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Income-tax Act, 2025
CHAPTER XIII — DETERMINATION OF TAX IN SPECIAL CASES

Act · Income-tax Act, 2025

Chapter XIII — DETERMINATION OF TAX IN SPECIAL CASES

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DETERMINATION OF TAX IN SPECIAL CASES

Sub-sections

Section 190 — Determination of tax where total income includes income on which no tax is payable
Section 191 — Tax on accumulated balance of recognised provident fund
Section 192 — Tax in case of block assessment of search cases
Section 193 — Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer
Section 194 — [Ss. 115B, 115BB, 115BBF, 115BBG, 115BBH and 115BBJ of the 1961 Act]
Section 195 — Tax on income referred to in sections 102 to 106
Section 196 — Tax on short-term capital gains in certain cases
Section 197 — Tax on long-term capital gains
Section 198 — Tax on long-term capital gains in certain cases
Section 199 — Tax on income of certain manufacturing domestic companies
Section 200 — Tax on income of certain domestic companies
Section 201 — Tax on income of new manufacturing domestic companies
Section 202 — New tax regime for individuals, Hindu undivided family and others
Section 203 — Tax on income of certain resident co-operative societies
Section 204 — Tax on income of certain new manufacturing co-operative societies
Section 205 — Conditions for tax on income of certain companies and co-operative societies
Section 206 — Special provision for minimum alternate tax and alternate minimum tax
Section 207 — Tax on dividends, royalty and fees for technical service in case of foreign companies
Section 208 — Tax on income from units purchased in foreign currency or capital gains arising from their transfer
Section 209 — Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer
Section 210 — Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer
Section 211 — Tax on non-resident sportsmen or sports associations
Section 212 — Interpretation
Section 213 — Special provision for computation of total income of non-residents
Section 214 — Tax on investment income and long-term capital gains
Section 215 — Capital gains on transfer of foreign exchange assets not to be charged in certain cases
Section 216 — Return of income not to be furnished in certain cases
Section 217 — Application of benefits under sections 212 to 216
Section 218 — Tax on business income of Offshore Banking Units or International Financial Services Centre unit
Section 219 — Conversion of an Indian branch of foreign company into subsidiary Indian company
Section 220 — Foreign company said to be resident in India
Section 221 — Tax on income from securitisation trusts
Section 222 — Tax on income in case of venture capital undertakings
Section 223 — Tax on income of unit holder and business trust
Section 224 — Tax on income of investment fund and its unit holders
Section 225 — Income from business of operating qualifying ships
Section 226 — Tonnage tax scheme
Section 227 — Computation of tonnage income
Section 228 — Relevant shipping income and exclusion from book profit
Section 229 — Depreciation and gains relating to tonnage tax assets
Section 230 — Exclusion of deduction, loss, set off, etc
Section 231 — Method of opting of tonnage tax scheme and validity
Section 232 — Certain conditions for applicability of tonnage tax scheme
Section 233 — Amalgamation and demerger
Section 234 — Avoidance of tax and exclusion from tonnage tax scheme
Section 235 — Interpretation

Related sections

Chapter I — PRELIMINARY
Chapter II — BASIS OF CHARGE
Chapter III — INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME
Chapter IV — COMPUTATION OF TOTAL INCOME
Chapter V — INCOME OF OTHER PERSONS INCLUDED IN TOTAL INCOME OF ASSESSEE
Chapter VI — AGGREGATION OF INCOME
Chapter VII — SET OFF, OR CARRY FORWARD AND SET OFF OF LOSSES
Chapter VIII — DEDUCTIONS TO BE MADE IN COMPUTING TOTAL INCOME
Chapter IX — REBATES AND RELIEFS
Chapter X — SPECIAL PROVISIONS RELATING TO A VOIDANCE OF TAX
Chapter XI — GENERAL ANTI-A VOIDANCE RULE
Chapter XII — MODE OF PAYMENT IN CERTAIN CASES, ETC.
Chapter XIV — TAX ADMINISTRATION
Chapter XV — RETURN OF INCOME
Chapter XVI — PROCEDURE FOR ASSESSMENT
Chapter XVII — SPECIAL PROVISIONS RELATING TO CERTAIN PERSONS
Chapter XVIII — APPEALS, REVISIONS AND ALTERNATE DISPUTE RESOLUTIONS
Chapter XIX — COLLECTION AND RECOVERY OF TAX
Chapter XX — REFUNDS
Chapter XXI — PENALTIES
Chapter XXII — OFFENCES AND PROSECUTION
Chapter XXIII — MISCELLANEOUS
Schedule I — CONDITIONS FOR CERTAIN ACTIVITIES NOT TO CONSTITUTE BUSINESS CONNECTION IN INDIA
Schedule II — INCOME NOT TO BE INCLUDED IN TOTAL INCOME
Schedule III — INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF ELIGIBLE PERSONS
Schedule IV — INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF ELIGIBLE NON- RESIDENTS, FOREIGN COMPANIES AND OTHER SUCH PERSONS
Schedule V — INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF CERTAIN ELIGIBLE PERSONS INCLUDING INVESTMENT FUNDS, BUSINESS TRUSTS AND THEIR UNIT HOLDERS
Schedule VI — INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF CERTAIN ELIGIBLE PERSONS IN INTERNATIONAL FINANCIAL SERVICES CENTRE OR HAVING INCOME THEREFROM
Schedule VII — PERSONS EXEMPT FROM TAX
Schedule VIII — INCOME NOT TO BE INCLUDED IN THE TOTAL INCOME OF POLITICAL PARTIES AND ELECTORAL TRUSTS
Schedule IX — DEDUCTION FOR TEA DEVELOPMENT ACCOUNT, COFFEE DEVELOPMENT ACCOUNT AND RUBBER DEVELOPMENT ACCOUNT FOR COMPUTING INCOME UNDER THE HEAD “PROFITS AND GAINS OF BUSINESS OR PROFESSION”
Schedule X — DEDUCTION FOR SITE RESTORATION FUND FOR COMPUTING INCOME UNDER THE HEAD “PROFITS AND GAINS OF BUSINESS OR PROFESSION”
Schedule XI — PART A RECOGNISED PROVIDENT FUNDS
Schedule XII — PART A 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

