06 July 2015
respected expert , i want to know how the income tax act 1961 is classified .....as it has chapters in which we have sections which have clauses and sub sections ...... so i want the whole classification detail of the income tax act 1961. seeking a positive reply.
06 July 2015
Section - 1 Short title, extent and commencement Section - 2 Definitions Section - 3 "Previous year" defined Section - 4 Charge of income-tax Section - 5 Scope of total income Section - 5A Apportionment of income between spouses governed by Portuguese Civil Code Section - 6 Residence in India Section - 7 Income deemed to be received Section - 8 Dividend income Section - 9 Income deemed to accrue or arise in India Section - 9A Certain activities not to constitute business connection in India Section - 10 Incomes not included in total income Section - 10A Special provision in respect of newly established undertakings in free trade zone, etc. Section - 10AA Special provisions in respect of newly established Units in Special Economic Zones Section - 10B Special provisions in respect of newly established hundred per cent export-oriented undertakings Section - 10BA Special provisions in respect of export of certain articles or things Section - 10BB Meaning of computer programmes in certain cases Section - 10C Special provision in respect of certain industrial undertakings in North-Eastern Region Section - 11 Income50 from property held for charitable or religious purposes Section - 12 Income of trusts or institutions from contributions Section - 12A Conditions for applicability of sections 11 and 12 Section - 12AA Procedure for registration Section - 13 Section 11 not to apply in certain cases Section - 13A Special provision relating to incomes of political parties Section - 13B Special provisions relating to voluntary contributions received by electoral trust Section - 14 Heads of income Section - 14A Expenditure incurred in relation to income not includible in total income87 Section - 15 Salaries Section - 16 Deductions from salaries Section - 17 "Salary", "perquisite" and "profits in lieu of salary" defined Section - 18 [Omitted by the Finance Act, 1988, w.e.f. 1-4-1989] Section - 19 [Omitted by the Finance Act, 1988, w.e.f. 1-4-1989] Section - 20 [Omitted by the Finance Act, 1988, w.e.f. 1-4-1989] Section - 21 [Omitted by the Finance Act, 1988, w.e.f. 1-4-1989] Section - 22 Income from house property Section - 23 Annual value how determined Section - 24 Deductions from income from house property Section - 25 Amounts not deductible from income from house property Section - 25A Special provision for cases where unrealised rent allowed as deduction is realised subsequently Section - 25AA Unrealised rent received subsequently to be charged to income-tax Section - 25B Special provision for arrears of rent received Section - 26 Property owned by co-owners Section - 27 "Owner of house property", "annual charge", etc., defined Section - 28 Profits and gains of business or profession Section - 29 Income from profits and gains of business or profession, how computed Section - 30 Rent, rates, taxes, repairs and insurance for buildings Section - 31 Repairs and insurance of machinery, plant and furniture Section - 32 Depreciation Section - 32A Investment allowance Section - 32AB Investment deposit account Section - 32AC Investment in new plant or machinery Section - 32AD Investment in new plant or machinery in notified backward areas in certain States Section - 33 Development rebate Section - 33A Development allowance Section - 33AB Tea development account 39[,coffee development account and rubber deve-lopment account Section - 33ABA Site Restoration Fund Section - 33AC Reserves for shipping business Section - 33B Rehabilitation allowance Section - 34 Conditions for depreciation allowance and development rebate Section - 34A Restriction on unabsorbed depreciation and unabsorbed investment allowance for limited period in case of certain domestic companies Section - 35 Expenditure on scientific research Section - 35A Expenditure on acquisition of patent rights or copyrights Section - 35AB Expenditure on know-how Section - 35ABB Expenditure for obtaining licence to operate telecommunication services Section - 35AC Expenditure on eligible projects or schemes Section - 35AD Deduction in respect of expenditure on specified business Section - 35B Export markets development allowance Section - 35C Agricultural development allowance Section - 35CC Rural development allowance Section - 35CCA Expenditure by way of payment to associations and institutions for carrying out rural development programmes Section - 35CCB Expenditure by way of payment to associations and institutions for carrying out programmes of conservation of natural resources Section - 35CCC Expenditure on agricultural extension project Section - 35CCD Expenditure on skill development project Section - 35D Amortisation of certain preliminary expenses Section - 35DD Amortisation of expenditure in case of amalgamation or demerger Section - 35DDA Amortisation of expenditure incurred under voluntary retirement scheme Section - 35E Deduction for expenditure on prospecting, etc., for certain minerals Section - 36 Other deductions Section - 37 General Section - 38 Building, etc., partly used for business, etc., or not exclusively so used Section - 39 Managing agency commission Section - 40 Amounts not deductible Section - 40A Expenses or payments not deductible in certain circumstances Section - 41 Profits chargeable to tax Section - 42 Special provision for deductions in the case of business for prospecting, etc., for mineral oil Section - 43 Definitions of certain terms relevant to income from profits and gains of business or profession Section - 43A Special provisions consequential to changes in rate of exchange of currency Section - 43B Certain deductions to be only on actual payment20 Section - 43C Special provision for computation of cost of acquisition of certain assets Section - 43CA Special provision for full value of consideration for transfer of assets other than capital assets in certain cases Section - 43D Special provision in case of income of public financial institutions, public companies, etc Section - 44 Insurance business Section - 44A Special provision for deduction in the case of trade, professional or similar association Section - 44AA Maintenance of accounts by certain persons carrying on profession or business Section - 44AB Audit of accounts of certain persons carrying on business or profession Section - 44AC Special provision for computing profits and gains from the business of trading in certain goods Section - 44AD Special provision for computing profits and gains of business on presumptive basis Section - 44AE Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages Section - 44AF Special provisions for computing profits and gains of retail business Section - 44B Special provision for computing profits and gains of shipping business in the case of non-residents Section - 44BB Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils Section - 44BBA Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents