary Company

115JGConversion of an Indian branch of foreign company into subsidiary Indian company

[Inserted by Act 23 of 2012, section 55 (w.e.f. 1-4-2013).] Special Provisions Relating To Foreign Company Said To Be Resident In India

115JHForeign company said to be resident in India

C Special Provisions Relating To Retail Trade, Etc.

115KSpecial provision for computation of income in certain cases
115LReturn of income not to be filed in certain cases
115MSpecial provision for disallowance of deductions and rebate of income-tax
115NBar of proceedings in certain cases

D [ Inserted by Act 26 of 1997, Section 40 (w.e.f. 1.6.1997).] Special Provisions Relating To Tax On Distributed Profits Of Domestic Companies

115OTax on distributed profits of domestic companies
115PInterest payable for non-payment of tax by domestic companies
115Q[ ***] [Omitted by Finance Act, 2018 (Act No. 13 of 2018), dated 29.3.2018.]

E [ Inserted by Act 27 of 1999, Section 61 (w.e.f. 1.6.1999).] Special Provisions Relating To Tax On Distributed Income

115RTax on distributed income to unit holders
115SInterest payable for non-payment of tax
115TUnit Trust of India or Mutual Fund to be an assessee in default

Special Provisions Relating to Tax on Distributed Income by Securitisation Trusts

115TATax on distributed income to investors
115TBInterest payable for non-payment of tax
115TCSecuritisation trust to be assessee in default
115TCATax on income from securitisation trusts

Special Provisions Relating to Tax on Accreted Incomeof Certain Trusts and Institutions

115TDTax on accreted income
115TEInterest payable for non-payment of tax by [trust or institution]
115TFWhen [trust or institution] is deemed to be assessee in default

F [ Inserted by Act 10 of 2000, Section 57 (w.e.f. 1.4.2001).] Special Provisions Relating To Tax On Income Received From Venture Capital Companies And Venture Capital Funds

115UTax on income in certain cases

FA [Inserted by Finance (No. 2) Act, 2014 (No. 25 of 2014 ), dated 6.8.2014.] Special Provisions Relating To Business Trusts

115UATax on income of unit holder and business trust

FB [Inserted by Finance Act,2015 (No. 20 of 2015), dated 14.5.2015.] Special Provisions Relating to Tax on Income of Investment Funds and Income Received From Such Funds

115UBTax on income of investment fund and its unit holders

G [ Inserted by Act 23 of 2004, Section 30 (w.e.f. 1.4.2005).] Special Provisions Relating To Income Of Shipping Companies

115VDefinitions
115VAComputation of profits and gains from the business of operating qualifying ships
115VBOperating ships
115VCQualifying company
115VDQualifying ship
115VEManner of computation of income under tonnage tax scheme
115VFTonnage income
115VGComputation of tonnage income
115VHCalculation in case of joint operation, etc
115VIRelevant shipping income
115VJTreatment of common costs
115VKDepreciation
115VLGeneral exclusion of deduction and set off, etc
115VMExclusion of loss
115VNChargeable gains from transfer of tonnage tax assets
115VOExclusion from provisions of section 115-JB
115VPMethod and time of opting for tonnage tax scheme
115VQPeriod for which tonnage tax option to remain in force
115VRRenewal of tonnage tax scheme
115VSProhibition to opt for tonnage tax scheme in certain cases
115VTTransfer of profits to Tonnage Tax Reserve Account
115VUMinimum training requirement for tonnage tax company
115VVLimit for charter in of tonnage
115VWMaintenance and audit of accounts
115VXDetermination of tonnage
115VYAmalgamation
115VZDemerger
115VZAEffect of temporarily ceasing to operate qualifying ships
115VZBAvoidance of tax
115VZCExclusion from tonnage tax scheme

H [ Inserted by Act 18 of 2005, Section 37 (w.e.f. 1.4.2006).] Income-Tax On Fringe Benefits

115WDefinitions
115WACharge of fringe benefit tax
115WBFringe benefits
115WCValue of fringe benefits
115WDReturn of fringe benefits
115WEAssessment
115WFBest judgment assessment
115WGFringe benefits escaping assessment
115WHIssue of notice where fringe benefits have escaped assessment
115WIPayment of fringe benefit tax
115WJAdvance tax in respect of fringe benefits
115WKInterest for default in furnishing return of fringe benefits
115WKA[ Recovery of fringe benefit tax by the employer from the employee. [ Inserted by Act 22 of 2007, Section 41 (w.e.f. 1.4.2007).]
115WKB[ Deemed payment of tax by employee. [ Inserted by Act 18 of 2008, Section 29 (w.e.f. 1.4.2008).]
115WLApplication of other provisions of this Act
115WM[ Chapter XII-H not to apply after a certain date. [ Inserted by Act 33 of 2009, Section 49 (w.e.f. 1.4.2009).]