Contents

Chapter I — PRELIMINARY

Section 1 — Short title, extent and commencement

Section 2 — Definitions

Section 3 — Six kilometres

Chapter II — BASIS OF CHARGE

Section 4 — Charge of Income-tax

Section 5 — Scope of total income

Section 6 — Residence in India

Section 7 — Income deemed to be received and dividend deemed to be income in a tax year

Section 8 — Income on receipt of capital asset or stock-in-trade by specified person from specified entity

Section 9 — Income deemed to accrue or arise in India

Section 10 — Apportionment of income between spouses governed by Portuguese Civil Code

Chapter III — INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME

Section 11 — Incomes not included in total income

Section 12 — Incomes not included in total income of political parties and electoral trusts

Chapter IV — COMPUTATION OF TOTAL INCOME

Section 13 — Heads of income

Section 14 — Income not forming part of total income and expenditure in relation to such income

Section 15 — Salaries

Section 16 — Income from salary

Section 17 — Perquisite

Section 18 — Profits in lieu of salary

Section 19 — Deductions from salaries

Section 20 — Income from house property

Section 21 — Determination of annual value

Section 22 — Deductions from income from house property

Section 23 — Arrears of rent and unrealised rent received subsequently

Section 24 — Property owned by co-owners

Section 25 — Interpretation

Section 26 — Income under head “Profits and gains of business or profession”

Section 27 — Manner of computing profits and gains of business or profession

Section 28 — Rent, rates, taxes, repairs and insurance

Section 29 — Deductions related to employee welfare

Section 30 — Deduction on certain premium

Section 31 — Deduction for bad debt and provision for bad and doubtful debt

Section 32 — Other deductions

Section 33 — Deduction for depreciation

Section 34 — General conditions for allowable deductions

Section 35 — Amounts not deductible in certain circumstances

Section 36 — Expenses or payments not deductible in certain circumstances

Section 37 — Certain deductions allowed on actual payment basis only

Section 38 — Certain sums deemed as profits and gains of business or profession

Section 39 — Computation of actual cost

Section 40 — Special provision for computation of cost of acquisition of certain assets

Section 41 — Written down value of depreciable asset

Section 42 — Capitalising impact of foreign exchange fluctuation

Section 43 — Taxation of foreign exchange fluctuation

Section 44 — Amortisation of certain preliminary expenses

Section 45 — Expenditure on scientific research

Section 46 — Capital expenditure of specified business

Section 47 — Expenditure on agricultural extension project and skill development project

Section 48 — Tea development account, coffee development account and rubber development account

Section 49 — Site Restoration Fund

Section 50 — Special provision in case of trade, profession or similar association

Section 51 — Amortisation of expenditure for prospecting certain minerals

Section 52 — Amortisation of expenditure for telecommunications services, amalgamation, demerger, scheme of voluntary retirement, etc

Section 53 — Full value of consideration for transfer of assets other than capital assets in certain cases

Section 54 — Business of prospecting for mineral oils

Section 55 — Insurance business

Section 56 — Special provision in case of interest income of specified financial institutions

Section 57 — Revenue recognition for construction and service contracts

Section 58 — Special provision for computing profits and gains of business or profession on presumptive basis in case of certain residents

