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income tax sections

CA Vijay Jain (Chartered Accountant) (176 Points)

22 July 2010  

Hi

Can anyone provide me the list of all the income tax sections  with the heading in excel or any other format.

for example

45(1) - Basis of Charge , Capital Gain


 10 Replies

Harpreet (* * * * * *) (1660 Points)
Replied 22 July 2010

It is not an easy work to collect all section in single excel sheet. Y dont u purchase ready reckoner and income tax act.

DT Fundas - Tarun rustagi ( Author) (1135 Points)
Replied 22 July 2010

dear friend

u can purchase a cd of incom etax act.i think all the sections in excel sheet is impossible.

Kalpesh Chauhan, (Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com))   (8310 Points)
Replied 22 July 2010

CHAPTER – I  PRELIMINARY

  1

Short title, extent and commencement

  2

Definitions

  3

"Previous year" defined

 

 

CHAPTER – II  BASIS OF CHARGE

 

 

  4

Charge of income-tax

  5

Scope of total income

  5A

Apportionment of income between spouses governed by Portuguese Civil Code

  6

Residence in India

  7

Income deemed to be received

  8

Dividend income

  9

Income deemed to accrue or arise in India

 

 

CHAPTER – III INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME

 

 

  10

Incomes not included in total income

  10A

Special provision in respect of newly established undertakings in free trade zone, etc

  10AA

Special provisions in respect of newly established Units in Special Economic Zones

  10B

Special provisions in respect of newly established hundred per cent export-oriented undertakings

  10BA

Special provisions in respect of export of certain articles or things

  10BB

Meaning of computer programmes in certain cases

  10C

Special provision in respect of certain industrial undertakings in North-Eastern Region

  11

Income from property held for charitable or religious purposes

  12

Income of trusts or institutions from contributions

  12A

Conditions for applicability of sections 11 and 12

  12AA

Procedure for registration

  13

Section 11 not to apply in certain cases

  13A

Special provision relating to incomes of political parties

 

 

CHAPTER – IV COMPUTATION OF TOTAL INCOME

 

 

  14

Heads of income

  14A

Expenditure incurred in relation to income not includible in total income

 

 

A.      SALARIES

 

 

  15

Salaries

  16

Deductions from salaries

  17

“Salary”, “perquisite” and “profits in lieu of salary” defined

 

 

B.      INCOME FROM HOUSE PROPERTY

 

 

  22

Income from house property

  23

Annual value how determined

  24

Deductions from income from house property

  25

Amounts not deductible from income from house property

  25A

Special provision for cases where unrealised rent allowed as deduction is realised subsequently

  25AA

Unrealised rent received subsequently to be charged to income-tax

  25B

Special provision for arrears of rent received

  26

Property owned by co-owners

  27

“Owner of house property”, “annual charge”, etc., defined

 

 

C.      PROFITS AND GAINS FROM BUSINESS OR PROFESSION

 

 

  28

Profits and gains of business or profession

  29

Income from profits and gains of business or profession, how computed

  30

Rent, rates, taxes, repairs and insurance for buildings

  31

Repairs and insurance of machinery, plant and furniture

  32

Depreciation

  32A

Investment allowance

  32AB

Investment deposit account

  33

Development rebate

  33A

Development allowance

  33AB

Tea development account, coffee development account and rubber development account

  33ABA

Site Restoration Fund

  33AC

Reserves for shipping business

  33B

Rehabilitation allowance

  34

Conditions for depreciation allowance and development rebate

  34A

Restriction on unabsorbed depreciation and unabsorbed investment allowance for limited period in case of certain domestic companies

  35

Expenditure on scientific research

  35A

Expenditure on acquisition of patent rights or copyrights

  35AB

Expenditure on know-how

  35ABB

Expenditure for obtaining licence to operate telecommunication services

  35AC

Expenditure on eligible projects or schemes

 

 

 

 

 

 

  35CCA

Expenditure by way of payment to associations and institutions for carrying out rural development programmes

  35CCB

Expenditure by way of payment to associations and institutions for carrying out programmes of conservation of natural resources

  35D

Amortisation of certain preliminary expenses

  35DD

Amortisation of expenditure in case of amalgamation or demerger

  35DDA

Amortisation of expenditure incurred under voluntary retirement scheme

  35E

Deduction for expenditure on prospecting, etc., for certain minerals

  36

Other deductions

  37

General

  38

Building, etc., partly used for business, etc., or not exclusively so used

 

 

  40

Amounts not deductible

  40A

Expenses or payments not deductible in certain circumstances

  41

Profits chargeable to tax

  42

Special provision for deductions in the case of business for prospecting, etc., for mineral oil

  43

Definitions of certain terms relevant to income from profits and gains of business or profession

  43A

Special provisions consequential to changes in rate of exchange of currency

  43B

Certain deductions to be only on actual payment

  43C

Special provision for computation of cost of acquisition of certain assets

  43D

Special provision in case of income of public financial institutions, public companies, etc.

  44

Insurance business

  44A

Special provision for deduction in the case of trade, professional or similar association

  44AA

Maintenance of accounts by certain persons carrying on profession or business

  44AB

Audit of accounts of certain persons carrying on business or profession

 

 

  44AD

Special provision for computing profits and gains of business of civil construction, etc.

