Income Tax Act, 1961

Income Tax Act, 1961

CONTENTS
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.
111	Tax on Accumulated Balance of recognised provident fund.
112	Tax on Long-Term Capital gains.
112A	Omitted.
113	Tax in the case of block assessment of search cases.
114	Omitted.
115	Omitted.
115A	Tax on Dividends, royalty and Technical service fees in the case of Foreign Companies.
115AB	Tax on Income from units purchased in Foreign Currency or capital gains arising from their transfer.
115AC	Tax on Income from bonds or shares purchased in Foreign currency or capital gains arising from their transfer.
115ACA	Tax on Income from global depository receeipts purchased in Foreign Currency or capital gains arising from their transfer.
115AD	Tax on Income of Foreign Institutional Investors from securities or capital gains arising from their transfer.
115B	Tax on Profits and gains of Life Insurance Business.
115BB	Tax on winnings from lotteries, crossword puzzles, races including hourse races, card games and other games of any sport or gambling or betting of any form or nature whatsoever.
115BBA	Tax on Non-Resident Sports or Sports Associations.
115C	Definitions.
115D	Special provision for computation of total Income of Non-Residents.
115E	Tax on Investment Income and Long-Term Capital gains.
115F	Capital gains on transfer of Foreign Exchange assets not to be charged in certain cases.
115G	Return of Income not to be filed in certain cases.
115H	Benefit under chapter to be available in certain cases evern after the assessee becomes Resident.
115I	Chapter not to apply if the assessee so chooses.
115J	Special Provisions relating to certain companies.
115JA	Deemed Income Relating to certain Companies.
115JAA	Tax credit in respect of tax paid on deemed Income Relating to certain Companies.
115K	Omitted.
115L	Omitted.
115M	Omitted.
115N	Omitted.
115-O	Tax on Distributed profits of Domestic Companies.
115P	Interest payable for Non-Payment of Tax by Domestic Companies.
115Q	When Company is deemed to be in default.
115R	Tax on Distributed Income to Unit Holders.
115S	Interest payable for non-payment of tax.
115T	Unit Trust Of India or Mutual Fund to be assessee in default.
116	Income-Tax Authorities.
117	Appointment of Income-Tax Authorities.
118	Control of Income-Tax Authorities.
119	Instructions to Subordinate Authorities.
120	Jurisdiction of Income-Tax Authorities.
121	Omitted.
121A	Omitted.
122	Omitted.
123	Omitted.
124	Jurisdiction of Assessing Officers.
125	Omitted.
125A	Omitted.
126	Omitted.
127	Power to transfer cases.
128	Omitted.
129	Change of Incumbent of an office.
130	Omitted.
130A	Omitted.
131	Power regarding Discovery, Production of Evidence, etc.
132	Search and Seizure.
132A	Powers to requisition books of account , etc.
132B	Application of Retained Assets.
133	Power to call for Information.
133A	Power of Survey.
133B	Power to Collect Certain Information.
134	Power to Inspect Registers of Companies.
135	Powers of Director General or Director Chief Commissioner or Commissioner and Joint Commissioner.
136	Proceedings before Income-Tax Authorities to be Judicial Proceedings.
137	Omitted.
138	Disclosure of Information respecting Assesses.
139	Return of Income.
139A	Permanent Account Number.
140	Return by whom to be signed.
140A	Self-Assessment.
141	Omitted.
141A	Omitted.
142	Enquiry before Assessment.
143	Assessment.
144	Best Judgment Assessment.
144A	Power of Deputy Commissioner to issue Directions in certain cases.
144B	Omitted.
145	Method of Accounting.
145A	Method of Accounting in certain cases.
146	Omitted.
147	Income Escaping Assessment.
148	Issue of Notice where Income has escaped assessment.
149	The limit for notice.
150	Provision for cases where assessment is in prusuance of an order on appeal, etc.
151	Sanction for issue of notice.
152	Other Provisions.
153	Time limit for completion of assessments and reassessments.
154	Rectification of Mistake.
155	Other Amendments.
156	Notice of Demand.
157	Intimation of loss.
158	Intimation of Assessment of firm.
158A	Procedure when assessee claims identical question law is pending before High Court or Supreme Court.
158B	Definitions.
158BA	Assessment of undisclosed Income as a result to search.
158BB	Computation of undisclosed Income of the block period.
158BC	Procedure for block assessment.
158BD	Undisclosed Income of any other person.
158BE	Time limit for completion of Block assessment.
158BF	Certain interests and penalties not to be levied or imposed.
158BFA	Levy of Interest and Penalty in certain cases.
158BG	Authority competent to make block assessment.
158BH	Application of other provisions of this Act.
159	Legal Representatives.
160	Representative Assessee.
161	Liability of representative assessee.
162	Right of representative assessee to recover tax paid.
163	Who may be regarded as agent.
164	Charge of Tax where share of beneficiaries unknown.
164A	Charge of tax in case of oral trust.
165	Case where part of trust Income is chargeable.
166	Direct Assessment or recovery not barred.
167	Remedies against property in cases of representative assessees.
167A	Charge of tax in the case of a firm.