Chapter XIIIIncome-Tax Authorities

116[ Income-tax authorities. [Substituted by Act 4 of 1988, Section 30, for Section 116 (w.e.f. 1.4.1988).]
117[ Appointment of income-tax authorities.- [Substituted by Act 4 of 1988, Section 30, for Sections 117 and 118 (w.e.f. 1.4.1988).]
118Control of income-tax authorities
119[ Instructions to subordinate authorities. [Substituted by Act 42 of 1970, Section 25, for Section 119 (w.e.f. 1.4.1971).]
119ATaxpayer's Charter
120[ Jurisdiction of income-tax authorities. [Substituted by Act 4 of 1988, Section 32, for Section 120 (w.e.f. 1.4.1988).]
121Jurisdiction of Commissioners
121AJurisdiction of Commissioners (Appeals)
122Jurisdiction of Appellate Assistant Commissioners
123Jurisdiction of Inspecting Assistant Commissioners
124[ Jurisdiction of Assessing Officers. [Substituted by Act 4 of 1988, Section 34, for Section 124 (w.e.f. 1.4.1988).]
125Powers of Commissioner respecting specified areas, cases, persons, etc
125AConcurrent jurisdiction of Inspecting Assistant Commissioner and Income-tax Officer
126Powers of Board respecting specified area, classes of persons or incomes
127[ Powers to transfer cases.-( [ Substituted by Act 41 of 1975, Section 32 (w.e.f. 1.10.1975).]
128Functions of Inspectors of Income-tax
129Change of incumbent of an office
130Commissioner competent to perform any function or functions
130AIncome-tax Officer competent to perform any function or functions
131Power regarding discovery, production of evidence, etc
132[ Search and seizure. [Substituted by Act 1 of 1965, Section 2, for Section 132 (w.e.f. 12.3.1965).]
132APowers to requisition books of account, etc
132BApplication of seized or requisitioned assets
133Power to call for information
133APower of survey
133BPower to collect certain information
133CPower to call for information by prescribed income-tax authority
134Power to inspect registers of companies
135Power 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
135AFaceless collection of information
136Proceedings before income-tax authorities to be judicial proceedings
138Disclosure of information respecting assessees

Chapter XIVProcedure For Assessment · A [ Inserted by Act 67 of 1984, Section 31 (w.e.f. 1.10.1984).] Special Provision For Avoiding Repetitive Appeals · B [ Inserted by Act 22 of 1995, Section 32 of (w.e.f. 1.7.1995).] Special Procedure For Assessment Of Search Cases

Procedure For Assessment

139Return of income
139A[ Permanent account number. [Substituted by Act 22 of 1995, Section 30, for Section 139-A (w.e.f. 1.7.1995).]
139AA[ Quoting of Aadhaar number. [Inserted by Act 7 of 2017, section 56 (w.e.f. 1-4-2017).]
139BScheme for submission of returns through Tax Return Preparers
139C[ Power of Board to dispense with furnishing documents, etc., with return. [ Inserted by Act 22 of 2007, Section 45 (w.r.e.f. 1.6.2006).]
139DFiling of return in electronic form
140Return by whom to be signed
140A[ Self-assessment. [Substituted by Act 42 of 1970, Section 27, for Section 140-A (w.e.f. 1.4.1971).]
140BTax on updated return
141Provisional assessment
141AProvisional assessment for refund
142Inquiry before assessment
142A[ Estimate by Valuation Officer in certain cases. [ Inserted by Act 23 of 2004, Section 34 (w.r.e.f. 15.11.1972).]
142BFaceless inquiry or Valuation
143Assessment
144Best judgment assessment
144A[ Power of ] [ Inserted by Act 41 of 1975, Section 45 (w.e.f. 1.4.1976).][Joint Commissioner] [ Substituted by Act 21 of 1998, Section 3, for " Deputy Commissioner" (w.e.f. 1.10.1998).][to issue directions in certain cases.- ] [ Inserted by Act 41 of 1975, Section 45 (w.e.f. 1.4.1976).]
144BReference to Deputy Commissioner in certain cases
144BA[ Reference to [Principal Commissioner or Commissioner] [Inserted by Act 17 of 2013, section 39 (w.e.f. 1-4-2016).] in certain cases
144C[ Rererence to dispute resolution panel. [ Inserted by Act 33 of 2009, Section 56 (w.e.f. 1.4.2009).]
145[ Method of accounting. [ Substituted by Act 22 of 1995, Section 31, for Section 145 (w.e.f. 1.4.1997).]
145AMethod of accounting in certain cases
145BTaxability of certain income
147Income escaping assessment
147AAssessing Officer for purposes of sections 148 and 148A
148Issue of notice where income has escaped assessment
148AProcedure before issuance of notice under section 148
148BPrior approval for assessment, reassessment or recomputation in certain cases
149Time limit for notices under sections 148 and 148A
150Provision for cases where assessment is in pursuance of an order on appeal, etc
151Sanction for issue of notice
151AFaceless assessment of income escaping assessment
152Other provisions
153Time limit for completion of assessment, reassessment and recomputation
153AAssessment in case of search or requisition
153BTime limit for completion of assessment under section 153A
153CAssessment of income of any other person
153DPrior approval necessary for assessment in cases of search or requisition
154Rectification of mistake
155Other amendments
156Notice of demand
156AModification and revision of notice in certain cases
157Intimation of loss
157AFaceless rectification, amendments and issuance of notice or intimation
158Intimation of assessment of firm

