Income Tax Bill, 2025

Chapter: I
PRELIMINARY
Clause 1	:	Short title, extent and commencement. Clause 1 of the Bill provides for the short title, extent and commencement of the proposed legislation.....
Clause 2	:	Definitions. Clause 2 of the Bill provides for definition of various terms and expressions used in the proposed legislation.....
Clause 3	:	Definition of "tax year". Clause 3 of the Bill provides for definition of tax year .....
Chapter: II
BASIS OF CHARGE
Clause 4	:	Charge of income-tax. Clause 4 of the Bill provides for charge of income-tax.....
Clause 5	:	Scope of total income. Clause 5 of the Bill defines the scope of total income for a person who is a resident or a non-resident in India.....
Clause 6	:	Residence in India. Clause 6 of the Bill seeks to provide for the conditions for determining the residential status of a person in India.....
Clause 7	:	Income deemed to be received. Clause 7 of the Bill seeks to deal with income deemed to be received.....
Clause 8	:	Income on receipt of capital asset or stock in trade by specified person from specified entity. Clause 8 of the Bill provides for income on receipt of capital asset or stock in trade by specified person from specified ent....
Clause 9	:	Income deemed to accrue or arise in India. Clause 9 of the Bill provides for income deemed to accrue or arise in India, including those from a business connection and p....
Clause 10	:	Apportionmet of income between spouses governed by Portuguese Civil Code. Clause 10 of the Bill deals with apportionment of income between spouses governed by Portuguese Civil Code.....
Chapter: III
INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME
Part: A
Incomes not to be included in total income
Clause 11	:	Incomes not included in total income. Clause 11 of the Bill seeks to provide for incomes not included in total income and, inter alia, provides for details of cert....
Part: B
Incomes not to be included in total income of political parties and electoral trusts
Clause 12	:	Incomes not included in total income of political parties and electoral trusts. Clause 12 of the Bill provides for income not to be included in total income of political parties and electoral trust enumera....
Chapter: IV
COMPUTATION OF TOTAL INCOME
Part: A
Heads of income
Clause 13	:	Heads of income. Clause 13 of the Bill provides for classification under various heads of income for the purposes of charge of income-tax and ....
Clause 14	:	Income not forming part of total income and expenditure in relation to such income. Clause 14 of the Bill provides for disallowance of certain expenditure incurred in relation to income which does not form par....
Part: B
Salaries
Clause 15	:	Salaries. Clause 15 of the Bill provides for under the head salaries.....
Clause 16	:	Income from salary. Clause 16 of the Bill provides for different payments made by an employer to an employee which may be taxed under this head o....
Clause 17	:	Perquisite. Clause 17 of the Bill provides for exclusion of certain benefits from the definition of perquisites.....
Clause 18	:	Profits in lieu of salary. Clause 18 of the Bill seeks to define different payments in the nature of profits in lieu of salary and also seeks to specify....
Clause 19	:	Deductions from salaries Clause 19 of the Bill provides for deductions available against salary income. It also seeks to provide for calculation of th....
Part: C
Income from house property
Clause 20	:	Income from house property Clause 20 of the Bill provides for the charge of income-tax under the head Income from house property on the annual value of ....
Clause 21	:	Determination of annual value. Clause 21 of the Bill provides for determination of annual value and also seeks to define the annual value of property.....
Clause 22	:	Deductions from income from house property. Clause 22 of the Bill provides for deductions from income from house property.....
Clause 23	:	Arrears of rent and unrealised rent received subsequently. Clause 23 of the Bill provides for taxability of arrears or unrealised rent received subsequently irrespective of ownership o....
Clause 24	:	Property owned by co-owners. Clause 24 of the Bill provides for taxability of co-owners of the property with definite and ascertainable shares.....
Clause 25	:	Interpretation Clause 25 of the Bill provides for interpretation relating to Chapter IV-C and definition of an owner in relation to a proper....
Part: D
Profits and gains of business or profession
Clause 26	:	Income under head “Profits and gains of business or profession” Clause 26 of the Bill seeks to provide charging of income-tax on income under the head Profits and gains of business or profe....
Clause 27	:	Manner of computing profits and gains of business or profession. Clause 27 of the Bill provides for the manner of computing income under the head Profits and gains of business or profession ....
Clause 28	:	Rent, rates, taxes, repairs and insurance. Clause 28 of the Bill provides for deduction for expenses on account of rent, repairs, insurance premium, local taxes, etc.....
Clause 29	:	Deductions related to employee welfare. Clause 29 of the Bill seeks to provide the deduction related to employee welfare including contribution to various funds, etc....
Clause 30	:	Deduction on certain premium. Clauses 30 to 32 of the Bill provides for deduction on expenditure incurred towards insurance premium relating to destruction....
Clause 31	:	Deduction for bad debt and provision for bad and doubtful debt. Clauses 30 to 32 of the Bill provides for deduction on expenditure incurred towards insurance premium relating to destruction....
Clause 32	:	Other deductions. Clauses 30 to 32 of the Bill provides for deduction on expenditure incurred towards insurance premium relating to destruction....
Clause 33	:	Deduction for depreciation. Clause 33 of the Bill provides for deduction in respect of tangible and intangible assets owned and used for the purposes of ....
Clause 34	:	General conditions for allowable deductions. Clause 34 of the Bill provides for general conditions for allowing expenditure (other than capital and personal expenditure) ....
Clause 35	:	Amounts not deductible in certain circumstances. Clauses 35 and 36 of the Bill provides for amounts not to be allowed while computing the income under the head Profit and gai....
Clause 36	:	Expenses or payments not deductible in certain circmstances. Clauses 35 and 36 of the Bill provides for amounts not to be allowed while computing the income under the head Profit and gai....
Clause 37	:	Certain deductions allowed on actual payment basis only. Clause 37 of the Bill provides for certain deductions allowed on certain expenditures which is to be made only on actual paym....
Clause 38	:	Certain sums deemed as profits and gains of business or profession. Clause 38 of the Bill provides for certain sums that are liable to be deemed as profit and gains of business or profession wh....
Clause 39	:	Computation of actual cost. Clause 39 of the Bill provides for certain definitions such as actual cost, written down value, speculative transactions, etc....
Clause 40	:	Special provision for computation of cost of acquisition of certain assets. Clause 40 of the Bill provides for special provision for computation of cost of acquisition of certain assets.....
Clause 41	:	Written down value of depreciable asset. Clause 41 of the Bill provides for written down value of depreciable asset and, inter alia, provides certain definitions such....
Clause 42	:	Capitalising the impact of foreign exchange fluctuation. Clauses 42 and 43 of the Bill provide for capitalising the impact of foreign exchange fluctuation and taxation of foreign exc....
Clause 43	:	Taxation of foreign exchange fluctuation. Clauses 42 and 43 of the Bill provide for capitalising the impact of foreign exchange fluctuation and taxation of foreign exc....
Clause 44	:	Amortisation of certain preliminary expenses. Clause 44 of the Bill provides for amortisation of certain preliminary expenses insured by specified businesses before commen....
Clause 45	:	Expenditure on scientific research. Clause 45 of the Bill provides for deduction of certain capital expenditure (other than cost of land) or revenue expenditure ....
Clause 46	:	Capital expenditure of specified business. Clause 46 of the Bill provides for deduction of certain capital expenditure of specified business incurred subject to fulfilm....
Clause 47	:	Expenditure on agricultural extension project and skill development project. Clause 47 of the Bill provides for deduction of expenses incurred for agricultural extension projects and skill development p....
Clause 48	:	Tea development account, coffee development account and rubber development account. Clauses 48 and 49 of the Bill provide for tea development account, coffee development account and rubber development account ....
Clause 49	:	Site Restoration Fund. Clauses 48 and 49 of the Bill provide for tea development account, coffee development account and rubber development account ....
Clause 50	:	Special provision in case of trade, profession or similar association. Clause 50 of the Bill provides for deduction in the case of specified associations for the interest and welfare of members of....
Clause 51	:	Amortisation of expenditure for prospecting certain minerals. Clause 51 of the Bill provides for amortisation of expenditure for prospecting certain minerals.....
Clause 52	:	Amortisation of expenditure for telecommunications services, amalgamation, demerger, scheme of voluntary retirement, etc. Clause 52 of the Bill provides for amortisation of expenditure for telecommunications services, amalgamation, demerger, schem....
Clause 53	:	Full value of consideration for transfer of assets other than capital assets in certain cases. Clause 53 of the Bill provides for full value of consideration for transfer of assets other than capital assets in certain ca....
Clause 54	:	Business of prospecting for mineral oils. Clause 54 of the Bill provides for deduction of certain capital expenditure expenses incurred in business of prospecting for ....
Clause 55	:	Insurance business. Clause 55 of the Bill provides for the manner of computation of profits or gains in cases of insurance business.....
Clause 56	:	Special provision in case of interest income of specified financial institutions. Clause 56 of the Bill provides for computation of interest income of specified financial institutions.....
Clause 57	:	Revenue recognition for construction and service contracts. Clause 57 of the Bill provides for revenue recognition for construction and service contracts.....
Clause 58	:	Special provision for computing profits and gains of business or profession on presumptive basis in case of certain residents. Clause 58 of the Bill provides for special provision for computing profits and gains of business of profession on presumptive....
Clause 59	:	Chargeability of royalty and fee for technical services in hands of nonresidents. Clause 59 of the Bill provides for chargeability of royalty and fee for technical services in hands of non-residents.....
Clause 60	:	Deduction of head office expenditure in case of non-residents. Clause 60 of the Bill seeks to provide the manner for computation for allowing the deduction of head office expenditure in ca....
Clause 61	:	Special provision for computation of income on presumptive basis in respect of certain business activities of certain non-residents. Clause 61 of the Bill provides for special provision for computation of income on presumptive basis in respect of certain bus....
Clause 62	:	Maintenance of books of account. Clause 62 of the Bill provides for maintenance of books of accounts and seeks to deal with maintenance of books of account.....
Clause 63	:	Tax audit. Clause 63 of the Bill provides for tax audit and also provides for auditing of books account by specified accountant under ce....
Clause 64	:	Facilitating payments in electronic modes. Clause 64 of the Bill provides for facilitating payments in electronic modes.....
Clause 65	:	Special provision for computing deductions in case of business reorganisation of co-operative banks. Clause 65 of the Bill provides for special provision for computing deductions in case of business reorganisation of co-operat....
Clause 66	:	Interpretation. Clause 66 of the Bill provides for interpretation of Chapter IV-D which deals with various definitions related to income unde....
Part: E
Capital gains
Clause 67	:	Capital gains. Clause 67 of the Bill provides for capital gains and also seeks to provide the chargeability of Income-tax under the head Cap....
Clause 68	:	Capital gains on distribution of assets by companies in liquidation. Clause 68 of the Bill provides for capital gains on distribution of assets by companies in liquidation.....
Clause 69	:	Capital gains on purchase by company of its own shares or other specified securities. Clause 69 of the Bill provides for capital gains arising to shareholders or holders of specified securities, when a company p....
Clause 70	:	Transactions not regarded as transfer. Clause 70 of the Bill provides for delineation all the transactions which will not be regarded as transfer of capital asset f....
Clause 71	:	Withdrawal of exemption in certain cases. Clause 71 of the Bill provides for conditions wherein exemption from taxation as capital gains are withdrawn.....
Clause 72	:	Mode of computation of capital gains. Clause 72 of the Bill provides for mode of computation of capital gains.....