Section - 44BBB Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects Section - 44C Deduction of head office expenditure in the case of non-residents Section - 44D Special provisions for computing income by way of royalties, etc., in the case of foreign companies Section - 44DA Special provision for computing income by way of royalties, etc., in case of non-residents Section - 44DB Special provision for computing deductions in the case of business reorganization of co-operative banks Section - 45 Capital gains Section - 46 Capital gains on distribution of assets by companies in liquidation Section - 46A Capital gains on purchase by company of its own shares or other specified securities Section - 47 Transactions not regarded as transfer82 Section - 47A Withdrawal of exemption in certain cases Section - 48 Mode of computation Section - 49 Cost with reference to certain modes of acquisition Section - 50 Special provision for computation of capital gains in case of depreciable assets Section - 50A Special provision for cost of acquisition in case of depreciable asset Section - 50B Special provision for computation of capital gains in case of slump sale Section - 50C Special provision for full value of consideration in certain cases Section - 50D Fair market value deemed to be full value of consideration in certain cases Section - 51 Advance money received Section - 52 Consideration for transfer in cases of understatement Section - 53 Exemption of capital gains from a residential house Section - 54 Profit on sale of property used for residence Section - 54A Relief of tax on capital gains in certain cases Section - 54B Capital gain on transfer of land used for agricultural purposes not to be charged in certain cases Section - 54C Capital gain on transfer of jewellery held for personal use not to be charged in certain cases Section - 54D Capital gain on compulsory acquisition of lands and buildings not to be charged in certain cases Section - 54E Capital gain on transfer of capital assets not to be charged in certain cases Section - 54EA Capital gain on transfer of long-term capital assets not to be charged in the case of investment in 81[specified securities] Section - 54EB Capital gain on transfer of long-term capital assets not to be charged in certain cases Section - 54EC Capital gain not to be charged on investment in certain bonds Section - 54ED Capital gain on transfer of certain listed securities or unit not to be charged in certain cases Section - 54F Capital gain on transfer of certain capital assets not to be charged in case of investment in residential house Section - 54G Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area Section - 54GA Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone Section - 54GB Capital gain on transfer of residential property not to be charged in certain cases Section - 54H Extension of time for acquiring new asset or depositing or investing amount of capital gain Section - 55 Meaning of "adjusted", "cost of improvement" and "cost of acquisition" Section - 55A Reference to Valuation Officer Section - 56 Income from other sources Section - 57 Deductions Section - 58 Amounts not deductible Section - 59 Profits chargeable to tax Section - 60 Transfer of income where there is no transfer of assets Section - 61 Revocable transfer of assets Section - 62 Transfer irrevocable for a specified period Section - 63 "Transfer" and "revocable transfer" defined Section - 64 Income of individual to include income of spouse, minor child, etc Section - 65 Liability of person in respect of income included in the income of another person Section - 66 Total income Section - 67 Method of computing a partner's share in the income of the firm Section - 67A Method of computing a member's share in income of association of persons or body of individuals Section - 68 Cash credits Section - 69 Unexplained investments Section - 69A Unexplained money, etc Section - 69B Amount of investments, etc., not fully disclosed in books of account Section - 69C Unexplained expenditure, etc Section - 69D Amount borrowed or repaid on hundi Section - 70 Set off of loss from one source against income from another source under the same head of income Section - 71 Set off of loss from one head against income from another Section - 71A Transitional provisions for set off of loss under the head "Income from house property" Section - 71B Carry forward and set off of loss from house property Section - 72 Carry forward and set off of business losses Section - 72A Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in amalgamation or demerger, etc Section - 72AA Provisions relating to carry forward and set-off of accumulated loss and unabsorbed depreciation allowance in scheme of amalgamation of banking company in certain cases Section - 72AB Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in business reorganisation of co-operative banks Section - 73 Losses in speculation business Section - 73A Carry forward and set off of losses by specified business Section - 74 Losses under the head "Capital gains" Section - 74A Losses from certain specified sources falling under the head "Income from other sources" Section - 75 Losses of firms Section - 76 Omitted by the Finance Act, 1992, w.e.f. 1-4-1993 Section - 77 Omitted by the Finance Act, 1992, w.e.f. 1-4-1993 Section - 78 Carry forward and set off of losses in case of change in constitution of firm or on succession Section - 79 Carry forward and set off of losses in the case of certain companies Section - 80 Submission of return for losses Section - 80A Deductions to be made in computing total income Section - 80AA Computation of deduction under section 80M Section - 80AB Deductions to be made with reference to the income included in the gross total income Section - 80AC Deduction not to be allowed unless return furnished Section - 80B Definitions Section - 80C Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc Section - 80CC Deduction in respect of investment in certain new shares Section - 80CCA Deduction in respect of deposits under National Savings Scheme or payment to a deferred annuity plan Section - 80CCB Deduction in respect of investment made under Equity Linked Savings Scheme Section - 80CCC Deduction in respect of contribution to certain pension funds Section - 80CCD Deduction in respect of contribution to pension scheme of Central Government Section - 80CCE Limit on deductions under sections 80C, 80CCC and 80CCD Section - 80CCF Deduction in respect of subscription to long-term infrastructure bonds Section - 80CCG Deduction in respect of investment made under an equity savings scheme Section - 80D Deduction in respect of health insurance premia Section - 80DD Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability Section - 80DDB Deduction in respect of medical treatment, etc Section - 80E Deduction in respect of interest on loan taken for higher education Section - 80EE Deduction in respect of interest on loan taken for residential house property Section - 80F Deduction in respect of educational expenses in certain cases Section - 80FF Deduction