  44AE

Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages

  44AF

Special provisions for computing profits and gains of retail business

  44B

Special provision for computing profits and gains of shipping business in the case of non-residents

  44BB

Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils

  44BBA

Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents

  44BBB

Special provision for computing profits and gains of foreign companies, engaged in the business of civil construction, etc., in certain turnkey power projects

  44C

Deduction of head office expenditure in the case of non-residents

  44D

Special provisions for computing income by way of royalties, etc., in the case of foreign companies

  44DA

Special provision for computing income by way of royalties, etc., in case of non-residents

  44DB

Special provision for computing deductions in the case of business reorganization of co-operative banks

 

 

D.      CAPITAL GAINS

 

 

  45

Capital gains

  46

Capital gains on distribution of assets by companies in liquidation

  46A

Capital gains on purchase by company of its own shares or other specified securities

  47

Transactions not regarded as transfer

  47A

Withdrawal of exemption in certain cases

  48

Mode of computation

  49

Cost with reference to certain modes of acquisition

  50

Special provision for computation of capital gains in case of depreciable assets

  50A

Special provision for cost of acquisition in case of depreciable asset

  50B

Special provision for computation of capital gains in case of slump sale

  50C

Special provision for full value of consideration in certain cases

  51

Advance money received

  54

Profit on sale of property used for residence

  54B

Capital gain on transfer of land used for agricultural purposes not to be charged in certain cases

  54D

Capital gain on compulsory acquisition of lands and buildings not to be charged in certain cases

  54E

Capital gain on transfer of capital assets not to be charged in certain cases

  54EA

Capital gain on transfer of long-term capital assets not to be charged in the case of investment in specified securities

  54EB

Capital gain on transfer of long-term capital assets not to be charged in certain cases

  54EC

Capital gain not to be charged on investment in certain bonds

  54ED

Capital gain on transfer of certain listed securities or unit, not to be charged in certain cases

  54F

Capital gain on transfer of certain capital assets not to be charged in case of investment in residential house

  54G

Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area

  54GA

Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone

  54H

Extension of time for acquiring new asset or depositing or investing amount of capital gain

  55

Meaning of “adjusted”, “cost of improvement” and “cost of acquisition”

  55A

Reference to Valuation Officer

 

 

E.      INCOME FROM OTHER SOURCES

 

 

  56

Income from other sources

  57

Deductions

  58

Amounts not deductible

  59

Profits chargeable to tax

 

 

CHAPTER – V INCOME OF OTHER PERSONS INCLUDED IN ASSESSEES TOTAL INCOME

 

 

  60

Transfer of income where there is no transfer of assets

  61

Revocable transfer of assets

  62

Transfer irrevocable for a specified period

  63

“Transfer” and “revocable transfer” defined

  64

Income of individual to include income of spouse, minor child, etc.

  65

Liability of person in respect of income included in the income of another person

 

 

CHAPTER – VI AGGREGATION OF INCOME AND SET OFF OR CARRY FORWARD OF LOSS

 

 

A.      AGGREGATION OF INCOME

 

 

  66

Total income

  67A

Method of computing a member’s share in income of association of persons or body of individuals

  68

Cash credits

  69

Unexplained investments

  69A

Unexplained money, etc.

  69B

Amount of investments, etc., not fully disclosed in books of account

  69C

Unexplained expenditure, etc.

  69D

Amount borrowed or repaid on hundi

 

 

B.      SET OFF CARRY FORWARD AND SET OFF

 

 

  70

Set off of loss from one source against income from another source under the same head of income

  71

Set off of loss from one head against income from another

  71A

Transitional provisions for set off of loss under the head “Income from house property”

  71B

Carry forward and set off of loss from house property

  72

Carry forward and set off of business losses

  72A

Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in amalgamation or demerger, etc.

  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

  72AB

Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in business reorganisation of co-operative banks

  73

Losses in speculation business

  74

Losses under the head “Capital gains”

  74A

Losses from certain specified sources falling under the head "income from other sources"

  75

Losses of firms

  78

Carry forward and set off of losses in case of change in constitution of firm or on succession

  79

Carry forward and set off of losses in the case of certain companies

  80

Submission of return for losses

 

 

CHAPTER – VI A DEDUCTIONS TO BE MADE IN COMPUTING TOTAL INCOME

 

 

A.      GENERAL

  80A

Deductions to be made in computing total income

  80AB

Deductions to be made with reference to the income included in the gross total income

  80AC

Deduction not to be allowed unless return furnished

  80B

Definitions

B.      DEDUCTIONS IN RESPECT OF CERTAIN PAYMENTS

  80C

Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscriptttion to certain equity shares or debentures, etc.

  80CCA

Deduction in respect of deposits under National Savings Scheme or payment to a deferred annuity plan

  80CCB

Deduction in respect of investment made under Equity Linked Savings Scheme

  80CCC

Deduction in respect of contribution to certain pension funds

  80CCD

Deduction in respect of contribution to pension scheme of Central Government

  80CCE

Limit on deductions under sections 80C, 80CCC and 80CCD

  80D

Deduction in respect of medical insurance premia

  80DD

Deduction in respect of maintenance including medical treatment of a dependent who is a person with disability

  80DDB

Deduction in respect of medical treatment, etc.

  80E

Deduction in respect of interest on loan taken for higher education

  80G

Deduction in respect of donations to certain funds, charitable institutions, etc.