Clause 73	:	Cost with reference to certain modes of acquisition. Clause 73 of the Bill provides for the cost of acquisition of the asset with reference to certain modes of acquisition.....
Clause 74	:	Special provision for computation of capital gains in case of depreciable assets. Clause 74 of the Bill provides for special provision for computation of capital gains in case of depreciable assets. The said....
Clause 75	:	Special provision for cost of acquisition in case of depreciable asset. Clause 75 of the Bill provides for computation of capital gains with respect to assets that are depreciable, as well as the p....
Clause 76	:	Special provision for computation of capital gains in case of Market Linked Debenture. Clause 76 of the Bill provides for special provision for computation of capital gains in case of Market Linked Debenture.....
Clause 77	:	Special provision for computation of capital gains in case of slump sale. Clause 77 of the Bill provides for the computation of capital gains in the scenario of a slump sale of a capital asset.....
Clause 78	:	Special provision for full value of consideration in certain cases. Clauses 78 and 79 of the Bill provide for special provision for full value of consideration in certain cases and special prov....
Clause 79	:	Special provision for full value of consideration for transfer of share other than quoted share. Clauses 78 and 79 of the Bill provide for special provision for full value of consideration in certain cases and special prov....
Clause 80	:	Fair market value deemed to be full value of consideration in certain cases. Clause 80 of the Bill provides for the fair market value shall be deemed to the full value of consideration as a result of tr....
Clause 81	:	Advance money received. Clause 81 of the Bill provides for advance money received regarding the transfer of a capital asset.....
Clause 82	:	Profit on sale of property used for residence. Clause 82 of the Bill provides for the capital gains arising from profits on sale of residential properties.....
Clause 83	:	Capital gains on transfer of land used for agricultural purposes not to be charged in certain cases. Clause 83 of the Bill provides for capital gains on transfer of land used for agricultural purposes not to be charged in cert....
Clause 84	:	Capital gains on compulsory acquisition of lands and buildings not to be charged in certain cases. Clause 84 of the Bill provides for capital gains on compulsory acquisition of lands and buildings not to be charged in certai....
Clause 85	:	Capital gains not to be charged on investment in certain bonds. Clause 85 of the Bill provides for capital gains not to be charged on investment in certain specific bonds.....
Clause 86	:	Capital gains on transfer of certain capital assets not to be charged in case of investment in residential house. Clause 86 of the Bill provides for non-chargeability of capital gains in specific scenarios of investment in residential hous....
Clause 87	:	Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area. Clauses 87 and 88 of the Bill provide for exemption of capital gains on transfer of assets in cases of shifting of industrial....
Clause 88	:	Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone. Clauses 87 and 88 of the Bill provide for exemption of capital gains on transfer of assets in cases of shifting of industrial....
Clause 89	:	Extension of time for acquiring new asset or depositing or investing amount of capital gains. Clause 89 of the Bill provides for scenarios for extension of time for acquiring new assets or depositing or investing amount....
Clause 90	:	Meaning of “adjusted”, “cost of improvement” and “cost of acquisition”. Clause 90 of the Bill provides for meaning of adjusted , cost of improvement and cost of acquisition and also seeks to deline....
Clause 91	:	Reference to Valuation Officer. Clause 91 of the Bill provides for reference to Valuation Officer for ascertaining the fair market value of a capital asset.....
Part: F
Income from other sources
Clause 92	:	Income from other sources. Clause 92 of the Bill provides for a non-exhaustive list of the incomes which are chargeable to tax under the head Income fro....
Clause 93	:	Deductions Clause 93 of the Bill provides for deductions for eligible expenses for computing the taxable income under the head Income fr....
Clause 94	:	Amounts not deductible. Clause 94 of the Bill seeks to enumerate the deductions that are allowable to be set off against incomes referred to in claus....
Clause 95	:	Profits chargeable to tax. Clause 95 of the Bill seeks to propose that any benefit in cash or otherwise obtained on account of remission or cessation of....
Chapter: V
INCOME OF OTHER PERSONS, INCLUDED IN TOTAL INCOME OF ASSESSEE
Clause 96	:	Transfer of income without transfer of assets. Clause 96 of the Bill seeks to provide that the income which is transferred to any other person without the transfer of the a....
Clause 97	:	Chargeability of income in transfer of assets. Clause 97 of the Bill seeks to propose that the provisions relating to the clubbing of income in the hands of transferor and ....
Clause 98	:	“Transfer” and “revocable transfer” defined. Clause 98 of the Bill provides for definitions of the expressions Transfer and revocable transfer .....
Clause 99	:	Income of individual to include income of spouse, minor child, etc. Clause 99 of the Bill provides for clubbing of income which means adding or including the income of another person (mostly fa....
Clause 100	:	Liability of person in respect of income included in income of another person. Clause 100 of the Bill provides for the tax liability of the person in respect of the income which is included in the income ....
Chapter: VI
AGGREGATION OF INCOME
Clause 101	:	Total income. Clause 101 of the Bill provides that in computing the total income of an assessee, there shall be included all income on whic....
Clause 102	:	Unexplained credits. Clause 102 of the Bill provides for the circumstances or conditions in which any sum found credited in the books of account m....
Clause 103	:	Unexplained investment. Clause 103 of the Bill provides for unexplained investment. It also seeks to provide the circumstances or conditions in which....
Clause 104	:	Unexplained asset. Clause 104 of the Bill provides for the circumstances or conditions in which any asset owned by or belonging to the assessee ....
Clause 105	:	Unexplained expenditure. Clause 105 of the Bill provides for the circumstances or conditions in which any expenditure incurred by the assessee shall b....
Clause 106	:	Amount borrowed or repaid through negotiable instrument, hundi, etc. Clause 106 of the Bill seeks to provide that where any amount is borrowed on a hundi and other instruments like hundi from, o....
Clause 107	:	Charge of tax. Clause 107 of the Bill seeks to provide that income referred to in clauses 102, 103, 104, 105 and 106 shall be charged to tax....
Chapter: VII
SET OFF, OR CARRY FORWARD AND SET OFF OF LOSSES
Clause 108	:	Set off of losses under the same head of income. Clause 108 of the Bill provides for set off of losses under the same head of income in the manner specified therein.....
Clause 109	:	Set off of losses under any other head of income. Clause 109 of the Bill provides for set off of losses under any other head of income in the manner provided therein.....
Clause 110	:	Carry forward and set off of loss from house property. Clause 110 of the Bill provides for carry forward and set off of loss against income from house property.....
Clause 111	:	Carry forward and set off of loss from Capital gains. Clause 111 of the Bill provides for carry forward and set off of loss from capital gains and seeks to provide for carry forwa....
Clause 112	:	Carry forward and set off of business loss. Clause 112 of the Bill provides for carry forward and set off of business loss. It further defines the expression unabsorbed ....
Clause 113	:	Set off and carry forward of losses from speculation business. Clause 113 of the Bill provides for set off and carry forward of losses from speculation business and provides for set off an....
Clause 114	:	Set off and carry forward of losses from specified business. Clause 114 of the Bill provides for set off and carry forward of losses from specified business. The said clause also defines....
Clause 115	:	Set off and carry forward of losses from specified activity. Clause 115 of the Bill seeks to provide for set off and carry forward of losses from specified activity.....
Clause 116	:	Treatment of accumulated losses and unabsorbed depreciation in amalgamation or demerger, etc. Clause 116 of the Bill seeks to provide for carry forward and set off of losses and unabsorbed depreciation in case of specif....
Clause 117	:	Treatment of accumulated losses and unabsorbed depreciation in scheme of amalgamation in certain cases. Clause 117 of the Bill provides that in a case of amalgamation the accumulated loss and depreciation of amalgamating entity s....
Clause 118	:	Carry forward and set off of losses and unabsorbed depreciation in business reorganisation of co-operative banks. Clause 118 of the Bill seeks to provide for carry forward and set off of losses and unabsorbed depreciation in business reorg....
Clause 119	:	Carry forward and set off of losses not permissible in certain cases. Clause 119 of the Bill provides for carry forward and set off of losses not permissible in certain cases and also provides th....
Clause 120	:	No set off of losses against undisclosed income consequent to search, requisition and survey. Clause 120 of the Bill seeks to provide that no set off of loss or unabsorbed depreciation shall be allowed against undisclos....
Clause 121	:	Submission of return for losses. Clause 121 of the Bill provides for submission of return for losses and also that no loss shall be carried forward and set of....
Chapter: VIII
DEDUCTIONS TO BE MADE IN COMPUTING TOTAL INCOME
Part: A
General
Clause 122	:	Deductions to be made in computing total income. Clause 122 of the Bill provides for the statutory compliance requirements, time limits and overall limits for claiming the de....
Part: B
Deductions in respect of certain payments
Clause 123	:	Deduction for life insurance premia, deferred annuity, contributions to provident fund, etc. Clause 123 of the Bill provides for deduction for insurance premia, deferred annuity, contributions to provident fund, etc. a....
Clause 124	:	Deduction in respect of employer contribution to pension scheme of Central Government. Clause 124 of the Bill seeks to provide for deduction in respect of employer contribution to pension scheme of Central Govern....
Clause 125	:	Deduction in respect of contribution to Agnipath Scheme. Clause 125 of the Bill seeks to provide for deduction in respect of contribution to Agnipath Scheme.....
Clause 126	:	Deduction in respect of health insurance premia. Clause 126 of the Bill seeks to provide for deduction in respect of health insurance premia.....
Clause 127	:	Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability. Clause 127 of the Bill seeks to provide for deduction in respect of maintenance including medical treatment of a dependant wh....
Clause 128	:	Deduction in respect of medical treatment, etc. Clause 128 of the Bill seeks to provide for deduction in respect of medical treatment, etc.....
Clause 129	:	Deduction in respect of interest on loan taken for higher education. Clause 129 of the Bill seeks to provide for deduction in respect of interest on loan taken for higher education.....
Clause 130	:	Deduction in respect of interest on loan taken for residential house property. Clause 130 of the Bill seeks to provide for deduction in respect of interest on loan taken for certain house property.....
Clause 131	:	Deduction in respect of interest on loan taken for certain house property. Clause 131 of the Bill provides for deduction in respect of interest on loan taken for certain house property and to provide ....
Clause 132	:	Deduction in respect of purchase of electric vehicle. Clause 132 of the Bill seeks to provide for deduction in respect of purchase of electric vehicle.....
Clause 133	:	Deduction in respect of donations to certain funds, charitable institutions, etc. Clause 133 of the Bill seeks to provide for deduction in respect of donations to certain funds, charitable institutions, etc.....
Clause 134	:	Deductions in respect of rents paid. Clause 134 of the Bill seeks to provide that deduction to an assessee being an individual in respect of any expenditure incur....
Clause 135	:	Deduction in respect of certain donations for scientific research or rural development. Clause 135 of the Bill seeks to provide for deduction in respect of certain donations for scientific research or rural develo....
Clause 136	:	Deduction in respect of contributions given by companies to political parties. Clause 136 of the Bill seeks to provide for deduction in respect of contributions given by companies to political parties.....
Clause 137	:	Deduction in respect of contributions given by any person to political parties. Clause 137 of the Bill seeks to provide for deduction in respect of contributions given by any person to political parties.....
Part: C
Deductions in respect of certain incomes.
Clause 138	:	Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc. Clause 138 of the Bill seeks to provide for deductions in respect of profits and gains from industrial undertakings or enterp....
Clause 139	:	Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone. Clause 139 of the Bill seeks to provide for deductions in respect of profits and gains by an undertaking or enterprise engage....
