Income deemed to be received and dividend deemed to be income in a tax year.
8.
Income on receipt of capital asset or stock-in-trade by specified person from specified entity.
9.
Income deemed to accrue or arise in India.
10.
Apportionment of income between spouses governed by Portuguese Civil Code.
Chapter III–Incomes Which Do Not Form Part of Total Income
A.–Incomes not to be included in total income
11.
Incomes not included in total income.
B.–Incomes not to be included in total income of political parties and electoral trusts
12.
Incomes not included in total income of political parties and electoral trusts.
Chapter IV–Computation of Total Income
A.–Heads of income
13.
Heads of income.
14.
Income not forming part of total income and expenditure in relation to such income.
B.–Salaries
15.
Salaries.
16.
Income from salary.
17.
Perquisite.
18.
Profits in lieu of salary.
19.
Deductions from salaries.
C.–Income from House Property
20.
Income from house property.
21.
Determination of annual value.
22.
Deductions from income from house property.
23.
Arrears of rent and unrealized rent received subsequently.
24.
Property owned by co-owners.
25.
Interpretation.
D.–Profits and gains of business or profession
26.
Income under head “Profits and gains of business or profession”.
27.
Manner of computing profits and gains of business or profession.
28.
Rent, rates, taxes, repairs and insurance.
29.
Deductions related to employee welfare.
30.
Deduction on certain premium.
31.
Deduction for bad debt and provision for bad and doubtful debt.
32.
Other deductions.
33.
Deduction for depreciation.
34.
General conditions for allowable deductions.
35.
Amounts not deductible in certain circumstances.
36.
Expenses or payments not deductible in certain circumstances.
37.
Certain deductions allowed on actual payment basis only.
38.
Certain sums deemed as profits and gains of business or profession.
39.
Computation of actual cost.
40.
Special provision for computation of cost of acquisition of certain assets.
41.
Written down value of depreciable asset.
42.
Capitalising impact of foreign exchange fluctuation.
43.
Taxation of foreign exchange fluctuation.
44.
Amortisation of certain preliminary expenses.
45.
Expenditure on scientific research.
46.
Capital expenditure of specified business.
47.
Expenditure on agricultural extension project and skill development project.
48.
Tea development account, coffee development account and rubber development account.
49.
Site Restoration Fund.
50.
Special provision in case of trade, profession or similar association.
51.
Amortisation of expenditure for prospecting certain minerals.
52.
Amortisation of expenditure for telecommunications services, amalgamation, demerger, scheme of voluntary retirement, etc.
53.
Full value of consideration for transfer of assets other than capital assets in certain cases.
54.
Business of prospecting for mineral oils.
55.
Insurance business.
56.
Special provision in case of interest income of specified financial institutions.
57.
Revenue recognition for construction and service contracts.
58.
Special provision for computing profits and gains of business or profession on presumptive basis in case of certain residents.
59.
Computation of royalty and fee for technical services in hands of non-residents.
60.
Deduction of head office expenditure in case of non-residents.
61.
Special provision for computation of income on presumptive basis in respect of certain business activities of certain non-residents.
62.
Maintenance of books of account.
63.
Tax audit.
64.
Special provision for computing deductions in case of business reorganization of co-operative banks.
65.
Interpretation for purposes of section 64.
66.
Interpretation.
E.–Capital gains
67.
Capital gains.
68.
Capital gains on distribution of assets by companies in liquidation.
69.
Capital gains on purchase by company of its own shares or other specified securities.
70.
Transactions not regarded as transfer.
71.
Withdrawal of exemption in certain cases.
72.
Mode of computation of capital gains.
73.
Cost with reference to certain modes of acquisition.
74.
Special provision for computation of capital gains in case of depreciable assets.
75.
Special provision for cost of acquisition in case of depreciable asset.
76.
Special provision for computation of capital gains in case of Market Linked Debenture.
77.
Special provision for computation of capital gains in case of slump sale.
78.
Special provision for full value of consideration in certain cases.
79.
Special provision for full value of consideration for transfer of share other than quoted share.
80.
Fair market value deemed to be full value of consideration in certain cases.
81.
Advance money received.
82.
Profit on sale of property used for residence.
83.
Capital gains on transfer of land used for agricultural purposes not to be charged in certain cases.
84.
Capital gains on compulsory acquisition of lands and buildings not to be charged in certain cases.
85.
Capital gains not to be charged on investment in certain bonds.
86.
Capital gains on transfer of certain capital assets not to be charged in case of investment in residential house.
87.
Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area.
88.
Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone.
89.
Extension of time for acquiring new asset or depositing or investing amount of capital gains.
90.
Meaning of “adjusted”, “cost of improvement” and “cost of acquisition”.
91.
Reference to Valuation Officer.
F.–Income from other sources
92.
Income from other sources.
93.
Deductions.
94.
Amounts not deductible.
95.
Profits chargeable to tax.
Chapter V–Income of Other Persons Included in Total Income of Assessee
96.
Transfer of income without transfer of assets.
97.
Chargeability of income in transfer of assets.
98.
“Transfer” and “revocable transfer” defined.
99.
Income of individual to include income of spouse, minor child, etc.
100.
Liability of person in respect of income included in income of another person.
Chapter VI–Aggregation of Income
101.
Total income.
102.