167B	Charge of Tax where shares of members in association of persons or body of individuals unknown, etc.
168	Executors.
169	Right of Executor to recover Tax paid.
170	Succession to Business otherwise than on death.
171	Assessment after partition of a Hindu undivided family.
172	Shipping Business of Non-Residents.
173	Recovery of Tax in respect of Non-Resident from his assets.
174	Assessment of persons leaving India.
175	Assessment of persons likely to transfer property to avoid tax.
176	Discontinued Business.
177	Association dissolved or business discontinued.
178	Company in Liquidation.
179	Liability of Directors of Private Company in Liquidation.
180	Royalties or Copyright Fees for literary or artistic work.
180A	Consideration for Know-How.
181	Omitted.
182	Omitted.
183	Omitted.
184	Assessment as a firm.
185	Assessment when section 184 not complied with.
187	Change in Constitution of a Firm.
188	Succession of one firm by another firm.
188A	Joint and Several Liability of Partners for Tax payable by firm.
189	Firm Dissolved or Business Discontinued.
189A	Provisions applicable to past assessments of firms.
190	Deduction at source and advance payment.
191	Direct Payment.
192	Salary.
193	Interest on Securities.
194	Dividends.
194A	Interest other than “Interest on Securities”.
194B	Winnings from lottery or crossword puzzle.
194BB	Winnings From Horse Race.
194C	Payments to contractors and Sub-Contractors.
194D	Insurance Commission.
194E	Payments to Non-Resident Sportsmen or Sports Associations.
194EE	Payments in respect of deposits under National Savings Scheme, etc.
194F	Payments on Account of Repurchase of units by Mutual Fund or Unit Trust Of India.
194G	Commission, etc., on the sale of lottery tickets.
194H	Commission, Brokerage, etc.
194I	Rent.
194J	Fees for Professional or Technical services.
194K	Income in Respect of Units.
194L	Payment of Compensation on Acquisition of Capital Asset.
195	Other Sums.
195A	Income Payable “Net of Tax”.
196	Interest or Dividend or other sums payable to Government, Reserve Bank or Certain Corporations.
196A	Income in respect of Units of Non-Residents.
196B	Income from Units.
196C	Income from Foreign Currency bonds or shares of Indian Company.
196D	Income of Foreign Institutional Investors from securities.
197	Certificate for Deduction at Lower Rate.
197A	No Deduction to be made in certain cases.
198	Tax deducted is Income received.
199	Credit for Deducted.
200	Duty of person deducting tax.
201	Consequences of failure to deduct or pay.
202	Deduction only one Mode of recovery.
203	Certificate for Tax deducted.
203A	Tax deduction account number.
204	Meaning of “Person Responsible for Paying”.
205	Bar Against Direct Demand on Assessee.
206	Persons deducting Tax to furnish prescribed returns.
206A	Omitted.
206B	Omitted.
206C	Profits and Gains from the Business of trading in Alcoholic Liquor, Forest Produce, Scrap, Etc.
207	Liability for Payment of Advance Tax.
208	Conditions of Liability to Pay Advance Tax.
209	Computation of Advance Tax.
209A	Omitted.
210	Payment of Advance Tax by the Assessee of his own accord or in pursuance of order of Assessing Officer.
211	Instalments of Advance Tax and Due Dates.
212	Omitted.
213	Omitted.
214	Interest Payable by Government.
215	Interest payable by Assessee.
216	Interest Payable by Assessee in case of Understimate, Etc.
217	Interest Payable by Assesee when no Estimate Made.
218	When Assessee Deemed to be in Default.
219	Credit For Advance Tax.
220	When Tax Payable and When Assessee Deemed in Default.
221	Penalty Payable When Tax in Default.
222	Certificate by Tax Recovery Officer.
223	Tax Recovery Officer by Whom Recovery is to be Effected.
224	Validity of Certificate and Cancellation or Amendment thereof.
225	Stay of Proceedings in Pursuance of certificae and amendment or cancellation thereof.
226	Other Modes of Recovery.
227	Recovery Through State Government.
228	Omitted.
228A	Recovery of Tax in Pursuance of Agreement with Foreign Countries.
229	Recovery of Penalties, Fine, Interest and Other Sums.
230	Tax Clearance Certificate.
230A	Restrictions on Registration of Transfers of Immovable property in certain cases.
231	Omitted.
232	Recovery by suit or under other law nto affected.
233	Omitted.
234	Omitted.
234A	Interest for defaults in furnishing return of Income.
234B	Interest for defaults in Payament of Advance Tax.
234C	Interest for Deferment of Advance Tax.
235	Omitted.
236	Relief to Company in Respect of dividend paid out of past taxed profits.
236A	Relief to certain charitable institutions or funds in respect of certain dividends.
237	Refunds.
238	Person Entitled to claim refund in certain special cases.
239	Form of claim for refund and limitation.
240	Refund on Appeal, Etc.
241	Power to withhold refund in certain cases.
242	Correctness of Assessment not to be Questioned.
243	Interest on Delayed Refunds.
244	Interest on Refund where no claim is needed.
244A	Interest on Refunds.
