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Income Tax India - FAQ - How to file Income Tax Returns, Income Tax Rates Applicable 2006-2007, 2007 - 2008, Important Dates... More
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| 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. |
