Chapter: I |
PRELIMINARY |
Clause 1 |
: |
Short title, extent and commencement
|
Chapter: II |
BASIS OF CHARGE |
Clause 2 |
: |
Liability to pay income-tax
|
Clause 3 |
: |
Scope of total income
|
Clause 4 |
: |
Residence in India
|
Clause 5 |
: |
Income deemed to accrue in India
|
Clause 6 |
: |
Income deemed to be received in the financial year
|
Clause 7 |
: |
Total income to include income of any other person
|
Clause 8 |
: |
Total income to include income of spouse, minor child, etc.
|
Clause 9 |
: |
Income not included in the total income
|
Clause 10 |
: |
Persons not liable to income-tax
|
Chapter: III - Part-A |
COMPUTATION OF TOTAL INCOME - A.-General |
Clause 11 |
: |
Interpretation
|
Clause 12 |
: |
Classification of sources of income
|
Clause 13 |
: |
Computation of income from special sources
|
Clause 14 |
: |
Computation of income from ordinary sources
|
Clause 15 |
: |
Apportionment of income between spouses governed by Portuguese Civil Code
|
Clause 16 |
: |
Avoidance of double taxation
|
Clause 17 |
: |
Expenditure not to be allowed as deduction
|
Clause 18 |
: |
Amount not deductible where tax is not deducted at source
|
Chapter: III - Part-B |
COMPUTATION OF TOTAL INCOME - B. - Income from Employment |
Clause 19 |
: |
Income from Employment
|
Clause 20 |
: |
Computation of income from Employment
|
Clause 21 |
: |
Scope of gross salary
|
Clause 22 |
: |
Deductions from gross salary
|
Chapter: III - Part-C |
COMPUTATION OF TOTAL INCOME - C. - Income from house property |
Clause 23 |
: |
Income from House Property
|
Clause 24 |
: |
Computation of income from house property
|
Clause 25 |
: |
Scope of gross rent
|
Clause 26 |
: |
Deductions from gross rent
|
Clause 27 |
: |
Special provision for advance rent received
|
Chapter: III - Part-D |
COMPUTATION OF TOTAL INCOME - D. - Income from business |
Clause 28 |
: |
Income from business
|
Clause 29 |
: |
Distinct and separate business
|
Clause 30 |
: |
Computation of income from business
|
Clause 31 |
: |
Gross earnings
|
Clause 32 |
: |
Deduction for business expenditure
|
Clause 33 |
: |
Deduction for operating expenditure
|
Clause 34 |
: |
Deductions for permitted finance charges
|
Clause 35 |
: |
Computation of capital allowances
|
Clause 36 |
: |
Computation of depreciation
|
Clause 37 |
: |
Deduction for initial depreciation
|
Clause 38 |
: |
Deduction for terminal allowance
|
Clause 39 |
: |
Deduction for scientific research and development allowance
|
Clause 40 |
: |
Profit on transfer of a business capital asset
|
Clause 41 |
: |
Special provisions relating to business reorganisation
|
Clause 42 |
: |
Meaning of actual cost
|
Clause 43 |
: |
Meaning of written down value, adjusted value of assets, etc.
|
Chapter: III - Part-E |
COMPUTATION OF TOTAL INCOME - E. - Capital gains |
Clause 44 |
: |
Capital gains
|
Clause 45 |
: |
Income from certain transfers not to be treated as capital gains
|
Clause 46 |
: |
Financial year of taxability
|
Clause 47 |
: |
Computation of income from the transfer of any investment asset
|
Clause 48 |
: |
Full value of the consideration
|
Clause 49 |
: |
Deduction for cost of acquisition, inflation-adjustment etc.