Section 59 — Computation of royalty and fee for technical services in hands of non-residents

Section 60 — Deduction of head office expenditure in case of non-residents

Section 61 — Special provision for computation of income on presumptive basis in respect of certain business activities of certain non-residents

Section 62 — Maintenance of books of account

Section 63 — Tax audit

Section 64 — Special provision for computing deductions in case of business reorganisation of co-operative banks

Section 65 — Interpretation for purposes of section 64

Section 66 — Interpretation

Section 67 — Capital gains

Section 68 — Capital gains on distribution of assets by companies in liquidation

Section 69 — Capital gains on purchase by company of its own shares or other specified securities

Section 70 — Transactions not regarded as transfer

Section 71 — Withdrawal of exemption in certain cases

Section 72 — Mode of computation of capital gains

Section 73 — Cost with reference to certain modes of acquisition

Section 74 — Special provision for computation of capital gains in case of depreciable assets

Section 75 — Special provision for cost of acquisition in case of depreciable asset

Section 76 — Special provision for computation of capital gains in case of Market Linked Debenture

Section 77 — Special provision for computation of capital gains in case of slump sale

Section 78 — Special provision for full value of consideration in certain cases

Section 79 — Special provision for full value of consideration for transfer of share other than quoted share

Section 80 — Fair market value deemed to be full value of consideration in certain cases

Section 81 — Advance money received

Section 82 — Profit on sale of property used for residence

Section 83 — Capital gains on transfer of land used for agricultural purposes not to be charged in certain cases

Section 84 — Capital gains on compulsory acquisition of lands and buildings not to be charged in certain cases

Section 85 — Capital gains not to be charged on investment in certain bonds

Section 86 — Capital gains on transfer of certain capital assets not to be charged in case of investment in residential house

Section 87 — Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area

Section 88 — Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone

Section 89 — Extension of time for acquiring new asset or depositing or investing amount of capital gains

Section 90 — Meaning of “adjusted”, “cost of improvement” and “cost of acquisition”

Section 91 — Reference to Valuation Officer

Section 92 — Income from other sources

Section 93 — Deductions

Section 94 — Amounts not deductible

Section 95 — Profits chargeable to tax

Chapter V — INCOME OF OTHER PERSONS INCLUDED IN TOTAL INCOME OF ASSESSEE

Section 96 — Transfer of income without transfer of assets

Section 97 — Chargeability of income in transfer of assets

Section 98 — “Transfer” and “revocable transfer” defined

Section 99 — Income of individual to include income of spouse, minor child, etc

Section 100 — Liability of person in respect of income included in income of another person

Chapter VI — AGGREGATION OF INCOME

Section 101 — Total income

Section 102 — Unexplained credits

Section 103 — Unexplained investment

Section 104 — Unexplained asset

Section 105 — Unexplained expenditure

Section 106 — Amount borrowed or repaid through negotiable instrument, hundi, etc

Section 107 — Charge of tax

Chapter VII — SET OFF, OR CARRY FORWARD AND SET OFF OF LOSSES

Section 108 — Set off of losses under same head of income

Section 109 — Set off of losses under any other head of income

Section 110 — Carry forward and set off of loss from house property

Section 111 — Carry forward and set off of loss from Capital gains

Section 112 — Carry forward and set off of business loss

Section 113 — Set off and carry forward of losses computed in respect of speculation business

Section 114 — Set off and carry forward of losses computed in respect of specified business

Section 115 — Set off and carry forward of losses from specified activity

Section 116 — Treatment of accumulated losses and unabsorbed depreciation in amalgamation or demerger, etc

Section 117 — Treatment of accumulated losses and unabsorbed depreciation in scheme of amalgamation in certain cases

Section 118 — Carry forward and set off of losses and unabsorbed depreciation in business reorganization of co-operative banks

Section 119 — Carry forward and set off of losses not permissible in certain cases

Section 120 — No set off of losses against undisclosed income consequent to search, requi-sition and survey

Section 121 — Submission of return for losses

Chapter VIII — DEDUCTIONS TO BE MADE IN COMPUTING TOTAL INCOME

Section 122 — Deductions to be made in computing total income

Section 123 — Deduction for life insurance premia, deferred annuity, contributions to pro-vident fund, etc

Section 124 — Deduction in respect of employer and assessee contribution to pension scheme of Central Government

Section 125 — Deduction in respect of contribution to Agnipath Scheme

Section 126 — Deduction in respect of health insurance premia

Section 127 — Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability

Section 128 — Deduction in respect of medical treatment, etc

Section 129 — Deduction in respect of interest on loan taken for higher education

Section 130 — Deduction in respect of interest on loan taken for residential house property