Clause 140	:	Special provision in respect of specified business. Clause 140 of the Bill seeks to provide deduction to eligible start up in respect of profits and gains of eligible businesses....
Clause 141	:	Deduction in respect of profits and gains from certain industrial undertakings. Clause 141 of the Bill provides for deduction in respect of profits and gains from certain industrial undertakings and provid....
Clause 142	:	Deductions in respect of profits and gains from housing projects. Clause 142 of the Bill provides for deductions in respect of profits and gains of business of developing and building housing....
Clause 143	:	Special provisions in respect of certain undertakings in North-Eastern States. Clause 143 of the Bill provides for special provisions in respect of profits and gains of certain undertakings with respect t....
Clause 144	:	Special provisions in respect of newly established Units in Special Economic Zones. Clause 144 of the Bill provides for deduction in respect of profits and gains of newly established units in Special Economic ....
Clause 145	:	Duction for businesses engaged in collecting and processing of bio-degradable waste. Clause 145 of the Bill seeks to provide for deduction for businesses engaged in collecting and processing of bio-degradable w....
Clause 146	:	Deduction in respect of additional employee cost. Clause 146 of the Bill provides for deduction in respect of additional employee cost and deduction in respect of additional e....
Clause 147	:	Deductions for income of Offshore Banking Units and Units of International Financial Services Centre. Clause 147 of the Bill provides for deductions for income of Offshore Banking Units and Units of International Financial Serv....
Clause 148	:	Deduction in respect of certain inter-corporate dividends. Clause 148 of the Bill seeks to provide for deduction in respect of certain inter-corporate dividends.....
Clause 149	:	Deduction in respect of income of co-operative societies. Clause 149 of the Bill seeks to provide for deduction in respect of income of co-operative societies.....
Clause 150	:	Deduction in respect of certain income of Producer Companies. Clause 150 of the Bill seeks to provide for deduction in respect of certain income of Producer Companies.....
Clause 151	:	Deduction in respect of royalty income, etc., of authors of certain books other than text-books. Clause 151 of the Bill provides for deduction in respect of royalty income, etc., of authors of certain books other than text....
Clause 152	:	Deduction in respect of royalty on patents. Clause 152 of the Bill provides for deduction in respect of royalty on patents.....
Part: D
Deductions in respect of other incomes
Clause 153	:	Deduction for interest on deposits. Clause 153 of the Bill provides for certain deduction for interest on savings account deposits (excluding time deposits) for ....
Part: E
Other deductions
Clause 154	:	Deduction in case of a person with disability. Clause 154 of the Bill provides for deduction in case of a person with disability and to provide for deduction for an individ....
Chapter: IX
REBATES AND RELIEFS
Part: A
Rebates and reliefs
Clause 155	:	Rebate to be allowed in computing income-tax. Clause 155 of the Bill seeks to provide for rebate to be allowed in computing income-tax.....
Clause 156	:	Rebate of income-tax in case of certain individuals. Clause 156 of the Bill seeks to provide for rebate of income-tax in case of certain individuals.....
Clause 157	:	Relief when salary, etc., is paid in arrears or in advance. Clause 157 of the Bill seeks to provide for relief when salary, etc, is paid in arrears or in advance.....
Clause 158	:	Relief from taxation in income from retirement benefit account maintained in a notified country. Clause 158 of the Bill seeks to provide for relief from taxation in income from retirement benefit account maintained in a no....
Part: B
Double taxation relief
Clause 159	:	Agreement with foreign countries or specified territories and adoption by Central Government of agreement between specified associations for double taxation relief. Clause 159 of the Bill provides for agreement with foreign countries or specified territories and adoption by the Central Gov....
Clause 160	:	Countries with which no agreement exists. Clause 160 of the Bill seeks to provide for deduction from the Indian income-tax payable by a person who has paid tax outside....
Chapter: X
SPECIAL PROVISIONS RELATING TO AVOIDANCE OF TAX
Clause 161	:	Computation of income from international transaction and specified domestic transaction having regard to arm’s length price. Clause 161 of the Bill provides for computation of income from international transaction and specified domestic transaction h....
Clause 162	:	Meaning of associated enterprise. Clause 162 of the Bill seeks to define the expression associated enterprise .....
Clause 163	:	Meaning of international transaction. Clause 163 of the Bill seeks to define the expression international transaction .....
Clause 164	:	Meaning of specified domestic transaction. Clause 164 of the Bill seeks to define the expression specified domestic transaction .....
Clause 165	:	Determination of arm's length price. Clause 165 of the Bill provides for determination of arm s length price and the methods for determining the arm s length pric....
Clause 166	:	Reference to Transfer Pricing Officer. Clause 166 of the Bill provides for referral of cases by the Assessing Officer to the Transfer Pricing Officer for determinin....
Clause 167	:	Power of Board to make safe harbour rules. Clause 167 of the Bill provides for power of Board to make safe harbour rules to simplify compliance and reduce litigation.....
Clause 168	:	Advance pricing agreement. Clause 168 of the Bill provides for advance pricing agreement between the taxpayer and the tax authorities to pre-determine t....
Clause 169	:	Effect to advance pricing agreement. Clause 169 of the Bill, inter alia, seeks to provide for giving effect to advance pricing agreement entered into by an assess....
Clause 170	:	Secondary adjustment in certain cases. Clause 170 of the Bill provides for secondary adjustment in certain cases to ensure that the actual allocation of profits bet....
Clause 171	:	Maintenance, keeping and furnishing of information and document by certain persons. Clause 171 of the Bill provides for maintenance, keeping and furnishing of information and document by certain persons and do....
Clause 172	:	Report from an accountant to be furnished by persons entering into international transaction or specified domestic transaction. Clause 172 of the Bill provides for report from an accountant to be furnished by persons entering into international transact....
Clause 173	:	Definitions of certain terms relevant to determination of arm’s length price, etc. Clause 173 of the Bill provides for definitions of certain terms relevant to determination of arm s length price, etc.....
Clause 174	:	Avoidance of income-tax by transactions resulting in transfer of income to non-residents. Clause 174 of the Bill provides for avoidance of income-tax by transactions resulting in transfer of income to non-residents ....
Clause 175	:	Avoidance of tax by certain transactions in securities. Clause 175 of the Bill provides for avoidance of tax by certain transactions in securities arising from such securities for s....
Clause 176	:	Special measures in respect of transactions with persons located in notified jurisdictional area. Clause 176 of the Bill seeks to provide for special measures in respect of transactions with persons located in notified juri....
Clause 177	:	Limitation on interest deduction in certain cases. Clause 177 of the Bill seeks to provide for limitation on interest deduction in certain cases.....
Chapter: XI
GENERAL ANTI-AVOIDANCE RULE
Clause 178	:	Applicability of General Anti-Avoidance Rule. Clause 178 of the Bill provides for the framework for the applicability of General Anti-Avoidance Rule.....
Clause 179	:	Impermissible avoidance arrangement. Clause 179 of the Bill seeks to define impermissible avoidance arrangements under the General Anti-Avoidance Rule.....
Clause 180	:	Arrangement to lack commercial substance. Clause 180 of the Bill seeks to outline the conditions under which an arrangement shall be deemed to lack commercial substanc....
Clause 181	:	Consequences of impermissible avoidance arrangement. Clause 181 of the Bill provides for consequences of impermissible avoidance arrangement under the General Anti-Avoidance Rule....
Clause 182	:	Treatment of connected person and accommodating party. Clause 182 of the Bill provides for treatment of connected person and accommodating party under the General Anti-Avoidance Ru....
Clause 183	:	Application of this Chapter. Clause 183 of the Bill seeks to provide for the applicability of General Anti-Avoidance Rule.....
Clause 184	:	Interpretation. Clause 184 of the Bill seeks to provide for definition of General Anti-Avoidance Rule.....
Chapter: XII
MODE OF PAYMENT IN CERTAIN CASES, ETC.
Clause 185	:	Mode of taking or accepting certain loans, deposits and specified sum. Clause 185 of the Bill seeks to provide, inter alia, for restrictions on taking or accepting loan, deposit and specified sum ....
Clause 186	:	Mode of undertaking transactions. Clause 186 of the Bill provides, inter alia, for restriction on receiving an amount of rupees two lakh and above in the modes....
Clause 187	:	Acceptance of payment through prescribed electronic modes. Clause 187 of the Bill seeks to provide for accepting payment through prescribed electronic modes.....
Clause 188	:	Mode of repayment of certain loans or deposits. Clause 188 of the Bill provides, inter alia, for restrictions on repayment of certain loans, deposit or specified advance in ....
Clause 189	:	Interpretation. Clause 189 of the Bill seeks to provide for definitions of certain expressions which, inter alia, includes banking company, s....
Chapter: XIII
DETERMINATION OF TAX IN SPECIAL CASES
Part: A
Determination of tax in certain special cases
Clause 190	:	Determination of tax where total income includes income on which no tax is payable. Clause 190 of the Bill provides for the mode of computation of total income if it includes any income on which no income tax ....
Clause 191	:	Tax on accumulated balance of recognised provident fund. Clause 191 of the Bill seeks to provide for tax on accumulated balance of recognised provident fund.....
Clause 192	:	Tax in case of block assessment of search cases. Clause 192 of the Bill provides for the tax liability on the total income in search cases.....
Clause 193	:	Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer. Clause 193 of the Bill provides for, inter alia, for special rates of tax on resident individuals employed by an entity engag....
Clause 194	:	Tax on certain incomes. Clause 194 of the Bill provides for taxation of earnings from lotteries, cross word puzzles, horse race, card games, online g....
Clause 195	:	Tax on income referred to in section 102 or 103 or 104 or 105 or 106. Clause 195 of the Bill provides for tax on certain income referred to in clauses 102 to 106.....
Part: B
Special provisions relating to tax on capital gains
Clause 196	:	Tax on short-term capital gains in certain cases. Clause 196 of the Bill provides for taxation of short-term capital gains in case of a transfer of short-term capital asset, b....
Clause 197	:	Tax on long-term capital gains. Clause 197 of the Bill provides for taxation of long-term capital gains where the capital gains arise from the transfer of a ....
Clause 198	:	Tax on long-term capital gains in certain cases. Clause 198 of the Bill provides for taxation of long-term capital gains where the capital gains arise from the transfer of a ....
Part: C
New tax regime
Clause 199	:	Tax on income of certain manufacturing domestic companies. Clause 199 of the Bill provides for beneficial rate of tax on manufacturing companies subject to satisfaction of certain cond....
Clause 200	:	Tax on income of certain domestic companies. Clause 200 of the Bill provides for the (optional) concessional tax rate applicable to companies other than those covered und....
Clause 201	:	Tax on income of new manufacturing domestic companies. Clause 201 of the Bill provides for an incentivized tax rate on income of new manufacturing domestic companies subject to sat....
Clause 202	:	New tax regime for individuals, Hindu undivided family and others. Clause 202 of the Bill provides for a simplified tax regime for individuals, Hindu undivided families and other specified per....
Clause 203	:	Tax on income of certain resident cooperative societies. Clause 203 of the Bill provides for the (optional) concessional tax rate applicable to co-operative societies other than thos....
Clause 204	:	Tax on income of certain new manufacturing co-operative societies. Clause 204 of the Bill provides for an incentivized tax rate of 15% on the manufacturing income of new manufacturing co-opera....