|
Clause 50 |
: |
Indexed cost of acquisition
|
Clause 51 |
: |
Cost of acquisition of an investment asset
|
Clause 52 |
: |
Cost of improvement
|
Clause 53 |
: |
Relief for rollover of investment asset
|
Chapter: III - Part-F |
COMPUTATION OF TOTAL INCOME - F. - Income from residuary sources |
Clause 54 |
: |
Income from residuary sources
|
Clause 55 |
: |
Computation of income from residuary sources
|
Clause 56 |
: |
Gross residuary income
|
Clause 57 |
: |
Deductions
|
Chapter: III - Part-G |
COMPUTATION OF TOTAL INCOME - G. - Aggregation of income |
Clause 58 |
: |
Aggregation of income under the class 'Income from Ordinary Sources'
|
Clause 59 |
: |
Aggregation of income under the class 'Income from Special Sources'
|
Clause 60 |
: |
Determination of total income
|
Clause 61 |
: |
Special provisions relating to business reorganisation
|
Clause 62 |
: |
Aggregation of losses in case of change in constitution of unincorporated body
|
Clause 63 |
: |
Aggregation of losses in the case of certain companies
|
Clause 64 |
: |
Aggregation of loss not to be allowed in the case of filing of return after due date
|
Chapter: III - Part-H |
COMPUTATION OF TOTAL INCOME - H. - Tax incentives |
Clause 65 |
: |
Deductions to be made in computing total income
|
Clause 66 |
: |
Deductions for savings
|
Clause 67 |
: |
Deductions in respect of children's education
|
Clause 68 |
: |
Deduction in respect of interest on loan taken for higher education
|
Clause 69 |
: |
Deduction in respect of health insurance premia
|
Clause 70 |
: |
Deduction in respect of medical treatment, etc.
|
Clause 71 |
: |
Deduction in respect of maintenance of a disabled dependant
|
Clause 72 |
: |
Deduction in respect of donations to certain funds, non-profit organisations, etc.
|
Clause 73 |
: |
Deduction in respect of political contributions
|
Clause 74 |
: |
Deduction in respect of interest income on bonds
|
Clause 75 |
: |
Deduction in respect of income of Investor Protection Fund
|
Clause 76 |
: |
Deduction in respect of certain income of trade unions
|
Clause 77 |
: |
Deduction in respect of royalty income, etc., of authors of certain books
|
Clause 78 |
: |
Deduction in respect of royalty on patents
|
Clause 79 |
: |
Deduction in case of a person with disability
|
Clause 80 |
: |
Deduction in respect of income of co-operative society from banking activities
|
Clause 81 |
: |
Deduction in respect of income of primary co-operative societies
|
Clause 82 |
: |
Expenditure for promoting family planning and preventing HIV-aids
|
Chapter: III - Part-I |
COMPUTATION OF TOTAL INCOME - I. - Maintainance of accounts and other related matters |
Clause 83 |
: |
Maintenance of accounts
|
Clause 84 |
: |
Tax audit
|
Clause 85 |
: |
Method of accounting
|
Chapter: IV |
SPECIAL PROVISIONS RELATING TO COMPUTATION OF TOTAL INCOME OF NON-PROFIT ORGANISATIONS |
Clause 86 |
: |
Applicability of this Chapter
|
Clause 87 |
: |
Total income of a non-profit organisation
|
Clause 88 |
: |
Computation of total income of a non-profit organisation
|
Clause 89 |
: |
Gross receipts in the case of a non-profit organisation
|
Clause 90 |
: |
Outgoings in the case of a non-profit organisation
|
Clause 91 |
: |
Prohibited forms and modes of investment
|
Clause 92 |
: |
Deemed use or application of funds or assets for the benefit of interested person
|
Clause 93 |
: |
Registration of the non-profit organisation
|
Clause 94 |
: |
Consequences of conversion of a non-profit organisation
|
Clause 95 |
: |
Provisions of this chapter not to apply in certain cases
|
Clause 96 |
: |
Interpretations
|
Chapter: V |
COMPUTATION OF THE VALUE OF GROSS ASSETS |
Clause 97 |
: |
Computation of the value of gross assets
|
Clause 98 |
: |
Preparation of balance sheet for computing gross assets
|
Chapter: VI |
SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME |
Clause 99 |
: |
Tax on dividends distributed
|
Chapter: VII |
CHARGE OF BRANCH PROFITS TAX |
Clause 100 |
: |
Tax on branch profits
|
Chapter: VIII |
WEALTH-TAX |
Clause 101 |
: |
Charge of wealth-tax
|
Clause 102 |
: |
Computation of net wealth
|
Clause 103 |
: |
Net wealth to include certain assets
|
Chapter: IX |
SPECIAL PROVISIONS TO PREVENT EVASION |
Clause 104 |
: |
Disallowance of expenditure having regard to fair market value
|
Clause 105 |
: |
Computation of income from international transaction having regard to arm's length price
|
Clause 106 |
: |
Computation of arm's length price
|
Clause 107 |
: |
Advance pricing agreement
|
Clause 108 |
: |
Avoidance of income-tax by transactions resulting in transfer of income to nonresidents
|
Clause 109 |
: |
Avoidance of tax by sale and buy-back transaction in security
|
Clause 110 |
: |
Avoidance of tax by buy and sale-back transaction in security
|
Clause 111 |
: |
Broken-period income acruing from a debt instrument
|
Clause 112 |
: |
General anti-avoidance rule
|
Clause 113 |
: |
Interpretation
|
Clause 114 |
: |
Presumption of purpose
|
Chapter: X - Part-A |
TAX ADMINISTRATION AND PROCEDURE - A.-Tax administration |
Clause 115 |
: |
Establishment of institutions
|
Clause 116 |
: |
Establishment of the Central Board of Direct Taxes
|
Clause 117 |
: |
Management of the Board
|
Clause 118 |
: |
Delegation
|
Clause 119 |
: |
Term of office and conditions of service of Chairman and Members of the Board
|
Clause 120 |
: |
Meetings
|
Clause 121 |
: |
Secretariat of the Board
|
Clause 122 |
: |
Attached offices of the Board
|
Clause 123 |
: |
Subordinate offices of the Board
|
Clause 124 |
: |
Functions of the Board
|
Clause 125 |
: |
Grants by the Central Government
|
Clause 126 |
: |
Accounts and audit
|
Clause 127 |
: |
Power of Central Government to issue directions
|
Clause 128 |
: |
Returns and reports
|
Clause 129 |
: |
Establishment of the Income Tax Department
|
Clause 130 |
: |
Income-tax authorities
|
Clause 131 |
: |
Appointment and control of income-tax authorities
|
Clause 132 |
: |
Power of higher authorities
|
Clause 133 |
: |
Instructions by the Board
|
Clause 134 |
: |
Jurisdiction of income-tax authorities
|
Clause 135 |
: |
Jurisdiction of Assessing Officers
|
Clause 136 |
: |
Power to transfer cases
|
Clause 137 |
: |
Change of incumbent
|
Clause 138 |
: |
Powers regarding discovery, production of evidence, etc.
|
Clause 139 |
: |
Search and seizure
|
Clause 140 |
: |
Powers to requisition material taken into custody
|
Clause 141 |
: |
Retention and release of books of account or documents seized or requisitioned
|
Clause 142 |
: |
Delivery of material belonging to other persons
|
Clause 143 |
: |
Retention and application of seized or requisitioned assets
|
Clause 144 |
: |
Power to call for information
|
Clause 145 |
: |
Power of survey
|
Clause 146 |
: |
Power to disclose information in respect of assessee
|
Clause 147 |
: |
Proceedings before tax authorities to be judicial proceedings
|
Chapter: X - Part-B |
TAX ADMINISTRATION AND PROCEDURE - B.-Assessment procedure |
Clause 148 |
: |
Self-reporting of tax bases
|
Clause 149 |
: |
Reporting of international transaction
|
Clause 150 |
: |
Tax Return Preparer
|
Clause 151 |
: |
Issue of notice to stop-filer
|
Clause 152 |
: |
Issue of notice to non-filer
|
Clause 153 |
: |
Self-assessment tax
|
Clause 154 |
: |
Acknowledgment of return
|
Clause 155 |
: |
Processing of return
|
Clause 156 |
: |
Selection of return for scrutiny assessment
|
Clause 157 |
: |
Notice for scrutiny assessment
|
Clause 158 |
: |
Special Audit
|
Clause 159 |
: |
Determination of value of assets
|
Clause 160 |
: |
Determination of arm's length price
|
Clause 161 |
: |
Determination of an impermissible avoidance arrangement and consequences thereof
|
Clause 162 |
: |
Assessment
|