Section 131 — Deduction in respect of interest on loan taken for certain house property

Section 132 — Deduction in respect of purchase of electric vehicle

Section 133 — Deduction in respect of donations to certain funds, charitable institutions, etc

Section 134 — Deductions in respect of rents paid

Section 135 — Deduction in respect of certain donations for scientific research or rural development

Section 136 — Deduction in respect of contributions given by companies to political parties

Section 137 — Deduction in respect of contributions given by any person to political parties

Section 138 — Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc

Section 139 — Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone

Section 140 — Special provision in respect of specified business

Section 141 — Deduction in respect of profits and gains from certain industrial under-takings

Section 142 — Deductions in respect of profits and gains from housing projects

Section 143 — Special provisions in respect of certain undertakings in North-Eastern States

Section 144 — Special provisions in respect of newly established Units in Special Economic Zones

Section 145 — Deduction for businesses engaged in collecting and processing of bio-de - gradable waste

Section 146 — Deduction in respect of additional employee cost

Section 147 — Deductions for income of Offshore Banking Units and Units of International Financial Services Centre

Section 148 — Deduction in respect of certain inter-corporate dividends

Section 149 — Deduction in respect of income of co-operative societies

Section 150 — Deduction in respect of income of federal co-operative

Section 151 — Deduction in respect of royalty income, etc., of authors of certain books other than text-books

Section 152 — Deduction in respect of royalty on patents

Section 153 — Deduction for interest on deposits

Section 154 — Deduction in case of a person with disability

Chapter IX — REBATES AND RELIEFS

Section 155 — Rebate to be allowed in computing income-tax

Section 156 — Rebate of income-tax in case of certain individuals

Section 157 — Relief when salary, etc., is paid in arrears or in advance

Section 158 — Relief from taxation in income from retirement benefit account maintained in a notified country

Section 159 — Agreement with foreign countries or specified territories and adoption by Central Government of agreement between specified associations for double taxation relief

Section 160 — Countries with which no agreement exists

Chapter X — SPECIAL PROVISIONS RELATING TO A VOIDANCE OF TAX

Section 161 — Computation of income from international transaction and specified domestic transaction having regard to arm’s length price

Section 162 — Meaning of associated enterprise

Section 163 — Meaning of international transaction. [S. 92B of the 1961 Act]

Section 164 — Meaning of specified domestic transaction

Section 165 — Determination of arm’s length price

Section 166 — Reference to Transfer Pricing Officer

Section 167 — Power of Board to make safe harbour rules

Section 168 — Advance pricing agreement

Section 169 — Effect to advance pricing agreement

Section 170 — Secondary adjustment in certain cases

Section 171 — Maintenance, keeping and furnishing of information and document by certain persons

Section 172 — Report from an accountant to be furnished by persons entering into inter-national transaction or specified domestic transaction

Section 173 — Definitions of certain terms relevant to determination of arm’s length price, etc

Section 174 — Avoidance of income-tax by transactions resulting in transfer of income to non-residents

Section 175 — Avoidance of tax by certain transactions in securities

Section 176 — Special measures in respect of transactions with persons located in notified jurisdictional area

Section 177 — Limitation on interest deduction in certain cases

Chapter XI — GENERAL ANTI-A VOIDANCE RULE

Section 178 — Applicability of General Anti-Avoidance Rule

Section 179 — Impermissible avoidance arrangement

Section 180 — Arrangement to lack commercial substance

Section 181 — Consequences of impermissible avoidance arrangement. [S. 98 of the 1961 Act]

Section 182 — Treatment of connected person and accommodating party

Section 183 — Application of this Chapter

Section 184 — Interpretation

Chapter XII — MODE OF PAYMENT IN CERTAIN CASES, ETC.

Section 185 — Mode of taking or accepting certain loans, deposits and specified sum

Section 186 — Mode of undertaking transactions

Section 187 — Acceptance of payment through prescribed electronic modes

Section 188 — Mode of repayment of certain loans or deposits or specified advances

Section 189 — Interpretation

Chapter XIII — DETERMINATION OF TAX IN SPECIAL CASES

Section 190 — Determination of tax where total income includes income on which no tax is payable

Section 191 — Tax on accumulated balance of recognised provident fund

Section 192 — Tax in case of block assessment of search cases

Section 193 — Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer

Section 194 — [Ss. 115B, 115BB, 115BBF, 115BBG, 115BBH and 115BBJ of the 1961 Act]

Section 195 — Tax on income referred to in sections 102 to 106

Section 196 — Tax on short-term capital gains in certain cases

Section 197 — Tax on long-term capital gains

Section 198 — Tax on long-term capital gains in certain cases

Section 199 — Tax on income of certain manufacturing domestic companies

Section 200 — Tax on income of certain domestic companies

Section 201 — Tax on income of new manufacturing domestic companies

Section 202 — New tax regime for individuals, Hindu undivided family and others

Section 203 — Tax on income of certain resident co-operative societies

Section 204 — Tax on income of certain new manufacturing co-operative societies

Section 205 — Conditions for tax on income of certain companies and co-operative societies