Unexplained credits.
103.
Unexplained investment.
104.
Unexplained asset.
105.
Unexplained expenditure.
106.
Amount borrowed or repaid through negotiable instrument, hundi, etc.
107.
Charge of tax.
Chapter VII–Set Off, or Carry Forward and Set Off of Losses
108.
Set off of losses under same head of income.
109.
Set off of losses under any other head of income.
110.
Carry forward and set off of loss from house property.
111.
Carry forward and set off of loss from Capital gains.
112.
Carry forward and set off of business loss.
113.
Set off and carry forward of losses computed in respect of speculation business.
114.
Set off and carry forward of losses computed in respect of specified business.
115.
Set off and carry forward of losses from specified activity.
116.
Treatment of accumulated losses and unabsorbed depreciation in amalgamation or demerger, etc.
117.
Treatment of accumulated losses and unabsorbed depreciation in scheme of amalgamation in certain cases.
118.
Carry forward and set off of losses and unabsorbed depreciation in business reorganisation of co-operative banks.
119.
Carry forward and set off of losses not permissible in certain cases.
120.
No set off of losses against undisclosed income consequent to search, requisition and survey.
121.
Submission of return for losses.
Chapter VIII–Deductions to be Made in Computing Total Income
A.–General
122.
Deductions to be made in computing total income.
B.–Deductions in respect of certain payments
123.
Deduction for life insurance premia, deferred annuity, contributions to provident fund, etc.
124.
Deduction in respect of employer and assessee contribution to pension scheme of Central Government.
125.
Deduction in respect of contribution to Agnipath Scheme.
126.
Deduction in respect of health insurance premia.
127.
Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability.
128.
Deduction in respect of medical treatment, etc.
129.
Deduction in respect of interest on loan taken for higher education.
130.
Deduction in respect of interest on loan taken for residential house property.
131.
Deduction in respect of interest on loan taken for certain house property.
132.
Deduction in respect of purchase of electric vehicle.
133.
Deduction in respect of donations to certain funds, charitable institutions, etc.
134.
Deductions in respect of rents paid.
135.
Deduction in respect of certain donations for scientific research or rural development.
136.
Deduction in respect of contributions given by companies to political parties.
137.
Deduction in respect of contributions given by any person to political parties.
C.–Deductions in respect of certain incomes
138.
Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc.
139.
Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone.
140.
Special provision in respect of specified business.
141.
Deduction in respect of profits and gains from certain industrial undertakings.
142.
Deductions in respect of profits and gains from housing projects.
143.
Special provisions in respect of certain undertakings in North-Eastern States.
144.
Special provisions in respect of newly established Units in Special Economic Zones.
145.
Deduction for businesses engaged in collecting and processing of bio-degradable waste.
146.
Deduction in respect of additional employee cost.
147.
Deductions for income of Offshore Banking Units and Units of International Financial Services Centre.
148.
Deduction in respect of certain inter-corporate dividends.
149.
Deduction in respect of income of co-operative societies.
150.
Deduction in respect of income of federal co-operative.
151.
Deduction in respect of royalty income, etc., of authors of certain books other than text-books.
152.
Deduction in respect of royalty on patents.
D.–Deductions in respect of other incomes
153.
Deduction for interest on deposits.
E.–Other deductions
154.
Deduction in case of a person with disability.
Chapter IX–Rebates and Reliefs
A.–Rebates and Reliefs
155.
Rebate to be allowed in computing income-tax.
156.
Rebate of income-tax in case of certain individuals.
157.
Relief when salary, etc., is paid in arrears or in advance.
158.
Relief from taxation in income from retirement benefit account maintained in a notified country.
B.–Double taxation relief
159.
Agreement with foreign countries or specified territories and adoption by Central Government of agreement between specified associations for double taxation relief.
160.
Countries with which no agreement exists.
Chapter X–Special Provisions Relating to Avoidance of Tax
161.
Computation of income from international transaction and specified domestic transaction having regard to arm’s length price.
162.
Meaning of associated enterprise.
163.
Meaning of international transaction.
164.
Meaning of specified domestic transaction.
165.
Determination of arm’s length price.
166.
Reference to Transfer Pricing Officer.
167.
Power of Board to make safe harbour rules.
168.
Advance pricing agreement.
169.
Effect to advance pricing agreement.
170.
Secondary adjustment in certain cases.
171.
Maintenance, keeping and furnishing of information and document by certain persons.
172.
Report from an accountant to be furnished by persons entering into international transaction or specified domestic transaction.
173.
Definitions of certain terms relevant to determination of arm’s length price, etc.
174.
Avoidance of income-tax by transactions resulting in transfer of income to non-residents.
175.
Avoidance of tax by certain transactions in securities.
176.
Special measures in respect of transactions with persons located in notified jurisdictional area.
177.
Limitation on interest deduction in certain cases.
Chapter XI–General Anti-Avoidance Rule
178.
Applicability of General Anti-Avoidance Rule.
179.
Impermissible avoidance arrangement.
180.
Arrangement to lack commercial substance.
181.
Consequences of impermissible avoidance arrangement.
182.
Treatment of connected person and accommodating party.
183.
Application of this Chapter.
184.
Interpretation.
Chapter XII–Mode of Payment in Certain Cases, Etc.
185.