Clause 205	:	Conditions for tax on income of certain companies and co-operative societies. Clause 205 of the Bill provides for the conditions for the concessional rate of taxes applicable under clauses 199, 200, 201,....
Part: D
Special provisions relating to minimum alternate tax and alternate minimum tax
Clause 206	:	Special provision for minimum alternate tax and alternate minimum tax. Clause 206 of the Bill provides for provisions relating to taxation on book profits and deals with minimum alternate tax and ....
Part: E
Special provisions relating to non-residents and foreign company
Clause 207	:	Tax on dividends, royalty and technical service fees in case of foreign companies. Clause 207 of the Bill provides special rates of taxes for non-residents on certain types of income (like dividends, interest....
Clause 208	:	Tax on income from units purchased in foreign currency or capital gains arising from their transfer. Clause 208 of the Bill provides for special rates of taxes for offshore funds on investments made in foreign currency.....
Clause 209	:	Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer. Clause 209 of the Bill provides for special rates of taxes for non-residents on Global Depository Receipts including income b....
Clause 210	:	Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer. Clause 210 of the Bill provides for special rates of tax on income earned by Foreign Institutions Investors including dividen....
Clause 211	:	Tax on non-resident sportsmen or sports associations. Clause 211 of the Bill provides for special rates of tax on non-residents sportsmen or sports associations with respect to ce....
Clause 212	:	Interpretation. Clause 212 of the Bill provides for Interpretation relating to Chapter XIII-E. The said clause seeks to provide the definitio....
Clause 213	:	Special provision for computation of total income of non-residents. Clause 213 of the Bill provides for the method of computing the taxable income for non-resident Indians.....
Clause 214	:	Tax on investment income and long-term capital gains. Clause 214 of the Bill provides for the special rates of taxes on investment income and long terms capital gains earned by no....
Clause 215	:	Capital gains on transfer of foreign exchange assets not to be charged in certain cases. Clause 215 of the Bill provides for the non-taxation of long term capital gains earned by non-resident Indians, if they make ....
Clause 216	:	Return of income not to be furnished in certain cases. Clause 216 of the Bill provides for the exemption from filing of the return of income of non-resident Indians, if certain con....
Clause 217	:	Benefit to be available in certain cases even after assessee becomes resident. Clause 217 of the Bill provides for the optional grandfathering of the taxation of income from investments made by a non-resi....
Clause 218	:	Provisions not to apply if the assessee so chooses. Clause 218 of the Bill provides for the method for opting out of the provisions of the clauses 212 to 217.....
Clause 219	:	Conversion of an Indian branch of foreign company into subsidiary Indian company. Clause 219 of the Bill provides for relaxation from capital gains tax and entitlement to carry forward losses, etc., when an ....
Clause 220	:	Foreign company said to be resident in India. Clause 220 of the Bill provides for the implications where a foreign company is said to be a resident in India.....
Part: F
Special provisions relating to pass-through entities
Clause 221	:	Tax on income from securitisation trusts. Clause 221 of the Bill provides for special taxation regime for income from a securitization trust earned by its investors.....
Clause 222	:	Tax on income in case of venture capital undertakings. Clause 222 of the Bill seeks to provide for tax on income in case of venture capital undertakings.....
Clause 223	:	Tax on income of unit holder and business trust. Clause 223 of the Bill provides for special taxation regime for Infrastructure Investment Trust under the Securities and Exch....
Clause 224	:	Tax on income of investment fund and its unit holders. Clause 224 of the Bill provides for special taxation regime for income of investment fund and its unit holders.....
Part: G
Special provisions relating to income of shipping companies
Clause 225	:	Income from business of operating qualifying ships. Clause 225 of the Bill seeks to provide for income from the business of operating qualifying ships and the option to tax paye....
Clause 226	:	Tonnage tax scheme. Clause 226 of the Bill seeks to provide for tonnage tax scheme and defines that a company operating ships and giving the mann....
Clause 227	:	Computation of tonnage income. Clause 227 of the Bill seeks to provide for computation of tonnage income.....
Clause 228	:	Relevant shipping income and exclusion from book profit. Clause 228 of the Bill seeks to provide for relevant shipping income and exclusion from book profit.....
Clause 229	:	Depreciation and gains relating to tonnage tax assets. Clause 229 of the Bill provides for manner of calculation of depreciation along with treatment of capital gains in case of th....
Clause 230	:	Exclusion of deduction, loss, set off etc., Clause 230 of the Bill seeks to provide for general exclusion of losses, deductions and set off including the accrued losses ....
Clause 231	:	Method of opting of tonnage tax scheme and validity. Clause 231 of the Bill seeks to provide for the method of opting of tonnage tax scheme and validity.....
Clause 232	:	Certain conditions for applicability of tonnage tax scheme. Clause 232 of the Bill seeks to provide for certain conditions for applicability of tonnage tax scheme.....
Clause 233	:	Amalgamation and demerger. Clause 233 of the Bill seeks to provide for continuance of and validity of the scheme in the case of amalgamation and demerge....
Clause 234	:	Avoidance of tax and exclusion from tonnage tax scheme. Clause 234 of the Bill seeks to provide for avoidance of tax and exclusion from tonnage tax scheme in case of abuse of the pr....
Clause 235	:	Interpretation. Clause 235 of the Bill provides for definition of certain terms relating to tonnage tax scheme.....
Chapter: XIV
TAX ADMINISTRATION
Part: A
Authorities, jurisdiction and functions
Clause 236	:	Income-tax authorities. Clause 236 of the Bill provides for various classes of income-tax authorities beginning from, the Central Board of Direct Tax....
Clause 237	:	Appointment of income-tax authorities. Clause 237 of the Bill seeks to provide for the appointment of income-tax authorities by the Central Government by framing ru....
Clause 238	:	Control of income-tax authorities. Clause 238 of the Bill provides for the income-tax authorities to be subordinate to another income-tax authorities as per the....
Clause 239	:	Instructions to subordinate authorities. Clause 239 of the Bill provides for the power of the Board to issue orders, instructions and directions to other income-tax a....
Clause 240	:	Taxpayer’s Charter. Clause 240 of the Bill empowers the Board towards administration of Charter for Taxpayers.....
Clause 241	:	Jurisdiction of income-tax authorities. Clause 241 of the Bill provides for the power and performance of the income-tax authorities in accordance with such direction....
Clause 242	:	Jurisdiction of Assessing Officers. Clause 242 of the Bill provides for jurisdiction of Assessing Officers over an area.....
Clause 243	:	Power to transfer cases. Clause 243 of the Bill provides for the power of the specified income-tax authority to transfer any case from one Assessing O....
Clause 244	:	Change of incumbent of an office. Clause 244 of the Bill provides for the jurisdiction of the succeeding income-tax authority to continue with any proceeding f....
Clause 245	:	Faceless jurisdiction of income-tax authorities. Clause 245 of the Bill seeks to provide for the faceless jurisdiction of the income-tax authorities who will exercise all pow....
Part: B
Powers
Clause 246	:	Power regarding discovery, production of evidence, etc. Clause 246 of the Bill seeks to provide for powers of income tax authorities regarding discovery or production of evidence et....
Clause 247	:	Search and seizure. Clause 247 of the Bill provides for dealing with powers and procedures relating to search and seizure under the proposed legi....
Clause 248	:	Powers to requisition. Clause 248 of the Bill provides for powers to requisition books of account, etc., which have been taken into custody by any o....
Clause 249	:	Reasons not to be disclosed. Clause 249 of the Bill provides for reasons for search and seizure not to be disclosed.....
Clause 250	:	Application of seized or requisitioned assets. Clause 250 of the Bill seeks to provide for application of seized or requisitioned assets under the provisions of the propose....
Clause 251	:	Copying, extraction, retention and release of books of account and documents seized or requisitioned. Clause 251 of the Bill seeks to provide for authority and procedures to deal with books of accounts and documents seized or r....
Clause 252	:	Power to call for information. Clause 252 of the Bill provides for power to call for information of the income-tax authorities to call for information.....
Clause 253	:	Powers of survey. Clause 253 of the Bill provides for powers of survey, i.e., entry into business premises of an assessee, restrictions imposed....
Clause 254	:	Power to collect certain information. Clause 254 of the Bill seeks to provide for powers of authorities to collect certain information which may be useful, or rele....
Clause 255	:	Power to inspect registers of companies. Clause 255 of the Bill seeks to provide for power to inspect registers of companies by income-tax authorities.....
Clause 256	:	Power of competent authority. Clause 256 of the Bill seeks to provide for the powers of Assessing Officer under the proposed legislation in relation to mak....
Clause 257	:	Proceedings before income-tax authorities to be judicial proceedings. Clause 257 of the Bill provides to treat proceedings before the income-tax authorities at par with the judicial proceedings.....
Clause 258	:	Disclosure of information relating to assessees. Clause 258 of the Bill provides for restrictions on disclosure of information in respect of assessees by income-tax authoriti....
Clause 259	:	Power to call for information by prescribed income-tax authority. Clause 259 of the Bill provides the power of income-tax authority to call for information by prescribed income-tax authority.....
Clause 260	:	Faceless collection of information. Clause 260 of the Bill empowers the Board to make any scheme by notification for faceless collection of information under cer....
Clause 261	:	Interpretation. Clause 261 of the Bill provides for definitions of various expressions used in this Chapter XIV.....
Chapter: XV
RETURN OF INCOME
Part: A
Allotment of Permanent Account Number
Clause 262	:	Permanent Account Number. Clause 262 of the Bill seeks to provide for obtaining and quoting of Permanent Account Number and linking of Aadhar Number to....
Part: B
Filing of return of income and processing
Clause 263	:	Return of income. Clause 263 of the Bill provides for obligation of persons to file return of income and timelines for filing of return of inco....
Clause 264	:	Scheme for submission of returns through tax return preparers. Clause 264 of the Bill seeks to provide for scheme for submission of return through Tax Return Preparer.....
Clause 265	:	Return by whom to be verified. Clause 265 of the Bill seeks to provide for verification of returns of income by assessee and the persons competent to verify....
Clause 266	:	Self-assessment. Clause 266 of the Bill provides for payment of tax together with interest and fee while filing return of income.....
Clause 267	:	Tax on updated return. Clause 267 of the Bill provides for payment of self-assessment tax on updated return along with the interest and fee payable.....
Chapter: XVI
PROCEDURE FOR ASSESSMENT
Part: A
Procedure for assessment
Clause 268	:	Inquiry before assessment. Clause 268 of the Bill seeks to provide for inquiry before assessment, to call for statement of all assets and liabilities an....
Clause 269	:	Estimation of value of assets by Valuation Officer. Clause 269 of the Bill seeks to provide for making a reference by Assessing Officer to a Valuation Officer to estimate the fa....
Clause 270	:	Assessment. Clause 270 of the Bill seeks to provide for processing of returns filed and the powers to make prima facie adjustments and al....
Clause 271	:	Best judgment assessment. Clause 271 of the Bill seeks to provide for completion of assessment to the best of judgment of the assessing officer.....
Clause 272	:	Power of Joint Commissioner to issue directions in certain cases. Clause 272 of the Bill empowers the Joint Commissioner to issue directions to the assessing officer during assessment proceed....
Clause 273	:	Faceless Assessment. Clause 273 of the Bill seeks to provide for faceless assessment of eligible cases assigned by National Faceless Assessment Ce....
Clause 274	:	Reference to Principal Commissioner or Commissioner in certain cases. Clause 274 of the Bill seeks to provide for making a reference by Assessing Officer to the Principal Commissioner or Commissi....