  80GG

Deductions in respect of rents paid

  80GGA

Deduction in respect of certain donations for scientific research or rural development

  80GGB

Deduction in respect of contributions given by companies to political parties

  80GGC

Deductions in respect of contributions given by any person to political parties

C.      DEDUCTIONS IN RESPECT OF CERTAIN INCOMES

  80HH

Deduction in respect of profits and gains from newly established industrial undertakings or hotel business in backward areas

  80HHA

Deduction in respect of profits and gains from newly established small-scale industrial undertakings in certain areas

  80HHB

Deduction in respect of profits and gains from projects outside India

  80HHBA

Deduction in respect of profits and gains from housing projects in certain cases

  80HHC

Deduction in respect of profits retained for export business

  80HHD

Deduction in respect of earnings in convertible foreign exchange

  80HHE

Deduction in respect of profits from export of computer software, etc.

  80HHF

Deduction in respect of profits and gains from export or transfer of film software, etc.

  80I

Deduction in respect of profits and gains from industrial undertakings after a certain date, etc.

  80IA

Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc.

  80IAB

Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone

  80IB

Deduction in respect of profits and gains from certain industrial undertakings other than infrastructure development undertakings

  80IC

Special provisions in respect of certain undertakings or enterprises in certain special category States

  80ID

Deduction in respect of profits and gains from business of hotels and convention centres in specified area

  80IE

Special provisions in respect of certain undertakings in North-Eastern States

  80JJA

Deduction in respect of profits and gains from business of collecting and processing of bio-degradable waste

  80JJAA

Deduction in respect of employment of new workmen

  80LA

Deduction in respect of certain incomes of Offshore Banking Units and International Financial Services Centre

  80O

Deduction in respect of royalties, etc., from certain foreign enterprises

  80P

Deduction in respect of income of co-operative societies

  80Q

Deduction in respect of profits and gains from the business of publication of books

  80QQA

Deduction in respect of professional income of authors of text books in Indian languages

  80QQB

Deduction in respect of royalty income, etc., of authors of certain books other than text books

  80R

Deduction in respect of remuneration from certain foreign sources in the case of professors, teachers, etc.

  80RR

Deduction in respect of professional income from foreign sources in certain cases

  80RRA

Deduction in respect of remuneration received for services rendered outside India

  80RRB

Deduction in respect of royalty on Patents

D.      OTHERS

  80U

Deduction in case of a person with disability

 

 

CHAPTER – VII INCOMES FORMING PART OF TOTAL INCOME ON WHICH NO INCOME TAX IS PAYABLE

 

 

  86

Share of member of an association of persons or body of individuals in the income of the association or body

 

 

CHAPTER – VIII REBATES AND RELIEF

 

 

A.      REBATE OF INCOME TAX

  87

Rebate to be allowed in computing income-tax

  88

Rebate on life insurance premia, contribution to provident fund, etc.

  88E

Rebate in respect of securities transaction tax

B.      RELIEF OF INCOME TAX

  89

Relief when salary, etc., is paid in arrears or in advance

 

 

CHAPTER – IX DOUBLE TAXATION RELIEF

 

 

  90

Agreement with foreign countries

  90A

Adoption by Central Government of agreements between specified associations for double taxation relief

  91

Countries with which no agreement exists

 

 

CHAPTER – X SPECIAL PROVISIONS RELATING TO AVOIDANCE OF TAX

 

 

  92

Computation of income from international transaction having regard to arm’s length price

  92A

Meaning of associated enterprise

  92B

Meaning of international transaction

  92C

Computation of arm’s length price

  92CA

Reference to Transfer Pricing Officer

  92D

Maintenance and keeping of information and document by persons entering into an international transaction

  92E

Report from an accountant to be furnished by persons entering into international transaction

  92F

Definitions of certain terms relevant to computation of arm’s length price, etc

  93

Avoidance of income-tax by transactions resulting in transfer of income to non-residents

  94

Avoidance of tax by certain transactions in securities

 

 

CHAPTER – XII DETERMINATION OF TAX IN CERTAIN SPECIAL CASES

 

 

  110

Determination of tax where total income includes income on which no tax is payable

  111

Tax on accumulated balance of recognised provident fund

  111A

Tax on short-term capital gains in certain cases

  112

Tax on long-term capital gains

 

 

  113

Tax in the case of block assessment of search cases

 

 

 

 

  115A

Tax on dividends, royalty and technical service fees in the case of foreign companies

  115AB

Tax on income from units purchased in foreign currency or capital gains arising from their transfer

  115AC

Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer

  115ACA

Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer

  115AD

Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer

  115B

Tax on profits and gains of life insurance business

  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

  115BBA

Tax on non-resident sportsmen or sports associations

  115BBB

Tax on income from units of an open-ended equity oriented fund of the unit Trust of India or of Mutual Funds

  115BBC

Anonymous donations to be taxed in certain cases

 

 

CHAPTER – XII-A SPECIAL PROVISIONS RELATING TO CERTAIN INCOMES OF NON RESIDENTS

 

 

  115C

Definitions

  115D

Special provision for computation of total income of non-residents

  115E

Tax on investment income and long-term capital gains

  115F

Capital gains on transfer of foreign exchange assets not to be charged in certain cases

  115G

Return of income not to be filed in certain cases

  115H

Benefit under Chapter to be available in certain cases even after the assessee becomes resident