Mode of taking or accepting certain loans, deposits and specified sum.
186.
Mode of undertaking transactions.
187.
Acceptance of payment through prescribed electronic modes.
188.
Mode of repayment of certain loans or deposits or specified advances.
189.
Interpretation.
Chapter XIII–Determination of Tax in Special Cases
A.–Determination of TAX in Certain Special Cases
190.
Determination of tax where total income includes income on which no tax is payable.
191.
Tax on accumulated balance of recognized provident fund.
192.
Tax in case of block assessment of search cases.
193.
Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer.
194.
Tax on certain incomes.
195.
Tax on income referred to in sections 102 to 106.
B.–Special provisions relating to tax on capital gains
196.
Tax on short-term capital gains in certain cases.
197.
Tax on long-term capital gains.
198.
Tax on long-term capital gains in certain cases.
C.–New tax regime
199.
Tax on income of certain manufacturing domestic companies.
200.
Tax on income of certain domestic companies.
201.
Tax on income of new manufacturing domestic companies.
202.
New tax regime for individuals, Hindu undivided family and others.
203.
Tax on income of certain resident cooperative societies.
204.
Tax on income of certain new manufacturing co-operative societies.
205.
Conditions for tax on income of certain companies and co-operative societies.
D.–Special provisions relating to minimum alternate tax and alternate minimum tax
206.
Special provision for minimum alternate tax and alternate minimum tax.
E.–Special provisions relating to non-residents and foreign companies
207.
Tax on dividends, royalty and fees for technical service in case of foreign companies.
208.
Tax on income from units purchased in foreign currency or capital gains arising from their transfer.
209.
Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer.
210.
Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer.
211.
Tax on non-resident sportsmen or sports associations.
212.
Interpretation.
213.
Special provision for computation of total income of non-residents.
214.
Tax on investment income and long-term capital gains.
215.
Capital gains on transfer of foreign exchange assets not to be charged in certain cases.
216.
Return of income not to be furnished in certain cases.
217.
Application of benefits under sections 212 to 216.
218.
Tax on business income of Offshore Banking Units or International Financial Services Centre unit.
219.
Conversion of an Indian branch of foreign company into subsidiary Indian company.
220.
Foreign company said to be resident in India.
F.–Special provisions relating to pass-through entities
221.
Tax on income from securitisation trusts.
222.
Tax on income in case of venture capital undertakings.
223.
Tax on income of unit holder and business trust.
224.
Tax on income of investment fund and its unit holders.
G.–Special provisions relating to income of shipping companies
225.
Income from business of operating qualifying ships.
226.
Tonnage tax scheme.
227.
Computation of tonnage income.
228.
Relevant shipping income and exclusion from book profit.
229.
Depreciation and gains relating to tonnage tax assets.
230.
Exclusion of deduction, loss, set off, etc.
231.
Method of opting of tonnage tax scheme and validity.
232.
Certain conditions for applicability of tonnage tax scheme.
233.
Amalgamation and demerger.
234.
Avoidance of tax and exclusion from tonnage tax scheme.
235.
Interpretation.
Chapter XIV–Tax Administration
A.–Authorities, Jurisdiction and Functions
236.
Income-tax authorities.
237.
Appointment of income-tax authorities.
238.
Control of income-tax authorities.
239.
Instructions to subordinate authorities.
240.
Taxpayer’s Charter.
241.
Jurisdiction of income-tax authorities.
242.
Jurisdiction of Assessing Officers.
243.
Power to transfer cases.
244.
Change of incumbent of an office.
245.
Faceless jurisdiction of income-tax authorities.
B.–Powers
246.
Power regarding discovery, production of evidence, etc.
247.
Search and seizure.
248.
Powers to requisition.
249.
Reasons not to be disclosed.
250.
Application of seized or requisitioned assets.
251.
Copying, extraction, retention and release of books of account and documents seized or requisitioned.
252.
Power to call for information.
253.
Powers of survey.
254.
Power to collect certain information.
255.
Power to inspect registers of companies.
256.
Power of certain income-tax authorities.
257.
Proceedings before income-tax authorities to be judicial proceedings.
258.
Disclosure of information relating to assessees.
259.
Power to call for information by prescribed income-tax authority.
260.
Faceless collection of information.
261.
Interpretation.
Chapter XV–Return of Income
A.–Allotment of Permanent Account Number
262.
Permanent Account Number.
B.–Filing of return of income
263.
Return of income.
264.
Scheme for submission of returns through tax return preparers.
265.
Return by whom to be verified.
266.
Self-assessment.
267.
Tax on updated return.
Chapter XVI–Procedure for Assessment
A.–Procedure for Assessment
268.
Inquiry before assessment.
269.
Estimation of value of assets by Valuation Officer.
270.
Assessment.
271.
Best judgment assessment.
272.
Power of Joint Commissioner to issue directions in certain cases.
273.
Faceless Assessment.
274.
Reference to Principal Commissioner or Commissioner in certain cases.
275.
Reference to Dispute Resolution Panel.
276.
Method of accounting.
277.
Method of accounting in certain cases.
278.
Taxability of certain income.
279.
Income escaping assessment.
280.
Issue of notice where income has escaped assessment.
281.
Procedure before issuance of notice under section 280.
282.
Time limit for notices under sections 280 and 281.
283.