in respect of expenses on higher education in certain cases Section - 80G Deduction in respect of donations to certain funds, charitable institutions, etc Section - 80GG Deductions in respect of rents paid Section - 80GGA Deduction in respect of certain donations for scientific research or rural development Section - 80GGB Deduction in respect of contributions given by companies to political parties Section - 80GGC Deduction in respect of contributions given by any person to political parties Section - 80H Deduction in case of new industrial undertakings employing displaced persons, etc Section - 80HH Deduction in respect of profits and gains from newly established industrial undertakings or hotel business in backward areas Section - 80HHA Deduction in respect of profits and gains from newly established small-scale industrial undertakings in certain areas Section - 80HHB Deduction in respect of profits and gains from projects outside India Section - 80HHBA Deduction in respect of profits and gains from housing projects in certain cases Section - 80HHC Deduction in respect of profits retained for export business Section - 80HHD Deduction in respect of earnings in convertible foreign exchange Section - 80HHE Deduction in respect of profits from export of computer software, etc Section - 80HHF Deduction in respect of profits and gains from export or transfer of film software, etc Section - 80-I Deduction in respect of profits and gains from industrial undertakings after a certain date, etc Section - 80-IA Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc Section - 80-IAB Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone Section - 80-IB Deduction in respect of profits and gains from certain industrial undertakings other than infrastructure development undertakings Section - 80-IC Special provisions in respect of certain undertakings or enterprises in certain special category States Section - 80-ID Deduction in respect of profits and gains from business of hotels and convention centres in specified area Section - 80-IE Special provisions in respect of certain undertakings in North-Eastern States Section - 80J Deduction in respect of profits and gains from newly established industrial undertakings or ships or hotel business in certain cases Section - 80JJ Deduction in respect of profits and gains from business of poultry farming Section - 80JJA Deduction in respect of profits and gains from business of collecting and processing of bio-degradable waste Section - 80JJAA Deduction in respect of employment of new workmen Section - 80K Deduction in respect of dividends attributable to profits and gains from new industrial undertakings or ships or hotel business Section - 80L Deductions in respect of interest on certain securities, dividends, etc Section - 80LA Deductions in respect of certain incomes of Offshore Banking Units and International Financial Services Centre Section - 80M Deduction in respect of certain inter-corporate dividends Section - 80MM Deduction in the case of an Indian company in respect of royalties, etc., received from any concern in India Section - 80N Deduction in respect of dividends received from certain foreign companies Section - 80-O Deduction in respect of royalties, etc., from certain foreign enterprises Section - 80P Deduction in respect of income of co-operative societies. Section - 80Q Deduction in respect of profits and gains from the business of publication of books Section - 80QQ Deduction in respect of profits and gains from the business of publication of books Section - 80QQA Deduction in respect of professional income of authors of text books in Indian languages Section - 80QQB Deduction in respect of royalty income, etc., of authors of certain books other than text-books Section - 80R Deduction in respect of remuneration from certain foreign sources in the case of professors, teachers, etc Section - 80RR Deduction in respect of professional income from foreign sources in certain cases Section - 80RRA Deduction in respect of remuneration received for services rendered outside India Section - 80RRB Deduction in respect of royalty on patents Section - 80S Deduction in respect of compensation for termination of managing agency, etc., in the case of assessees other than companies Section - 80T Deduction in respect of long-term capital gains in the case of assessees other than companies Section - 80TT Deduction in respect of winnings from lottery Section - 80TTA Deduction in respect of interest on deposits in savings account Section - 80U Deduction in case of a person with disability Section - 80V Deduction from gross total income of the parent in certain cases Section - 80VV Deduction in respect of expenses incurred in connection with certain proceedings under the Act Section - 80VVA omitted by the Finance Act, 1987, w.e.f. 1-4-1988 Section - 81 to 85C Section - 86 Share of member of an association of persons or body of individuals in the income of the association or body Section - 86A Deduction from tax on certain securities Section - 87 Rebate to be allowed in computing income-tax Section - 87A Rebate of income-tax in case of certain individuals Section - 88 Rebate on life insurance premia, contribution to provident fund, etc Section - 88A Rebate in respect of investment in certain new shares or units Section - 88B Rebate of income-tax in case of individuals of sixty-five years or above Section - 88C Rebate of income-tax in case of women below sixty-five years Section - 88D Rebate of income-tax in case of certain individuals Section - 88E Rebate in respect of securities transaction tax Section - 89 Relief when salary, etc., is paid in arrears or in advance Section - 89A Tax relief in relation to export turnover Section - 90 Agreement with foreign countries or specified territories Section - 90A Adoption by Central Government of agreement between specified associations for double taxation relief Section - 91 Countries with which no agreement exists Section - 92 Computation of income from international transaction having regard to arm's length price Section - 92A Meaning of associated enterprise Section - 92B Meaning of international transaction Section - 92BA Meaning of specified domestic transaction Section - 92C Computation of arm's length price Section - 92CA Reference to Transfer Pricing Officer Section - 92CB Power of Board to make safe harbour rules Section - 92CC Advance pricing agreement Section - 92CD Effect to advance pricing agreement Section - 92D Maintenance and keeping of information and document by persons entering into an international transaction Section - 92E Report from an accountant to be furnished by persons entering into international transaction Section - 92F Definitions of certain terms relevant to computation of arm's length price, etc Section - 93 Avoidance of income-tax by transactions resulting in transfer of income to non-residents Section - 94 Avoidance of tax by certain transactions in securities Section - 94A Special measures in respect of transactions with persons located in notified jurisdictional area Section - 95 Applicability of General Anti-Avoidance