  115I

Chapter not to apply if the assessee so chooses

 

 

CHAPTER – XII-B SPECIAL PROVISIONS RELATING TO CERTAIN COMPANIES

 

 

  115J

Special provisions relating to certain companies

  115JA

Deemed income relating to certain companies

  115JAA

Tax credit in respect of tax paid on deemed income relating to certain companies

  115JB

Special provision for payment of tax by certain companies

 

 

CHAPTER – XII-D SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED PROFITS OF DOMESTIC COMPANIES

 

 

  115O

Tax on distributed profits of domestic companies

  115P

Interest payable for non-payment of tax by domestic companies

  115Q

When company is deemed to be in default

 

 

CHAPTER – XII-E SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME

 

 

  115R

Tax on distributed income to unit holders

  115S

Interest payable for non-payment of tax

  115T

Unit Trust of India or mutual fund to be an assessee in default

 

 

CHAPTER – XII-F SPECIAL PROVISIONS RELATING TO TAX ON INCOME RECEIVED FROM VENTURE CAPITAL COMPANIES AND VENTUIRE CAPITAL FUNDS

 

 

  115U

Tax on income in certain cases

 

 

CHAPTER – XII-G SPECIAL PROVISIONS RELATING TO INCOME OF SHIPPING COMPANIES

 

 

A.      MEANING OF CERTAIN EXPRESSIONS

  115V

Definitions

B.      COMPUTATION OF TONNAGE INCOME FROM BUSINESS OF OPERATING QUALIFYING SHIPS

  115VA

Computation of profits and gains from the business of operating qualifying ships

  115VB

Operating ships

  115VC

Qualifying company

  115VD

Qualifying ship

  115VE

Manner of computation of income under tonnage tax scheme

  115VF

Tonnage income

  115VG

Computation of tonnage income

  115VH

Calculation in case of joint operation, etc.

  115VI

Relevant shipping income

  115VJ

Treatment of common costs

  115VK

Depreciation

  115VL

General exclusion of deduction and set off, etc.

  115VM

Exclusion of loss

  115VN

Chargeable gains from transfer of tonnage tax assets

  115VO

Exclusion from provisions of section 115JB

C.      PROCEDURE FOR OPTION OF TONNAGE TAX SCHEME

  115VP

Method and time of opting for tonnage tax scheme

  115VQ

Period for which tonnage tax option to remain in force

  115VR

Renewal of tonnage tax scheme

  115VS

Prohibition to opt for tonnage tax scheme in certain cases

D.      CONDITIONS FOR APPLICABILITY OF TONNAGE TAX SCHEME

  115VT

Transfer of profits to Tonnage Tax Reserve Account

  115VU

Minimum training requirement for tonnage tax company

  115VV

Limit for charter in of tonnage

  115VW

Maintenance and audit of accounts

  115VX

Determination of tonnage

E.      AMALGAMATION AND DEMERGER OF SHIPPING COMPANIES

  115VY

Amalgamation

  115VZ

Demerger

F.      MISCELLENEOUS

  115VZA

Effect of temporarily ceasing to operate qualifying ships

G.     PROVISIONS OF THIS CHAPTER NOT TO APPLY IN CERTAIN CASES

  115VZB

Avoidance of tax

  115VZC

Exclusion from tonnage tax scheme

 

 

CHAPTER – XII-H INCOME TAX ON FRINGE BENEFITS

 

 

A.      MEANING OF CERTAIN EXPRESSIONS

  115W

Definitions

B.      BASIS OF CHARGE

  115WA

Charge of fringe benefit tax

  115WB

Fringe benefits

  115WC

Value of fringe benefits

C.      PROCEDURE FOR FILING OF RETURN IN RESPECT OF FRINGE BENEFITS ASSESSMENT AND PAYMEBNT OF TAX IN RESPECT THEREOF

  115WD

Return of fringe benefits

  115WE

Assessment

  115WF

Best judgment assessment

  115WG

Fringe benefits escaping assessment

  115WH

Issue of notice where fringe benefits have escaped assessment

  115WI

Payment of fringe benefit tax

  115WJ

Advance tax in respect of fringe benefits

  115WK

Interest for default in furnishing return of fringe benefits

  115WKA

Recovery of fringe benefit tax by the employer from the employee

  115WL

Application of other provisions of this Act

 

 

CHAPTER – XIII  INCOME TAX AUTHORITIES

 

 

A.      APPOINTMENT AND CONTROL

  116

Income-tax authorities

  117

Appointment of income-tax authorities

  118

Control of income-tax authorities

  119

Instructions to subordinate authorities

B.      JURISDICTION

  120

Jurisdiction of income-tax authorities

  124

Jurisdiction of Assessing Officers

  127

Power to transfer cases

  129

Change of incumbent of an office

C.      POWERS

  131

Power regarding discovery, production of evidence, etc.

  132

Search and seizure

  132A

Powers to requisition books of account, etc.