Provision for cases where assessment is in pursuance of an order on appeal, etc.
284.
Sanction for issue of notice.
285.
Other provisions.
286.
Time limit for completion of assessment, reassessment and recomputation.
287.
Rectification of mistake.
288.
Other amendments.
289.
Notice of demand.
290.
Modification and revision of notice in certain cases.
291.
Intimation of loss.
B.–Special procedure for assessment of search cases
292.
Assessment of total undisclosed income as a result of search.
293.
Computation of total undisclosed income of block period.
294.
Procedure for block assessment.
295.
Undisclosed income of any other person.
296.
Time-limit for completion of block assessment.
297.
Certain interests and penalties not to be levied or imposed.
298.
Levy of interest and penalty in certain cases.
299.
Authority competent to make assessment of block period.
300.
Application of other provisions of Act.
301.
Interpretation.
Chapter XVII–Special Provisions Relating to Certain Persons
A.–Association of Persons, Firm, Hindu Undivided Family, etc.
302.
Legal representative.
303.
Representative assessee.
304.
Liability of representative assessee.
305.
Right of representative assessee to recover tax paid.
306.
Who may be regarded as agent.
307.
Charge of tax where share of beneficiaries unknown.
308.
Charge of tax in case of oral trust.
309.
Method of computing a member’s share in income of association of persons or body of individuals.
310.
Share of member of association of persons or body of individuals in income of association or body.
311.
Charge of tax where shares of members in association of persons or body of individuals unknown, etc.
312.
Executor.
313.
Succession to business or profession otherwise than on death.
314.
Effect of order of tribunal or court in respect of business reorganisation.
315.
Assessment after partition of Hindu undivided family.
316.
Shipping business of non-residents.
317.
Assessment of persons leaving India.
318.
Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose.
319.
Assessment of persons likely to transfer property to avoid tax.
320.
Discontinued business.
321.
Association dissolved or business discontinued.
322.
Company in liquidation.
323.
Liability of directors of private company.
324.
Charge of tax in case of a firm.
325.
Assessment as a firm.
326.
Assessment when section 325 not complied with.
327.
Change in constitution of a firm.
328.
Succession of one firm by another firm.
329.
Joint and several liability of partners for tax payable by firm.
330.
Firm dissolved or business discontinued.
331.
Liability of partners of limited liability partnership in liquidation.
B.–Special provisions for registered non-profit organisation
332.
Application for registration.
333.
Switching over of regimes.
334.
Tax on income of registered non-profit organisation.
335.
Regular income.
336.
Taxable regular income.
337.
Specified income.
338.
Income not to be included in regular income.
339.
Corpus donation.
340.
Deemed corpus donation.
341.
Application of income.
342.
Accumulated income.
343.
Deemed accumulated income.
344.
Business undertaking held as property.
345.
Restriction on commercial activities by a registered non-profit organisation.
346.
Restriction on commercial activities by registered non-profit organisation, carrying out advancement of any other object of general public utility.
347.
Books of account.
348.
Audit.
349.
Return of income.
350.
Permitted modes of investment.
351.
Specified violation.
352.
Tax on accreted income.
353.
Other violations.
354.
Application for approval for purpose of section 133(1)(b)(ii).
354A.
Merger of registered non-profit organisation in certain cases.
355.
Interpretation.
Chapter XVIII–Appeals, Revisions and Alternate Dispute Resolutions
A.–Appeals
356.
Appealable orders before Joint Commissioner (Appeals).
357.
Appealable orders before Commissioner (Appeals).
358.
Form of appeal and limitation.
359.
Procedure in appeal.
360.
Powers of Joint Commissioner (Appeals) or Commissioner (Appeals).
361.
Appellate Tribunal.
362.
Appeals to Appellate Tribunal.
363.
Orders of Appellate Tribunal.
364.
Procedure of Appellate Tribunal.
365.
Appeal to High Court.
366.
Case before High Court to be heard by not less than two Judges.
367.
An appeal shall lie to the Supreme Court from any judgment of the High
368.
Hearing before Supreme Court.
369.
Tax to be paid irrespective of appeal, etc.
370.
Execution for costs awarded by Supreme Court.
371.
Amendment of assessment on appeal.
372.
Exclusion of time taken for copy.
373.
Filing of appeal by income-tax authority.
374.
Interpretation of “High Court”.
375.
Procedure when assessee claims identical question of law is pending before High Court or Supreme Court.
376.
Procedure where an identical question of law is pending before High Courts or Supreme Court.
C.–Revision by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner
377.
Revision of orders prejudicial to revenue.
378.
Revision of other orders.
D.–Alternate Dispute Resolutions
379.
Dispute Resolution Committee.
380.
Interpretation.
381.
Board for Advance Rulings.
382.
Vacancies, etc., not to invalidate proceedings.
383.
Application for advance ruling.
384.
Procedure on receipt of application.
385.
Appellate authority not to proceed in certain cases.
386.
Advance ruling to be void in certain circumstances.
387.
Powers of the Board for Advance Rulings.
388.
Procedure of Board for Advance Rulings.
389.
Appeal.
Chapter XIX–Collection and Recovery of Tax
A.–General
390.
Deduction or collection at source and advance payment.
391.
Direct payment.
B.–Deduction and collection at source
392.
