Income-tax Act
Act No. 30 of 2025
The Income-tax Act, 2025
The Income-tax Act, 2025 (30 of 2025), as amended by the Finance Act, 2026 (4 of 2026) and the Taxation and Other Laws (Amendment) Act, 2026 (21 of 2026).
172 recorded amendments See what changed and when
537
Sections
23
Chapters
30 of 2025
Act No.
1 April 2026
In force from
536
sections
Default readable text
Opening text
Preamble
An Act to consolidate and amend the law relating to income-tax.
BE it enacted by Parliament in the Seventy-sixth Year of the Republic of India as follows:—
Chapter I
3 sections
Preliminary
S. 2 Definitions
S. 3 Definition of “tax year”
Chapter II
7 sections
Basis of Charge
S. 4 Charge of income-tax
S. 5 Scope of total income
S. 6 Residence in India
S. 7 Income deemed to be received and dividend deemed to be income in a tax year
S. 8 Income on receipt of capital asset or stock-in-trade by specified person from specified entity
S. 9 Income deemed to accrue or arise in India
S. 10 Apportionment of income between spouses governed by Portuguese Civil Code
Chapter III
2 sections
Incomes Which Do Not Form Part of Total Income
A.—Incomes not to be included in total income
S. 11 Incomes not included in total income
B.—Incomes not to be included in total income of political parties and electoral trusts
S. 12 Incomes not included in total income of political parties and electoral trusts
Chapter IV
83 sections
Computation of Total Income
A.—Heads of income
S. 13 Heads of income
S. 14 Income not forming part of total income and expenditure in relation to such income
B.—Salaries
S. 15 Salaries
S. 16 Income from salary
S. 17 Perquisite
S. 18 Profits in lieu of salary
S. 19 Deductions from salaries
C.—Income from house property
S. 20 Income from house property
S. 21 Determination of annual value
S. 22 Deductions from income from house property
S. 23 Arrears of rent and unrealised rent received subsequently
S. 24 Property owned by co-owners
S. 25 Interpretation
D.—Profits and gains of business or profession
S. 26 Income under head “Profits and gains of business or profession”
S. 27 Manner of computing profits and gains of business or profession
S. 28 Rent, rates, taxes, repairs and insurance
S. 29 Deductions related to employee welfare
S. 30 Deduction on certain premium
S. 31 Deduction for bad debt and provision for bad and doubtful debt
S. 32 Other deductions
S. 33 Deduction for depreciation
S. 34 General conditions for allowable deductions
S. 35 Amounts not deductible in certain circumstances
S. 36 Expenses or payments not deductible in certain circumstances
S. 37 Certain deductions allowed on actual payment basis only
S. 38 Certain sums deemed as profits and gains of business or profession
S. 39 Computation of actual cost
S. 40 Special provision for computation of cost of acquisition of certain assets
S. 41 Written down value of depreciable asset
S. 42 Capitalising impact of foreign exchange fluctuation
S. 43 Taxation of foreign exchange fluctuation
S. 44 Amortisation of certain preliminary expenses
S. 45 Expenditure on scientific research
S. 46 Capital expenditure of specified business
S. 47 Expenditure on agricultural extension project and skill development project
S. 48 Tea development account, coffee development account and rubber development account
S. 49 Site Restoration Fund
S. 50 Special provision in case of trade, profession or similar association
S. 51 Amortisation of expenditure for prospecting certain minerals
S. 52 Amortisation of expenditure for telecommunications services, amalgamation, demerger, scheme of voluntary retirement, etc
S. 53 Full value of consideration for transfer of assets other than capital assets in certain cases
S. 54 Business of prospecting for mineral oils
S. 55 Insurance business
S. 56 Special provision in case of interest income of specified financial institutions
S. 57 Revenue recognition for construction and service contracts
S. 58 Special provision for computing profits and gains of business or profession on presumptive basis in case of certain residents
S. 59 Computation of royalty and fee for technical services in hands of non-residents
S. 60 Deduction of head office expenditure in case of non-residents
S. 61 Special provision for computation of income on presumptive basis in respect of certain business activities of certain non-residents
S. 62 Maintenance of books of account
S. 63 Tax audit