Clause 275	:	Reference to Dispute Resolution Panel. Clause 275 of the Bill provides for scheme for reference to the Dispute Resolution Panel.....
Clause 276	:	Method of accounting. Clause 276 of the Bill seeks to provide for method of accounting to be followed for computation of income under the heads Pro....
Clause 277	:	Method of accounting in certain cases. Clause 277 of the Bill seeks to provide for valuation of inventory and securities as per income computation and disclosure st....
Clause 278	:	Taxability of certain income. Clause 278 of the Bill seeks to provide for taxability of interest, compensation or enhanced compensation and escalation clai....
Clause 279	:	Income escaping assessment. Clause 279 of the Bill seeks to provide for assessment of any income chargeable to tax which has escaped assessment.....
Clause 280	:	Issue of notice. Clause 280 of the Bill seeks to provide for issue of notice where income has escaped assessment.....
Clause 281	:	Procedure before issuance of notice under section 280. Clause 281 of the Bill seeks to provide for procedure to be followed before issuance of notice under clause 280.....
Clause 282	:	Time limit for notices under sections 280 and 281. Clause 282 of the Bill provides for time limit for notices in the cases of income escaping assessment.....
Clause 283	:	Provision for cases where assessment is in pursuance of an order on appeal, etc. Clause 283 of the Bill seeks to provide provision for cases where assessment is in pursuance of an order on appeal, direction....
Clause 284	:	Sanction for issue of notice. Clause 284 of the Bill provides for sanction for issue of notice in cases of income escaping assessment.....
Clause 285	:	Other provisions. Clause 285 of the Bill provides for other provisions pertaining to assessment or re-assessment or re-computation made.....
Clause 286	:	Time limit for completion of assessment, reassessment and recomputation. Clause 286 of the Bill provides for time limits for completion of assessment, re-assessment and re-computation in various sit....
Clause 287	:	Rectification of mistake. Clause 287 of the Bill provides for rectifying any mistake apparent on the face of the record by amending orders passed by an....
Clause 288	:	Other amendments. Clause 288 of the Bill provides for time limits for passing of rectification orders in certain cases.....
Clause 289	:	Notice of demand. Clause 289 of the Bill provides for notice of demand payable (tax, interest, penalty, fine or any other sum).....
Clause 290	:	Modification and revision of notice in certain cases. Clause 290 of the Bill provides for modification and revision of demand notice issued in certain cases.....
Clause 291	:	Intimation of loss. Clause 291 of the Bill seeks to provide for intimation of loss the purposes of carrying forward and set-off of such losses.....
Part: B
Special procedure for assessment of search cases
Clause 292	:	Assessment of income pertaining to the block period. Clause 292 of the Bill provides for scheme of block assessment in a search case.....
Clause 293	:	Computation of total income of block period. Clause 293 of the Bill provides for computation of total income of block period in search cases.....
Clause 294	:	Procedure for block assessment. Clause 294 of the Bill seeks to provide procedure for block assessment.....
Clause 295	:	Undisclosed income of any other person. Clause 295 of the Bill seeks to provide for procedure for block assessment of any other person in search cases.....
Clause 296	:	Time-limit for completion of block assessment. Clause 296 of the Bill seeks to provide time limit for completion of block assessment.....
Clause 297	:	Certain interests and penalties not to be levied or imposed. Clause 297 of the Bill seeks to provide that certain interests and penalties not to be imposed in case of assessment of searc....
Clause 298	:	Levy of interest and penalty incertain cases. Clause 298 of the Bill seeks to provide for levy of interest and penalty in search cases.....
Clause 299	:	Authority competent to make assessment of block period. Clause 299 of the Bill seeks to provide authorities competent to make assessments of block period.....
Clause 300	:	Application of other provisions of Act. Clause 300 of the Bill provides for saving clause with respect to application of other provisions of the Act.....
Clause 301	:	Interpretation. Clause 301 of the Bill provides for interpretation of various expressions related to assessment of search cases.....
Chapter: XVII
SPECIAL PROVISIONS RELATING TO CERTAIN PERSONS
Part: 1.
Legal representatives
Clause 302	:	Legal representative. Clause 302 of the Bill provides for tax liability of the legal representative in the event of the demise of the assessee.....
Part: 2.
Representative assesses—General provisions
Clause 303	:	Representative assessee. Clause 303 of the Bill explains the concept of representative assessee for the income of a non-resident or trust or minor, lu....
Clause 304	:	Liability of representative assessee. Clause 304 of the Bill provides for the responsibility of the representative assessee and taxation of income received in the ....
Clause 305	:	Right of representative assessee to recover tax paid. Clause 305 of the Bill deals with the rights of the representative assessee to recover the taxes paid by him in his capacity ....
Part: 3.
Representative assesses—Special cases
Clause 306	:	Who may be regarded as agent. Clause 306 of the Bill seeks to deal with persons to act as an agent in relation to a non-resident.....
Clause 307	:	Charge of tax where share of beneficiaries unknown. Clause 307 of the Bill seeks to provide for the charge of tax of certain representative assesses in a situation where the sha....
Clause 308	:	Charge of tax in case of oral trust. Clause 308 of the Bill provides for charge of tax in case of oral trust.....
Part: 4.
Association of persons and body of individuals
Clause 309	:	Method of computing a member’s share in income of association of persons or body of individuals. Clause 309 of the Bill seeks to provide for the method of computing a member s share in income of association of persons or b....
Clause 310	:	Share of member of association of persons or body of individuals in income of association or body. Clause 310 of the Bill deals with share of member of an association of persons or body of individuals in income of associatio....
Clause 311	:	Charge of tax where shares of members in association of persons or body of individuals unknown, etc. Clause 311 of the Bill seeks to provide for charge of tax in the hands of the association of persons or body of individuals w....
Part: 5.
Executors
Clause 312	:	Executor. Clause 312 of the Bill seeks to provide for the chargeability of tax on the income of the estate of the deceased in the hands....
Part: 6.
Succession to business or profession
Clause 313	:	Succession to business or profession otherwise than on death. Clause 313 of the Bill seeks to deal with the assessment of the income and the taxability of the same pertaining to a busines....
Clause 314	:	Effect of order of tribunal or court in respect of business reorganisation. Clause 314 of the Bill seeks to deal with effect of order of tribunal or court in respect of business reorganisation in cases....
Part: 7.
Partition
Clause 315	:	Assessment after partition of Hindu undivided family. Clause 315 of the Bill seeks to deal with assessment of the income of a Hindu undivided family where a partition has taken pl....
Part: 8.
Profits of non-residents from occasional shipping business
Clause 316	:	Shipping business of non-residents. Clause 316 of the Bill provides for levy and recovery of tax in the case of any ship, belonging to or chartered by a non-resi....
Part: 9.
Persons leaving India
Clause 317	:	Assessment of persons leaving India. Clause 317 of the Bill provides for taxability of income of any individual who may leave India.....
Part: 10.
Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose
Clause 318	:	Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose. Clause 318 of the Bill seeks to provide for the taxation of the income of association of persons or body of individuals or ar....
Part: 11.
Persons trying to alienate their assets
Clause 319	:	Assessment of persons likely to transfer property to avoid tax. Clause 319 of the Bill provides for assessment of the income of persons who are likely to transfer any property with a view t....
Part: 12.
Discontinuance of business, or dissolution
Clause 320	:	Discontinued business. Clause 320 of the Bill seeks to provide for accelerated assessment in cases of discontinuance of business or profession in an....
Clause 321	:	Association dissolved or business discontinued. Clause 321 of the Bill seeks to provide for chargeability of any liability under the proposed legislation in cases of discont....
Clause 322	:	Company in liquidation. Clause 322 of the Bill provides for the procedures to be followed by companies in liquidation and the responsibilities of the....
Part: 13.
Private companies
Clause 323	:	Liability of directors of private company. Clause 323 of the Bill seeks to provide for the liability of the directors of a private company on tax and other dues as per ....
Part: 14.
Assessment of firms
Clause 324	:	Charge of tax in case of a firm. Clause 324 of the Bill seeks to provide for the charge of tax in case of a firm.....
Clause 325	:	Assessment as a Firm. Clause 325 of the Bill deals with the provisions of assessment of a partnership firm including compliances to certain conditi....
Clause 326	:	Assessment when section 325 not complied with. Clause 326 of the Bill deals with consequences in the assessment of a partnership firm in case of non-compliance to the condi....
Part: 15.
Change in constitution, succession and dissolution
Clause 327	:	Change in constitution of a firm. Clause 327 of the Bill seeks to provide for assessment of a partnership firm in cases where there is a change in constitution....
Clause 328	:	Succession of one firm by another firm. Clause 328 of the Bill provides for taxation in the hands of the predecessor and successor in the case of succession of one f....
Clause 329	:	Joint and several liability of partners for tax payable by firm. Clause 329 of the Bill seeks to provide for joint and several liability of partners for tax payable by firm.....
Clause 330	:	Firm dissolved or business discontinued. Clause 330 of the Bill seeks to provide for assessment and liability in the hands of the firm even after its dissolution or d....
Part: 16.
Liability of partners of limited liability partnership in liquidation
Clause 331	:	Liability of partners of limited liability partnership in liquidation. Clause 331 of the Bill provides for joint and several liability of partners of a limited liability partnership in liquidation....
Part: 1.
Registration
Clause 332	:	Application for registration. Clause 332 of the Bill provides for provisions related to registration of non-profit organisation.....
Clause 333	:	Switching over of regimes. Clause 333 of the Bill seeks to provide provision related to switching over of regimes by a registered non-profit organisatio....
Part: 2.
Income of registered non-profit organisation
Clause 334	:	Tax on income of registered non-profit organisation. Clause 334 of the Bill seeks to provide taxability of income of a registered non-profit organisation.....
Clause 335	:	Regular income. Clause 335 of the Bill provides the meaning of regular income of a registered non-profit organisation.....
Clause 336	:	Taxable regular income. Clause 336 of the Bill seeks to deal with the taxable regular income of a registered non-profit organisation.....
Clause 337	:	Specified income. Clause 337 of the Bill provides for the provisions related to specified income of a registered non-profit organisation.....
Clause 338	:	Income not to be included in regular income. Clause 338 of the Bill seeks to provide for the provisions related to income not to be included in regular income of a regist....
Clause 339	:	Corpus donation. Clause 339 of the Bill provides for the meaning of corpus donation of a registered non-profit organisation.....
Clause 340	:	Deemed corpus donation. Clause 340 of the Bill provides for the provision related to deemed corpus donation of a registered non-profit organisation.....
Clause 341	:	Application of income. Clause 341 of the Bill provides for the provision related to application of income of a registered non-profit organisation.....
Clause 342	:	Accumulated income. Clause 342 of the Bill seeks to provide the provision related to accumulated income of a registered non-profit organisation.....
Clause 343	:	Deemed accumulated income. Clause 343 of the Bill provides for the provisions related to deemed accumulated income of a registered non-profit organisati....
Chapter: 3.
Commercial activities by registered non-profit organisation
Clause 344	:	Business undertaking held as property. Clause 344 of the Bill seeks to provide for the provisions related to business undertaking held as property of a registered n....
Clause 345	:	Restriction on commercial activities by a registered non-profit organisation. Clause 345 of the Bill seeks to provide the provision related to restriction on commercial activities of a registered non-pro....
Clause 346	:	Restriction on commercial activities by registered non-profit organisation, carrying out advancement of any other object of general public utility. Clause 346 of the Bill seeks to provide for the provisions relating to restriction on commercial activities of a registered n....