Section 206 — Special provision for minimum alternate tax and alternate minimum tax

Section 207 — Tax on dividends, royalty and fees for technical service in case of foreign companies

Section 208 — Tax on income from units purchased in foreign currency or capital gains arising from their transfer

Section 209 — Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer

Section 210 — Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer

Section 211 — Tax on non-resident sportsmen or sports associations

Section 212 — Interpretation

Section 213 — Special provision for computation of total income of non-residents

Section 214 — Tax on investment income and long-term capital gains

Section 215 — Capital gains on transfer of foreign exchange assets not to be charged in certain cases

Section 216 — Return of income not to be furnished in certain cases

Section 217 — Application of benefits under sections 212 to 216

Section 218 — Tax on business income of Offshore Banking Units or International Financial Services Centre unit

Section 219 — Conversion of an Indian branch of foreign company into subsidiary Indian company

Section 220 — Foreign company said to be resident in India

Section 221 — Tax on income from securitisation trusts

Section 222 — Tax on income in case of venture capital undertakings

Section 223 — Tax on income of unit holder and business trust

Section 224 — Tax on income of investment fund and its unit holders

Section 225 — Income from business of operating qualifying ships

Section 226 — Tonnage tax scheme

Section 227 — Computation of tonnage income

Section 228 — Relevant shipping income and exclusion from book profit

Section 229 — Depreciation and gains relating to tonnage tax assets

Section 230 — Exclusion of deduction, loss, set off, etc

Section 231 — Method of opting of tonnage tax scheme and validity

Section 232 — Certain conditions for applicability of tonnage tax scheme

Section 233 — Amalgamation and demerger

Section 234 — Avoidance of tax and exclusion from tonnage tax scheme

Section 235 — Interpretation

Chapter XIV — TAX ADMINISTRATION

Section 236 — Income-tax authorities

Section 237 — Appointment of income-tax authorities

Section 238 — Control of income-tax authorities

Section 239 — Instructions to subordinate authorities

Section 240 — Taxpayer’s Charter

Section 241 — Jurisdiction of income-tax authorities

Section 242 — Jurisdiction of Assessing Officers

Section 243 — Power to transfer cases

Section 244 — Change of incumbent of an office

Section 245 — Faceless jurisdiction of income-tax authorities

Section 246 — Power regarding discovery, production of evidence, etc

Section 247 — Search and seizure

Section 248 — Powers to requisition

Section 249 — Reasons not to be disclosed

Section 250 — Application of seized or requisitioned assets

Section 251 — Copying, extraction, retention and release of books of account and documents seized or requisitioned

Section 252 — Power to call for information

Section 253 — Powers of survey

Section 254 — Power to collect certain information

Section 255 — Power to inspect registers of companies

Section 256 — Power of certain income-tax authorities

Section 257 — Proceedings before income-tax authorities to be judicial proceedings

Section 258 — Disclosure of information relating to assessees

Section 259 — Power to call for information by prescribed income-tax authority

Section 260 — Faceless collection of information

Section 261 — Interpretation

Chapter XV — RETURN OF INCOME

Section 262 — Permanent Account Number

Section 263 — Return of income

Section 264 — Scheme for submission of returns through tax return preparers

Section 265 — Return by whom to be verified

Section 266 — Self-assessment

Section 267 — Tax on updated return

Chapter XVI — PROCEDURE FOR ASSESSMENT

Section 268 — Inquiry before assessment

Section 269 — Estimation of value of assets by Valuation Officer

Section 270 — Assessment

Section 271 — Best judgment assessment

Section 272 — Power of Joint Commissioner to issue directions in certain cases

Section 273 — Faceless Assessment

Section 274 — Reference to Principal Commissioner or Commissioner in certain cases

Section 275 — Reference to Dispute Resolution Panel

Section 276 — Method of accounting

Section 277 — Method of accounting in certain cases

Section 278 — Taxability of certain income

Section 279 — Income escaping assessment

Section 280 — Issue of notice where income has escaped assessment

Section 281 — Procedure before issuance of notice under section 280

Section 282 — Time limit for notices under sections 280 and 281

Section 283 — Provision for cases where assessment is in pursuance of an order on appeal, etc

Section 284 — Sanction for issue of notice

Section 285 — Other provisions

Section 286 — Time limit for completion of assessment, reassessment and recomputation