Salary and accumulated balance due to an employee.
393.
Tax to be deducted at source.
394.
Collection of tax at source.
395.
Certificates.
396.
Tax deducted is income received.
397.
Compliance and reporting.
398.
Consequences of failure to deduct or pay or, collect or pay.
399.
Processing.
400.
Power of Central Government to relax provisions of this Chapter.
401.
Bar against direct demand on assessee.
402.
Interpretation.
C.–Advance payment of tax
403.
Liability for payment of advance tax.
404.
Conditions of liability to pay advance tax.
405.
Computation of advance tax.
406.
Payment of advance tax by assessee on his own accord.
407.
Payment of advance tax by assessee in pursuance of order of Assessing Officer.
408.
Instalments of advance tax and due dates.
409.
When assessee is deemed to be in default.
410.
Credit for advance tax.
D.–Collection and Recovery
411.
When tax payable and when assessee deemed in default.
412.
Penalty payable when tax in default.
413.
Certificate by Tax Recovery Officer and validity thereof.
414.
Tax Recovery Officer by whom recovery is to be effected.
415.
Stay of proceedings in pursuance of certificate and amendment or cancellation thereof.
416.
Other modes of recovery.
417.
Recovery through State Government.
418.
Recovery of tax in pursuance of agreements with foreign countries.
419.
Recovery of penalties, fine, interest and other sums.
420.
Tax clearance certificate.
421.
Recovery by suit or under other law not affected.
422.
Recovery of tax arrear in respect of non-resident from his assets.
E.–Interest chargeable in certain cases
423.
Interest for defaults in furnishing return of income.
424.
Interest for defaults in payment of advance tax.
425.
Interest for deferment of advance tax.
426.
Interest on excess refund.
F.–Levy of Fee in Certain Cases
427.
Fee for default in furnishing statements.
428.
Fee for default in furnishing return of income, audited accounts and reports.
429.
Fee for default relating to statement or certificate.
430.
Fee for default relating to intimation of Aadhaar number.
Chapter XX–Refunds
431.
Refunds.
432.
Person entitled to claim refund in certain special cases.
433.
Form of claim for refund and limitation.
434.
Refund for denying liability to deduct tax in certain cases.
435.
Refund on appeal, etc.
436.
Correctness of assessment not to be questioned.
437.
Interest on refunds.
438.
Set off and withholding of refunds in certain cases.
Chapter XXI–Penalties
439.
Penalty for under-reporting and misreporting of income.
440.
Waiver of penalty and immunity from prosecution.
441.
Failure to keep, maintain or retain books of account, documents, etc.
442.
Penalty for failure to keep and maintain information and document, etc., in respect of certain transactions.
443.
Omitted vide Finance Act, 2026, with effect from 1-4-2026
444.
Penalty for false entry, etc., in books of account.
445.
Benefits to related persons.
446.
Penalty for failure to furnish information or for furnishing inaccurate information on transaction of crypto-asset.
447.
Omitted vide Finance Act, 2026, with effect from 1-4-2026
448.
Penalty for failure to deduct tax at source.
449.
Penalty for failure to collect tax at source.
450.
Penalty for failure to comply with provisions of section 185.
451.
Penalty for failure to comply with provisions of section 186.
452.
Penalty for failure to comply with provisions of section 187.
453.
Penalty for failure to comply with provisions of section 188.
454.
Penalty for failure to furnish statement of financial transaction or reportable account after a notice.
455.
Penalty for furnishing inaccurate statement of financial transaction or reportable account.
456.
Penalty for failure to furnish statement or information or document by an eligible investment fund.
457.
Penalty for failure to furnish information or document under section 171.
458.
Penalty for failure to furnish information or document under section 506.
459.
Penalty for failure to furnish report or for furnishing inaccurate report under section 511.
460.
Penalty for failure to submit statement under section 505.
461.
Penalty for failure to furnish statements, etc.
462.
Penalty for failure to furnish information or furnishing inaccurate information under section 397 (3)(d).
463.
Penalty for furnishing incorrect information in reports or certificates.
464.
Penalty for failure to furnish statements, etc.
465.
Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc.
466.
Penalty for failure to comply with the provisions of section 254.
467.
Penalty for failure to comply with the provisions of sections 262 and 397.
468.
Penalty for failure to comply with the provisions of section 397.
469.
Power to reduce or waive penalty, etc., in certain cases.
470.
Penalty not to be imposed in certain cases.
471.
Procedure.
472.
Bar of limitation for imposing penalties.
Chapter XXII–Offences and Prosecution
473.
Contravention of order made during search action.
474.
Failure to afford facility for inspection of books of account during search.
475.
Removal, concealment, transfer or delivery of property to prevent tax recovery.
476.
Failure to pay tax to credit of Central Government under Chapter XIX-B.
477.
Failure to pay tax collected at source.
478.
Wilful attempt to evade tax, etc.
479.
Failure to furnish returns of income.
480.
Failure to furnish return of income setting forth undisclosed income.
481.
Failure to comply with a direction of special audit or valuation.
482.
False statement in verification, etc.
483.
Falsification of books of account or document, etc.
484.
Abetment of false return, etc.
485.
Punishment for second and subsequent offences.
486.
Punishment not to be imposed in certain cases.
487.
Offences by companies.
488.