S. 64 Special provision for computing deductions in case of business reorganisation of co-operative banks
S. 65 Interpretation for purposes of section 64
S. 66 Interpretation
E.—Capital gains
S. 67 Capital gains
S. 68 Capital gains on distribution of assets by companies in liquidation
S. 69 Capital gains on purchase by company of its own shares or other specified securities
S. 70 Transactions not regarded as transfer
S. 71 Withdrawal of exemption in certain cases
S. 72 Mode of computation of capital gains
S. 73 Cost with reference to certain modes of acquisition
S. 74 Special provision for computation of capital gains in case of depreciable assets
S. 75 Special provision for cost of acquisition in case of depreciable asset
S. 76 Special provision for computation of capital gains in case of Market Linked Debenture
S. 77 Special provision for computation of capital gains in case of slump sale
S. 78 Special provision for full value of consideration in certain cases
S. 79 Special provision for full value of consideration for transfer of share other than quoted share
S. 80 Fair market value deemed to be full value of consideration in certain cases
S. 81 Advance money received
S. 82 Profit on sale of property used for residence
S. 83 Capital gains on transfer of land used for agricultural purposes not to be charged in certain cases
S. 84 Capital gains on compulsory acquisition of lands and buildings not to be charged in certain cases
S. 85 Capital gains not to be charged on investment in certain bonds
S. 86 Capital gains on transfer of certain capital assets not to be charged in case of investment in residential house
S. 87 Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area
S. 88 Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone
S. 89 Extension of time for acquiring new asset or depositing or investing amount of capital gains
S. 90 Meaning of “adjusted”, “cost of improvement” and “cost of acquisition”
S. 91 Reference to Valuation Officer
F.—Income from other sources
S. 92 Income from other sources
S. 93 Deductions
S. 94 Amounts not deductible
S. 95 Profits chargeable to tax
Chapter V
5 sections
Income of Other Persons Included in Total Income of Assessee
S. 96 Transfer of income without transfer of assets
S. 97 Chargeability of income in transfer of assets
S. 98 “Transfer” and “revocable transfer” defined
S. 99 Income of individual to include income of spouse, minor child, etc
S. 100 Liability of person in respect of income included in income of another person
Chapter VI
7 sections
Aggregation of Income
S. 101 Total income
S. 102 Unexplained credits
S. 103 Unexplained investment
S. 104 Unexplained asset
S. 105 Unexplained expenditure
S. 106 Amount borrowed or repaid through negotiable instrument, hundi, etc
S. 107 Charge of tax
Chapter VII
14 sections
Set Off, or Carry Forward and Set Off of Losses
S. 108 Set off of losses under same head of income
S. 109 Set off of losses under any other head of income
S. 110 Carry forward and set off of loss from house property
S. 111 Carry forward and set off of loss from Capital gains
S. 112 Carry forward and set off of business loss
S. 113 Set off and carry forward of losses computed in respect of speculation business
S. 114 Set off and carry forward of losses computed in respect of specified business
S. 115 Set off and carry forward of losses from specified activity
S. 116 Treatment of accumulated losses and unabsorbed depreciation in amalgamation or demerger, etc
S. 117 Treatment of accumulated losses and unabsorbed depreciation in scheme of amalgamation in certain cases
S. 118 Carry forward and set off of losses and unabsorbed depreciation in business reorganisation of co-operative banks
S. 119 Carry forward and set off of losses not permissible in certain cases
S. 120 No set off of losses against undisclosed income consequent to search, requisition and survey
S. 121 Submission of return for losses
Chapter VIII
33 sections
Deductions to Be Made in Computing Total Income
A.—General
S. 122 Deductions to be made in computing total income
B.—Deductions in respect of certain payments
S. 123 Deduction for life insurance premia, deferred annuity, contributions to provident fund, etc
S. 124 Deduction in respect of employer and assessee contribution to pension scheme of Central Government
S. 125 Deduction in respect of contribution to Agnipath Scheme
S. 126 Deduction in respect of health insurance premia