A [ Inserted by Act 67 of 1984, Section 31 (w.e.f. 1.10.1984).] Special Provision For Avoiding Repetitive Appeals

158AProcedure 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. [Substituted by Finance Act, 2015 (No. 20 of 2015), dated 14.5.2015.]
158ABProcedure where an identical question of law is pending before High Courts or Supreme Court

B [ Inserted by Act 22 of 1995, Section 32 of (w.e.f. 1.7.1995).] Special Procedure For Assessment Of Search Cases

158BDefinitions
158BAAssessment of undisclosed income as a result of search
158BBComputation of undisclosed income of the block period
158BCProcedure for block assessment
158BDUndisclosed income of any other person
158BETime-limit for completion of block assessment
158BFCertain interests and penalties not to be levied or imposed
158BFA[ Levy of interest and penalty in certain cases. [Inserted by Act 14 of 1997, Section 6 (w.r.e.f. 1.1.1997).]
158BG[ Authority competent to make the block assessment. [Substituted by Act 14 of 1997, Section 7, for Section 158-BG (w.r.e.f. 1.1.1997).]
158BHApplication of other provisions of this Act
158BI[ Chapter not to apply after certain date. [ Inserted by Act 32 of 2003, Section 67 (w.e.f. 1.6.2003).]

Chapter XVLiability In Special Cases

159Legal representatives
160Representative assessee
161Liability of representative assessee
162Right of representative assessee to recover tax paid
163Who may be regarded as agent
164[ Charge of tax where share of beneficiaries unknown. [Substituted by Act 19 of 1970, Section 21, for Section 164 (w.e.f. 1.4.1971).]
164A[ Charge of tax in case of oral trust. [Inserted by Act 16 of 1981, Section 15 (w.r.e.f. 1.4.1981).]
165Case where part of trust income is chargeable
166Direct assessment or recovery not barred
167Remedies against property in cases of representative assessees
167A[ Charge of tax in the case of a firm. [ Inserted by Act 18 of 1992, Section 64 (w.e.f. 1.4.1993).]
167B[ Charge of tax where shares of members in association of persons or body of individuals unknown, etc. [Inserted by Act 3 of 1989, Section 28 (w.e.f. 1.4.1989).]
167C[ Liability of partners of limited liability partnership in liquidation. [ Inserted by Act 33 of 2009, Section 59 (w.e.f. 1.4.2010).]
168Executors
169Right of executor to recover tax paid
170Succession to business otherwise than on death
170AEffect of order of tribunal or court in respect of business reorganisation
171Assessment after partition of a Hindu undivided family
172Shipping business of non-residents
173Recovery of tax in respect of non-resident from his assets
174Assessment of persons leaving India
174AAssessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose
175Assessment of persons likely to transfer property to avoid tax
176Discontinued business
177Association dissolved or business discontinued
178Company in liquidation
179Liability of directors of private company
180Royalties or copyright fees for literary or artistic work
180AConsideration for know-how

Chapter XVISpecial Provisions Applicable To Firms

182Assessment of registered firms
183Assessment of unregistered firms
184[ Assessment as a firm. [Substituted by Act 18 of 1992, Section 66, for sub-heading " B.-Registration of firms" occurring before Section 184 and Sections 184 to 186 (w.e.f. 1.4.1993).]
185[ Assessment when section 184 not complied with. [ Substituted by Act 32 of 2003, Section 70, for Section 185 (w.e.f. 1.4.2004).]
186Cancellation of registration
187Change in constitution of a firm
188Succession of one firm by another firm
188A[ Joint and several liability of partners for tax payable by firm. [ Inserted by Act 4 of 1988, Section 70 (w.e.f. 1.4.1989).]
189Firm dissolved or business discontinued
189A[ Provisions applicable to past assessments of firms. [ Inserted by Act 18 of 1992, Section 69 (w.e.f. 1.4.1993).]