Rule Section - 96 Impermissible avoidance arrangement. Section - 97 Arrangement to lack commercial substance Section - 98 Consequences of impermissible avoidance arrangement Section - 99 Treatment of connected person and accommodating party Section - 100 Application of this Chapter Section - 101 Framing of guidelines Section - 102 Definitions Section - 95 to 103 GENERAL ANTI-AVOIDANCE RULE Section - 104 Income-tax on undistributed income of certain companies Section - 105 Special provisions for certain companies Section - 106 Period of limitation for making orders under section 104 Section - 107 Approval of Inspecting Assistant Commissioner for orders under section 104 Section - 107A Reduction of minimum distribution in certain cases Section - 108 Savings for company in which public are substantially interested Section - 109 Section - 110 Determination of tax where total income includes income on which no tax is payable Section - 111 Tax on accumulated balance of recognised provident fund Section - 111A Tax on short-term capital gains in certain cases Section - 112 Tax on long-term capital gains Section - 112A Tax on interest on National Savings Certificates (First Issue) Section - 113 Tax in the case of block assessment of search cases Section - 114 Tax on capital gains in cases of assessees other than companies Section - 115 Tax on capital gains in case of companies Section - 115A Tax on dividends, royalty and technical service fees in the case of foreign companies Section - 115AB Tax on income from units purchased in foreign currency or capital gains arising from their transfer Section - 115AC Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer Section - 115ACA Tax on income from Global depository receipts purchased in foreign currency or capital gains arising from their transfer Section - 115AD Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer Section - 115B Tax on profits and gains of life insurance business Section - 115BB Tax on winnings from lotteries, crossword puzzles, races including horse races, card games and other games of any sort or gambling or betting of any form or nature whatsoever Section - 115BBA Tax on non-resident sportsmen or sports associations Section - 115BBB Tax on income from units of an open-ended equity oriented fund of the Unit Trust of India or of Mutual Funds Section - 115BBC Anonymous donations to be taxed in certain cases Section - 115BBD Tax on certain dividends received from foreign companies Section - 115BBE Tax on income referred to in section 68 or section 69 or section 69A or section 69B or section 69C or section 69D Section - 115C Definitions Section - 115D Special provision for computation of total income of non-residents Section - 115E Tax on investment income58a and long-term capital gains Section - 115F Capital gains on transfer of foreign exchange assets not to be charged in certain cases Section - 115G Return of income not to be filed in certain cases Section - 115H Benefit under Chapter to be available in certain cases even after the assessee becomes resident Section - 115-I Chapter not to apply if the assessee so chooses Section - 115J Special provisions relating to certain companies Section - 115JA Deemed income relating to certain companies Section - 115JAA Tax credit in respect of tax paid on deemed income relating to certain companies Section - 115JB Special provision for payment of tax by certain companies Section - 115JC Special provisions for payment of tax by certain persons other than a company Section - 115JD Tax credit for alternate minimum tax Section - 115JE Application of other provisions of this Act Section - 115JEE Application of this Chapter to certain persons Section - 115JF Interpretation in this Chapter Section - 115JG Conversion of an Indian branch of foreign company into subsidiary Indian company Section - 115K Special provision for computation of income in certain cases Section - 115L Return of income not to be filed in certain cases Section - 115M Special provision for disallowance of deductions and rebate of income-tax Section - 115N Bar of proceedings in certain cases Section - 115-O Tax on distributed profits of domestic companies Section - 115P Interest payable for non-payment of tax by domestic companies Section - 115Q When company is deemed to be in default Section - 115QA Tax on distributed income to shareholders Section - 115QB Interest payable for non-payment of tax by company Section - 115QC When company is deemed to be assessee in default Section - 115R Tax on distributed income to unit holders Section - 115S Interest payable for non-payment of tax Section - 115T Unit trust of India or mutual fund to be an assessee in default Section - 115TA Tax on distributed income to investors Section - 115TB Interest payable for non-payment of tax Section - 115TC Securitisation trust to be assessee in default Section - 115U Tax on income in certain cases Section - 115V Definitions Section - 115UA Tax on income of unit holder and business trust Section - 115UB Tax on income of investment fund and its unit holders Section - 115VA Computation of profits and gains from the business of operating qualifying ships Section - 115VB Operating ships Section - 115VC Qualifying company Section - 115VD Qualifying ship Section - 115VE Manner of computation of income under tonnage tax scheme Section - 115VF Tonnage income Section - 115VG Computation of tonnage income Section - 115VH Calculation in case of joint operation, etc Section - 115V-I Relevant shipping income Section - 115VJ Treatment of common costs Section - 115VK Depreciation Section - 115VL General exclusion of deduction and set off, etc Section - 115VM Exclusion of loss Section - 115VN Chargeable gains from transfer of tonnage tax assets Section - 115V-O Exclusion from provisions of section 115JB Section - 115VP Method and time of opting for tonnage tax scheme Section - 115VQ Period for which tonnage tax option to remain in force Section - 115VR Renewal of tonnage tax scheme Section - 115VS Prohibition to opt for tonnage tax scheme in certain cases Section - 115VT Transfer of profits to Tonnage Tax Reserve Account Section - 115VU Minimum training requirement for tonnage tax company Section - 115VV Limit for charter in of tonnage Section - 115VW Maintenance and audit of accounts Section - 115VX Determination of tonnage Section - 115VY Amalgamation Section - 115VZ Demerger Section - 115VZA Effect of temporarily ceasing to operate qualifying ships Section - 115VZB Avoidance of tax Section - 115VZC Exclusion from tonnage tax scheme Section - 115W Definitions Section - 115WA Charge of fringe benefit tax Section - 115WB Fringe benefits Section - 115WC Value of fringe benefits Section - 115WD Return of fringe benefits Section - 115WE Assessment Section - 115WF Best judgment assessment Section - 115WG Fringe benefits escaping assessment Section - 115WH Issue of notice where fringe benefits have escaped assessment Section - 115WI Payment of fringe benefit tax Section - 115WJ Advance tax in respect of fringe benefits Section - 115WK Interest for default in furnishing return of fringe benefits Section - 115WKA