Section 287 — Rectification of mistake

Section 288 — Other amendments

Section 289 — Notice of demand

Section 290 — Modification and revision of notice in certain cases

Section 291 — Intimation of loss

Section 292 — Assessment of total undisclosed income as a result of search

Section 293 — Computation of total undisclosed income of block period

Section 294 — Procedure for block assessment

Section 295 — Undisclosed income of any other person

Section 296 — Time-limit for completion of block assessment

Section 297 — Certain interests and penalties not to be levied or imposed

Section 298 — Levy of interest and penalty in certain cases. [S. 158BFA of the 1961 Act]

Section 299 — Authority competent to make assessment of block period

Section 300 — Application of other provisions of Act

Section 301 — Interpretation

Chapter XVII — SPECIAL PROVISIONS RELATING TO CERTAIN PERSONS

Section 302 — 1.—Legal representatives Legal representative

Section 303 — 2.—Representative assessees—General provisions Representative assessee

Section 304 — Liability of representative assessee

Section 305 — Right of representative assessee to recover tax paid

Section 306 — Who may be regarded as agent

Section 307 — Charge of tax where share of beneficiaries unknown

Section 308 — Charge of tax in case of oral trust

Section 309 — Method of computing a member’s share in income of association of persons or body of individuals

Section 310 — Share of member of association of persons or body of individuals in income of association or body

Section 311 — Charge of tax where shares of members in association of persons or body of individuals unknown, etc

Section 312 — Executor

Section 313 — Succession to business or profession otherwise than on death

Section 314 — Effect of order of tribunal or court in respect of business reorganisation

Section 315 — Assessment after partition of Hindu undivided family

Section 316 — Shipping business of non-residents

Section 317 — Assessment of persons leaving India

Section 318 — Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose

Section 319 — Assessment of persons likely to transfer property to avoid tax

Section 320 — Discontinued business

Section 321 — Association dissolved or business discontinued

Section 322 — Company in liquidation

Section 323 — 13.—Private companies Liability of directors of private company

Section 324 — 14.—Assessment of firms Charge of tax in case of a firm

Section 325 — Assessment as a firm

Section 326 — Assessment when section 325 not complied with

Section 327 — 15.—Change in constitution, succession and dissolution Change in constitution of a firm

Section 328 — Succession of one firm by another firm

Section 329 — Joint and several liability of partners for tax payable by firm

Section 330 — Firm dissolved or business discontinued

Section 331 — 16.—Liability of partners of limited liability partnership in liquidation Liability of partners of limited liability partnership in liquidation

Section 332 — Application for registration

Section 333 — Switching over of regimes

Section 334 — Tax on income of registered non-profit organisation

Section 335 — Regular income

Section 336 — Taxable regular income

Section 337 — Specified income

Section 338 — Income not to be included in regular income

Section 339 — Corpus donation

Section 340 — Deemed corpus donation

Section 341 — Application of income

Section 342 — Accumulated income

Section 343 — Deemed accumulated income

Section 344 — Business undertaking held as property

Section 345 — Restriction on commercial activities by a registered non-profit organisation

Section 346 — Restriction on commercial activities by registered non-profit organisation, carrying out advancement of any other object of general public utility

Section 347 — Books of account

Section 348 — Audit

Section 349 — Return of income

Section 350 — Permitted modes of investment

Section 351 — Specified violation

Section 352 — Tax on accreted income

Section 353 — Other violations

Section 354 — Application for approval for purpose of section 133(1)(b)(ii)

Section 355 — Interpretation

Chapter XVIII — APPEALS, REVISIONS AND ALTERNATE DISPUTE RESOLUTIONS

Section 356 — Appealable orders before Joint Commissioner (Appeals)

Section 357 — Appealable orders before Commissioner (Appeals)

Section 358 — Form of appeal and limitation

Section 359 — Procedure in appeal

Section 360 — Powers of Joint Commissioner (Appeals) or Commissioner (Appeals)

Section 361 — Appellate Tribunal

Section 362 — Appeals to Appellate Tribunal

Section 363 — Orders of Appellate Tribunal

Section 364 — Procedure of Appellate Tribunal

Section 365 — Appeal to High Court

Section 366 — Case before High Court to be heard by not less than two Judges

Section 367 — Appeal to Supreme Court

Section 368 — Hearing before Supreme Court

Section 369 — Tax to be paid irrespective of appeal, etc

Section 370 — Execution for costs awarded by Supreme Court

Section 371 — Amendment of assessment on appeal

Section 372 — Exclusion of time taken for copy

Section 373 — Filing of appeal by income-tax authority

Section 374 — Interpretation of “High Court”

Section 375 — Procedure when assessee claims identical question of law is pending before High Court or Supreme Court

Section 376 — Procedure where an identical question of law is pending before High Courts or Supreme Court