Offences by Hindu undivided family.
489.
Presumption as to assets, books of account, etc., in certain cases.
490.
Presumption as to culpable mental state.
491.
Prosecution to be at instance of Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner.
492.
Certain offences to be noncognizable.
493.
Proof of entries in records or documents.
494.
Disclosure of particulars by public servants.
495.
Special Courts.
496.
Offences triable by Special Court.
497.
Trial of offences as summons case.
498.
Application of Bharatiya Nagarik Suraksha Sanhita, 2023 to proceedings before Special Court.
Chapter XXIII–Miscellaneous
499.
Certain transfers to be void.
500.
Provisional attachment to protect revenue in certain cases.
501.
Service of notice, generally.
502.
Authentication of notices and other documents.
503.
Service of notice when family is disrupted or firm etc., is dissolved.
504.
Service of notice in case of discontinued business.
505.
Submission of statement by a non-resident having liaison office.
506.
Furnishing of information or documents by an Indian concern in certain cases.
507.
Submission of statements by producers of cinematograph films or persons engaged in specified activity.
508.
Obligation to furnish statement of financial transaction or reportable account.
509.
Obligation to furnish information on transaction of crypto-asset.
510.
Annual information statement.
511.
Furnishing of report in respect of international group.
512.
Publication of information respecting assessees in certain cases.
513.
Appearance by registered valuer in certain matters.
514.
Registration of valuers.
515.
Appearance by authorised representative.
516.
Rounding off of amount of total income, or amount payable or refundable.
517.
Receipt to be given.
518.
Indemnity.
519.
Power to tender immunity from prosecution.
520.
Cognizance of offences.
521.
Probation of Offenders Act, 1958 and section 401 of Bharatiya Nagarik Suraksha Sanhita, 2023, not to apply.
522.
Circumstances in which return of income, assessment, approvals, etc., not to be invalid.
523.
Notice deemed to be valid in certain circumstances.
524.
Presumption as to assets, books of account, etc.
525.
Authorisation and assessment in case of search or requisition.
526.
Bar of suits in civil courts.
527.
Power to make exemption, etc., in relation to participation in business of prospecting for, extraction, etc., of mineral oils.
528.
Power of Central Government or Board to condone delays in obtaining approval.
529.
Power to withdraw approval.
530.
Act to have effect pending legislative provision for charge of tax.
531.
Power to rescind exemption in relation to certain Union territories already granted under section 294A of the Income-tax Act, 1961.
532.
Power to frame schemes.
533.
Power to make rules.
534.
Laying before Parliament.
535.
Removal of difficulties.
536.
Repeal and savings.
Schedule
SCHEDULE
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 “Profits and Gains of Business or Profession”
Schedule X
Deduction for Site Restoration Fund for Computing Income under the Head “Profits and Gains of Business or Profession”
Schedule XI
Part A–Recognised Provident Funds
Part B–Approved Superannuation Funds and Gratuity Funds
Part C–Power to Make Rules for Provident Funds, Superannuation Funds and Gratuity Funds
Schedule XII
Part A–Minerals
Part B–Groups of Associated 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 Registered Non Profit Organisation
SECTION
Foreign Assets of Small Taxpayers Disclosure Scheme, 2026
114.
Short title and commencement.
115.
Definitions.
116.
Declaration by declarant.
117.
Amount payable by declarant.
118.
Manner of making declaration.
119.
Procedure relating to manner of payment.
120.
Any income or asset declared not to be included in total income.
121.
Any income or asset declared not to affect finality of completed assessments.
122.
Amount paid in pursuance of declaration non-refundable.
123.
Grant of immunity from penalty and prosecution.
124.
Non-application of Scheme.
125.
Effect of declaration on pending assessment proceedings.
126.
Power of Board to issue directions, etc.
127.
Power to make rules.
128.
Power to remove difficulties.
Education Cess Provisions
91.
Education Cess.
92.
Definition.
93.
Education Cess on excisable goods.
94.
Education Cess on imported goods.
Secondary and Higher Education Cess
136.
Secondary and Higher Education Cess.
137.
Definition.
138.
Secondary and Higher Education Cess on excisable goods.
139.
Secondary and Higher Education Cess on imported goods.
Securities Transaction Tax Provisions
96.
Extent, commencement and application.
97.
Definitions.
98.
Charge of securities transaction tax.
99.
Value of taxable securities transactions.
100.
Collection and recovery of securities transaction tax.
101.
Recognised stock exchange or Mutual Fund to furnish prescribed return.
102.
Assessment.
103.
Rectification of mistake.
104.
Interest on delayed payment of securities transaction tax.
105.
Penalty for failure to collect or pay securities transaction tax.
106.
Penalty for failure to furnish prescribed return.
107.
Penalty for failure to comply with notice.
108.
Penalty not to be imposed in certain cases.
109.
Application of certain provisions of Act 43 1961.
110.
Appeals to Commissioner of Income Tax (Appeals).
111.
Appeals to the Appellate Tribunal.
112.
False statement in verification, etc.
113.
Institution of proceedings.
113A.
Chapter VII not to apply in certain cases.
114.
Power to make rules.
115.
Power to remove difficulties.
Commodities Transaction Tax Provisions
115.
Extent, commencement and application
116.
Definitions
117.
