| Income Tax |
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Income-tax Act, 1961
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| No. |
Title |
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Short title, extent and commencement |
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Definitions [Clause (1) to Clause (15)] |
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Definitions [Clause (15A) to Clause (30)] |
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Definitions [Clause (31) to Clause (48)] |
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Previous year defined |
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Charge of income-tax |
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Scope of total income |
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Apportionment of income between spouses governed by Portuguese Civil Code |
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Residence in India |
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Income deemed to be received |
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Dividend income |
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Income deemed to accrue or arise in India |
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Incomes not included in total income [Clause (1) to Clause (10D)] |
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Incomes not included in total income [Clause (11) to Clause (17)] |
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Incomes not included in total income [Clause (17A) to Clause (23C)] |
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Incomes not included in total income [Clause (23D) to Clause (43)] |
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Special provision in respect of newly established undertakings in free trade zone, etc. |
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Special provisions in respect of newly established Units in Special Economic Zones. |
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Special provisions in respect of newly established hundred per cent export-oriented undertakings |
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Special provisions in respect of export of certain articles or things. |
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Meaning of computer programmes in certain cases. |
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Special provision in respect of certain industrial undertakings in North- Eastern Region. |
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Income from property held for charitable or religious purposes. |
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Income of trusts or institutions from contributions |
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Conditions for applicability of sections 11 and 12 |
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Procedure for registration |
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Section 11 not to apply in certain cases |
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Special provision relating to incomes of political parties |
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Heads of income |
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Expenditure incurred in relation to income not includible in total income |
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Salaries |
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Deductions from salaries |
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Salary, perquisite and profits in lieu of salary defined |
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Omitted |
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Omitted |
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Omitted |
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Omitted |
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Income from house property |
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Annual value how determined |
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Deductions from income from house property |
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Amounts not deductible from income from house property |
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Special provision for cases where unrealised rent allowed as deduction is realised subsequently |
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Unrealised rent received subsequently to be charged to income-tax |
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Special provision for arrears of rent received |
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Property owned by co-owners |
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Owner of house property, annual charge, etc., defined |
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Profits and gains of business or profession |
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Income from profits and gains of business or profession, how computed |
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Rent, rates, taxes, repairs and insurance for buildings |
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Repairs and insurance of machinery, plant and furniture |
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Depreciation |
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Investment allowance |
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Investment deposit account |
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Development rebate |
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Development allowance |
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Tea development account [,coffee development account and rubber development account |
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Site Restoration Fund |
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Reserves for shipping business |
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Rehabilitation allowance |
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Conditions for depreciation allowance and development rebate |
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Restriction on unabsorbed depreciation and unabsorbed investment allowance for limited period in case of certain domestic companies |
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Expenditure on scientific research |
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Expenditure on acquisition of patent rights or copyrights |
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Expenditure on know-how |
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Expenditure for obtaining licence to operate telecommunication services |
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Expenditure on eligible projects or schemes |
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Export markets development allowance |
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Agricultural development allowance |
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Rural development allowance |
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Expenditure by way of payment to associations and institutions for carrying out rural development programmes |
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Expenditure by way of payment to associations and institutions for carrying out programmes of conservation of natural resources |
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Amortisation of certain preliminary expenses |
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Amortisation of expenditure in case of amalgamation or demerger |
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Amortisation of expenditure incurred under voluntary retirement scheme |
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Deduction for expenditure on prospecting, etc., for certain minerals |
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Other deductions |
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General |
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Building, etc., partly used for business, etc., or not exclusively so used |
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Managing agency commission |
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Amounts not deductible |
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Expenses or payments not deductible in certain circumstances |
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Profits chargeable to tax |
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Special provision for deductions in the case of business for prospecting, etc., for mineral oil |
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Definitions of certain terms relevant to income from profits and gains of business or profession |
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Special provisions consequential to changes in rate of exchange of currency |
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Certain deductions to be only on actual payment |
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Special provision for computation of cost of acquisition of certain assets |
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Special provision in case of income of public financial institutions, public companies, etc. |
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Insurance business |
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Special provision for deduction in the case of trade, professional or similar association |