S. 127 Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability
S. 128 Deduction in respect of medical treatment, etc
S. 129 Deduction in respect of interest on loan taken for higher education
S. 130 Deduction in respect of interest on loan taken for residential house property
S. 131 Deduction in respect of interest on loan taken for certain house property
S. 132 Deduction in respect of purchase of electric vehicle
S. 133 Deduction in respect of donations to certain funds, charitable institutions, etc
S. 134 Deductions in respect of rents paid
S. 135 Deduction in respect of certain donations for scientific research or rural development
S. 136 Deduction in respect of contributions given by companies to political parties
S. 137 Deduction in respect of contributions given by any person to political parties
C.—Deductions in respect of certain incomes
S. 138 Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc
S. 139 Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone
S. 140 Special provision in respect of specified business
S. 141 Deduction in respect of profits and gains from certain industrial undertakings
S. 142 Deductions in respect of profits and gains from housing projects
S. 143 Special provisions in respect of certain undertakings in North-Eastern States
S. 144 Special provisions in respect of newly established Units in Special Economic Zones
S. 145 Deduction for businesses engaged in collecting and processing of bio-degradable waste
S. 146 Deduction in respect of additional employee cost
S. 147 Deductions for income of Offshore Banking Units and Units of International Financial Services Centre
S. 148 Deduction in respect of certain inter-corporate dividends
S. 149 Deduction in respect of income of co-operative societies
S. 150 Deduction in respect of income of federal co-operative
S. 151 Deduction in respect of royalty income, etc., of authors of certain books other than text-books
S. 152 Deduction in respect of royalty on patents
D.—Deductions in respect of other incomes
S. 153 Deduction for interest on deposits
E.—Other deductions
S. 154 Deduction in case of a person with disability
Chapter IX
6 sections
Rebates and Reliefs
A.—Rebates and reliefs
S. 155 Rebate to be allowed in computing income-tax
S. 156 Rebate of income-tax in case of certain individuals
S. 157 Relief when salary, etc., is paid in arrears or in advance
S. 158 Relief from taxation in income from retirement benefit account maintained in a notified country
B.—Double taxation relief
S. 159 Agreement with foreign countries or specified territories and adoption by Central Government of agreement between specified associations for double taxation relief
S. 160 Countries with which no agreement exists
Chapter X
17 sections
Special Provisions Relating to Avoidance of Tax
S. 161 Computation of income from international transaction and specified domestic transaction having regard to arm’s length price
S. 162 Meaning of associated enterprise
S. 163 Meaning of international transaction
S. 164 Meaning of specified domestic transaction
S. 165 Determination of arm’s length price
S. 166 Reference to Transfer Pricing Officer
S. 167 Power of Board to make safe harbour rules
S. 168 Advance pricing agreement
S. 169 Effect to advance pricing agreement
S. 170 Secondary adjustment in certain cases
S. 171 Maintenance, keeping and furnishing of information and document by certain persons
S. 172 Report from an accountant to be furnished by persons entering into international transaction or specified domestic transaction
S. 173 Definitions of certain terms relevant to determination of arm’s length price, etc
S. 174 Avoidance of income-tax by transactions resulting in transfer of income to non-residents
S. 175 Avoidance of tax by certain transactions in securities
S. 176 Special measures in respect of transactions with persons located in notified jurisdictional area
S. 177 Limitation on interest deduction in certain cases
Chapter XI
7 sections
General Anti-Avoidance Rule
S. 178 Applicability of General Anti-Avoidance Rule
S. 179 Impermissible avoidance arrangement
S. 180 Arrangement to lack commercial substance
S. 181 Consequences of impermissible avoidance arrangement
S. 182 Treatment of connected person and accommodating party
S. 183 Application of this Chapter
S. 184 Interpretation
Chapter XII
5 sections
Mode of Payment in Certain Cases, etc.