  132B

Application of seized or requisitioned assets

  133

Power to call for information

  133A

Power of survey

  133B

Power to collect certain information

  134

Power to inspect registers of companies

  135

Power of Director General or Director, Chief Commissioner or Commissioner and Joint Commissioner

  136

Proceedings before income-tax authorities to be judicial proceedings

D.      DISCLOSURE OF INFORMATION

  138

Disclosure of information respecting assessees

 

 

CHAPTER – XIV PROCEDURE FOR ASESESSMENT

 

 

  139

Return of income

  139A

Permanent account number

  139B

Scheme for submission of returns through Tax Return Preparers

  139C

Power of Board to dispense with furnishing documents, etc., with the return

  139D

Filing of return in electronic form

  140

Return by whom to be signed

  140A

Self-assessment

  142

Inquiry before assessment

  142A

Estimate by Valuation Officer in certain cases

  143

Assessment

  144

Best judgment assessment

  144A

Power of Joint Commissioner to issue directions in certain cases

  145

Method of accounting

  145A

Method of accounting in certain cases

  147

Income escaping assessment

  148

Issue of notice where income has escaped assessment

  149

Time limit for notice

  150

Provision for cases where assessment is in pursuance of an order on appeal, etc.

  151

Sanction for issue of notice

  152

Other provisions

  153

Time limit for completion of assessments and reassessments

  153A

Assessment in case of search or requisition

  153B

Time limit for completion of assessment under section 153A

  153C

Assessment of income of any other person

  153D

Prior approval necessary for assessment in cases of search or requisition

  154

Rectification of mistake

  155

Other amendments

  156

Notice of demand

  157

Intimation of loss

  158

Intimation of assessment of firm

 

 

CHAPTER - XIV-A SPECIAL PROVISIONS FOR AVOIDING REPETITIVE APPEALS

 

 

  158A

Procedure when assessee claims identical question of law is pending before High Court or Supreme Court

 

 

CHAPTER – XIV-B SPECIAL PROVISIONS FOR ASSESSMENT OF SEARCH CASES

 

 

  158B

Definitions

  158BA

Assessment of undisclosed income as a result of search

  158BB

Computation of undisclosed income of the block period

  158BC

Procedure for block assessment

  158BD

Undisclosed income of any other person

  158BE

Time limit for completion of block assessment

  158BF

Certain interests and penalties not to be levied or imposed

  158BFA

Levy of interest and penalty in certain cases

  158BG

Authority competent to make the block assessment

  158BH

Application of other provisions of this Act

  158BI

Chapter not to apply after certain date

 

 

CHAPTER – XV LIABILITY IN SPECIAL CASES

A.      LEGAL REPRESENTATIVES

  159

Legal representatives

B.      REPRESENTATIVE ASSESEES- GENERAL PROVISIONS

  160

Representative assessee

  161

Liability of representative assessee

  162

Right of representative assessee to recover tax paid

C.      REPRESENTATIVE ASSESSEES- SPECIAL CASES

  163

Who may be regarded as agent

  164

Charge of tax where share of beneficiaries unknown

  164A

Charge of tax in case of oral trust

  165

Case where part of trust income is chargeable

D.      REPRESENTATIVE ASSESSEES-MISCELLENEOUS PROVISIONS

  166

Direct assessment or recovery not barred

  167

Remedies against property in cases of representative assessees

DD.  FIRMS AOP AND BOI

  167A

Charge of tax in the case of a firm

  167B

Charge of tax where shares of members in association of persons or body of individuals unknown, etc.

E.      EXECUTORS

  168

Executors

  169

Right of executor to recover tax paid

F.      SUCCESSION OF BUSINESS OR PROFESSION

  170

Succession to business otherwise than on death

G.     PARTITION

  171

Assessment after partition of a Hindu undivided family

H.      PROFITS OF NON RESIDENTS FROM OCCASSIONAL SHIPPING BUSINESS

  172

Shipping business of non-residents

I.        RECOVERY OF TAX IN RESPECT OF NON RESIDENTS

  173

Recovery of tax in respect of non-resident from his assets

J.       PERSONS LEAVING INDIA

  174

Assessment of persons leaving India

JA. AOP BOI OR ARTIFICIAL JURIDICAL PERSONS FORMED FOR A PARTICULAR EVENT OR PURPOSE

  174A

Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose

K.      PERSONS TRYING TO ALIENATE THEIR ASSETS

  175

Assessment of persons likely to transfer property to avoid tax

L.      DISCONTINUANCE OF BUSINESS OR DISSOLUTION

  176

Discontinued business

  177

Association dissolved or business discontinued

  178

Company in liquidation

M.     PRIVATE COMPANIES

  179

Liability of directors of private company in liquidation

N.      SPECIAL PROVISIONS FOR CERTAIN KIND OF INCOMES

  180

Royalties or copyright fees for literary or artistic work

  180A

Consideration for know-how

 

 

CHAPTER – XVI SPECIAL PROVISIONS APPLICABLE TO FIRMS

 

 

A.      ASSESSMENT OF FIRMS

  184

Assessment as a firm

  185

Assessment when section 184 not complied with

B.      CHANGES IN CONSTITUTION, SUCCESSION AND DISSOLUTION

  187

Change in constitution of a firm

  188

Succession of one firm by another firm

  188A

Joint and several liability of partners for tax payable by firm

  189

Firm dissolved or business discontinued

  189A

Provisions applicable to past assessments of firms

 

 

CHAPTER XVII COLLECTION AND RECOVERY OF TAX

 

 

A.      GENERAL

  190

Deduction at source and advance payment

  191

Direct payment

B.      DEDUCTION AT SOURCE

  192

Salary

  193

Interest on securities

  194

Dividends

  194A

Interest other than “Interest on securities”

  194B

Winnings from lottery or crossword puzzle

  194BB

Winnings from horse race

  194C

Payments to contractors and sub-contractors

  194D

Insurance commission

  194E

Payments to non-resident sportsmen or sports associations

  194EE

Payments in respect of deposits under National Savings Scheme, etc.