Recovery of fringe benefit tax by the employer from the employee Section - 115WKB Deemed payment of tax by employee Section - 115WL Application of other provisions of this Act Section - 115WM Chapter XII-H not to apply after a certain date Section - 116 Income-tax authorities Section - 117 Appointment of income-tax authorities Section - 118 Control of income-tax authorities Section - 119 Instructions to subordinate authorities Section - 120 Jurisdiction of income-tax authorities Section - 121 Jurisdiction of Commissioners Section - 121A Jurisdiction of Commissioners (Appeals Section - 122 Jurisdiction of Appellate Assistant Commissioners Section - 123 Jurisdiction of Inspecting Assistant Commissioners Section - 124 Jurisdiction of Assessing Officers Section - 125 Powers of Commissioner respecting specified areas, cases, persons, etc Section - 125A Concurrent jurisdiction of Inspecting Assistant Commissioner and Income-tax Officer Section - 126 Powers of Board respecting specified area, classes of persons or incomes Section - 127 Power to transfer cases Section - 128 Functions of Inspectors of Income-tax Section - 129 Change of incumbent of an office Section - 130 Commissioner competent to perform any function or functions Section - 130A Income-tax Officer competent to perform any function or functions Section - 131 Power regarding discovery, production of evidence, etc Section - 132 Search and seizure Section - 132A Powers to requisition books of account, etc Section - 132B Application of seized or requisitioned assets Section - 133 Power to call for information Section - 133A Power of survey Section - 133B Power to collect certain information Section - 133C Power to call for information by prescribed income-tax authority Section - 134 Power to inspect registers of companies Section - 135 Power of96[97[Principal Director General or] Director General or 97[Principal Director or] Director],98[99[Principal Chief Commissioner or] Chief Commissioner or 99[Principal Commissioner or] Commissioner] and 1[Joint Commissioner] Section - 136 Proceedings before income-tax authorities to be judicial proceedings Section - 137 Disclosure of information prohibited Section - 138 Disclosure of information respecting assessees Section - 139 Return of income Section - 139A Permanent account number Section - 139B Scheme for submission of returns through Tax Return Preparers Section - 139C Power of Board to dispense with furnishing documents, etc., with return Section - 139D Filing of return in electronic form Section - 140 Return by whom to be 33[verified Section - 140A Self-assessment Section - 141 Provisional assessment Section - 141A Provisional assessment for refund Section - 142 Inquiry before assessment Section - 142A Estimation of value of assets by Valuation Officer Section - 143 Assessment Section - 144 Best judgment assessment Section - 144A Power of45[Joint Commissioner] to issue directions in certain cases. Section - 144B Reference to Deputy Commissioner in certain cases Section - 144BA Reference to 54[Principal Commissioner or] Commissioner in certain cases. Section - 144C Reference to dispute resolution panel Section - 145 Method of accounting Section - 145A Method of accounting in certain cases Section - 146 Reopening of assessment at the instance of the assessee Section - 147 Income escaping assessment Section - 148 Issue of notice where income has escaped assessment Section - 149 Time limit for notice Section - 150 Provision for cases where assessment is in pursuance of an order on appeal, etc Section - 151 Sanction for issue of notice Section - 152 Other provisions Section - 153 Time limit for completion of assessments and reassessments Section - 153A Assessment in case of search or requisition Section - 153B Time-limit for completion of assessment under section 153A Section - 153C Assessment of income of any other person Section - 153D Prior approval necessary for assessment in cases of search or requisition Section - 154 Rectification of mistake Section - 155 Other amendments Section - 156 Notice of demand Section - 157 Intimation of loss Section - 158 Intimation of assessment of firm Section - 158A Procedure when assessee claims identical question of law is pending before High Court or Supreme Court Section - 158AA Procedure when in an appeal by revenue an identical question of law is pending before Supreme Court Section - 158B Definitions Section - 158BA Assessment of undisclosed income as a result of search Section - 158BB Computation of undisclosed income of the block period Section - 158BC Procedure for block assessment Section - 158BD Undisclosed income of any other person Section - 158BE Time limit for completion of block assessment Section - 158BF Certain interests and penalties not to be levied or imposed Section - 158BFA Levy of interest and penalty in certain cases Section - 158BG Authority competent to make the block assessment Section - 158BH Application of other provisions of this Act Section - 158BI Chapter not to apply after certain date Section - 159 Legal representatives Section - 160 Representative assessee Section - 161 Liability of representative assessee Section - 162 Right of representative assessee to recover tax paid Section - 163 Who may be regarded as agent Section - 164 Charge71 of tax where share of beneficiaries unknown Section - 164A Charge of tax in case of oral trust Section - 165 Case where part of trust income is chargeable Section - 166 Direct assessment or recovery not barred Section - 167 Remedies against property in cases of representative assessees Section - 167A Charge of tax in the case of a firm Section - 167B Charge of tax where shares of members in association of persons or body of individuals unknown, etc Section - 167C Liability of partners of limited liability partnership in liquidation Section - 168 Executors Section - 169 Right of executor to recover tax paid Section - 170 Succession to business otherwise than on death Section - 171 Assessment after partition of a Hindu undivided family Section - 172 Shipping business of non-residents Section - 173 Recovery of tax in respect of non-resident from his assets Section - 174 Assessment of persons leaving India Section - 174A Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose Section - 175 Assessment of persons likely to transfer property to avoid tax Section - 176 Discontinued business Section - 177 Association dissolved or business discontinued Section - 178 Company in liquidation
06 July 2015