Part: 4.
Compliances
Clause 347	:	Books of account. Clause 347 of the Bill provides for provision related to books of account of a registered non-profit organisation.....
Clause 348	:	Audit. Clause 348 of the Bill seeks to provide the provision related to audit of a registered non-profit organisation.....
Clause 349	:	Return of income. Clause 349 of the Bill seeks to provide the provision related to return of income of a registered non-profit organisation.....
Clause 350	:	Permitted modes of investment. Clause 350 of the Bill seeks to provide provision related to permitted modes of investment.....
Part: 5.
Violations
Clause 351	:	Specified violation. Clause 351 of the Bill seeks to provide provisions related to specified violation of a registered non-profit organisation.....
Clause 352	:	Tax on accreted income. Clause 352 of the Bill seeks to provide provision related to tax on accreted income of a registered non-profit organisation.....
Clause 353	:	Other violations. Clause 353 of the Bill seeks to provide provision related to other violations of a registered non-profit organisation.....
Part: 6.
Approval for purpose of deduction under section 133(1)(b)(ii)
Clause 354	:	Application for approval for purpose of section 133(1)(b)(ii). Clause 354 of the Bill seeks to provide provisions related to approval for purpose of exemption on donation.....
Part: 7.
Interpretation
Clause 355	:	Interpretation. Clause 355 of the Bill seeks to provide the meaning of different terms used in this Chapter.....
Chapter: XVIII
APPEALS, REVISION AND ALTERNATE DISPUTE RESOLUTIONS
Part: 1.
Appeals to Joint Commissioner (Appeals) and Commissioner (Appeals)
Clause 356	:	Appealable orders before Joint Commissioner (Appeals). Clause 356 of the Bill seeks to provide for appeals to Joint Commissioner (Appeals) against certain orders.....
Clause 357	:	Appealable orders before Commissioner (Appeals). Clause 357 of the Bill seeks to provide for appeals to Commissioner (Appeals) against certain orders.....
Clause 358	:	Form of appeal and limitation. Clause 358 of the Bill seeks to provide for form of appeal and limitation.....
Clause 359	:	Procedure in appeal. Clause 359 of the Bill seeks to provide for procedure in appeal.....
Clause 360	:	Powers of Joint Commissioner (Appeals) or Commissioner (Appeals). Clause 360 of the Bill deal with the powers of Joint Commissioner (Appeals) and the Commissioner (Appeals).....
Part: 2.
Appeals to Appellate Tribunal
Clause 361	:	Appellate Tribunal. Clause 361 of the Bill provides for constitution of Income tax Appellate Tribunal.....
Clause 362	:	Appeals to Appellate Tribunal. Clause 362 of the Bill seeks to provide for appeals to the Income tax Appellate Tribunal.....
Clause 363	:	Orders of Appellate Tribunal. Clause 363 of the Bill seeks to provide for the orders passed by the Income tax Appellate Tribunal.....
Clause 364	:	Procedure of Appellate Tribunal. Clause 364 of the Bill seeks to provide for the powers and functions of the Income tax Appellate Tribunal.....
Part: 3.
Appeals to High Court.
Clause 365	:	Appeal to High Court. Clause 365 of the Bill seeks to provide for appeals to the High Court.....
Clause 366	:	Case before High Court to be heard by not less than two Judges. Clause 366 of the Bill provide for appeals to the High Court to be heard by not less than two Judges.....
Part: 4.
Appeals to Supreme Court.
Clause 367	:	Appeal to Supreme Court. Clause 367 of the Bill seeks to provide for appeals to Supreme Court.....
Clause 368	:	Hearing before Supreme Court. Clause 368 of the Bill seeks to provide for hearing before the Supreme Court.....
Part: 5.
General
Clause 369	:	Tax to be paid irrespective of appeal, etc. Clause 369 of the Bill seeks to provide that tax to be paid irrespective of filing of appeal before High Court or Supreme Cou....
Clause 370	:	Execution for costs awarded by Supreme Court. Clause 370 of the Bill seeks to provide for execution for costs awarded by Supreme Court.....
Clause 371	:	Amendment of assessment on appeal. Clause 371 of the Bill provides for amendment of assessment on account of appeal in certain cases.....
Clause 372	:	Exclusion of time taken for copy. Clause 372 of the Bill seeks to provide for exclusion of time taken to obtain copy of the order.....
Clause 373	:	Filing of appeal or by income-tax authority. Clause 373 of the Bill seeks to provide for filing of appeals by income tax authority and empowers Board to issue instruction....
Clause 374	:	Interpretation of “High Court”. Clause 374 of the Bill provides for the definition of High Court for the purpose of filing of appeal under this Chapter.....
Part: B
Special provisions for avoiding repetitive appeals
Clause 375	:	Procedure when assessee claims identical question of law is pending before High Court or Supreme Court. Clause 375 of the Bill provides for procedure when assessee claims identical question of law is pending before High Court or ....
Clause 376	:	Procedure where an identical question of law is pending before High Courts or Supreme Court. Clause 376 of the Bill seeks to prescribe procedure where an identical question of law is pending before High Courts or Supre....
Part: C
Revision by the Principal Commissioner or Commissioner.
Clause 377	:	Revision of orders prejudicial to revenue. Clause 377 of the Bill provides for revision of orders prejudicial to Revenue by Principal Commissioner or Commissioner.....
Clause 378	:	Revision of other orders. Clause 378 of the Bill seeks to provide for revision of orders in certain cases which are not prejudicial to revenue.....
Part: 1.
Dispute Resolution Committee in certain cases
Clause 379	:	Dispute Resolution Committee. Clause 379 of the Bill provides for constitution of Dispute Resolution Committee to resolve disputes in certain cases.....
Part: 2.
Advance rulings
Clause 380	:	Interpretation. Clause 380 of the Bill seeks to define certain expressions used in the context of Advance Rulings.....
Clause 381	:	Board for Advance Rulings. Clause 381 of the Bill provides for constitution of Board for Advance Rulings.....
Clause 382	:	Vacancies, etc., not to invalidate proceedings. Clause 382 of the Bill seeks to deal with proceedings in case of vacancies in the Board for Advance Rulings.....
Clause 383	:	Application for advance ruling. Clause 383 of the Bill provides for filing of application before the Board for Advance Rulings.....
Clause 384	:	Procedure on receipt of application. Clause 384 of the Bill seeks to provide for procedure to process the application made for advance rulings.....
Clause 385	:	Appellate authority not to proceed in certain cases. Clause 385 of the Bill seeks to provide that certain authorities not to proceed to decide in certain cases where application ....
Clause 386	:	Advance ruling to be void in certain circumstances. Clause 386 of the Bill seeks to provide that advance ruling to be void in certain circumstances.....
Clause 387	:	Powers of the Board for Advance Rulings. Clause 387 of the Bill seeks to provide for powers of the Board for Advance Rulings.....
Clause 388	:	Procedure of Board for Advance Rulings. Clause 388 of the Bill seeks to empower the Board for Advance Rulings to regulate its own procedure.....
Clause 389	:	Appeal. Clause 389 of the Bill provides for appeal to High Court on the rulings pronounced by the Board for Advance Rulings.....
Chapter: XIX
COLLECTION AND RECOVERY OF TAX
Part: A
General
Clause 390	:	Deduction or collection at source and advance payment. Clause 390 of the Bill provides for the provisions relating to tax deduction at source, tax collection at source, advance pay....
Clause 391	:	Direct payment. Clause 391 of the Bill provides for provisions relating to direct payment of tax by assessee in certain conditions.....
Part: B
Deduction and collection at source
Clause 392	:	Salary and accumulated balance due to an employee. Clause 392 of the Bill provides for provisions relating to tax deduction at source on salary and accumulated balance to an em....
Clause 393	:	Tax to be deducted at source. Clause 393 of the Bill provides for provisions relating to tax deduction at source on various payments.....
Clause 394	:	Collection of tax at source. Clause 394 of the Bill provides for provisions relating to tax collection at source on various transactions.....
Clause 395	:	Certificates. Clause 395 of the Bill provides for provisions relating to issuance of certificate for lower deduction of tax.....
Clause 396	:	Tax deducted is income received. Clause 396 of the Bill seeks to provide the certain sums which shall be deemed as income received for the purposes of computi....
Clause 397	:	Compliance and reporting. Clause 397 of the Bill seeks to provide for compliance and reporting requirements for tax deduction at source and tax collect....
Clause 398	:	Consequences of failure to deduct or pay or, collect or pay. Clause 398 of the Bill seeks to provide for consequence for failure to deduct or collect or pay tax.....
Clause 399	:	Processing. Clause 399 of the Bill seeks to provide for processing of statements of tax deduction at source and tax collection at source ....
Clause 400	:	Power of Central Government to relax provisions of this Chapter. Clause 400 of the Bill empowers the Central Government to relax the provisions of tax deduction at source and tax collection ....
Clause 401	:	Bar against direct demand on assessee. Clause 401 of the Bill seeks to provide for provisions relating to bar against the demand on assessee to the extent tax has b....
Clause 402	:	Interpretation. Clause 402 of the Bill seeks to provides for definition of certain expressions used in the chapter of collection and recovery....
Part: C
Advance payment of tax
Clause 403	:	Liability for payment of advance tax. Clause 403 of the Bill seeks to provide for liability for payment of advance tax during the tax year in respect of total inco....
Clause 404	:	Conditions of liability to pay advance tax. Clause 404 of the Bill seeks to provide for conditions where assessee shall be required to pay advance tax.....
Clause 405	:	Computation of advance tax. Clause 405 of the Bill seeks to provides for the provisions relating to the method for computation of advance tax payable in ....
Clause 406	:	Payment of advance tax by assessee on his own accord. Clause 406 of the Bill seeks to provide for payment of advance tax by assessee on his own accord.....
Clause 407	:	Payment of advance tax by assessee in pursuance of order of Assessing Officer. Clause 407 of the Bill provides for payment of advance tax by an assessee in pursuance of an order of the Assessing Officer.....
Clause 408	:	Instalments of advance tax and due dates. Clause 408 of the Bill provides for payment of advance tax in four instalments and by the due dates as made by the rules.....
Clause 409	:	When assessee is deemed to be in default. Clause 409 of the Bill seeks to provide for deeming an assessee to be in default for failure to pay advance tax as per the or....
Clause 410	:	Credit for advance tax. Clause 410 of the Bill seeks to provide for giving credit for advance tax paid by or recovered from an assessee as a payment ....
Part: D
Collection and recovery
Clause 411	:	When tax payable and when assessee deemed in default. Clause 411 of the Bill seeks to provide for the provisions relating to notice of demand, tax payable and when assessee is dee....
Clause 412	:	Penalty payable when tax in default. Clause 412 of the Bill seeks to provide for penalty which shall be payable when assessee is in tax default.....
Clause 413	:	Certificate by Tax Recovery Officer and Validity thereof. Clause 413 of the Bill seeks to provide for drawing up of a certificate in respect of an assessee in default by the Tax Recov....
Clause 414	:	Tax Recovery Officer by whom recovery is to be effected. Clause 414 of the Bill seeks to specify the Tax Recovery Officer by whom recovery is to be effected.....
Clause 415	:	Stay of proceedings in pursuance of certificate and amendment or cancellation thereof. Clause 415 of the Bill empowers the Tax Recovery Officer to stay the recovery proceedings of his own accord or in pursuance o....