Chapter XVIICollection And Recovery Of Tax

190Deduction at source and advance payment
191Direct payment
192Salary
192A[ Payment of accumulated balance due to an employee. [Inserted by Finance Act, 2015 (No. 20 of 2015), dated 14.5.2015.]
193Interest on securities
194Dividends
194AInterest other than "Interest on securities"
194B[ Winnings from lottery or crossword puzzle. [Inserted by Act 16 of 1972, Section 28 (w.r.e.f. 1.4.1972).]
194BAWinnings from online games
194BB[ Winnings from horse race. [ Inserted by Act 19 of 1978, Section 21 (w.r.e.f. 1.4.1978).]
194C[ Payments to contractors. [Substituted by Act 33 of 2009, Section 61, for Section 194-C (w.e.f. 1.10.2009).]
194D[ Insurance commission. [ Inserted by Act 21 of 1973, Section 17 (w.r.e.f. 1.4.1973).]
194DAPayment in respect of life insurance policy
194E[ Payments to non-resident sportsmen or sports associations. [ Inserted by Act 36 of 1989, Section 22 (w.e.f. 1.11.1989).]
194EE[ Payments in respect of deposits under National Savings Scheme, etc. [ Inserted by Act 49 of 1991, Section 54 (w.e.f. 1.10.1991).]
194F[ Payments on account of repurchase of units by Mutual Fund or Unit Trust of India. [ Inserted by Act 12 of 1990, Section 40 (w.e.f. 1.4.1991).]
194G[ Commission, etc., on the sale of lottery tickets. [Inserted by Act 49 of 1991, Section 55 (w.e.f. 1.10.1991).]
194H[ Commission or brokerage. [Inserted by Act 14 of 2001, Section 71 (w.e.f. 1.6.2001).]
194I[ Rent. [Inserted by Act 32 of 1994, Section 40 (w.e.f. 1.6.1994).]
194IAPayment on transfer of certain immovable property other than agricultural land
194IBPayment of rent by certain individuals or Hindu undivided family
194ICPayment under specified agreement
194JFees for professional or technical services
194KIncome in respect of units
194LAPayment of compensation on acquisition of certain immovable property
194LBIncome by way of interest from infrastructure debt fund
194LBACertain income from units of a business trust
194LBBIncome in respect of units of investment fund
194LBCIncome in respect of investment in securitization trust
194LCIncome by way of interest from Indian company
194LDIncome by way of interest on certain bonds and Government securities
194MPayment of certain sums by certain individuals or Hindu undivided family
194NPayment of certain amounts in cash
194-OPayment of certain sums by e-commerce operator to e-commerce participant
194PDeduction of tax in case of specified senior citizen
194QDeduction of tax at source on payment of certain sum for purchase of goods
194RDeduction of tax on benefit or perquisite in respect of business or profession
194SPayment on transfer of virtual digital asset
194TPayments to partners of firms
195Other sums
195AIncome payable "net of tax"
196Interest or dividend or other sums payable to Government, Reserve Bank or certain corporations
196AIncome in respect of units of non-residents
196BIncome from units
196CIncome from foreign currency bonds or shares of Indian company
196DIncome of Foreign Institutional Investors from securities
197Certificate for deduction at lower rate
197ANo deduction to be made in certain cases
197BLower deduction in certain cases for a limited period
198Tax deducted is income received
199Credit for tax deducted
200Duty of person deducting tax
200Aand other statements
201Consequences of failure to deduct or pay
202Deduction only one mode of recovery
203Certificate for tax deducted
203ATax deduction and collection account number
204Meaning of "person responsible for paying"
205Bar against direct demand on assessee
206Persons deducting tax to furnish prescribed returns
206AFurnishing of statement in respect of payment of any income to residents without deduction of tax
206AARequirement to furnish Permanent Account Number
206CProfits and gains from the business of trading in alcoholic liquor, forest produce, scrap, etc
206CATax collection account number
206CBProcessing of statements of tax collected at source
206CCRequirement to furnish Permanent Account number by collectee
207Liability for payment of advance tax
208Conditions of liability to pay advance tax
209Computation of advance tax
210Payment of advance tax by the assessee of his own accord or in pursuance of order of Assessing Officer
211Instalments of advance tax and due dates
214Interest payable by Government
215Interest payable by assessee
216Interest payable by assessee in case of under-estimate, etc
217Interest payable by assessee when no estimate made
218When assessee deemed to be in default
219Credit for advance tax
220When tax payable and when assessee deemed in default
221Penalty payable when tax in default
222Certificate to Tax Recovery Officer
223Tax Recovery Officer by whom recovery is to be effected
224Validity of certificate and cancellation or amendment thereof
225Stay of proceedings in pursuance of certificate and amendment or cancellation thereof
226Other modes of recovery
227Recovery through State Government
228ARecovery of tax in pursuance of agreements with foreign countries
229Recovery of penalties, fine, interest and other sums
230Tax clearance certificate
231Faceless collection and recovery of tax
232Recovery by suit or under other law not affected
234AInterest for defaults in furnishing return of income
234BInterest for defaults in payment of advance tax
234CInterest for deferment of advance tax
234DInterest on excess refund
234EFee for default in furnishing statements
234FFee for default in furnishing return of income
234GFee for default relating to statement or certificate
234HFee for default relating to intimation of Aadhaar number
234-IFee for furnishing revised return of income

Chapter XVIIIRelief Respecting Tax On Dividends In Certain Cases

235Relief to shareholders in respect of agricultural income-tax attributable to dividends
236Relief to company in respect of dividend paid out of past taxed profits
236A[ Relief to certain charitable institutions or funds in respect of certain dividends. [ Inserted by Act 31 of 1964, Section 11 (w.e.f. 1.4.1964).]