Section - 179 Liability of directors of private company in liquidation Section - 180 Royalties or copyright fees for literary or artistic work Section - 180A Consideration for know-how Section - 181 Omitted by the Finance Act, 1988, w.e.f. 1-4-1989 Section - 182 Assessment of registered firms Section - 183 Assessment of unregistered firms Section - 184 Assessment as a firm Section - 185 Assessment when section 184 not complied with Section - 187 Change in constitution of a firm Section - 188 Succession of one firm by another firm Section - 188A Joint and several liability of partners for tax payable by firm Section - 189 Firm dissolved or business discontinued Section - 189A Provisions applicable to past assessments of firms Section - 190 Deduction at source and advance payment Section - 191 Direct payment Section - 192 Salary Section - 192A Payment of accumulated balance due to an employee Section - 193 Interest on securities Section - 194 Dividends Section - 194A Interest other than "Interest on securities" Section - 194B Winnings from lottery or crossword puzzle Section - 194BB Winnings from horse race Section - 194C Payments to contractors Section - 194D Insurance commission Section - 194DA Payment in respect of life insurance policy Section - 194E Payments to non-resident sportsmen or sports associations Section - 194EE Payments in respect of deposits under National Savings Scheme, etc. Section - 194F Payments on account of repurchase of units by Mutual Fund or Unit Trust of India Section - 194G Commission, etc., on the sale of lottery tickets Section - 194H Commission or brokerage Section - 194-I Rent Section - 194IA Payment on transfer of certain immovable property other than agricultural land Section - 194J Fees for professional or technical services Section - 194K Income in respect of units Section - 194L Payment of compensation on acquisition of capital asset Section - 194LA Payment of compensation on acquisition of certain immovable property Section - 194LB Income by way of interest from infrastructure debt fund Section - 194LBA Certain income from units of a business trust Section - 194LBB Income in respect of units of investment fund Section - 194LC Income by way of interest from Indian company Section - 194LD Income by way of interest on certain bonds and Government securities Section - 195 Other sums Section - 195A Income payable "net of tax" Section - 196 Interest or dividend or other sums payable to Government, Reserve Bank or certain corporations Section - 196A Income in respect of units of non-residents Section - 196B Income from units Section - 196C Income from foreign currency bonds or shares22 of Indian company Section - 196D Income of Foreign Institutional Investors from securities Section - 197 Certificate for deduction at lower rate Section - 197A No deduction to be made in certain cases Section - 198 Tax deducted is income received Section - 199 Credit for tax deducted Section - 200 Duty of person deducting tax Section - 200A Processing of statements of tax deducted at source Section - 201 Consequences of failure to deduct or pay Section - 202 Deduction only one mode of recovery Section - 203 Certificate for tax deducted Section - 203A Tax deduction and collection account number Section - 203AA Furnishing of statement of tax deducted Section - 204 Meaning of "person responsible for paying" Section - 205 Bar against direct demand on assessee Section - 206 Persons deducting tax to furnish prescribed returns Section - 206A Furnishing of quarterly* return in respect of payment of interest to residents without deduction of tax Section - 206AA Requirement to furnish Permanent Account Number Section - 206B Person paying dividend to certain residents without deduction of tax to furnish prescribed return Section - 206C Profits and gains from the business of trading in alcoholic liquor, forest produce, scrap, etc. Section - 206CA Tax collection account number Section - 206CB Processing of statements of tax collected at source Section - 207 Liability for payment of advance tax Section - 208 Conditions of liability to pay advance tax Section - 209 Computation of advance tax Section - 209A Computation and payment of advance tax by assessee Section - 210 Payment of advance tax by the assessee of his own accord or in pursuance of order of Assessing Officer Section - 211 Instalments of advance tax and due dates Section - 212 Estimate by assessee Section - 213 Commission receipts Section - 214 Interest payable by Government Section - 215 Interest payable by assessee Section - 216 Interest payable by assessee in case of under-estimate, etc Section - 217 Interest payable by assessee when no estimate made Section - 218 When assessee deemed to be in default Section - 219 Credit for advance tax Section - 220 When tax payable and when assessee deemed in default Section - 221 Penalty payable when tax in default Section - 222 Certificate to Tax Recovery Officer Section - 223 Tax Recovery Officer by whom recovery is to be effected Section - 224 Validity of certificate and cancellation or amendment thereof Section - 225 Stay of proceedings in pursuance of certificate and amendment or cancellation thereof Section - 226 Other modes of recovery Section - 227 Recovery through State Government Section - 228 Recovery of Indian tax in Pakistan and Pakistan tax in India Section - 228A Recovery of tax in pursuance of agreements with foreign countries Section - 229 Recovery of penalties, fine, interest and other sums Section - 230 Tax clearance certificate Section - 230A Restrictions on registration of transfers of immovable property in certain cases Section - 231 Period for commencing recovery proceedings Section - 232 Recovery by suit or under other law not affected Section - 233 Recovery of tax payable under provisional assessment Section - 234 Tax paid by deduction or advance payment Section - 234A Interest for defaults in furnishing return of income Section - 234B Interest for defaults in payment of advance tax Section - 234C Interest for deferment of advance tax Section - 234D Interest on excess refund Section - 234E Fee for default in furnishing statements Section - 235 Relief to shareholders in respect of agricultural income-tax attributable to dividends Section - 236 Relief to company in respect of dividend paid out of past taxed profits Section - 236A Relief to certain charitable institutions or funds in respect of certain dividends Section - 237 Refunds Section - 238 Person entitled to claim refund in certain special cases Section - 239 Form of claim for refund and limitation Section - 240 Refund on appeal, etc Section - 241 Power to withhold refund in certain cases Section - 242 Correctness of assessment not to be questioned Section - 243 Interest on delayed refunds Section - 244 Interest on refund where no claim is needed Section - 244A Interest on refunds Section - 245 Set off of refunds against tax remaining payable Section - 245A Definitions Section - 245B Income-tax Settlement Commission Section - 245BA Jurisdiction and powers of Settlement Commission Section - 245BB Vice-Chairman to act as Chairman or to discharge his functions in certain circumstances Section - 245BC Power of Chairman to transfer cases from one Bench to another Section - 245BD Decision to be by majority Section - 245C Application for settlement of cases Section - 245D Procedure on receipt of an application under section 245C Section - 245DD Power of Settlement Commission to order provisional attachment to protect revenue Section - 245E Power of Settlement Commission to reopen completed proceedings Section - 245F Powers and procedure of Settlement Commission Section - 245G Inspection, etc., of reports Section - 245H Power of Settlement Commission to grant immunity from prosecution and