Clause 416	:	Other modes of recovery. Clause 416 of the Bill empowers the Assessing Officer with modes of recovery where no certificate is drawn up by the Tax Reco....
Clause 417	:	Recovery through State Government. Clause 417 of the Bill provides for recovery of tax through State Government in any area where recovery of tax has been entru....
Clause 418	:	Recovery of tax in pursuance of agreements with foreign countries. Clause 418 of the Bill provides for recovery of tax on behalf of the Government of any foreign country under an agreement bet....
Clause 419	:	Recovery of penalties, fine, interest and other sums. Clause 419 of the Bill provides for the provisions relating to recovery of penalties, fine, interest and other sums in the sa....
Clause 420	:	Tax clearance certificate. Clause 420 of the Bill seeks to provide for the requirement of a no objection certificate to be issued by the prescribed auth....
Clause 421	:	Recovery by suit or under other law not affected. Clause 421 of the Bill seeks to provide that recovery by suit or under other law will not be affected notwithstanding tax due....
Clause 422	:	Recovery of tax arrear in respect of non-resident from his assets. Clause 422 of the Bill seeks to provide for recovery of tax arrears from a non-resident from his assets.....
Part: E
Interest chargeable in certain cases
Clause 423	:	Interest for defaults in furnishing return of income. Clause 423 of the Bill seeks to provide that the assessee shall be liable to pay interest for default in furnishing return of....
Clause 424	:	Interest for defaults in payment of advance tax. Clause 424 of the Bill seeks to provide that the assessee shall be liable to pay interest for failure to pay advance tax or w....
Clause 425	:	Interest for deferment of advance tax. Clause 425 of the Bill seeks to provide that the assessee shall be liable to pay interest for failure to pay full amount of a....
Clause 426	:	Interest on excess refund. Clause 426 of the Bill seeks to provide that the assessee shall be liable to pay interest on any amount refunded to him in ex....
Part: F
Levy of fee in certain cases
Clause 427	:	Fee for default in furnishing statements. Clause 427 of the Bill seeks to provide that the assessee shall be liable to pay fee of for delay in furnishing of statement ....
Clause 428	:	Fee for default in furnishing return of income. Clause 428 of the Bill seeks to provide that the assessee shall be liable to pay a fee for failure to furnish a return of inc....
Clause 429	:	Fee for default relating to statement or certificate. Clause 429 of the Bill seeks to provide that the assessee shall be liable to pay a fee of for delay in furnishing of prescrib....
Clause 430	:	Fee for default relating to intimation of aadhaar number. Clause 430 of the Bill seeks to provide that the assessee shall be liable to pay a fee for failure to intimate his Aadhaar nu....
Chapter: XX
REFUNDS
Clause 431	:	Refunds. Clause 431 of the Bill provides for refund of excess amount paid by an assessee where the tax paid is more than the tax actua....
Clause 432	:	Person entitled to claim refund in certain special cases. Clause 432 of the Bill provides that the legal representative or the trustee or guardian or receiver, to claim or receive ref....
Clause 433	:	Form of claim for refund and limitation. Clause 433 of the Bill seeks to provide that every claim of refund shall be made by furnishing a return of income.....
Clause 434	:	Refund for denying liability to deduct tax in certain cases. Clause 434 of the Bill seeks to provide for refund of tax deducted and paid to the Central Government by a person by whom the....
Clause 435	:	Refund on appeal, etc. Clause 435 of the Bill seeks to provide that the Assessing Officer shall refund any amount becoming due to the assessee as a ....
Clause 436	:	Correctness of assessment not to be questioned. Clause 436 of the Bill seeks to provide that the assessee shall not be entitled to question the correctness of any assessment....
Clause 437	:	Interest on refunds. Clause 437 of the Bill seeks to provide that the assessee shall be entitled to receive interest in addition to the refund due....
Clause 438	:	Set off and withholding of refunds in certain cases. Clause 438 of the Bill seeks to provide for setting off the amount to be refunded or any part of that amount, against any sum....
Chapter: XXI
PENALTIES
Clause 439	:	Penalty for under-reporting and misreporting of income. Clause 439 of the Bill seeks to impose penalty for under-reporting and mis-reporting of income.....
Clause 440	:	Immunity from imposition of penalty, etc. Clause 440 of the Bill deals with the conditions and circumstances under which immunity from imposition of penalty and initia....
Clause 441	:	Failure to keep, maintain or retain books of account, documents, etc. Clause 441 of the Bill seeks to impose penalty for failure to keep, maintain or retain books of account, documents, etc.....
Clause 442	:	Penalty for failure to keep and maintain information and document, etc., in respect of certain transactions. Clause 442 of the Bill seeks to impose penalty for failure to keep and maintain information and document, etc., in respect of....
Clause 443	:	Penalty in respect of certain income. Clause 443 of the Bill seeks to provide for imposition of penalty, if the income which includes any cash credits, unexplained....
Clause 444	:	Penalty for false entry, etc., in books of account. Clause 444 of the Bill seeks to impose penalty for false entry or omitted entry in the books of account.....
Clause 445	:	Benefits to related persons. Clause 445 of the Bill seeks to impose penalty for violation of certain provisions by specified persons.....
Clause 446	:	Failure to get accounts audited. Clause 446 of the Bill seeks to provide for imposition of penalty for failure to get accounts audited.....
Clause 447	:	Penalty for failure to furnish report under section 172. Clause 447 of the Bill seeks to provide for imposition of penalty for failure to furnish a report from an accountant as requi....
Clause 448	:	Penalty for failure to deduct tax at source. Clause 448 of the Bill seeks to provide for imposition of penalty for failure to deduct tax at source.....
Clause 449	:	Penalty for failure to collect tax at source. Clause 449 of the Bill seeks to provide for imposition of penalty for failure to collect tax at source.....
Clause 450	:	Penalty for failure to comply with provisions of section 185. Clause 450 of the Bill provides for imposition of penalty if a person takes or accepts any loan or deposit or specified sum i....
Clause 451	:	Penalty for failure to comply with provisions of section 186. Clause 451 of the Bill provides for imposition of penalty for failure to comply with the provisions of clause 186.....
Clause 452	:	Penalty for failure to comply with provisions of section 187. Clause 452 of the Bill provides for imposition of penalty for failure to comply with the provisions of clause 187.....
Clause 453	:	Penalty for failure to comply with provisions of section 188. Clause 453 of the Bill provides for imposition of penalty for failure to comply with the provision of clause 188.....
Clause 454	:	Penalty for failure to furnish statement of financial transaction or reportable account. Clause 454 of the Bill seeks to provide for imposition of penalty for failure to furnish statement of financial transaction o....
Clause 455	:	Penalty for furnishing inaccurate statement of financial transaction or reportable account. Clause 455 of the Bill seeks to provide for imposition of penalty for furnishing inaccurate statement of financial transactio....
Clause 456	:	Penalty for failure to furnish statement or information or document by an eligible investment fund. Clause 456 of the Bill seeks to provide for imposition of penalty for failure to furnish statement or information or document....
Clause 457	:	Penalty for failure to furnish information or document under section 171. Clause 457 of the Bill seeks to provide for imposition of penalty for failure to furnish statement or information or document....
Clause 458	:	Penalty for failure to furnish information or document under section 506. Clause 458 of the Bill seeks to provide for imposition of penalty for failure to furnish information or document under clause....
Clause 459	:	Penalty for failure to furnish report or for furnishing inaccurate report under section 511. Clause 459 of the Bill seeks to provide for imposition of penalty for failure to furnish report or for furnishing inaccurate ....
Clause 460	:	Penalty for failure to submit statement under section 505. Clause 460 of the Bill seeks to provide for imposition of penalty for failure to submit statement under clause 505.....
Clause 461	:	Penalty for failure to furnish statements, etc. Clause 461 of the Bill seeks to provide for imposition of penalty for failure to submit statement as required under clause 39....
Clause 462	:	Penalty for failure to furnish information or furnishing inaccurate information under section 397 (3)(d). Clause 462 of the Bill seeks to provide for imposition of penalty for failure to furnish information or furnishing inaccurate....
Clause 463	:	Penalty for furnishing incorrect information in reports or certificates. Clause 463 of the Bill seeks to provide for imposition of penalty for furnishing incorrect information in reports or certific....
Clause 464	:	Penalty for failure to furnish statements, etc. Clause 464 of the Bill seeks to provide for imposition of penalty for failure to furnish statements by certain institutions o....
Clause 465	:	Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc. Clause 465 of the Bill seeks to provide for imposition of penalty for failure to answer questions, sign statements, furnish i....
Clause 466	:	Penalty for failure to comply with the provisions of section 254. Clause 466 of the Bill seeks to provide for imposition of penalty for failure to comply with the provisions of clause 254.....
Clause 467	:	Penalty for failure to comply with the provisions of section 262. Clause 467 of the Bill seeks to provide for imposition of penalty for failure to comply with the provisions of clause 262.....
Clause 468	:	Penalty for failure to comply with the provisions of section 397(1). Clause 468 of the Bill seeks to provide for imposition of penalty for failure to comply with the provisions of clause 397(1).....
Clause 469	:	Power to reduce or waive penalty, etc., in certain cases. Clause 469 of the Bill seeks to provide for power to reduce or waive penalty, etc., in certain cases.....
Clause 470	:	Penalty not to be imposed in certain cases. Clause 470 of the Bill seeks to provide that penalty in certain cases shall not be imposed for reasonable cause.....
Clause 471	:	Procedure. Clause 471 of the Bill seeks to provide for the procedure for levy of penalty.....
Clause 472	:	Bar of limitation for imposing penalties. Clause 472 of the Bill provides for bar of limitation for imposing penalty.....
Chapter: XXII
OFFENCES AND PROSECUTION
Clause 473	:	Contravention of order made under section 247. Clause 473 of the Bill seeks to provide for punishment for contravention of order passed under clause 247 (1)(viii) or (4).....
Clause 474	:	Failure to comply with section 247(1)(b)(ii). Clause 474 of the Bill seeks to provide for punishment for failure to comply with clause 247 (1)(b)(ii).....
Clause 475	:	Removal, concealment, transfer or delivery of property to prevent tax recovery. Clause 475 of the Bill seeks to provide for punishment for the removal, concealment, transfer or delivery of property to evad....
Clause 476	:	Failure to pay tax to credit of Central Government under Chapter XIX-B. Clause 476 of the Bill seeks to provide for punishment for failure to pay tax to the credit of Central Government as required....
Clause 477	:	Failure to pay tax collected at source. Clause 477 of the Bill seeks to provide for punishment for failure to pay collected tax to the credit of Central Government.....
Clause 478	:	Wilful attempt to evade tax, etc. Clause 478 of the Bill seeks to provide for punishment for wilful attempt to evade tax, penalty, etc.....
Clause 479	:	Failure to furnish returns of income. Clause 479 of the Bill seeks to provide for punishment for failure to furnish return of income.....
Clause 480	:	Failure to furnish return of income in search cases. Clause 480 of the Bill seeks to provide for punishment for failure to furnish return of income in search cases.....
Clause 481	:	Failure to produce accounts and documents. Clause 481 of the Bill seeks to provide for punishment for failure to produce accounts and documents.....
Clause 482	:	False statement in verification, etc. Clause 482 of the Bill seeks to provide for punishment for making of false statement in verification, etc.....
Clause 483	:	Falsification of books of account or document, etc. Clause 483 of the Bill seeks to provide for punishment for falsification of books of account or document, etc., to evade tax.....