Section 377 — Commissioner or Principal Commissioner or Commissioner Revision of orders prejudicial to revenue

Section 378 — Revision of other orders

Section 379 — 1.—Dispute Resolution Committee in certain cases Dispute Resolution Committee

Section 380 — 2.—Advance rulings Interpretation

Section 381 — Board for Advance Rulings

Section 382 — Vacancies, etc., not to invalidate proceedings

Section 383 — Application for advance ruling

Section 384 — Procedure on receipt of application

Section 385 — Appellate authority not to proceed in certain cases

Section 386 — Advance ruling to be void in certain circumstances

Section 387 — Powers of the Board for Advance Rulings

Section 388 — Procedure of Board for Advance Rulings

Section 389 — Appeal

Chapter XIX — COLLECTION AND RECOVERY OF TAX

Section 390 — Deduction or collection at source and advance payment

Section 391 — Direct payment

Section 392 — Salary and accumulated balance due to an employee

Section 393 — Tax to be deducted at source

Section 394 — Collection of tax at source

Section 395 — Certificates

Section 396 — Tax deducted is income received

Section 397 — Compliance and reporting

Section 398 — Consequences of failure to deduct or pay or, collect or pay

Section 399 — Processing

Section 400 — Power of Central Government to relax provisions of this Chapter

Section 401 — Bar against direct demand on assessee

Section 402 — Interpretation

Section 403 — Liability for payment of advance tax

Section 404 — Conditions of liability to pay advance tax

Section 405 — Computation of advance tax

Section 406 — Payment of advance tax by assessee on his own accord

Section 407 — Payment of advance tax by assessee in pursuance of order of Assessing Officer

Section 408 — Instalments of advance tax and due dates

Section 409 — When assessee is deemed to be in default

Section 410 — Credit for advance tax

Section 411 — When tax payable and when assessee deemed in default

Section 412 — Penalty payable when tax in default

Section 413 — Certificate by Tax Recovery Officer and validity thereof

Section 414 — Tax Recovery Officer by whom recovery is to be effected

Section 415 — Stay of proceedings in pursuance of certificate and amendment or cancella-tion thereof

Section 416 — Other modes of recovery

Section 417 — Recovery through State Government

Section 418 — Recovery of tax in pursuance of agreements with foreign countries

Section 419 — Recovery of penalties, fine, interest and other sums

Section 420 — Tax clearance certificate

Section 421 — Recovery by suit or under other law not affected

Section 422 — Recovery of tax arrear in respect of non-resident from his assets

Section 423 — Interest for defaults in furnishing return of income

Section 424 — Interest for defaults in payment of advance tax

Section 425 — Interest for deferment of advance tax

Section 426 — Interest on excess refund

Section 427 — Fee for default in furnishing statements

Section 428 — Fee for default in furnishing return of income, audited accounts and reports

Section 429 — Fee for default relating to statement or certificate

Section 430 — Fee for default relating to intimation of Aadhaar number

Chapter XX — REFUNDS

Section 431 — Refunds

Section 432 — Person entitled to claim refund in certain special cases

Section 433 — Form of claim for refund and limitation

Section 434 — Refund for denying liability to deduct tax in certain cases

Section 435 — Refund on appeal, etc

Section 436 — Correctness of assessment not to be questioned

Section 437 — Interest on refunds

Section 438 — Set off and withholding of refunds in certain cases

Chapter XXI — PENALTIES

Section 439 — Penalty for under-reporting and misreporting of income

Section 440 — Waiver of penalty and immunity from prosecution.]

Section 441 — Failure to keep, maintain or retain books of account, documents, etc

Section 442 — Penalty for failure to keep and maintain information and document, etc., in respect of certain transactions

Section 443 — Penalty in respect of certain income

Section 444 — Penalty for false entry, etc., in books of account

Section 445 — Benefits to related persons

Section 446 — Penalty for failure to furnish information or for furnishing inaccurate information on transaction of crypto-asset

Section 447 — Penalty for failure to furnish report under section 172

Section 448 — Penalty for failure to deduct tax at source

Section 449 — Penalty for failure to collect tax at source

Section 450 — Penalty for failure to comply with provisions of section 185

Section 451 — Penalty for failure to comply with provisions of section 186

Section 452 — Penalty for failure to comply with provisions of section 187

Section 453 — Penalty for failure to comply with provisions of section 188

Section 454 — Penalty for failure to furnish statement of financial transaction or reportable account after a notice

Section 455 — Penalty for furnishing inaccurate statement of financial transaction or reportable account

Section 456 — Penalty for failure to furnish statement or information or document by an eligible investment fund

Section 457 — Penalty for failure to furnish information or document under section 171

Section 458 — Penalty for failure to furnish information or document under section 506