penalty Section - 245HA Abatement of proceeding before Settlement Commission Section - 245HAA Credit for tax paid in case of abatement of proceedings Section - 245I Order of settlement to be conclusive Section - 245J Recovery of sums due under order of settlement Section - 245K Bar on subsequent application for settlement Section - 245L Proceedings before Settlement Commission to be judicial proceedings Section - 245M Certain persons who have filed appeals to the Appellate Tribunal entitled to make applications to the Settlement Commission Section - 245N Definitions Section - 245O Authority for Advance Rulings Section - 245P Vacancies, etc., not to invalidate proceedings Section - 245Q Application for advance ruling Section - 245R Procedure on receipt of application Section - 245RR Appellate authority not to proceed in certain cases Section - 245S Applicability of advance ruling Section - 245T Advance ruling to be void in certain circumstances Section - 245U Powers of the Authority Section - 245V Procedure of Authority Section - 246 Appealable orders Section - 246A Appealable orders before Commissioner (Appeals) Section - 247 Appeal by partner Section - 248 Appeal by a person denying liability to deduct tax in certain cases Section - 249 Form of appeal and limitation Section - 250 Procedure in appeal. Section - 251 Powers of the 95a[* * *] 95b[Commissioner (Appeals)]. Section - 252 Appellate Tribunal. Section - 253 Appeals to the Appellate Tribunal. Section - 254 Orders of Appellate Tribunal Section - 255 Procedure of Appellate Tribunal Section - 256 Statement of case to the High Court Section - 257 Statement of case to Supreme Court in certain cases Section - 258 Power of High Court or Supreme Court to require statement to be amended Section - 259 Case before High Court to be heard by not less than two judges Section - 260 Decision of High Court or Supreme Court on the case stated Section - 260A Appeal to High Court Section - 260B Case before High Court to be heard by not less than two Judges Section - 261 Appeal to Supreme Court Section - 262 Hearing before Supreme Court Section - 263 Revision of orders prejudicial to revenue Section - 264 Revision of other orders Section - 265 Tax to be paid notwithstanding reference, etc Section - 266 Execution for costs awarded by Supreme Court Section - 267 Amendment of assessment on appeal Section - 268 Exclusion of time taken for copy29 Section - 268A Filing of appeal or application for reference by income-tax authority Section - 269 Definition of "High Court" Section - 269A Definitions Section - 269AB Registration of certain transactions Section - 269B Registration of certain transactions Section - 269C Immovable property in respect of which proceedings for acquisition may be taken Section - 269D Preliminary notice Section - 269E Objections Section - 269F Hearing of objections Section - 269G Appeal against order for acquisition Section - 269H Appeal to High Court Section - 269I Vesting of property in Central Government Section - 269J Compensation Section - 269K Payment or deposit of compensation Section - 269L Assistance by Valuation Officers Section - 269M Powers of competent authority Section - 269N Rectification of mistakes Section - 269O Appearance by authorised representative or registered valuer Section - 269P Statement to be furnished in respect of transfers of immovable property Section - 269Q Chapter not to apply to transfers to relatives Section - 269R Properties liable for acquisition under this Chapter not to be acquired under other laws Section - 269RR Chapter not to apply where transfer of immovable property made after a certain date Section - 269S Chapter not to extend to State of Jammu and Kashmir Section - 269SS Mode of taking or accepting certain loans, deposits and specified sum Section - 269T Mode of repayment of certain loans or deposits Section - 269TT Mode of repayment of Special Bearer Bonds, 1991 Section - 269U Commencement of Chapter Section - 269UA Definitions Section - 269UB Appropriate authority Section - 269UC Restrictions on transfer of immovable property Section - 269UD Order by appropriate authority for purchase by Central Government of immovable property Section - 269UE Vesting of property in Central Government Section - 269UF Consideration for purchase of immovable property by Central Government Section - 269UG Payment or deposit of consideration Section - 269UH Re-vesting of property in the transferor on failure of payment or deposit of consideration Section - 269UI Powers of the appropriate authority Section - 269UJ Rectification of mistakes Section - 269UK Restrictions on revocation or alteration of certain agreements for the transfer of immovable property or on transfer of certain immovable property Section - 269UL Restrictions on registration, etc., of documents in respect of transfer of immovable property Section - 269UM Immunity to transferor against claims of transferee for transfer Section - 269UN Order of appropriate authority to be final and conclusive Section - 269UO Chapter not to apply to certain transfers Section - 269UP Chapter not to apply where transfer of immovable property effected after certain date Section - 270 Failure to furnish information regarding securities, etc Section - 271 Failure to furnish returns, comply with notices, concealment of income, etc Section - 271A Failure to keep, maintain or retain books of account, documents, etc Section - 271AA Penalty for failure to keep and maintain information and document, etc., in respect of certain transactions Section - 271AAA Penalty where search has been initiated Section - 271AAB Penalty where search has been initiated Section - 271B Failure to get accounts audited Section - 271BA Penalty for failure to furnish report under section 92E Section - 271BB Failure to subscribe to the eligible issue of capital Section - 271C Penalty for failure to deduct tax at source Section - 271CA Penalty for failure to collect tax at source Section - 271D Penalty for failure to comply with the provisions of section 269SS Section - 271E Penalty for failure to comply with the provisions of section 269T Section - 271F Penalty for failure to furnish return of income Section - 271FA Penalty for failure to furnish 35[statement of financial transaction or reportable account Section - 271FAA Penalty for furnishing inaccurate statement of financial transaction or reportable account Section - 271FAB Penalty for failure to furnish statement or information or document by an eligible investment fund Section - 271FB Penalty for failure to furnish return of fringe benefits Section - 271G Penalty for failure to furnish information or document under section 92D Section - 271GA Penalty for failure to furnish information or document under section 285A Section - 271H Penalty for failure to furnish statements, etc Section - 271-I Penalty for failure to furnish information or furnishing inaccurate information under section 195 Section - 272 Failure to give notice of discontinuance Section - 272A Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc Section - 272AA Penalty for failure to comply with the provisions