  194F

Payments on account of repurchase of units by Mutual Fund or Unit Trust of India

  194G

Commission, etc., on the sale of lottery tickets

  194H

Commission or brokerage

  194I

Rent

  194J

Fees for professional or technical services

  194K

Income in respect of units

  194L

Payment of compensation on acquisition of capital asset

  194LA

Payment of compensation on acquisition of certain immovable property

  195

Other sums

  195A

Income payable “net of tax”

  196

Interest or dividend or other sums payable to Government, Reserve Bank or certain corporations

  196A

Income in respect of units of non-residents

  196B

Income from units

  196C

Income from foreign currency bonds or shares of Indian company

  196D

Income of Foreign Institutional Investors from securities

  197

Certificate for deduction at lower rate

  197A

No deduction to be made in certain cases

  198

Tax deducted is income received

  199

Credit for tax deducted

  200

Duty of person deducting tax

  201

Consequences of failure to deduct or pay

  202

Deduction only one mode of recovery

  203

Certificate for tax deducted

  203A

Tax deduction and collection account number

  203AA

Furnishing of statement of tax deducted

  204

Meaning of “person responsible for paying”

  205

Bar against direct demand on assessee

  206

Persons deducting tax to furnish prescribed returns

  206A

Furnishing of quarterly return in respect of payment of interest to residents without deduction of tax

 

 

BB. COLLECTION AT SOURCE

  206C

Profits and gains from the business of trading in alcoholic liquor, forest produce, scrap, etc.

  206CA

Tax collection account number

C.      ADVANCE PAYMENT OF TAX

  207

Liability for payment of advance tax

  208

Conditions of liability to pay advance tax

  209

Computation of advance tax

  210

Payment of advance tax by the assessee of his own accord or in pursuance of order of Assessing Officer

  211

Instalments of advance tax and due dates

  214

Interest payable by Government

  215

Interest payable by assessee

  216

Interest payable by assessee in case of underestimate, etc.

  217

Interest payable by assessee when no estimate made

  218

When assessee deemed to be in default

  219

Credit for advance tax

D.      COLLECTION AND RECOVERY

  220

When tax payable and when assessee deemed in default

  221

Penalty payable when tax in default

  222

Certificate to Tax Recovery Officer

  223

Tax Recovery Officer by whom recovery is to be effected

  224

Validity of certificate and cancellation or amendment thereof

  225

Stay of proceedings in pursuance of certificate and amendment or cancellation thereof

  226

Other modes of recovery

  227

Recovery through State Government

  228A

Recovery of tax in pursuance of agreements with foreign countries

  229

Recovery of penalties, fine, interest and other sums

  230

Tax clearance certificate

  232

Recovery by suit or under other law not affected

E.      OMITTED

F.      INTEREST CHARGEABLE IN CERTAIN CASES

  234A

Interest for defaults in furnishing return of income

  234B

Interest for defaults in payment of advance tax

  234C

Interest for deferment of advance tax

  234D

Interest on excess refund

 

 

CHAPTER – XVIII RELIEF RESPECTING TAX ON DIVIDENDS IN CERTAIN CASES

 

 

  236

Relief to company in respect of dividend paid out of past taxed profits

  236A

Relief to certain charitable institutions or funds in respect of certain dividends

 

 

CHAPTER – XIX REFUNDS

 

 

  237

Refunds

  238

Person entitled to claim refund in certain special cases

  239

Form of claim for refund and limitation

  240

Refund on appeal, etc.

  242

Correctness of assessment not to be questioned

  243

Interest on delayed refunds

  244

Interest on refund where no claim is needed

  244A

Interest on refunds

  245

Set off of refunds against tax remaining payable

 

 

CHAPTER – XIXA SETTLEMENT OF CASES

 

 

  245A

Definitions

  245B

Income-tax Settlement Commission

  245BA

Jurisdiction and powers of Settlement Commission

  245BB

Vice-Chairman to act as Chairman or to discharge his functions in certain circumstances

  245BC

Power of Chairman to transfer cases from one Bench to another

  245BD

Decision to be by majority

  245C

Application for settlement of cases

  245D

Procedure on receipt of an application under section 245C

  245DD

Power of Settlement Commission to order provisional attachment to protect revenue

  245E

Power of Settlement Commission to reopen completed proceedings

  245F

Powers and procedure of Settlement Commission

  245G

Inspection, etc., of reports

  245H

Power of Settlement Commission to grant immunity from prosecution and penalty

  245HA

Abatement of proceeding before Settlement Commission

  245HAA

Credit for tax paid in case of abatement of proceedings

  245I

Order of settlement to be conclusive

  245J

Recovery of sums due under order of settlement

  245K

Bar on subsequent application for settlement

  245L

Proceedings before Settlement Commission to be judicial proceedings

 

 

CHAPTER – XIX-B ADVANCE RULINGS

 

 