Section 459 — Penalty for failure to furnish report or for furnishing inaccurate report under section 511

Section 460 — Penalty for failure to submit statement under section 505

Section 461 — Penalty for failure to furnish statements, etc

Section 462 — Penalty for failure to furnish information or furnishing inaccurate information under section 397(3)(d)

Section 463 — Penalty for furnishing incorrect information in reports or certificates

Section 464 — Penalty for failure to furnish statements, etc

Section 465 — Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc

Section 466 — Penalty for failure to comply with the provisions of section 254

Section 467 — Penalty for failure to comply with the provisions of 14[sections 262 and 397]

Section 468 — Penalty for failure to comply with the provisions of section 397

Section 469 — Power to reduce or waive penalty, etc., in certain cases

Section 470 — Penalty not to be imposed in certain cases

Section 471 — Procedure

Section 472 — Bar of limitation for imposing penalties

Chapter XXII — OFFENCES AND PROSECUTION

Section 473 — Contravention of order made during search action.]

Section 474 — Failure to afford facility for inspection of books of account during search.]

Section 475 — Removal, concealment, transfer or delivery of property to prevent tax recovery

Section 476 — Failure to pay tax to credit of Central Government under Chapter XIX-B

Section 477 — Failure to pay tax collected at source

Section 478 — Wilful attempt to evade tax, etc

Section 479 — Failure to furnish returns of income

Section 480 — Failure to furnish return of income setting forth undisclosed income

Section 481 — Failure to comply with a direction of special audit or valuation

Section 482 — False statement in verification, etc

Section 483 — Falsification of books of account or document, etc

Section 484 — Abetment of false return, etc

Section 485 — Punishment for second and subsequent offences

Section 486 — Punishment not to be imposed in certain cases

Section 487 — Offences by companies

Section 488 — Offences by Hindu undivided family

Section 489 — Presumption as to assets, books of account, etc., in certain cases

Section 490 — Presumption as to culpable mental state

Section 491 — Prosecution to be at instance of Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner

Section 492 — Certain offences to be non-cognizable

Section 493 — Proof of entries in records or documents

Section 494 — Disclosure of particulars by public servants

Section 495 — Special Courts

Section 496 — Offences triable by Special Court

Section 497 — Trial of offences as summons case

Section 498 — Application of Bharatiya Nagarik Suraksha Sanhita, 2023 to proceedings before Special Court

Chapter XXIII — MISCELLANEOUS

Section 499 — Certain transfers to be void

Section 500 — Provisional attachment to protect revenue in certain cases

Section 501 — Service of notice, generally

Section 502 — Authentication of notices and other documents

Section 503 — Service of notice when family is disrupted or firm etc., is dissolved

Section 504 — Service of notice in case of discontinued business

Section 505 — Submission of statement by a non-resident having liaison office

Section 506 — Furnishing of information or documents by an Indian concern in certain cases

Section 507 — Submission of statements by producers of cinematograph films or persons engaged in specified activity

Section 508 — Obligation to furnish statement of financial transaction or reportable account

Section 509 — Obligation to furnish information on transaction of crypto-asset

Section 510 — Annual information statement

Section 511 — Furnishing of report in respect of international group

Section 512 — Publication of information respecting assessees in certain cases

Section 513 — Appearance by registered valuer in certain matters

Section 514 — Registration of valuers

Section 515 — Appearance by authorised representative

Section 516 — Rounding off of amount of total income, or amount payable or refundable

Section 517 — Receipt to be given

Section 518 — Indemnity

Section 519 — Power to tender immunity from prosecution

Section 520 — Cognizance of offences

Section 521 — Probation of Offenders Act, 1958 and section 401 of Bharatiya Nagarik Sura-ksha Sanhita, 2023, not to apply

Section 522 — Circumstances in which return of income, assessment, approvals, etc., not to be invalid

Section 523 — Notice deemed to be valid in certain circumstances

Section 524 — Presumption as to assets, books of account, etc

Section 525 — Authorisation and assessment in case of search or requisition

Section 526 — Bar of suits in civil courts

Section 527 — Power to make exemption, etc., in relation to participation in business of prospecting for, extraction, etc., of mineral oils

Section 528 — Power of Central Government or Board to condone delays in obtaining approval

Section 529 — Power to withdraw approval

Section 530 — Act to have effect pending legislative provision for charge of tax

Section 531 — Power to rescind exemption in relation to certain Union territories already granted under section 294A of the Income-tax Act, 1961

Section 532 — Power to frame schemes

Section 533 — Power to make rules

Section 534 — Laying before Parliament

Section 535 — Removal of difficulties

Section 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 — PART A RECOGNISED PROVIDENT FUNDS

Schedule XII — PART A 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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