Chapter XIXRefunds · A [ Inserted by Act 41 of 1975, Section 57 (w.e.f. 1.4.1976).] Settlement Of Cases · (Aa) - Dispute Resolution Committee in Certain Cases · B [ Inserted by Act 38 of 1993, Section 31 (w.e.f. 1.6.1993).] Advance Rulings

Refunds

237Refunds
238Person entitled to claim refund in certain special cases
239Form of claim for refund and limitation
239ARefund for denying liability to deduct tax in certain cases
240Refund on appeal, etc
241AWithholding of refund in certain cases
241Power to withhold refund in certain cases
242Correctness of assessment not to be questioned
243Interest on delayed refunds
244Interest on refund where no claim is needed
244A[ Interest on refunds. [Inserted by Act 4 of 1988, Section 98 (w.e.f. 1.4.1989).]
245Set off of refunds against tax remaining payable

A [ Inserted by Act 41 of 1975, Section 57 (w.e.f. 1.4.1976).] Settlement Of Cases

245ADefinitions
245AAInterim Boards for Settlement
245BIncome-tax Settlement Commission
245BA[ Jurisdiction and powers of Settlement Commission. [Inserted by Act 11 of 1987, Section 59 (w.e.f. 1.6.1987).]
245BB[ Vice-Chairman to act as Chairman or to discharge his functions in certain circumstances. [ Inserted by Act 11 of 1987, Section 59 (w.e.f. 1.6.1987).]
245BCPower of Chairman to transfer cases from one Bench to another
245BDDecision to be by majority
245CApplication for settlement of cases
245DProcedure on receipt of an application under section 245C
245DDPower of Settlement Commission to order provisional attachment to protect revenue
245EPower of Settlement Commission to reopen completed proceedings
245FPowers and procedure of Settlement Commission
245GInspection, etc., of reports
245HPower of Settlement Commission to grant immunity from prosecution and penalty
245HA[ Abatement of proceeding before Settlement Commission. [ Inserted by Act 22 of 2007, Section 69 (w.e.f. 1.6.2007).]
245HAACredit for tax paid in case of abatement of proceedings
245IOrder of settlement to be conclusive
245JRecovery of sums due under order of settlement
245K[ Bar on subsequent application for settlement. [ Substituted by Act 22 of 2007, Section 70, for Section 245-K (w.e.f. 1.6.2007).]
245LProceedings before Settlement Commission to be judicial proceedings
245MOption to withdraw pending application

(Aa) - Dispute Resolution Committee in Certain Cases

245MADispute Resolution Committee

B [ Inserted by Act 38 of 1993, Section 31 (w.e.f. 1.6.1993).] Advance Rulings

245NDefinitions
245OAuthority for Advance Rulings
245-OAQualifications, terms and conditions of service of Chairman, Vice-Chairman and Member
245OBBoard for Advance Rulings
245PVacancies, etc., not to invalidate proceedings
245QApplication for advance ruling
245RProcedure on receipt of application
245RR[ Appellate authority not to proceed in certain cases. [ Inserted by Act 21 of 1998, Section 48 (w.e.f. 1.10.1998).]
245SApplicability of advance ruling
245TAdvance ruling to be void in certain circumstances
245UPowers of the Authority
245VProcedure of Authority
245WAppeal

Chapter XXAppeals And Revision · A [ Inserted by Act 45 of 1972, Section 4 (w.e.f. 15.11.1972).] Acquisition Of Immovable Properties In Certain Cases Of Transfer To Counteract Evasion Of Tax · B [ Inserted by Act 38 of 1981, Section 2 (w.r.e.f. 11.7.1981).] Requirement As To [Mode Of Acceptance, Payment Or Repayment] [ Substituted By Act 21 Of 1984, Section 28, For &Quot; Mode Of Repayment&Quot; (W.r.e.f. 1.4.1984).] In Certain Cases To Counteract Evasion Of Tax · C [ Inserted by Act 23 of 1986, Section 34 (w.e.f. 1.10.1986).] Purchase By Central Government Of Immovable Properties In Certain Cases Of Transfer

Appeals And Revision

246[ Appealable orders. [Substituted by Act 4 of 1988, Section 99, for Section 246 (w.e.f. 1.4.1989).]
246A[ Appealable orders before Commissioner (Appeals). [Inserted by Act 21 of 1998, Section 49 (w.e.f. 1.10.1998).]
247Appeal by partner
248Appeal by a person denying liability to deduct tax in certain cases. [ Substituted by Act 22 of 2007, Section 72 for Section 248 (w.e.f. 1.6.2007).]
249Form of appeal and limitation
250Procedure in appeal
251Powers of the [* * *] [ Omitted by Act 21 of 1998, Section 65 (w.e.f. 1.10.1998).] [Commissioner (Appeals)] [ Inserted by Act 29 of 1977, Section 39 and Schedule V (w.e.f. 10.7.1978).]
252Appellate Tribunal
252AQualifications, terms and conditions of service of President, Vice-President and Member
253Appeals to the Appellate Tribunal
254Orders of Appellate Tribunal
255Procedure of Appellate Tribunal
256Statement of case to the High Court
257Statement of cases to the Supreme Court in certain cases
258Power of High Court or Supreme Court to require statement to be amended
259Case before High Court to be heard by not less than two judges
260[ Effect to the decisions of Supreme Court and of the National Tax Tribunal. [ Substituted by Act 49 of 2005, Section 30 and Schedule, for Section 260 (w.e.f. 28.12.2005).]
260A[ Appeal to High Court. [Inserted by Act 21 of 1998, Section 58 (w.e.f. 1.10.1998).]
260B[ Case before High Court to be heard by not less than two Judges. [ Inserted by Act 21 of 1998, Section 58 (w.e.f. 1.10.1998).]
261Appeal to Supreme Court
262Hearing before Supreme Court
263Revision of orders prejudicial to revenue
264Revision of other orders
264AFaceless revision of orders
264BFaceless effect of orders
265Tax to be paid notwithstanding reference, etc
266Execution for costs awarded by Supreme Court
267Amendment of assessment on appeal
268Exclusion of time taken for copy
268AFiling of appeal or application for reference by income-tax authority
269Definition of "High Court"