S. 185 Mode of taking or accepting certain loans, deposits and specified sum
S. 186 Mode of undertaking transactions
S. 187 Acceptance of payment through prescribed electronic modes
S. 188 Mode of repayment of certain loans or deposits or specified advances
S. 189 Interpretation
Chapter XIII
46 sections
Determination of Tax in Special Cases
A.—Determination of tax in certain special cases
S. 190 Determination of tax where total income includes income on which no tax is payable
S. 191 Tax on accumulated balance of recognised provident fund
S. 192 Tax in case of block assessment of search cases
S. 193 Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer
S. 194 Tax on certain incomes
S. 195 Tax on income referred to in sections 102 to 106
B.—Special provisions relating to tax on capital gains
S. 196 Tax on short-term capital gains in certain cases
S. 197 Tax on long-term capital gains
S. 198 Tax on long-term capital gains in certain cases
C.—New tax regime
S. 199 Tax on income of certain manufacturing domestic companies
S. 200 Tax on income of certain domestic companies
S. 201 Tax on income of new manufacturing domestic companies
S. 202 New tax regime for individuals, Hindu undivided family and others
S. 203 Tax on income of certain resident co-operative societies
S. 204 Tax on income of certain new manufacturing co-operative societies
S. 205 Conditions for tax on income of certain companies and co-operative societies
D.—Special provisions relating to minimum alternate tax and alternate minimum tax