of section 133B Section - 272B Penalty for failure to comply with the provisions of section 139A Section - 272BB Penalty for failure to comply with the provisions of section 203A Section - 272BBB Penalty for failure to comply with the provisions of section 206CA Section - 273 False estimate of, or failure to pay, advance tax Section - 273A Power to reduce or waive penalty, etc., in certain cases Section - 273AA Power of 37[Principal Commissioner or] Commissioner to grant immunity from penalty Section - 273B Penalty not to be imposed in certain cases Section - 274 Procedure Section - 275 Bar of limitation for imposing penalties Section - 275A Contravention of order made under sub-section (3) of section 132 Section - 275B Failure to comply with the provisions of clause (iib) of sub-section (1) of section 132 Section - 276 Removal, concealment, transfer or delivery of property to thwart tax recovery Section - 276A Failure to comply with the provisions of sub-sections (1) and (3) of section 178 Section - 276AA Failure to comply with the provisions of section 269AB or section 269-I Section - 276AB Failure to comply with the provisions of sections 269UC, 269UE and 269UL Section - 276B Failure to pay tax to the credit of Central Government under Chapter XII-D or XVII-B Section - 276BB Failure to pay the tax collected at source Section - 276C Wilful attempt to evade tax, etc Section - 276CC Failure to furnish returns of income Section - 276CCC Failure to furnish return of income in search cases Section - 276D Failure to produce accounts and documents Section - 276DD Failure to comply with the provisions of section 269SS Section - 276E Failure to comply with the provisions of section 269T Section - 277 False statement in verification, etc Section - 277A Falsification of books of account or document, etc Section - 278 Abetment of false return, etc. Section - 278A Punishment for second and subsequent offences Section - 278AA Punishment not to be imposed in certain cases Section - 278AB Power of 20[Principal Commissioner or] Commissioner to grant immunity from prosecution. Section - 278B Offences by companies Section - 278C Offences by Hindu undivided families Section - 278D Presumption as to assets, books of account, etc., in certain cases Section - 278E Presumption as to culpable mental state Section - 279 Prosecution to be at instance of 27[28[Principal Chief Commissioner or] Chief Commissioner or 28[Principal Commissioner or] Commissioner] Section - 279A Certain offences to be non-cognizable Section - 279B Proof of entries in records or documents Section - 280 Disclosure of particulars by public servants Section - 280A Special Courts Section - 280B Offences triable by Special Court Section - 280C Trial of offences as summons case Section - 280D Application of Code of Criminal Procedure, 1973 to proceedings before Special Court Section - 280A TO 280X Omitted by the Finance Act, 1988, w.e.f. 1-4-1988. Section - 280Y Definitions Section - 280Z Tax credit certificates to certain equity shareholders Section - 280ZA Tax credit certificates for shifting of industrial undertaking from urban area Section - 280ZB Tax credit certificate to certain manufacturing companies in certain cases Section - 280ZC Tax credit certificate in relation to exports Section - 280ZD Tax credit certificates in relation to increased production of certain goods Section - 280ZE Tax credit certificate scheme Section - 281 Certain transfers to be void Section - 281A Effect of failure to furnish information in respect of properties held benami Section - 281B Provisional attachment to protect revenue in certain cases Section - 282 Service of notice generally Section - 282A Authentication of notices and other documents Section - 282B Allotment of Document Identification Number Section - 283 Service of notice when family is disrupted or firm, etc., is dissolved Section - 284 Service of notice in the case of discontinued business Section - 285 Submission of statement by a non-resident having liaison office Section - 285A Information by contractors in certain cases Section - 285B Submission of statements by producers of cinematograph films Section - 285BA Obligation to furnish statement of financial transaction or reportable account Section - 286 Information by companies respecting shareholders to whom dividends have been paid Section - 287 Publication of information respecting assessees in certain cases Section - 287A Appearance by registered valuer in certain matters Section - 288 Appearance by authorised representative Section - 288A Rounding off of income Section - 288B Rounding off amount payable and refund due Section - 289 Receipt to be given Section - 290 Indemnity Section - 291 Power to tender immunity from prosecution Section - 292 Cognizance of offences Section - 292A Section 360 of the Code of Criminal Procedure, 1973, and the Probation of Offenders Act, 1958, not to apply Section - 292B Return of income, etc., not to be invalid on certain grounds Section - 292BB Notice deemed to be valid in certain circumstances Section - 292C Presumption as to assets, books of account, etc Section - 292CC Authorisation and assessment in case of search or requisition Section - 293 Bar of suits in civil courts Section - 293A Power to make exemption, etc., in relation to participation in the business of prospecting for, extraction, etc., of mineral oils Section - 293B Power of Central Government or Board to condone delays in obtaining approval Section - 293C Power to withdraw approval Section - 294 Act to have effect pending legislative provision for charge of tax Section - 294A Power to make exemption, etc., in relation to certain Union territories Section - 295 Power to make rules Section - 296 Rules and certain notifications to be placed before Parliament Section - 297 Repeals and savings Section - 298 Power to remove difficulties First Schedule INSURANCE BUSINESS Second Schedule PROCEDURE FOR RECOVERY OF TAX Third Schedule PROCEDURE FOR DISTRAINT BY 35[ASSESSING OFFICER] 36[OR TAX RECOVERY OFFICER] Fourth Schedule RECOGNISED PROVIDENT FUNDS Fifth Schedule LIST OF ARTICLES AND THINGS Sixth Schedule [Omitted by the Finance Act, 1972, w.e.f. 1-4-1973 Seventh Schedule MINERALS Eighth Schedule LIST OF INDUSTRIALLY BACKWARD STATES AND UNION TERRITORIES Ninth Schedule [Omitted by the Taxation Laws (Amendment & Miscellaneous Provisions) Act, 1986, w.e.f. 1-4-1988 Tenth Schedule Omitted by the Finance Act, 1999, w.e.f. 1-4-2000 Eleventh Schedule LIST OF ARTICLES OR THINGS Twelfth Schedule PROCESSED MINERALS AND ORES Thirteenth Schedule LIST OF ARTICLES OR THINGS Fourteenth Schedule LIST OF ARTICLES OR THINGS OR OPERATIONS APPENDIX TEXT OF REMAINING PROVISIONS OF ALLIED ACTS REFERRED TO IN INCOME-TAX ACT
06 July 2015
sir my query wasnt this . i wanted to ask you how to read income tax act 1961...... i meant how is the act classified as sections and sub sections and proviso......how to read income tax act.....what is the hierarchal classification for ex. sections have sub sections which in turn have sub clauses .....i was seeking the reading schema of the income tax act 1961
CAclubindia