A [ Inserted by Act 45 of 1972, Section 4 (w.e.f. 15.11.1972).] Acquisition Of Immovable Properties In Certain Cases Of Transfer To Counteract Evasion Of Tax

269ADefinitions
269AB[ Registration of certain transactions. [Inserted by Act 22 of 1981, Section 3 (w.e.f. 1.7.1982).]
269BCompetent authority
269CImmovable property in respect of which proceedings for acquisition may be taken
269DPreliminary notice
269EObjections
269FHearing of objections
269GAppeal against order for acquisition
269HAppeal to High Court
269IVesting of property in Central Government
269JCompensation
269KPayment or deposit of compensation
269LAssistance by Valuation Officers
269MPowers of competent authority
269NRectification of mistakes
269OAppearance by authorised representative or registered valuer
269PStatement to be furnished in respect of transfers of immovable property
269QChapter not to apply to transfers to relatives
269RProperties 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. [Inserted by Act 23 of 1986, Section 33 (w.e.f. 1.10.1986).]

B [ Inserted by Act 38 of 1981, Section 2 (w.r.e.f. 11.7.1981).] Requirement As To [Mode Of Acceptance, Payment Or Repayment] [ Substituted By Act 21 Of 1984, Section 28, For &Quot; Mode Of Repayment&Quot; (W.r.e.f. 1.4.1984).] In Certain Cases To Counteract Evasion Of Tax

269SS[ Mode of taking or accepting certain loans, deposits and specified sum. [Substituted by Finance Act, 2015 (No. 20 of 2015), dated 14.5.2015.]
269STMode of undertaking transactions
269SUAcceptance of payment through prescribed electronic modes
269T[ Mode of repayment of certain loans or deposits. [Substituted by Act 20 of 2002, Section 99, for Section 269-T (w.e.f. 1.6.2002).]
269TT[ Mode of repayment of Special Bearer Bonds, 1991. [Inserted by Act 38 of 1981, Section 3 (w.e.f. 19.9.1981).]

C [ Inserted by Act 23 of 1986, Section 34 (w.e.f. 1.10.1986).] Purchase By Central Government Of Immovable Properties In Certain Cases Of Transfer

269UCommencement of Chapter
269UADefinitions
269UBAppropriate authority
269UCRestrictions on transfer of immovable property
269UDOrder by appropriate authority for purchase by Central Government of immovable property
269UEVesting of property in Central Government
269UFConsideration for purchase of immovable property by Central Government
269UGPayment or deposit of consideration
269UHRe-vesting of property in the transferor on failure of payment or deposit of consideration
269UIPowers of the appropriate authority
269UJRectification of mistakes
269UKRestrictions on revocation or alteration of certain agreements for the transfer of immovable property or on transfer of certain immovable property
269ULRestrictions on registration, etc., of documents in respect of transfer of immovable property
269UMImmunity to transferor against claims of transferee for transfer
269UNOrder of appropriate authority to be final and conclusive
269UOChapter not to apply to certain transfers
269UP[ Chapter not to apply where transfer of immovable property effected after certain date. [ Inserted by Act 20 of 2002, Section 100 (w.e.f. 1.7.2002).]