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Maintenance of accounts by certain persons carrying on profession or business |
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Audit of accounts of certain persons carrying on business or profession |
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Special provision for computing profits and gains from the business of trading in certain goods |
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Special provision for computing profits and gains of business of civil construction, etc. |
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Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages |
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Special provisions for computing profits and gains of retail business |
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Special provision for computing profits and gains of shipping business in the case of non-residents |
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Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils |
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Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents |
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Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects |
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Deduction of head office expenditure in the case of non-residents |
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Special provisions for computing income by way of royalties, etc., in the case of foreign companies |
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Special provision for computing income by way of royalties, etc., in case of non-residents |
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Special provision for computing deductions in the case of business reorganization of co-operative banks |
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Capital gains |
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Capital gains on distribution of assets by companies in liquidation |
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Capital gains on purchase by company of its own shares or other specified securities |
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Transactions not regarded as transfer |
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Withdrawal of exemption in certain cases |
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Mode of computation |
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Cost with reference to certain modes of acquisition |
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Special provision for computation of capital gains in case of depreciable assets |
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Special provision for cost of acquisition in case of depreciable asset |
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Special provision for computation of capital gains in case of slump sale |
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Special provision for full value of consideration in certain cases |
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Advance money received |
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Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 |
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Exemption of capital gains from a residential house |
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Profit on sale of property used for residence |
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Relief of tax on capital gains in certain cases |
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Capital gain on transfer of land used for agricultural purposes not to be charged in certain cases |
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Capital gain on transfer of jewellery held for personal use not to be charged in certain cases |
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Capital gain on compulsory acquisition of lands and buildings not to be charged in certain cases |
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Capital gain on transfer of capital assets not to be charged in certain cases |
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Capital gain on transfer of long-term capital assets not to be charged in the case of investment in [specified securities |
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Capital gain on transfer of long-term capital assets not to be charged in certain cases |
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Capital gain not to be charged on investment in certain bonds |
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Capital gain on transfer of certain listed securities or unit not to be charged in certain cases |
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Capital gain on transfer of certain capital assets not to be charged in case of investment in residential house |
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Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area |
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Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone |
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Extension of time for acquiring new asset or depositing or investing amount of capital gain |
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Meaning of adjusted, cost of improvement and cost of acquisition |
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Reference to Valuation Officer |
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Income from other sources |
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Deductions |
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Amounts not deductible |
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Profits chargeable to tax |
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Transfer of income where there is no transfer of assets |
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Revocable transfer of assets |
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Transfer irrevocable for a specified period |
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Transfer and revocable transfer defined |
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Income of individual to include income of spouse, minor child, etc. |
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Liability of person in respect of income included in the income of another person |
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Total income |
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Method of computing a partners share in the income of the firm |
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Method of computing a members share in income of association of persons or body of individuals |
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Cash credits |
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Unexplained investments |
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Unexplained money, etc. |
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Amount of investments, etc., not fully disclosed in books of account |
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Unexplained expenditure, etc. |
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Amount borrowed or repaid on hundi |
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Set off of loss from one source against income from another source under the same head of income |
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Set off of loss from one head against income from another |
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Transitional provisions for set off of loss under the head Income from house property |
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Carry forward and set off of loss from house property |
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Carry forward and set off of business losses |
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Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in amalgamation or demerger, etc. |
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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 |
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Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in business reorganisation of co-operative banks |
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Losses in speculation business |
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Losses under the head Capital gains |
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Losses from certain specified sources falling under the head Income from other sources |
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Losses of firms |
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OMITTED BY THE FINANCE ACT, 1992, W.E.F. 1-4-1993 |
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OMITTED BY THE FINANCE ACT, 1992, W.E.F. 1-4-1993 |
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Carry forward and set off of losses in case of change in constitution of firm or on succession |
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Carry forward and set off of losses in the case of certain companies |
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Submission of return for losses |
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Deductions to be made in computing total income |
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Computation of deduction under section 80M |