S. 206 Special provision for minimum alternate tax and alternate minimum tax
E.—Special provisions relating to non-residents and foreign companies
S. 207 Tax on dividends, royalty and fees for technical service in case of foreign companies
S. 208 Tax on income from units purchased in foreign currency or capital gains arising from their transfer
S. 209 Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer
S. 210 Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer
S. 211 Tax on non-resident sportsmen or sports associations
S. 212 Interpretation
S. 213 Special provision for computation of total income of non-residents
S. 214 Tax on investment income and long-term capital gains
S. 215 Capital gains on transfer of foreign exchange assets not to be charged in certain cases
S. 216 Return of income not to be furnished in certain cases
S. 217 Application of benefits under sections 212 to 216
S. 218 Tax on business income of Offshore Banking Units or International Financial Services Centre unit
S. 219 Conversion of an Indian branch of foreign company into subsidiary Indian company
S. 220 Foreign company said to be resident in India
F.—Special provisions relating to pass-through entities
S. 221 Tax on income from securitisation trusts
S. 222 Tax on income in case of venture capital undertakings
S. 223 Tax on income of unit holder and business trust
S. 224 Tax on income of investment fund and its unit holders
G.—Special provisions relating to income of shipping companies
S. 225 Income from business of operating qualifying ships
S. 226 Tonnage tax scheme
S. 227 Computation of tonnage income
S. 228 Relevant shipping income and exclusion from book profit
S. 229 Depreciation and gains relating to tonnage tax assets
S. 230 Exclusion of deduction, loss, set off, etc
S. 231 Method of opting of tonnage tax scheme and validity
S. 232 Certain conditions for applicability of tonnage tax scheme
S. 233 Amalgamation and demerger
S. 234 Avoidance of tax and exclusion from tonnage tax scheme
S. 235 Interpretation
Chapter XIV
26 sections
Tax Administration
A.—Authorities, jurisdiction and functions
S. 236 Income-tax authorities
S. 237 Appointment of income-tax authorities
S. 238 Control of income-tax authorities
S. 239 Instructions to subordinate authorities
S. 240 Taxpayer’s Charter
S. 241 Jurisdiction of income-tax authorities
S. 242 Jurisdiction of Assessing Officers
S. 243 Power to transfer cases
S. 244 Change of incumbent of an office
S. 245 Faceless jurisdiction of income-tax authorities
B.—Powers
S. 246 Power regarding discovery, production of evidence, etc
S. 247 Search and seizure
S. 248 Powers to requisition
S. 249 Reasons not to be disclosed
S. 250 Application of seized or requisitioned assets
S. 251 Copying, extraction, retention and release of books of account and documents seized or requisitioned
S. 252 Power to call for information
S. 253 Powers of survey
S. 254 Power to collect certain information
S. 255 Power to inspect registers of companies
S. 256 Power of certain income-tax authorities
S. 257 Proceedings before income-tax authorities to be judicial proceedings
S. 258 Disclosure of information relating to assessees
S. 259 Power to call for information by prescribed income-tax authority
S. 260 Faceless collection of information
S. 261 Interpretation
Chapter XV
6 sections
Return of Income
A.—Allotment of Permanent Account Number
S. 262 Permanent Account Number
B.—Filing of return of income
S. 263 Return of income
S. 264 Scheme for submission of returns through tax return preparers
S. 265 Return by whom to be verified
S. 266 Self-assessment
S. 267 Tax on updated return
Chapter XVI
34 sections
Procedure for Assessment
A.—Procedure for assessment
S. 268 Inquiry before assessment
S. 269 Estimation of value of assets by Valuation Officer
S. 270 Assessment
S. 271 Best judgment assessment
S. 272 Power of Joint Commissioner to issue directions in certain cases
S. 273 Faceless Assessment
S. 274 Reference to Principal Commissioner or Commissioner in certain cases
S. 275 Reference to Dispute Resolution Panel
S. 276 Method of accounting
S. 277 Method of accounting in certain cases
S. 278 Taxability of certain income
S. 279 Income escaping assessment
S. 280 Issue of notice where income has escaped assessment
S. 281 Procedure before issuance of notice under section 280
S. 282 Time limit for notices under sections 280 and 281
S. 283 Provision for cases where assessment is in pursuance of an order on appeal, etc.
S. 284 Sanction for issue of notice
S. 285 Other provisions
S. 286 Time limit for completion of assessment, reassessment and recomputation
S. 287 Rectification of mistake
S. 288 Other amendments
S. 289 Notice of demand
S. 290 Modification and revision of notice in certain cases