  245N

Definitions

  245O

Authority for advance rulings

  245P

Vacancies, etc., not to invalidate proceedings

  245Q

Application for advance ruling

  245R

Procedure on receipt of application

  245RR

Appellate authority not to proceed in certain cases

  245S

Applicability of advance ruling

  245T

Advance ruling to be void in certain circumstances

  245U

Powers of the Authority

  245V

Procedure of Authority

 

 

CHAPTER XX APPEALS AND REVISION

 

 

A.      APPEALS TO DEPUTY COMMISSIONER/COMMISSIONER [APPEALS]

  246

Appealable orders

  246A

Appealable orders before Commissioner (Appeals)

  248

Appeal by person denying liability to deduct tax in certain cases

  249

Form of appeal and limitation

  250

Procedure in appeal

  251

Powers of the Commissioner (Appeals)

B.      APPEALS TO APPELATE TRIBUNAL

  252

Appellate Tribunal

  253

Appeals to the Appellate Tribunal

  254

Orders of Appellate Tribunal

  255

Procedure of Appellate Tribunal

  257

Statement of case to Supreme Court in certain cases

  260

Effect to the decisions of Supreme Court and of the National Tax Tribunal

C.       APPEALS TO HIGH COURT

  260A

Appeal to High Court

  260B

Case before High Court to be heard by not less than two Judges

D.      APPELS TO SUPREME COURT

  261

Appeal to Supreme Court

  262

Hearing before Supreme Court

E.      REVISION BY COMMISSIONER

  263

Revision of orders prejudicial to revenue

  264

Revision of other orders

F.      GENERAL

  265

Tax to be paid notwithstanding reference, etc.

  266

Execution for costs awarded by Supreme Court

  267

Amendment of assessment on appeal

  268

Exclusion of time taken for copy

  269

Definition of “High Court”

 

 

CHAPTER – XX-A ACQUISITION OF IMMOVABLE PROPERTIES IN CERTAIN CASES OF TRANSFER TO COUNTERACT EVASION OF TAX

 

 

  269A

Definitions

  269AB

Registration of certain transactions

  269B

Competent authority

  269C

Immovable property in respect of which proceedings for acquisition may be taken

  269D

Preliminary notice

  269E

Objections

  269F

Hearing of objections

  269G

Appeal against order for acquisition

  269H

Appeal to High Court

  269I

Vesting of property in Central Government

  269J

Compensation

  269K

Payment or deposit of compensation

  269L

Assistance by Valuation Officers

  269M

Powers of competent authority

  269N

Rectification of mistakes

  269O

Appearance by authorised representative or registered valuer

  269P

Statement to be furnished in respect of transfers of immovable property

  269Q

Chapter not to apply to transfers to relatives

  269R

Properties liable for acquisition under this Chapter not to be acquired under other laws

  269RR

Chapter not to apply where transfer of immovable property made after a certain date

  269S

Chapter not to extend to State of Jammu and Kashmir

 

 

CHAPTER XX-B REQUIREMENT AS TO MODE OF ACCEPTANCE PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX

 

 

  269SS

Mode of taking or accepting certain loans and deposits

  269T

Mode of repayment of certain loans or deposits

  269TT

Mode of repayment of Special Bearer Bonds, 1991

 

 

CHAPTER XXI PENALTIES IMPOSABLE

 

 

  269U

Commencement of Chapter

  269UA

Definitions

  269UB

Appropriate authority

  269UC

Restrictions on transfer of immovable property

  269UD

Order by appropriate authority for purchase by Central Government of immovable property

  269UE

Vesting of property in Central Government

  269UF

Consideration for purchase of immovable property by Central Government

  269UG

Payment or deposit of consideration

  269UH

Re-vesting of property in the transferor on failure of payment or deposit of consideration

  269UI

Powers of the appropriate authority

  269UJ

Rectification of mistakes

  269UK

Restrictions on revocation or alteration of certain agreements for the transfer of immovable property or on transfer of certain immovable property

  269UL

Restrictions on registration, etc., of documents in respect of transfer of immovable property

  269UM

Immunity to transferor against claims of transferee for transfer

  269UN

Order of appropriate authority to be final and conclusive

  269UO

Chapter not to apply to certain transfers

  269UP

Chapter not to apply where transfer of immovable property effected after certain date

  271

Failure to furnish returns, comply with notices, concealment of income, etc.

  271A

Failure to keep, maintain or retain books of account, documents, etc.

  271AA

Penalty for failure to keep and maintain information and document in respect of international transaction

  271AAA

Penalty where search has been initiated

  271B

Failure to get accounts audited

  271BA

Penalty for failure to furnish report under section 92E

  271BB

Failure to subscribe to the eligible issue of capital

  271C

Penalty for failure to deduct tax at source

  271CA

Penalty for failure to collect tax at source

  271D

Penalty for failure to comply with the provisions of section 269SS

  271E

Penalty for failure to comply with the provisions of section 269T

  271F

Penalty for failure to furnish return of income

  271FA

Penalty for failure to furnish annual information return

  271FB

Penalty for failure to furnish return of fringe benefits

  271G

Penalty for failure to furnish information or document under section 92D

  272A

Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc.