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Deductions to be made with reference to the income included in the gross total income |
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Deduction not to be allowed unless return furnished |
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Definitions |
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Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc. |
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Deduction in respect of investment in certain new shares |
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Deduction in respect of deposits under National Savings Scheme or payment to a deferred annuity plan |
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Deduction in respect of investment made under Equity Linked Savings Scheme |
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Deduction in respect of contribution to certain pension funds |
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Deduction in respect of contribution to pension scheme of Central Government |
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Limit on deductions under sections 80C, 80CCC and 80CCD |
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Deduction in respect of medical insurance premia |
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Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability |
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Deduction in respect of medical treatment, etc. |
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Deduction in respect of interest on loan taken for higher education |
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Deduction in respect of educational expenses in certain cases |
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Deduction in respect of expenses on higher education in certain cases |
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Deduction in respect of donations to certain funds, charitable institutions, etc. |
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Deductions in respect of rents paid |
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Deduction in respect of certain donations for scientific research or rural development |
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Deduction in respect of contributions given by companies to political parties |
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Deduction in respect of contributions given by any person to political parties |
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Deduction in case of new industrial undertakings employing displaced persons, etc. |
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Deduction in respect of profits and gains from newly established industrial undertakings or hotel business in backward areas |
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Deduction in respect of profits and gains from newly established small-scale industrial undertakings in certain areas |
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Deduction in respect of profits and gains from projects outside India |
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Deduction in respect of profits and gains from housing projects in certain cases |
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Deduction in respect of profits retained for export business |
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Deduction in respect of earnings in convertible foreign exchange |
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Deduction in respect of profits from export of computer software, etc. |
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Deduction in respect of profits and gains from export or transfer of film software, etc. |
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Deduction in respect of profits and gains from industrial undertakings after a certain date, etc. |
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Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc. |
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Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone |
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Deduction in respect of profits and gains from certain industrial undertakings other than infrastructure development undertakings |
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Special provisions in respect of certain undertakings or enterprises in certain special category States |
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Deduction in respect of profits and gains from business of hotels and convention centres in specified area |
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Special provisions in respect of certain undertakings in North-Eastern States |
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Deduction in respect of profits and gains from newly established industrial undertakings or ships or hotel business in certain cases |
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Deduction in respect of profits and gains from business of poultry farming |
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Deduction in respect of profits and gains from business of collecting and processing of bio-degradable waste |
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Deduction in respect of employment of new workmen |
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Deduction in respect of dividends attributable to profits and gains from new industrial undertakings or ships or hotel business |
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Deductions in respect of interest on certain securities, dividends, etc. |
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Deductions in respect of certain incomes of Offshore Banking Units and International Financial Services Centre |
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Deduction in respect of certain inter-corporate dividends |
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Deduction in the case of an Indian company in respect of royalties, etc., received from any concern in India |
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Deduction in respect of dividends received from certain foreign companies |
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Deduction in respect of royalties, etc., from certain foreign enterprises |
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Deduction in respect of income of co-operative societies |
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Deduction in respect of profits and gains from the business of publication of books |
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Deduction in respect of profits and gains from the business of publication of books |
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Deduction in respect of professional income of authors of text books in Indian languages |
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Deduction in respect of royalty income, etc., of authors of certain books other than text-books |
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Deduction in respect of remuneration from certain foreign sources in the case of professors, teachers, etc. |
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Deduction in respect of professional income from foreign sources in certain cases |
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Deduction in respect of remuneration received for services rendered outside India |
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Deduction in respect of royalty on patents |
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Deduction in respect of compensation for termination of managing agency, etc., in the case of assessees other than companies |
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Deduction in respect of long-term capital gains in the case of assessees other than companies |
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Deduction in respect of winnings from lottery |
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Deduction in case of a person with disability |
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Deduction from gross total income of the parent in certain cases |
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Deduction in respect of expenses incurred in connection with certain proceedings under the Act |
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RESTRICTION ON CERTAIN DEDUCTIONS IN THE CASE OF COMPANIES |
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Omitted by the Finance (No. 2) Act, 1967, w.e.f. 1-4-1968 |
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Share of member of an association of persons or body of individuals in the income of the association or body |
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Deduction from tax on certain securities |
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Rebate to be allowed in computing income-tax |
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Rebate on educational expenses in certain cases |
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Rebate on life insurance premia, contribution to provident fund, etc. |
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Rebate in respect of investment in certain new shares or units |
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Rebate of income-tax in case of individuals of sixty-five years or above |