S. 291 Intimation of loss
B.—Special procedure for assessment of search cases
S. 292 Assessment of total undisclosed income as a result of search
S. 293 Computation of total undisclosed income of block period
S. 294 Procedure for block assessment
S. 295 Undisclosed income of any other person
S. 296 Time-limit for completion of block assessment
S. 297 Certain interests and penalties not to be levied or imposed
S. 298 Levy of interest and penalty in certain in cases
S. 299 Authority competent to make assessment of block period
S. 300 Application of other provisions of Act
S. 301 Interpretation
Chapter XVII
55 sections
Special Provisions Relating to Certain Persons
A.—Association of persons, firm, Hindu undivided family, etc. 1.—Legal representatives
S. 302 Legal representative
2.—Representative assessees—General provisions
S. 303 Representative assessee
S. 304 Liability of representative assessee
S. 305 Right of representative assessee to recover tax paid
3.—Representative assesses—Special cases
S. 306 Who may be regarded as agent
S. 307 Charge of tax where share of beneficiaries unknown
S. 308 Charge of tax in case of oral trust
4.—Association of persons and body of individuals
S. 309 Method of computing a member’s share in income of association of persons or body of individuals
S. 310 Share of member of association of persons or body of individuals in income of association or body
S. 311 Charge of tax where shares of members in association of persons or body of individuals unknown, etc
5.—Executors
S. 312 Executor
6.—Succession to business or profession
S. 313 Succession to business or profession otherwise than on death
S. 314 Effect of order of tribunal or court in respect of business reorganisation
7.—Partition
S. 315 Assessment after partition of Hindu undivided family
8.—Profits of non-residents from occasional shipping business
S. 316 Shipping business of non-residents
9.—Persons leaving India
S. 317 Assessment of persons leaving India
10.—Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose
S. 318 Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose
11.—Persons trying to alienate their assets
S. 319 Assessment of persons likely to transfer property to avoid tax
12.—Discontinuance of business, or dissolution
S. 320 Discontinued business
S. 321 Association dissolved or business discontinued
S. 322 Company in liquidation
13.—Private companies
S. 323 Liability of directors of private company
14.—Assessment of firms
S. 324 Charge of tax in case of a firm
S. 325 Assessment as a firm
S. 326 Assessment when section 325 not complied with
15.—Change in constitution, succession and dissolution
S. 327 Change in constitution of a firm
S. 328 Succession of one firm by another firm
S. 329 Joint and several liability of partners for tax payable by firm
S. 330 Firm dissolved or business discontinued
16.—Liability of partners of limited liability partnership in liquidation
S. 331 Liability of partners of limited liability partnership in liquidation
B.—Special provisions for registered non-profit organisation 1.––Registration
S. 332 Application for registration
S. 333 Switching over of regimes
2.––Income of registered non-profit organisation
S. 334 Tax on income of registered non-profit organisation
S. 335 Regular income
S. 336 Taxable regular income
S. 337 Specified income
S. 338 Income not to be included in regular income
S. 339 Corpus donation
S. 340 Deemed corpus donation
S. 341 Application of income
S. 342 Accumulated income
S. 343 Deemed accumulated income
3.––Commercial activities by registered non-profit organisation
S. 344 Business undertaking held as property
S. 345 Restriction on commercial activities by a registered non-profit organisation
S. 346 Restriction on commercial activities by registered non-profit organisation, carrying out advancement of any other object of general public utility
4.––Compliances
S. 347 Books of account
S. 348 Audit
S. 349 Return of income
S. 350 Permitted modes of investment
5.––Violations
S. 351 Specified violation
S. 352 Tax on accreted income
S. 353 Other violations
6.––Approval for purpose of deduction under section 133(1)(b)(ii)
S. 354 Application for approval for purpose of section 133(1)(b)(ii)
S. 354A Merger of register non-profit organisation in certain cases
7.—Interpretation
S. 355 Interpretation
Chapter XVIII
34 sections
Appeals, Revisions and Alternate Dispute Resolutions
A.—Appeals 1.—Appeals to Joint Commissioner (Appeals) and Commissioner (Appeals)
S. 356 Appealable orders before Joint Commissioner (Appeals)
S. 357 Appealable orders before Commissioner (Appeals)
S. 358 Form of appeal and limitation
S. 359 Procedure in appeal
S. 360 Powers of Joint Commissioner (Appeals) or Commissioner (Appeals)
2.—Appeals to Appellate Tribunal.