Clause 163 |
: |
Best judgement assessment
|
Clause 164 |
: |
Directions for assessment by Joint Commissioner or Commissioner
|
Clause 165 |
: |
Direction for assessment by Dispute Resolution Panel
|
Clause 166 |
: |
Reopening of assessment
|
Clause 167 |
: |
Rectification of mistake
|
Clause 168 |
: |
Notice of demand
|
Clause 169 |
: |
Time limits for completion of assessment or reassessments
|
Chapter: X - Part-C |
TAX ADMINISTRATION AND PROCEDURE - C.-Procedure for assessment in special cases |
Clause 170 |
: |
Representative assessee
|
Clause 171 |
: |
Rights and obligations of a representative assessee
|
Clause 172 |
: |
Direct assessment or recovery not barred
|
Clause 173 |
: |
Remedy against property in cases of representative assessee
|
Clause 174 |
: |
Assessment upon business reorganisation
|
Clause 175 |
: |
Assessment after partition of a Hindu undivided family
|
Clause 176 |
: |
Assessment of non-resident in respect of the shipping business
|
Clause 177 |
: |
Assessment of persons leaving India
|
Clause 178 |
: |
Assessment of entity formed for a particular event or purpose
|
Clause 179 |
: |
Assessment of persons likely to transfer property to avoid tax
|
Clause 180 |
: |
Assessment of firm in case of change in its constitution
|
Clause 181 |
: |
Assessment on the retirement or death of the participant
|
Clause 182 |
: |
Assessment of a deductor or collector
|
Chapter: X - Part-D |
TAX ADMINISTRATION AND PROCEDURE - D.-Appeals and revision |
Clause 183 |
: |
Appeal to Commissioner (Appeals)
|
Clause 184 |
: |
Form of appeal and limitation
|
Clause 185 |
: |
Procedure in appeal
|
Clause 186 |
: |
Powers of the Commissioner (Appeals)
|
Clause 187 |
: |
Appellate Tribunal
|
Clause 188 |
: |
Appeals to the Appellate Tribunal
|
Clause 189 |
: |
Stay of demand by the Appellate Tribunal
|
Clause 190 |
: |
Orders of the Appellate Tribunal
|
Clause 191 |
: |
Procedure of the Appellate Tribunal
|
Clause 192 |
: |
Appeals to the National Tax Tribunal
|
Clause 193 |
: |
Appeals to the Supreme Court
|
Clause 194 |
: |
Revision of orders prejudicial to revenue
|
Chapter: XI - Part-A |
COLLECTION AND RECOVERY - A.-Deduction at source |
Clause 195 |
: |
Liability to deduct tax at source
|
Clause 196 |
: |
Payment of income and deduction of tax
|
Clause 197 |
: |
Certificate for no deduction of tax
|
Clause 198 |
: |
Payment of tax deducted, certificate to deductee, etc.
|
Clause 199 |
: |
Reporting of payments without deduction of tax
|
Clause 200 |
: |
No deduction of tax in certain cases
|
Clause 201 |
: |
Credit for tax deducted
|
Chapter: XI - Part-B |
COLLECTION AND RECOVERY - B.-Collection at source |
Clause 202 |
: |
Tax collection at source
|
Clause 203 |
: |
Certain definitions
|
Chapter: XI - Part-C |
COLLECTION AND RECOVERY - C.-Advance tax |
Clause 204 |
: |
Liability to pay advance income-tax
|
Chapter: XI - Part-D |
COLLECTION AND RECOVERY - D.-Tax credit for relief in respect of payments received in arrears or in advance |
Clause 205 |
: |
Tax relief for arrears or advance receipts
|
Chapter: XI - Part-E |
COLLECTION AND RECOVERY - E.- Foreign tax credit |
Clause 206 |
: |
Foreign tax credit
|
Chapter: XI - Part-F |
COLLECTION AND RECOVERY - F.- Payment of dividend distribution tax |
Clause 207 |
: |
F. - Payment of dividend distribution tax
|
Chapter: XI - Part-G |
COLLECTION AND RECOVERY - G. Payment of wealth-tax |
Clause 208 |
: |
Payment of wealth-tax
|
Chapter: XI - Part-H |
COLLECTION AND RECOVERY - H. Interest |
Clause 209 |
: |
Interest payable to the Central Government
|
Clause 210 |
: |
Interest payable to the assessee
|
Clause 211 |
: |
Manner of computation of interest and waiver thereof to be prescribed
|
Chapter: XI - Part-I |
COLLECTION AND RECOVERY - I. Refund |
Clause 212 |
: |
Refunds
|
Chapter: XI - Part-J |
COLLECTION AND RECOVERY - J. Recovery |