Chapter XXIPenalties Imposable

270Failure to furnish information regarding securities, etc
270APenalty for under-reporting and misreporting of income
270AAImmunity from imposition of penalty, etc
271Failure to furnish returns, comply with notices, concealment of income, etc. [Substituted by Act 4 of 1988, Section 106 (w.e.f. 1.4.1989).]
271A[ Failure to keep, maintain or retain books of account, documents, etc. [Inserted by Act 41 of 1975, Section 62 (w.e.f. 1.4.1976).]
271AA[ Penalty for failure to keep and maintain information and document in respect of international transaction. [ Inserted by Act 14 of 2001, Section 88 (w.e.f. 1.4.2002).]
271AAA[ Penalty where search has been initiated. [ Inserted by Act 22 of 2007, Section 77 (w.e.f. 1.4.2007).]
271AABPenalty where search has been initiated
271AACPenalty in respect of certain income
271AADPenalty for false entry, etc., in books of account
271AAEBenefits to related persons
271B[ Failure to get accounts audited. [Inserted by Act 21 of 1984, Section 30 (w.e.f. 1.4.1985).]
271BA[ Penalty for failure to furnish report under section 92-E. [ Inserted by Act 14 of 2001, Section 89 (w.e.f. 1.4.2002).]
271BB[ Failure to subscribe to the eligible issue of capital. [Inserted by Act 12 of 1990, Section 43 (w.r.e.f. 1.4.1990).]
271C[ Penalty for failure to deduct tax at source. [ Inserted by Act 4 of 1988, Section 108 (w.e.f. 1.4.1989).]
271CA[ Penalty for failure to collect tax at source. [ Inserted by Act 21 of 2006, Section 52 (w.e.f. 1.4.2007).]
271DPenalty for failure to comply with the provisions of section 269-SS
271DAPenalty for failure to comply with provisions of section 269ST
271DBPenalty for failure to comply with provisions of section 269SU
271EPenalty for failure to comply with the provisions of section 269-T
271F[ Penalty for failure to furnish return of income. [ Substituted by Act 20 of 2002, Section 102 (w.e.f. 1.6.2002).]
271FAPenalty for failure to furnish statement of financial transaction or reportable account
271FAAPenalty for furnishing inaccurate statement of financial transaction or reportable account
271FABPenalty for failure to furnish statement or information or document by an eligible investment fund
271FBPenalty for failure to furnish return of fringe benefits
271GPenalty for failure to furnish information or document under section 92D
271GAPenalty for failure to furnish information or document under section 285A
271GBPenalty for failure to furnish report or for furnishing inaccurate report under section 286
271GCPenalty for failure to submit statement under section 285
271HPenalty for failure to furnish statements, etc
271-IPenalty for failure to furnish information or furnishing inaccurate information under section 195
271JPenalty for furnishing incorrect information in reports or certificates
271KPenalty for failure to furnish statements, etc
272APenalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc
272AAPenalty for failure to comply with the provisions of section 133B
272BPenalty for failure to comply with the provisions of section 139A
272BBPenalty for failure to comply with the provisions of section 203A
272BBBPenalty for failure to comply with the provisions of section 206CA
273False estimate of, or failure to pay, advance tax
273APower to reduce or waive penalty, etc., in certain cases
273AAPower of Principal Commissioner orCommissioner to grant immunity from penalty
273BPenalty not to be imposed in certain cases
274Procedure
275Bar of limitation for imposing penalties

Chapter XXIIOffences And Prosecutions · A Annuity Deposits · B Tax Credit Certificate

Offences And Prosecutions

275A[ Contravention of order made under sub-section (3) of section 132. [Inserted by Act 1 of 1965, Section 4 (w.e.f. 12.3.1965).]
275B[ Failure to comply with the provisions of clause (iib) of sub-section (1) of section 132. [ Inserted by Act 20 of 2002, Section 107 (w.e.f. 1.6.2002).]
276[ Removal, concealment, transfer or delivery of property to thwart tax recovery. [ Inserted by Act 4 of 1988, Section 117 (w.e.f. 1.4.1989).]
276A[ Failure to comply with the provisions of sub-sections (1) and (3) of section 178. [Inserted by Act 10 of 1965, Section 58 (w.r.e.f. 1.4.1965).]
276AAFailure to comply with the provisions of section 269-AB or section 269-I
276AB[ Failure to comply with the provisions of sections 269-UC, 269-UE and 269-UL. [Inserted by Act 23 of 1986, Section 36 (w.e.f. 13.5.1986).]
276B[ Failure to pay tax to the credit of Central Government under Chapter XII-D or XVII-B. [ Substituted by Act 26 of 1997, Section 56, for Section 276-B (w.e.f. 1.6.1997).]
276BB[ Failure to pay the tax collected at source. [ Inserted by Act 26 of 1988, Section 46 (w.e.f. 1.6.1988).]
276CWilful attempt to evade tax, etc.-( [Substituted by Act 41 of 1975, Section 68, for Section 276-C (w.e.f. 1.10.1975).]
276CC[ Failure to furnish returns of income. [Inserted by Act 41 of 1975, Section 68 (w.e.f. 1.10.1975).]
276CCC[ Failure to furnish return of income in search cases. [ Inserted by Act 14 of 1997, Section 10 (w.r.e.f. 1.1.1997).]
276D[ Failure to produce accounts and documents. [ Inserted by Act 42 of 1970, Section 52 (w.e.f. 1.4.1971).]
276DDFailure to comply with the provisions of section 269-SS
276EFailure to comply with the provisions of section 269-T
277[ False statement in verification, etc. [ Substituted by Act 41 of 1975, Section 70, for Section 277 (w.e.f. 1.10.1975).]
277A[ Falsification of books of account or document, etc. [ Inserted by Act 23 of 2004, Section 60 (w.e.f. 1.10.2004).]
278[ Abetment of false return, etc. [Substituted by Act 41 of 1975, Section 70, for Section 278 (w.e.f. 1.10.1975).]
278APunishment for second and subsequent offences. [Inserted by Act 41 of 1975, Section 70 (w.e.f. 1.10.1975).]
278AAPunishment not to be imposed in certain cases. [Inserted by Act 46 of 1986, Section 28 (w.e.f. 10.9.1986).]
278AB[ Power of Commissioner to grant immunity from prosecution. [ Inserted by Act 18 of 2008, Section 54 (w.e.f. 1.4.2008).]
278BOffences by companies
278COffences by Hindu undivided families
278DPresumption as to assets, books of account, etc., in certain cases
278EPresumption as to culpable mental state
279Prosecution to be at instance of Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner
279ACertain offences to be non-cognizable
279BProof of entries in records or documents
280Disclosure of particulars by public servants