S. 361 Appellate Tribunal
S. 362 Appeals to Appellate Tribunal
S. 363 Orders of Appellate Tribunal
S. 364 Procedure of Appellate Tribunal
3.—Appeals to High Court
S. 365 Appeal to High Court
S. 366 Case before High Court to be heard by not less than two Judges
4.—Appeals to Supreme Court
S. 367 Appeal to Supreme Court
S. 368 Hearing before Supreme Court
5.—General
S. 369 Tax to be paid irrespective of appeal, etc
S. 370 Execution for costs awarded by Supreme Court
S. 371 Amendment of assessment on appeal
S. 372 Exclusion of time taken for copy
S. 373 Filing of appeal by income-tax authority
S. 374 Interpretation of “High Court”
B.—Special provisions for avoiding repetitive appeals
S. 375 Procedure when assessee claims identical question of law is pending before High Court or Supreme Court
S. 376 Procedure where an identical question of law is pending before High Courts or Supreme Court
C.—Revision by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner
S. 377 Revision of orders prejudicial to revenue
S. 378 Revision of other orders
D.—Alternate Dispute Resolutions 1.—Dispute Resolution Committee in certain cases
S. 379 Dispute Resolution Committee
2.—Advance rulings
S. 380 Interpretation
S. 381 Board for Advance Rulings
S. 382 Vacancies, etc., not to invalidate proceedings
S. 383 Application for advance ruling
S. 384 Procedure on receipt of application
S. 385 Appellate authority not to proceed in certain cases
S. 386 Advance ruling to be void in certain circumstances
S. 387 Powers of the Board for Advance Rulings
S. 388 Procedure of Board for Advance Rulings
S. 389 Appeal
Chapter XIX
41 sections
Collection and Recovery of Tax
A.—General
S. 390 Deduction or collection at source and advance payment
S. 391 Direct payment
B.—Deduction and collection at source
S. 392 Salary and accumulated balance due to an employee
S. 393 Tax to be deducted at source
S. 394 Collection of tax at source
S. 395 Certificates
S. 396 Tax deducted is income received
S. 397 Compliance and reporting
S. 398 Consequences of failure to deduct or pay or, collect or pay
S. 399 Processing
S. 400 Power of Central Government to relax provisions of this Chapter
S. 401 Bar against direct demand on assessee
S. 402 Interpretation
C.––Advance payment of tax
S. 403 Liability for payment of advance tax
S. 404 Conditions of liability to pay advance tax
S. 405 Computation of advance tax
S. 406 Payment of advance tax by assessee on his own accord
S. 407 Payment of advance tax by assessee in pursuance of order of Assessing Officer
S. 408 Instalments of advance tax and due dates
S. 409 When assessee is deemed to be in default
S. 410 Credit for advance tax
D.—Collection and Recovery
S. 411 When tax payable and when assessee deemed in default
S. 412 Penalty payable when tax in default
S. 413 Certificate by Tax Recovery Officer and validity thereof
S. 414 Tax Recovery Officer by whom recovery is to be effected
S. 415 Stay of proceedings in pursuance of certificate and amendment or cancellation thereof
S. 416 Other modes of recovery
S. 417 Recovery through State Government
S. 418 Recovery of tax in pursuance of agreements with foreign countries
S. 419 Recovery of penalties, fine, interest and other sums
S. 420 Tax clearance certificate
S. 421 Recovery by suit or under other law not affected
S. 422 Recovery of tax arrear in respect of non-resident from his assets
E.—Interest chargeable in certain cases
S. 423 Interest for defaults in furnishing return of income
S. 424 Interest for defaults in payment of advance tax
S. 425 Interest for deferment of advance tax
S. 426 Interest on excess refund
F.—LEVY OF FEE IN CERTAIN CASES
S. 427 Fee for default in furnishing statements
S. 428 Fee for default in furnishing return of income, audited accounts and reports
S. 429 Fee for default relating to statement or certificate
S. 430 Fee for default relating to intimation of Aadhaar number
Chapter XX
8 sections
Refunds
S. 431 Refunds
S. 432 Person entitled to claim refund in certain special cases
S. 433 Form of claim for refund and limitation
S. 434 Refund for denying liability to deduct tax in certain cases
S. 435 Refund on appeal, etc
S. 436 Correctness of assessment not to be questioned
S. 437 Interest on refunds
S. 438 Set off and withholding of refunds in certain cases
Chapter XXI
34 sections
Penalties
S. 439 Penalty for under-reporting and misreporting of income
S. 440 Waiver of penalty and immunity from prosecution
S. 441 Failure to keep, maintain or retain books of account, documents, etc
S. 442 Penalty for failure to keep and maintain information and document, etc., in respect of certain transactions
S. 443 Penalty in respect of certain income
S. 444 Penalty for false entry, etc., in books of account
S. 445 Benefits to related persons
S. 446 Penalty for failure to furnish information or for furnishing inaccurate information on transaction of crypto-asset
S. 447 Penalty for failure to furnish report under section 172
S. 448 Penalty for failure to deduct tax at source
S. 449 Penalty for failure to collect tax at source
S. 450 Penalty for failure to comply with provisions of section 185
S. 451 Penalty for failure to comply with provisions of section 186
S. 452 Penalty for failure to comply with provisions of section 187
S. 453 Penalty for failure to comply with provisions of section 188
S. 454 Penalty for failure to furnish statement of financial transaction or reportable account after a notice
S. 455 Penalty for furnishing inaccurate statement of financial transaction or reportable account
S. 456 Penalty for failure to furnish statement or information or document by an eligible investment fund
S. 457 Penalty for failure to furnish information or document under section 171
S. 458 Penalty for failure to furnish information or document under section 506
S. 459 Penalty for failure to furnish report or for furnishing inaccurate report under section 511
S. 460 Penalty for failure to submit statement under section 505
S. 461 Penalty for failure to furnish statements, etc
S. 462 Penalty for failure to furnish information or furnishing inaccurate information under section 397 (3)(d)