Clause 213 |
: |
Recovery by Assessing Officer
|
Clause 214 |
: |
Recovery by Tax Recovery Officer
|
Clause 215 |
: |
Modes of recovery
|
Clause 216 |
: |
Tax Recovery Officer by whom recovery is to be effected
|
Clause 217 |
: |
Recovery of tax arrear in respect of non-resident from his assets
|
Clause 218 |
: |
Recovery in the case of a company in liquidation
|
Clause 219 |
: |
Liability of manager of a company
|
Clause 220 |
: |
Joint and several liability of participants
|
Clause 221 |
: |
Recovery of tax in pursuance of agreements with foreign countries
|
Clause 222 |
: |
Tax clearance certificate in certain cases
|
Clause 223 |
: |
Recovery by suit or under other law not effected
|
Chapter: XII |
PENALTIES |
Clause 224 |
: |
Penalty for under-reporting of tax base
|
Clause 225 |
: |
Penalty where search has been initiated
|
Clause 226 |
: |
Penalty for other defaults
|
Clause 227 |
: |
Procedure
|
Clause 228 |
: |
Bar of limitation for imposing penalty
|
Chapter: XIII |
PROSECUTION |
Clause 229 |
: |
Chapter not in derogation of any other law or any other provision of this Code
|
Clause 230 |
: |
Contravention of any restraint order
|
Clause 231 |
: |
Failure to comply with the provisions of clause (d) of sub-section (2) of section 139
|
Clause 232 |
: |
Removal, concealment, transfer or delivery of property to thwart tax recovery
|
Clause 233 |
: |
Failure to comply with the provisions of sub-sections (1) and (3) of section 218
|
Clause 234 |
: |
Failure to pay the tax deducted or collected at source or to pay the dividend distribution tax
|
Clause 235 |
: |
Willful attempt to evade tax, etc.
|
Clause 236 |
: |
Failure to furnish returns of tax bases
|
Clause 237 |
: |
Failure to furnish other returns, statements, reports, etc.
|
Clause 238 |
: |
Failure to comply with direction under this Code
|
Clause 239 |
: |
False statement in verification, etc.
|
Clause 240 |
: |
Falsification of books of account or documents, etc.
|
Clause 241 |
: |
Abetment of false return, etc.
|
Clause 242 |
: |
Offences by companies, etc.
|
Clause 243 |
: |
Proof of entries in records or documents
|
Clause 244 |
: |
Presumption as to assets, books of account, etc., in certain cases
|
Clause 245 |
: |
Presumption as to culpable mental state
|
Clause 246 |
: |
Prosecution to be at the instance of Chief Commissioner or Commissioner
|
Clause 247 |
: |
Certain offences to be non-cognizable
|
Clause 248 |
: |
Disclosure of information by public servants
|
Chapter: XIV |
ADVANCE RULING |
Clause 249 |
: |
Definitions
|
Clause 250 |
: |
Scope of Ruling
|
Clause 251 |
: |
Authority for Advance Ruling
|
Clause 252 |
: |
Procedure for advance ruling
|
Clause 253 |
: |
Income-tax authority or Appellate Tribunal not to proceed in certain cases
|
Clause 254 |
: |
Applicability of Advance Ruling
|
Clause 255 |
: |
Advance Ruling to be void in certain circumstances
|
Clause 256 |
: |
Powers of the Authority
|
Clause 257 |
: |
Procedure of Authority
|
Chapter: XV |
GENERAL |
Clause 258 |
: |
Agreement with foreign countries
|
Clause 259 |
: |
Permanent account number
|
Clause 260 |
: |
Tax account number
|
Clause 261 |
: |
Document Identification Number
|
Clause 262 |
: |
Certain transfers to be void
|
Clause 263 |
: |
Provisional attachment to protect revenue in certain cases
|
Clause 264 |
: |
Service of notice generally
|
Clause 265 |
: |
Authentication of notices and other documents
|
Clause 266 |
: |
Notice deemed to be valid in certain circumstances
|
Clause 267 |
: |
Service of notice when family is disrupted or unincorporated body is dissolved
|
Clause 268 |
: |
Publication of information respecting assessees in certain cases
|
Clause 269 |
: |
Appearance by registered valuer in certain matters
|
Clause 270 |
: |
Appearance by authorised representative
|
Clause 271 |
: |
Rounding off of tax bases, tax, etc.