A Annuity Deposits

280ASection 280A
280BSection 280B
280CSection 280C
280DSection 280D
280ESection 280E
280FSection 280F
280GSection 280G
280HSection 280H
280ISection 280I
280JSection 280J
280KSection 280K
280LSection 280L
280MSection 280M
280NSection 280N
280OSection 280O
280PSection 280P
280QSection 280Q
280RSection 280R
280SSection 280S
280TSection 280T

B Tax Credit Certificate

280YSection 280Y
280ZSection 280Z
280ZESection 280ZE

Chapter XXIIIMiscellaneous

281[ Certain transfers to be void. [Substituted by Act 41 of 1975, Section 73, for Section 281 (w.e.f. 1.10.1975).]
281AEffect of failure to furnish information in respect of properties held benami
281BProvisional attachment to protect revenue in certain cases
282[ Service of notice generally. [ Substituted by Act 33 of 2009, Section 77 (w.e.f. 1.10.2009).]
282A[ Authentication of notices and other documents. [ Inserted by Act 18 of 2008, Section 55 (w.e.f. 1.6.2008).]
282B[ Allotment of Document Identification Number. [ Inserted by Act 33 of 2009, Section 78 (w.e.f. 1.10.2010).]
283Service of notice when family is disrupted or firm, etc., is dissolved
284Service of notice in the case of discontinued business
285Information by persons responsible for paying interest
285A[ Furnishing of information or documents by an Indian concern in certain cases. [Inserted by Finance Act, 2015 (No. 20 of 2015), dated 14.5.2015.]
285BSubmission of statements by producers of cinematograph films or persons engaged in specified activity. [ Inserted by Act 41 of 1975, Section 76 (w.e.f. 1.4.1976).]
285BA[ Obligation to furnish statement of financial transaction or reportable account. [Substituted by Finance (No. 2) Act, 2014, dated 6.8.2014.]
285BAAObligation to furnish information on transaction of crypto-asset
285BBAnnual information statement
286[ Furnishing of report in respect of international group. [Inserted by Act 28 of 2016, section 113 (w.e.f. 1-4-2017).]
287[ Publication of information respecting assessees in certain cases. [Substituted by Act 5 of 1964, Section 45, for Section 287 (w.r.e.f. 1.4.1964).]
287A[ Appearance by registered valuer in certain matters. [ Inserted by Act 45 of 1972, Section 6 (w.e.f. 1.1.1973).]
288Appearance by authorised representative
288A[ Rounding off of income. [Inserted by Act 13 of 1966, Section 34 (w.r.e.f. 1.4.1966).]
288B[ Rounding off amount payable and refund due. [ Substituted by Act 29 of 2006, Section 19, for Section 288-B (w.e.f. 13.7.2006).]
289Receipt to be given
290Indemnity
291Power to tender immunity from prosecution
292Cognizance of offences
292ASection 360 of the Code of Criminal Procedure, 1973, and the Probation of Offenders Act, 1958, not to apply
292BReturn of income, etc., not to be invalid on certain grounds
292BAAssessments not to be invalid on certain grounds
292BBNotice deemed to be valid in certain circumstances
292BCCircumstances in which approvals by income-tax authority not to be invalid
292CPresumption as to assets, books of account, etc
292CCAuthorisation and assessment in case of search or requisition
293Bar of suits in civil courts
293APower to make exemption, etc., in relation to participation in the business of prospecting for, extraction, etc., of mineral oils
293BPower of Central Government or Board to condone delays in obtaining approval
293CPower to withdraw approval
293DFaceless approval or registration
294Act to have effect pending legislative provision for charge of tax
294APower to make exemption, etc., in relation to certain Union territories
295Power to make rules
296Rules and certain notifications to be placed before Parliament
297Repeals and savings
298Power to remove difficulties

Chapter XIID[Inserted by Act 17 of 2013, section 31 (w.e.f. 1-6-2013).] Special Provisions Relating To Tax On Distributed Income of Domestic Company For Buy-Back of Shares

115QATax on distributed income to shareholders
115QBInterest payable for non-payment of tax by company
115QCWhen company is deemed to be assessee in default

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IT Act 271DBChapter XXI · Penalties Imposable

Section 271DB · Penalty for failure to comply with provisions of section 269SU

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(1)

If a person who is required to provide facility for accepting payment through the prescribed electronic modes of payment referred to in section 269SU, fails to provide such facility, he shall be liable to pay, by way of penalty, a sum of five thousand rupees, for every day during which such failure continues:Provided that no such penalty shall be imposable if such person proves that there were good and sufficient reasons for such failure.

(2)

Any penalty imposable under sub-section (1) shall be imposed by the Joint Commissioner of Income-tax.

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