Charge of commodities transaction tax
118.
Value of taxable commodities transaction
119.
Collection and recovery of commodities transaction tax
120.
Furnishing of return
121.
Assessment
122.
Rectification of mistake
123.
Interest on delayed payment of commodities transaction tax
124.
Penalty for failure to collect or pay commodities transaction tax
125.
Penalty for failure to furnish return
126.
Penalty for failure to comply with notice
127.
Penalty not to be imposed in certain cases
128.
Application of certain provisions of Income-tax Act
129.
Appeal to Commissioner of Income-tax (Appeals)
130.
Appeal to Appellate Tribunal
131.
Punishment for false statement
132.
Institution of prosecution
132A.
Chapter VII not to apply in certain cases
133.
Power to make rules
134.
Power to remove difficulties
Equalisation Levy
163.
Extent, commencement and application
164.
Definitions
165.
Charge of equalisation levy on specified services.
165A.
Charge of equalisation levy of e-commerce supply or services.
166.
Collection and recovery of equalisation levy on specified services.
166A.
Collection and recovery of equalisation levy on e-commerce supply or services.
167.
Furnishing of statement
168.
Processing of statement
169.
Rectification of mistake
170.
Interest on delayed payment of equalisation levy
171.
Penalty for failure to deduct or pay equalisation levy
172.
Penalty for failure to furnish statement
173.
Penalty not to be imposed in certain cases
174.
Appeal to Commissioner of Income-tax (Appeals)
175.
Appeal to Appellate Tribunal
176.
Punishment for false statement
177.
Institution of prosecution
178.
Application of certain provisions of Income-tax Act
179.
Power to make rules
180.
Power to remove difficulties
AMENDMENTS TO CERTAIN ACTS TO PROVIDE FOR MERGER OF TRIBUNALS AND OTHER AUTHORITIES AND CONDITIONS OF SERVICE OF CHAIRPERSONS, MEMBERS, ETC.
A.–Preliminary
156.
Commencement of this Part.
157.
Definitions.
B.–Amendments to the Industrial Disputes Act, 1947 and The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952.
C.–Amendments to the Copyright Act, 1957 and the Trade Marks Act, 1999.
D.–Amendments to the Railway Claims Tribunal Act, 1987 and the Railways Act, 1989.
E.–Amendments to the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 and the Foreign Exchange Management Act, 1999.
F.–Amendments to the Airports Authority of India Act, 1994 and the Control of National Highways (Land and Traffic) Act, 2002.
G.–Amendments to the Telecom Regulatory Authority of India Act, 1997, the Information Technology Act, 2000 and the Airports Economic Regulatory Authority of India Act, 2008.
H.–Amendments to the Competition Act, 2002 and the Companies Act, 2013.
I.–Amendment to the Cinematograph Act, 1952.
J.–Amendments to the Income-Tax Act, 1961.
174.
Amendment of Act 43 of 1961.
K.–Amendment to the Customs Act, 1962.
L.–Amendment to the Administrative Tribunals Act, 1985.
M.–Amendment to the Consumer Protection Act, 1986.
N.–Amendment to the Securities and Exchange Board of India Act, 1992.
O.–Amendments to the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.
P.–Amendment to the Electricity Act, 2003.
Q.–Amendment to the Armed Forces Tribunal Act, 2007
R.–Amendment to the National Green Tribunal Act, 2010.
S.–Conditions of Service of Chairperson and Members of Tribunals, Appellate Tribunals and Other Authorities
183.
Application of section 184.
184.
Qualifications, appointment, term and conditions of service, salary and allowances, etc., of Chairperson, Vice-Chairperson and Members, etc., of the Tribunal, Appellate Tribunal and other Authorities.
T.–Miscellaneous
185.
Transitional provisions.
186.
General Power to make rules.
187.
Power to amend Eighth Schedule.
188.
Rules to be laid before Parliament.
189.
Removal of difficulties.
The Eighth Schedule to Finance Act, 2017
The Ninth Schedule to Finance Act, 2017
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
Chapter I–Preliminary
1.
Short title, extent and commencement.
2.
Definitions
Chapter II–Basis of charge
3.
Charge of tax
4.
Scope of total undisclosed foreign income and asset
5.
Computation of total undisclosed foreign income and asset
Chapter III–Tax Management
6.
Tax authorities
7.
Change of incumbent
8.
Powers regarding discovery and production of evidence
9.
Proceedings before tax authorities to be judicial proceedings
10.
Assessment
11.
Time limit for completion of assessment and reassessment
12.
Rectification of mistake
13.
Notice of demand
14.
Direct assessment or recovery not barred
15.
Appeals to the Commissioner (Appeals)
16.
Procedure to be followed in appeal
17.
Powers of Commissioner (Appeals)
18.
Appeals to Appellate Tribunal
19.
Appeal to High Court
20.
Case before High Court to be heard by not less than two Judges.
21.
Appeal to Supreme Court
22.
Hearing before Supreme Court
23.
Revision of orders prejudicial to revenue
24.
Revision of other orders
25.
Tax to be paid pending appeal
26.
Execution of order costs awarded by Supreme Court
27.
Amendment of assessment on appeal
28.
Exclusion of time taken for obtaining copy
29.
Filing of appeal by tax authority
30.
Recovery of tax dues by Assessing Officer
31.