|
Clause 272 |
: |
Indemnity
|
Clause 273 |
: |
Power to tender immunity from prosecution
|
Clause 274 |
: |
Cognizance of offences
|
Clause 275 |
: |
Section 360 of the Code of Criminal Procedure, 1973, and the Probation of Offenders Act, 1958, not to apply
|
Clause 276 |
: |
Return of tax base, etc., not to be invalid on certain grounds
|
Clause 277 |
: |
Presumption as to material found
|
Clause 278 |
: |
Bar of suits in civil courts
|
Clause 279 |
: |
Power to rescind
|
Clause 280 |
: |
Power to make rules
|
Clause 281 |
: |
Rules and certain notifications to be placed before Parliament
|
Clause 282 |
: |
Repeals and savings
|
Clause 283 |
: |
Power to remove difficulties
|
Chapter: XVI |
DEFINITIONS |
Clause 284 |
: |
Definitions
|
Clause 285 |
: |
Interpretation
|
ARRANGEMENT OF SCHEDULES |
Sch - 01 |
: |
THE FIRST SCHEDULE - RATES OF INCOME-TAX
|
Sch - 02 |
: |
THE SECOND SCHEDULE - RATES OF OTHER TAXES
|
Sch - 03 |
: |
THE THIRD SCHEDULE - RATES FOR DEDUCTION OF TAX AT SOURCE
|
Sch - 04 |
: |
THE FOURTH SCHEDULE - Rates for deduction of tax at source in the case of non-resident deductee
|
Sch - 05 |
: |
THE FIFTH SCHEDULE - PROCEDURE FOR RECOVERY OF TAX
|
Sch - 06 |
: |
THE SIXTH SCHEDULE - Income not included in the total income
|
Sch - 07 |
: |
THE SEVENTH SCHEDULE - Persons exempt
|
Sch - 08 |
: |
THE EIGHTH SCHEDULE - COMPUTATION OF PROFITS OF THE INSURANCE BUSINESS
|
Sch - 09 |
: |
THE NINTH SCHEDULE - COMPUTATION OF INCOME FROM ANY OTHER SPECIAL SOURCE
|
Sch - 10 |
: |
THE TENTH SCHEDULE - COMPUTATION OF PROFITS OF BUSINESS OF OPERATING A QUALIFYING SHIP
|
Sch - 11 |
: |
THE ELEVENTH SCHEDULE - COMPUTATION OF PROFITS OF THE BUSINESS OF MINERAL OIL OR NATURAL GAS
|
Sch - 12 |
: |
THE TWELVETH SCHEDULE - COMPUTATION OF PROFITS OF THE BUSINESS OF DEVELOPING A SPECIAL ECONOMIC ZONE
|
Sch - 13 |
: |
THE THIRTEENTH SCHEDULE - COMPUTATION OF PROFITS OF A SPECIFIED BUSINESS
|
Sch - 14 |
: |
THE FOURTEENTH SCHEDULE - DETERMINATION OF INCOME ON A PRESUMPTIVE BASIS
|
Sch - 15 |
: |
THE FIFTEENTH SCHEDULE - DEPRECIATION
|
Sch - 16 |
: |
THE SIXTEENTH SCHEDULE - DEDUCTION FOR DONATION
|
Sch - 17 |
: |
SEVENTEENTH SCHEDULE - DETERMINATION OF COST OF ACQUISITION IN CERTAIN CASES
|
Sch - 18 |
: |
THE EIGHTTEENTH SCHEDULE - Minerals and Group of Associated Minerals
|