S. 463 Penalty for furnishing incorrect information in reports or certificates
S. 464 Penalty for failure to furnish statements, etc
S. 465 Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc
S. 466 Penalty for failure to comply with the provisions of section 254
S. 467 Penalty for failure to comply with the provisions of sections 262 and 397
S. 468 Penalty for failure to comply with the provisions of section 397
S. 469 Power to reduce or waive penalty, etc., in certain cases
S. 470 Penalty not to be imposed in certain cases
S. 471 Procedure
S. 472 Bar of limitation for imposing penalties
Chapter XXII
26 sections
Offences and Prosecution
S. 473 Contravention of order made during search action
S. 474 Failure to afford facility for inspection of books of account during search
S. 475 Removal, concealment, transfer or delivery of property to prevent tax recovery
S. 476 Failure to pay tax to credit of Central Government under Chapter XIX-B
S. 477 Failure to pay tax collected at source
S. 478 Wilful attempt to evade tax, etc
S. 479 Failure to furnish returns of income
S. 480 Failure to furnish return of income setting forth undisclosed income
S. 481 Failure to comply with a direction of special audit or valuation
S. 482 False statement in verification, etc
S. 483 Falsification of books of account or document, etc
S. 484 Abetment of false return, etc
S. 485 Punishment for second and subsequent offences
S. 486 Punishment not to be imposed in certain cases
S. 487 Offences by companies
S. 488 Offences by Hindu undivided family
S. 489 Presumption as to assets, books of account, etc., in certain cases
S. 490 Presumption as to culpable mental state
S. 491 Prosecution to be at instance of Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner
S. 492 Certain offences to be non-cognizable
S. 493 Proof of entries in records or documents
S. 494 Disclosure of particulars by public servants
S. 495 Special Courts
S. 496 Offences triable by Special Court
S. 497 Trial of offences as summons case
S. 498 Application of Bharatiya Nagarik Suraksha Sanhita, 2023 to proceedings before Special Court
Chapter XXIII
38 sections
Miscellaneous
S. 499 Certain transfers to be void
S. 500 Provisional attachment to protect revenue in certain cases
S. 501 Service of notice, generally
S. 502 Authentication of notices and other documents
S. 503 Service of notice when family is disrupted or firm etc., is dissolved
S. 504 Service of notice in case of discontinued business
S. 505 Submission of statement by a non-resident having liaison office
S. 506 Furnishing of information or documents by an Indian concern in certain cases
S. 507 Submission of statements by producers of cinematograph films or persons engaged in specified activity
S. 508 Obligation to furnish statement of financial transaction or reportable account
S. 509 Obligation to furnish information on transaction of crypto-asset
S. 510 Annual information statement
S. 511 Furnishing of report in respect of international group
S. 512 Publication of information respecting assessees in certain cases
S. 513 Appearance by registered valuer in certain matters
S. 514 Registration of valuers
S. 515 Appearance by authorised representative
S. 516 Rounding off of amount of total income, or amount payable or refundable
S. 517 Receipt to be given
S. 518 Indemnity
S. 519 Power to tender immunity from prosecution
S. 520 Cognizance of offences
S. 521 Probation of Offenders Act, 1958 and section 401 of Bharatiya Nagarik Suraksha Sanhita, 2023, not to apply
S. 522 Circumstances in which return of income, assessment, approvals, etc., not to be invalid
S. 523 Notice deemed to be valid in certain circumstances
S. 524 Presumption as to assets, books of account, etc
S. 525 Authorisation and assessment in case of search or requisition
S. 526 Bar of suits in civil courts
S. 527 Power to make exemption, etc., in relation to participation in business of prospecting for, extraction, etc., of mineral oils
S. 528 Power of Central Government or Board to condone delays in obtaining approval
S. 529 Power to withdraw approval
S. 530 Act to have effect pending legislative provision for charge of tax
S. 531 Power to rescind exemption in relation to certain Union territories already granted under section 294A of the Income-tax Act, 1961
S. 532 Power to frame schemes
S. 533 Power to make rules
S. 534 Laying before Parliament
S. 535 Removal of difficulties
S. 536 Repeal and savings
- Schedule I Conditions for Certain Activities Not to Constitute Business Connection in India
- Schedule II Income Not to Be Included in Total Income
- Schedule III Income Not to Be Included in Total Income of Eligible Persons
- Schedule IV Income Not to Be Included in Total Income of Eligible Non-Residents, Foreign Companies and Other Such Persons
- Schedule V Income Not to Be Included in Total Income of Certain Eligible Persons Including Investment Funds, Business Trusts and Their Unit Holders
- Schedule VI Income Not to Be Included in Total Income of Certain Eligible Persons in International Financial Services Centre or Having Income Therefrom
- Schedule VII Persons Exempt from Tax
- Schedule VIII Income Not to Be Included in the Total Income of Political Parties and Electoral Trusts
- Schedule IX Deduction for Tea Development Account, Coffee Development Account and Rubber Development Account for Computing Income Under the Head “Profits and Gains of Business or Profession”
- Schedule X Deduction for Site Restoration Fund for Computing Income Under the Head “Profits and Gains of Business or Profession”
- Schedule XI Recognised Provident Funds; Approved Superannuation Funds and Gratuity Funds; Power to Make Rules for Provident Funds, Superannuation Funds and Gratuity Funds
- Schedule XII Minerals; Groups of Associated Minerals
- Schedule XIII List of Articles or Things
- Schedule XIV Insurance Business
- Schedule XV Deduction in Respect of Life Insurance Premia, Contribution to Provident Fund, Subscription to Certain Equity Shares, Etc.
- Schedule XVI Permitted Modes of Investment or Deposits
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