Recovery of tax dues by Tax Recovery Officer
32.
Modes of recovery of tax dues
33.
Tax Recovery Officer by whom recovery of tax dues is to be effected
34.
Recovery of tax dues in case of a company in liquidation
35.
Liability of manager of a company
36.
Joint and several liability of participants
37.
Recovery through State Government
38.
Recovery of tax dues in pursuance of agreements with foreign countries or specified territory
39.
Recovery by suit or under other law not affected
40.
Interest for default in furnishing return and payment or deferment of advance tax
Chapter IV–Penalties
41.
Penalty in relation to undisclosed foreign income and asset
42.
Penalty for failure to furnish return in relation to foreign income and asset
43.
Penalty for failure to furnish in return of income, an information or furnish inaccurate particulars about an asset (including financial interest in any entity) located outside India
44.
Penalty for default in payment of tax arrear
45.
Penalty for other defaults
46.
Procedure
47.
Bar of limitation for imposing penalty
Chapter V–Offences and Prosecutions
48.
Chapter not in derogation of any other law or any other provision of this Act
49.
Punishment for failure to furnish return in relation to foreign income and asset
50.
Punishment for failure to furnish in return of income, any information about an asset (including financial interest in any entity) located outside India
51.
Punishment for wilful attempt to evade tax
52.
Punishment for false statement in verification
53.
Punishment for abetment
54.
Presumption as to culpable mental state
55.
Prosecution to be at instance of Principal Chief Commissioner or Principal Director General or Chief Commissioner or Director General or Principal Commissioner or Commissioner.
56.
Offences by companies
57.
Proof of Entries in records or documents
58.
Punishment for second and subsequent offences
Chapter VI–Tax Compliance for Undisclosed Foreign Income and Assets
59.
Declaration of undisclosed foreign asset
60.
Charge of tax
61.
Penalty
62.
Manner of declaration
63.
Time for payment of tax
64.
Undisclosed foreign asset declared not to be included in total income
65.
Undisclosed foreign asset declared not to affect finality of completed assessments
66.
Tax in respect of voluntarily disclosed asset not refundable
67.
Declaration not admissible in evidence against declarant
68.
Declaration by misrepresentation of facts to be void
69.
Exemption from wealth-tax in respect of assets specified in declaration
70.
Applicability of certain provisions of Income-tax Act and of Chapter V of Wealth-tax Act
71.
Chapter not to apply to certain persons
72.
Removal of doubts
Chapter VII–General Provisions
73.
Agreement with foreign countries or specified territories
74.
Service of notice generally
75.
Authentication of notices and other documents
76.
Notice deemed to be valid in certain circumstances
77.
Appearance by approved valuer in certain matters
78.
Appearance by authorised representative
79.
Rounding off of income, value of asset and tax
80.
Congnizance of offences
81.
Assessment not to be invalid on certain grounds
82.
Bar of suits in civil courts
83.
Income-tax papers to be available for purposes of this Act
84.
Application of provisions of Income-tax Act
85.
Power to make rules
86.
Power to remove difficulties
87.
Amendment of section 2 of Act 54 of 1963
88.
Amendment of Act of 15 of 2003
Direct Tax Vivad Se Vishwas Scheme, 2024
88.
Short title and commencement.
89.
Definitions.
90.
Amount payable by declarant.
91.
Filing of declaration and particulars to be furnished.
92.
Time and manner of payment.
93.
Immunity from initiation of proceedings in respect of offence and imposition of penalty in certain cases.
94.
No refund of amount paid.
95.
No benefit, concession or immunity to declarant.
96.
Scheme not to apply in certain cases.
97.
Power of Board to issue directions, etc.
98.
Power to remove difficulties.
99.
Power to make rules.
Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020
Chapter I–Preliminary
1.
Short title and commencement.
2.
Definitions.
Chapter II–Relaxation of Certain Provisions of Specified Act
3.
Relaxation of certain provisions of specified Act.
Chapter III–Amendments to the Income Tax Act, 1961
4.
Amendment of Act 43 of 1961
Chapter IV–Amendments to the Direct Tax Vivad Se Vishwas Act
5.
Amendment of section 3 of Act 2 of 2020.
Chapter V–Relaxation of Time Limit under Certain Indirect Tax Laws
6.
Relaxation of time limit under Central Excise Act, 1944, Customs Act, 1962, Customs Tariff Act, 1975 and Finance Act, 1994.
Chapter VI–Amendment to the Central Goods and Services Tax Act , 2017
7.
Insertion of new section 168A in Act 12 of 2017.
Chapter VII–Amendment to the Finance (No. 2) Act, 2019
8.
Amendment of section 127 of Act 23 of 2019.
Chapter VIII–Amendment to the Finance Act, 2020
9.
Amendment of Act 12 of 2020.
10.
Power to remove difficulties.
11.
Repeal and savings.
Validation and Other Provisions–Relating to Income Tax Act, 1961
Finance Act, 2012
119.
Validation of demands, etc., under Income-tax Act, 1961 in certain cases.
Jammu and Kashmir Reorganisation Act, 2019
87.
Special provision as to income-tax.
Additional information
BINDING
PAPERBACK
AUTHOR
Tax Publishers
EDITION
2026
PUBLICATION
Tax Publishers
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