CONTENTS |
1 | 2 | 3
Income Tax India - FAQ - How to file Income Tax Returns, Income Tax Rates Applicable 2006-2007, 2007 - 2008, Important Dates... More
New Income Tax Return Forms for 2007-08 click here
|
Sections | Particulars |
| |
| Preamble |
| Abbreviations |
| |
1 | Short title, extent and commencement. |
2 | Definitions. |
3 | Previous year defined. |
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. |
10 | Incomes not included in total income. |
10A | Special provision in respect of newly established industrial undertakings in free tade zones. |
10B | Special provision in respect of newly established hundred percent export-oriented undertakings. |
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 as to registration of trusts, etc. |
12AA | Procedure for registration. |
13 | Section 11 not to apply in certain cases. |
13A | Special provision relating to incomes of political parties. |
14 | Heads of income. |
15 | Salaries. |
16 | Deductions from salaries. |
17 | Salary, "Perquisite" and "Profits in lieu of salary" Defined. |
18 | Omitted. |
19 | Omitted. |
20 | Omitted. |
21 | Omitted. |
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. |
26 | Property owned by Co-owners. |
27 | Owner of house property, Annual Charge, etc., Defined. |
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. |
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. |
35B | Omitted. |
35C | Omitted. |
35CC | Omitted. |
35CCA | Expenditure by way of payment to associations and institutions for carrying out rural development programmes. |
35CCB | Expenditure by way of payment to association 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. |
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. |
39 | Omitted. |
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, 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. |
44AC | Omitted. |
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 | Specila 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 Comapnies engaged inthe business of civil construction, etc., in certain trunkey 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. |
45 | Capital Gains. |
46 | Capital gains on distribution of assets by companies in liquidation. |
46A | Capital gains on purchases by company of its own 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 provisions for computation of capital gains in case of slump sale. |
51 | Advance money received. |
52 | Omitted. |
53 | Omitted. |
54 | Profit on sale of property used for Residence. |
54A | Omitted. |
54B | Capital gain on transfer of land used for agricultural purposes not to be charged in certain cases. |
54C | Omitted. |
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 land-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. |
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. |
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. |
56 | Income from other sources. |
57 | Deductions. |
58 | Amounts not deductible. |
59 | Profits chargeable to tax. |
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. |
66 | Total Income. |
67 | Omitted. |
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 accounts. |
69C | Unexplained expenditure, etc. |
69D | Amount borrowed or repaid on hundi. |
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. |
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. |
80A | Deductions to be made in computing total income. |
80AA | Omitted. |
80AB | Deductions to be made with reference to the Income included in the gross total income. |
80B | Definitions. |
80C | Omitted. |
80CC | Omitted. |
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. |
80D | Deduction in respect of medical insurance premia. |
80DD | Deduction in respect of maintenance including medical treatment of handicapped dependent. |
80DDB | Deduction in respect of medical treatment, etc. |
80E | Deduction in respect of repayment of loan taken for higher education. |
80F | Omitted. |
80FF | Omitted. |
80G | Deduction in respect of donations to certain funds, charitable institutions, etc. |
80GG | Deduction in respect of rents paid. |
80GGA | Deduction in respect of certain donations for scientific research or rural development. |
80H | Omitted. |
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 | Deduction in respect of profits and gains from industrial undertakings, etc., in certain cases. |
80IB | Deduction in respect of profits and gains from certain industrial undertakings other than infrastructure development undertakings. |
80J | Omitted. |
80JJ | Omitted. |
80JJA | Deduction in respect of profit and gains from business of collecting and processing of Bio-Degradable waste. |
80JJAA | Deduction in respect of employment of new workmen. |
80K | Omitted |
80L | Deductions in respect of interest on certain securities, dividends, etc. |
80M | Omitted. |
80MM | Omitted. |
80N | Omitted. |
80-O | 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. |
80QQ | Omitted. |
80QQA | Deduction in respect of professional income of authors of text books in Indian Languages. |
80R | Decuction in respect of remuneration from certain Foreign sources in the case or 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. |
80S | Omitted. |
80T | Omitted. |
80TT | Omitted. |
80U | Deduction in the Case of Permanent Physical Disability (Including Blindness). |
80V | Omitted. |
80VV | Omitted. |
80VVA | Omitted. |
81 | Omitted. |
82 | Omitted. |
83 | Omitted. |
84 | Omitted. |
85 | Omitted. |
85A | Omitted. |
85B | Omitted. |
85C | Omitted. |
86 | Share of member of an association of persons or body of individuals in the Income of the Association or Body. |
86A | Omitted. |
87 | Rebate to be allowed in Computing Income-Tax. |
87A | Omitted. |
88 | Rebate on Life Insurance Premia, Contribution to Provident Fund, etc. |
88A | Omitted. |
88B | Rebate of Income-Tax in case of Individuals of Sixty-Five Years or Above. |
89 | Relief when salary, etc., is paid in arrears or in advance. |
89A | Omitted. |
90 | Agreement with Foreign Countries. |
91 | Countries with which no agreement exists. |
92 | Income from Transactions with Non-Residents, How Computed in certain cases. |
93 | Avoidance of Income-Tax by transactions resulting in transfer of Income to Non-Residents. |
94 | Avoidance of tax by certain transactions in securities. |
95 | Omitted. |
96 | Omitted. |
97 | Omitted. |
98 | Omitted. |
99 | Omitted. |
100 | Omitted. |
101 | Omitted. |
102 | Omitted. |
103 | Omitted. |
104 | Omitted. |
105 | Omitted. |
106 | Omitted. |
107 | Omitted. |
107A | Omitted. |
108 | Omitted. |
109 | Omitted. |
110 | Determination of Tax where Total Income includes Income on which no tax is payable. |