Clause 484	:	Abetment of false return, etc. Clause 484 of the Bill seeks to provide for punishment for abetment of false return, etc.....
Clause 485	:	Punishment for second and subsequent offences. Clause 485 of the Bill seeks to provide for punishment for second and subsequent offences.....
Clause 486	:	Punishment not to be imposed in certain cases. Clause 486 of the Bill seeks to provide for that punishment shall not be imposed in certain cases for reasonable cause.....
Clause 487	:	Offences by companies. Clause 487 of the Bill seeks to provide for punishment for offences by companies.....
Clause 488	:	Offences by Hindu undivided family. Clause 488 of the Bill seeks to provide for punishment for Hindu undivided family.....
Clause 489	:	Presumption as to assets, books of account, etc., in certain cases. Clause 489 of the Bill seeks to provide for presumption as to assets, book of accounts, etc., in certain cases.....
Clause 490	:	Presumption as to culpable mental state. Clause 490 of the Bill seeks to provide for presumption as to culpable mental state.....
Clause 491	:	Prosecution to be at instance of Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner. Clause 491 of the Bill seeks to provide for previous sanction of the Commissioner or Principal Commissioner or Joint Commissi....
Clause 492	:	Certain offences to be non-cognizable. Clause 492 of the Bill seeks to provide for certain offences to be non-cognizable irrespective of the provisions contained in....
Clause 493	:	Proof of entries in records or documents. Clause 493 of the Bill seeks to provide that entries in the records or other documents in the custody of an income-tax author....
Clause 494	:	Disclosure of particulars by public servants. Clause 494 of the Bill provides for punishment for contravention of clause 258(3) relating to disclosure of information by pu....
Clause 495	:	Special Courts. Clause 495 of the Bill seeks to provide for trial of offences under the Bill by special Court.....
Clause 496	:	Offences triable by Special Court. Clause 496 of the Bill seeks to provide for trial of offences under the Bill by special Court irrespective of the provisions ....
Clause 497	:	Trial of offences as summons case. Clause 497 of the Bill seeks to provide for trial of offences as summons case.....
Clause 498	:	Application of Bharatiya Nagarik Suraksha Sanhita, 2023 to proceedings before Special Court. Clause 498 of the Bill seeks to provide for application of the Bharatiya Nagarik Suraksha Sanhita, 2023 to proceedings before....
Chapter: XXIII
MISCELLANEOUS
Clause 499	:	Certain transfers to be void. Clause 499 of the Bill seeks to provide that transfers of assets shall be void as against any claim in respect of any tax pay....
Clause 500	:	Provisional attachment to protect revenue in certain cases. Clause 500 of the Bill empowers the Assessing Officer to provisionally attach any property belonging to the assessee during t....
Clause 501	:	Service of notice, generally. Clause 501 of the Bill seeks to provide mode of service of a notice, summon, requisition, order or any other communication.....
Clause 502	:	Authentication of notices and other documents. Clause 502 of the Bill provides for manner of authentication of a notice or other document shall be issued by any income-tax ....
Clause 503	:	Service of notice when family is disrupted or firm etc., is dissolved. Clause 503 of the Bill seeks to provide for service of notice on partition of a Hindu undivided family or on dissolution of a....
Clause 504	:	Service of notice in case of discontinued business. Clause 504 of the Bill seeks to provide for service of notice to be made in the case of a discontinued business or profession....
Clause 505	:	Submission of statement by a non-resident having liaison office. Clause 505 of the Bill provides for submission of statement a non-resident, having a liaison office in India set up as per th....
Clause 506	:	Furnishing of information or documents by an Indian concern in certain cases. Clause 506 of the Bill seeks to provide for furnishing information or documents by an Indian concern in certain cases to the ....
Clause 507	:	Submission of statements by producers of cinematograph films or persons engaged in specified activity. Clause 507 of the Bill seeks to provide for submission of statements by persons carrying on the production of a cinematograph....
Clause 508	:	Obligation to furnish statement of financial transaction or reportable account. Clause 508 of the Bill seeks to provide for furnishing of statement by a prescribed reporting financial institution in respec....
Clause 509	:	Obligation to furnish information on transaction of crypto-asset. Clause 509 of the Bill seeks to provide for furnishing of information in respect of a transaction of a crypto-asset.....
Clause 510	:	Annual information statement. Clause 510 of the Bill seeks to provide that the prescribed income-tax authority or the person authorised by such authority s....
Clause 511	:	Furnishing of report in respect of international group. Clause 511 of the Bill seeks to provide for furnishing of reports in respect of international group.....
Clause 512	:	Publication of information respecting assessees in certain cases. Clause 512 of the Bill seeks to provide for publication of information in respect of proceedings or prosecution in certain ca....
Clause 513	:	Appearance by registered valuer in certain matters. Clause 513 of the Bill seeks to provide that any assessee who is entitled or required to attend before any income-tax authori....
Clause 514	:	Registration of valuers. Clause 514 of the Bill seeks to provide for the procedure for registration of valuers.....
Clause 515	:	Appearance by authorised representative. Clause 515 of the Bill seeks to provide that an assessee, entitled or required to attend before an income-tax authority or Ap....
Clause 516	:	Rounding off of amount of total income, or tax payable or refundable. Clause 516 of the Bill seeks to provide for rounding off of amount of total income, or tax payable or payable or refundable.....
Clause 517	:	Receipt to be given. Clause 517 of the Bill seeks to provide that a receipt shall be given for any money paid or recovered under this Bill.....
Clause 518	:	Indemnity. Clause 518 of the Bill seeks to provide that every person deducting, retaining, or paying any tax in pursuance of this clause....
Clause 519	:	Power to tender immunity from prosecution. Clause 519 of the Bill seeks to provide for the power to tender immunity from prosecution to the Central Government.....
Clause 520	:	Cognizance of offences. Clause 520 of the Bill provides that no court inferior to that of a Judicial Magistrate of First Class shall try any offence ....
Clause 521	:	Probation of Offenders Act, 1958 and section 401 of Bharatiya Nagarik Suraksha Sanhita, 2023, not to apply. Clause 521 of the Bill seeks to provide for the barring of the application of the Probation of Offenders Act, 1958 and sectio....
Clause 522	:	Return of income, etc., not to be invalid on certain grounds. Clause 522 of the Bill seeks to that no return of income, assessment, notice, summons or other proceeding shall be invalid me....
Clause 523	:	Notice deemed to be valid in certain circumstances. Clause 523 of the Bill seeks to provide that where an assessee has appeared in any proceeding or cooperated in any inquiry re....
Clause 524	:	Presumption as to assets, books of account, etc. Clause 524 of the Bill provides for a rebuttable presumption with respect to books of account, other documents, money, bullio....
Clause 525	:	Authorisation and assessment in case of search or requisition. Clause 525 of the Bill seeks to provide for authorisation and assessment in case of search or requisition.....
Clause 526	:	Bar of suits in civil courts. Clause 526 of the Bill seeks to provide for bar of suits in civil courts in relation to proceedings under the Bill.....
Clause 527	:	Power to make exemption, etc., in relation to participation in business of prospecting for, extraction, etc., of mineral oils. Clause 527 of the Bill seeks to empower the Central Government to make exemption, etc., in relation to participation in busin....
Clause 528	:	Power of Central Government or Board to condone delays in obtaining approval. Clause 528 of the Bill seeks to empower the Central Government or Board to condone delays in obtaining approval.....
Clause 529	:	Power to withdraw approval. Clause 529 of the Bill seeks to specify for withdrawal of approval where Central Government or Board have the power to grant ....
Clause 530	:	Act to have effect pending legislative provision for charge of tax. Clause 530 of the Bill seeks to provide for effectivity for charge of tax in case of pending legislative provision.....
Clause 531	:	Power to rescind exemption in relation to certain Union territories already granted under section 294A of the Income-tax Act, 1961. Clause 531 of the Bill seeks to provide for rescinding exemption in relation to certain Union territories already granted.....
Clause 532	:	Power to frame schemes. Clause 532 of the Bill seeks to empower the Board, subject to the control of the Central Government, to make Schemes.....
Clause 533	:	Power to make rules. Clause 533 of the Bill seeks to empower the Board, subject to the control of the Central Government, to make rules.....
Clause 534	:	Laying before Parliament. Clause 534 of the Bill seeks to provide for laying of rules and certain notifications before Parliament.....
Clause 535	:	Removal of difficulties. Clause 535 of the Bill seeks to empower the Central Government to remove difficulties.....
Clause 536	:	Repeal and savings. Clause 536 of the Bill seeks to provide for repeal of the Income-tax Act, 1961 and saving of certain actions taken thereunder....
SCHEDULES
SCHEDULE I	:	CONDITIONS FOR CERTAIN ACTIVITIES NOT TO CONSTITUTE BUSINESS CONNECTION IN INDIA.
SCHEDULE II	:	INCOME NOT TO BE INCLUDED IN TOTAL INCOME
SCHEDULE III	:	INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF ELIGIBLE PERSONS
SCHEDULE IV	:	INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF ELIGIBLE NON-RESIDENTS, FOREIGN COMPANIES AND OTHER SUCH PERSONS
SCHEDULE V	:	INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF CERTAIN ELIGIBLE PERSONS INCLUDING INVESTMENT FUNDS, BUSINESS TRUSTS AND THEIR UNIT HOLDERS
SCHEDULE VI	:	INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF CERTAIN ELIGIBLE PERSONS IN INTERNATIONAL FINANCIAL SERVICES CENTRE OR HAVING INCOME THEREFROM
SCHEDULE VII	:	PERSONS EXEMPT FROM TAX
SCHEDULE VIII	:	INCOME NOT TO BE INCLUDED IN THE TOTAL INCOME OF POLITICAL PARTIES AND ELECTORAL TRUSTS
SCHEDULE-IX	:	DEDUCTION FOR TEA DEVELOPMENT ACCOUNT, COFFEE DEVELOPMENT ACCOUNT AND RUBBER DEVELOPMENT ACCOUNT FOR COMPUTING INCOME UNDER THE HEAD gPROFITS AND GAINS OF BUSINESS OR PROFESSIONh
SCHEDULE-X	:	DEDUCTION FOR SITE RESTORATION FUND FOR COMPUTING INCOME UNDER THE HEAD gPROFITS AND GAINS OF BUSINESS OR PROFESSION
SCHEDULE-XI	:	RECOGNISED PROVIDENT FUNDS
SCHEDULE-XII	:	MINERALS
SCHEDULE-XIII	:	LIST OF ARTICLES OR THINGS
SCHEDULE-XIV	:	INSURANCE BUSINESS
SCHEDULE-XV	:	DEDUCTION IN RESPECT OF LIFE INSURANCE PREMIA, CONTRIBUTION TO PROVIDENT FUND, SUBSCRIPTION TO CERTAIN EQUITY SHARES, ETC.
SCHEDULE-XVI	:	PERMITTED MODES OF INVESTMENT OR DEPOSITS FORMS OR MODES OF INVESTMENT OR DEPOSITS BY A CHARITABLE OR RELIGIOUS TRUST OR INSTITUTION
STATEMENT
STATEMENT	:	STATEMENT OF OBJECTS AND REASONS + PRESIDENT’S RECOMMENDATION UNDER ARTICLE 117 OF THE CONSTITUTION OF INDIA
Notes on Clauses
Notes	:	Notes on Clauses
MEMORANDUM
MEMO	:	FINANCIAL MEMORANDUM
MEMO	:	MEMORANDUM REGARDING DELEGATED LEGISLATION