  272AA

Penalty for failure to comply with the provisions of section 133B

  272B

Penalty for failure to comply with the provisions of section 139A

  272BB

Penalty for failure to comply with the provisions of section 203A

  272BBB

Penalty for failure to comply with the provisions of section 206CA

  273

False estimate of, or failure to pay, advance tax

  273A

Power to reduce or waive penalty, etc., in certain cases

  273B

Penalty not to be imposed in certain cases

  274

Procedure

  275

Bar of limitation for imposing penalties

 

 

CHAPTER XXII OFFENCES AND PROSECUTION

 

 

  275A

Contravention of order made under sub-section (3) of section 132

  275B

Failure to comply with the provisions of clause (iib) of sub-section (1) of section 132

  276

Removal, concealment, transfer or delivery of property to thwart tax recovery

  276A

Failure to comply with the provisions of sub-sections (1) and (3) of section 178

  276AB

Failure to comply with the provisions of sections 269UC, 269UE and 269UL

  276B

Failure to pay tax to the credit of Central Government under Chapter XII-D or XVII-B

  276BB

Failure to pay the tax collected at source

  276C

Wilful attempt to evade tax, etc.

  276CC

Failure to furnish returns of income

  276CCC

Failure to furnish return of income in search cases

  276D

Failure to produce accounts and documents

  277

False statement in verification, etc.

  277A

Falsification of books of account or document, etc.

  278

Abetment of false return, etc.

  278A

Punishment for second and subsequent offences

  278AA

Punishment not to be imposed in certain cases

  278B

Offences by companies

  278C

Offences by Hindu undivided families

  278D

Presumption as to assets, books of account, etc., in certain cases

  278E

Presumption as to culpable mental state

  279

Prosecution to be at instance of Chief Commissioner or Commissioner

  279A

Certain offences to be non-cognizable

  279B

Proof of entries in records or documents

  280

Disclosure of particulars by public servants

 

 

CHAPTER XXIII MISCELLENEOUS

 

 

  281

Certain transfers to be void

  281B

Provisional attachment to protect revenue in certain cases

  282

Service of notice generally

  283

Service of notice when family is disrupted or firm, etc., is dissolved

  284

Service of notice in the case of discontinued business

  285B

Submission of statements by producers of cinematograph films

  285BA

Obligation to furnish annual information return

  287

Publication of information respecting assessees in certain cases

  287A

Appearance by registered valuer in certain matters

  288

Appearance by authorised representative

  288A

Rounding off of income

  288B

Rounding off amount payable and refund due

  289

Receipt to be given

  290

Indemnity

  291

Power to tender immunity from prosecution

  292

Cognizance of offences

  292A

Section 360 of the Code of Criminal Procedure, 1973, and the Probation of Offenders Act, 1958, not to apply

  292B

Return of income, etc., not to be invalid on certain grounds

  292C

Presumption as to assets, books of account, etc.

  293

Bar of suits in civil courts

  293A

Power to make exemption, etc., in relation to participation in the business of prospecting for, extraction, etc., of mineral oils

  293B

Power of Central Government or Board to condone delays in obtaining approval

  294

Act to have effect pending legislative provision for charge of tax

  294A

Power to make exemption, etc., in relation to certain Union territories

  295

Power to make rules

  296

Rules and certain notifications to be placed before Parliament

  297

Repeals and savings

  298

Power to remove difficulties

 

 

SCHEDULES TO THE ACT

 

 

   I

Insurance Business

   II

Procedure for Recovery of Tax

   III

Procedure for Distraint by AO/TRO

   IV

A. RPF  B. Approved Superannuation Funds  C. Approved Gratuity Funds

   V

List of Articles and Things

   VI

Omitted

   VII

A. Materials  B. Groups of Associated Minerals

   VIII

List of Industrially Backward States & UT

   IX

Omitted

   X

Omitted

   XI

List of Articles or Things

   XII

Processed Minerals or Ores

   XIII

List of Articles or Things

   XIV

List of Articles or Things or Operations

2 Like

Kalpesh Chauhan, (Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com))   (8310 Points)
Replied 22 July 2010

I have also uploaded the above file.


Attached File : 50 it sections.doc downloaded: 1567 times
1 Like

KANCHAN (NONE) (21 Points)
Replied 07 October 2011

hi, can anybody tell me tat if the assesee has purcharsed agricultural land for claiming exemption under sec 54B but the assesee has purchased the land in the name of his wife so whether he will be ellibile for exemption under sec 54B


(Guest)

thnx a lot for the information

Hari Wadhwa (CA in Practice) (485 Points)
Replied 20 October 2011

Hi Kanchan

It is permissible to reinvest the property in the name of family member to claim exemption U/s 54B.

(Case in your support: Shri Babu Ram vs ITO 90 TTJ Delhi 332 )

Snehal Dilip Chodankar (assistant of admin.) (23 Points)
Replied 29 February 2012

plz send all provision and solved problem on direct tax and also service tax and vat for cs inter plz .on my email id rasikaangel89 @ yahoo.com

Snehal Dilip Chodankar (assistant of admin.) (23 Points)
Replied 29 February 2012

sir plz send some important problems on direct and indirect tax for csinter on rasikaangel89 @ yahoo.com

Darshan Soni (Practice) (32 Points)
Replied 23 July 2012

Please let me know the grounds of appeal in case of levy of interest u/s 234A,234B and 234C on company in liquidation when return is filed for A.Y 07-08 on 23-8-11, and  income was 84000/-.

Reason was that the dues were to be determined at that time but the tax was payable on 17-08-2011 of Rs 28567/-. 


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