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Rebate of income-tax in case of women below sixty-five years |
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Rebate of income-tax in case of certain individuals |
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Rebate in respect of securities transaction tax |
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Relief when salary, etc., is paid in arrears or in advance |
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Tax relief in relation to export turnover |
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Agreement with foreign countries |
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Adoption by Central Government of agreements between specified associations for double taxation relief |
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Countries with which no agreement exists |
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Computation of income from international transaction having regard to arms length price |
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Meaning of associated enterprise |
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Meaning of international transaction |
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Computation of arms length price |
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Reference to Transfer Pricing Officer |
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Maintenance and keeping of information and document by persons entering into an international transaction |
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Report from an accountant to be furnished by persons entering into international transaction |
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Definitions of certain terms relevant to computation of arms length price, etc |
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Avoidance of income-tax by transactions resulting in transfer of income to non-residents |
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Avoidance of tax by certain transactions in securities |
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omitted by the Finance Act, 1965, w.e.f. 1-4-1965 |
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Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 |
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Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 |
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Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 |
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Approval of Inspecting Assistant Commissioner for orders under section 104 |
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Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 |
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Omitted by the Finance Act, 1987, w.e.f. 1-4-1988 |
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Distributable income, investment company and statutory percentage defined |
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Determination of tax where total income includes income on which no tax is payable |
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Tax on accumulated balance of recognised provident fund |
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Tax on short term capital gains in certain cases |
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Tax on long-term capital gains |
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Omitted by the Finance Act, 1988, w.e.f. 1-4-1989 |
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Tax in the case of block assessment of search cases |
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Tax on capital gains in cases of assessees other than companies |
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Tax on capital gains in case of companies |
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Tax on dividends, royalty and technical service fees in the case of foreign companies |
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Tax on income from units purchased in foreign currency or capital gains arising from their transfer |
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Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer |
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Tax on income from Global depository receipts purchased in foreign currency or capital gains arising from their transfer |
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Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer |
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Tax on profits and gains of life insurance business |
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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 |
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Tax on non-resident sportsmen or sports associations |
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Tax on income from units of an open-ended equity oriented fund of the Unit Trust of India or of Mutual Funds |
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Anonymous donations to be taxed in certain cases |
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Definitions |
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Special provision for computation of total income of non-residents |
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Tax on investment income and long-term capital gains |
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Capital gains on transfer of foreign exchange assets not to be charged in certain cases |
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Return of income not to be filed in certain cases |
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Benefit under Chapter to be available in certain cases even after the assessee becomes resident |
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Chapter not to apply if the assessee so chooses |
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Special provisions relating to certain companies |
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Deemed income relating to certain companies |
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Tax credit in respect of tax paid on deemed income relating to certain companies |
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Special provision for payment of tax by certain companies |
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Special provision for computation of income in certain cases |
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Return of income not to be filed in certain cases |
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Special provision for disallowance of deductions and rebate of income-tax |
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Bar of proceedings in certain cases |
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Tax on distributed profits of domestic companies |
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Interest payable for non-payment of tax by domestic companies |
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When company is deemed to be in default |
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Tax on distributed income to unit holders |
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Interest payable for non-payment of tax |
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Unit trust of India or mutual fund to be an assessee in default |
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Tax on income in certain cases |
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Definitions |
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Computation of profits and gains from the business of operating qualifying ships |
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Operating ships |
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Qualifying company |
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Qualifying ship |
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Manner of computation of income under tonnage tax scheme |
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Tonnage income |
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Computation of tonnage income |
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Calculation in case of joint operation, etc. |
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Relevant shipping income |
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Treatment of common costs |
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Depreciation |
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General exclusion of deduction and set off, etc. |
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Exclusion of loss |
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Chargeable gains from transfer of tonnage tax assets |
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Exclusion from provisions of section 115JB |
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Method and time of opting for tonnage tax scheme |
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Period for which tonnage tax option to remain in force |
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Renewal of tonnage tax scheme |
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Prohibition to opt for tonnage tax scheme in certain cases |
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Transfer of profits to Tonnage Tax Reserve Account |
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