245	Set off of Refunds Against Tax Remaining Payable.
245A	Definitions.
245B	Income-Tax Settlement Commission.
245BA	Jurisdiction and Powers of settlement commission.
245BB	Vice-Chairman to Act as Chairman or to discharge his functions in certain circumstances.
245BC	Power of Chairman to Transfer cases from one bench to another.
245BD	Decision to be by Majority.
245C	Application for settlement of cases.
245D	Procedure on receipt of an application under section 245C.
245DD	Power of settlement commission to order provisional attachment to protect revenue.
245E	Power of settlement commission to reopen completed proceedings.
245F	Powers and Procedure of settlement commission.
245G	Inspection, Etc., of Reports.
245H	Power of settlement commission to grant immunity from Prosecution and Penalty.
245HA	Power of settlement commission to send a case back to the assessing oficer if the assessee does not Co-Operate.
245I	Order of settlement to be conclusive.
245J	Recovery of sums due under order of settlement.
245K	Bar on Subsequent Application for settlement in certain cases.
245L	Proceedings before settlement commission to be judicial proceedings.
245M	Omitted.
245N	Definitions.
245-O	Authority for Advance Rulings.
245P	Vacancies, Etc., not to invalidate proceedings.
245Q	Application for Advance Ruling.
245R	Procedure on Receipt of Application.
245RR	Appellate Authority not to proceed in certain cases.
245S	Applicability of Advance Ruling.
245T	Advance Ruling to be void in certain circumstances.
245U	Powers of the Authority.
245V	Procedure of Authority.
246	Appealable Orders.
246A	Appealable orders before Commissioner (Appeals).
247	Omitted.
248	Appeal by Person denying liability to deduct Tax.
249	Form of Appeal and Limitation.
250	Procedure in Appeal.
251	Powers of the Commissioner (Appeals).
252	Appellate Tribunal.
253	Appeals to the Appellate Tribunal.
254	Orders of Appellate Tribunal.
255	Procedure of Appellate Tribunal.
256	Statement of case to the High Court.
257	Statement of case to supreme Court in certain cases.
258	Power of High Court or Supreme Court to Require Statement to be Amended.
259	Case before High Court to be heard by not less than two judges.
260	Decision of High Court or Supreme Court on the case stated.
260A	Appeal to High Court.
260B	Case before High Court to be heard by not less than two judges.
261	Appeal to Supreme Court.
262	Hearing before Supreme Court.
263	Revision of orders prejudicial to revenue.
264	Revision of other orders.
265	Tax to be paid notwithstanding reference, etc.
266	Execution for costs awarded by the Supreme Court.
267	Amendment of Assessment on Appeal.
268	Exclusion of time taken for copy.
269	Definition of “High Court”.
269A	Definitions.
269AB	Registration of Certain Transactions.
269B	Competent Authority.
269C	Immovable property in respect of which proceedings for Acquisition may be taken.
269D	Preliminary Notice.
269E	Objections.
269F	Hearing of Objections.
269G	Appeal Against order for Acquisition.
269H	Appeal to High Court.
269I	Vesting of property in Central Government.
269J	Compensation.
269K	Payment or Deposit of Compensation.
269L	Assistance by Valuation Officers.
269M	Powers of Competent Authority.
269N	Rectification of Mistakes.
269-O	Appearance by Authorised Representative or Registered Valuer.
269P	Statement to be furnished in respect of transfers of immovable property.
269Q	Chapter not to apply to transfers to relatives.
269R	Properties liable for Acquisition under this Chapter not to be Acquired under other Laws.
269RR	Chapter not to apply where transfer of immovable property made after a certain date.
269S	Chapter not to extend to state of Jammu and Kashmir.
269SS	Mode of taking or accepting certain loans and deposits.
269T	Mode of Repayment of certain deposits.
269TT	Mode of Repayment of Special Bearer Bonds, 1991.
269U	Commencement of Chapter.
269UA	Definitions.
269UB	Appropriate Authority.
269UC	Restrictions on Transfer of Immovable Property.
269UD	Order by Appropriate Authority for Purchase by Central Government of Immovable property.
269UE	Vesting of property in Central Government.
269UF	Consideration for purchase of Immovable property by Central Government.
269UG	Payment or Deposit of Consideration.
269UH	Re-Vesting of property in the transferor on failure of payment or deposit of consideration.
269UI	Powers of the Appropriate Authority.
269UJ	Rectification of Mistakes.
269UK	Restrictions on Revocation or Alteration of certain agreements for the transfer of immovable property or on transfer of certain immovable property.
269UL	Restrictions on Registration, Etc., of Documents in respect of transfer of Immovable property.
269UM	Immunity to Transferor against claims of transferee for transfer.
269UN	Order of Appropriate Authority to be final and conclusive.
269UO	Chapter not to apply to certain transfers.
270	Omitted.
271	Failure to furnish returns, comply with notices, Concealment of Income, etc.
271A	Failure to keep, maintain or retain books of account, documents, etc.
271B	Failure to get accounts audited.
271BB	Failure to subscribe to the eligible issue of capital.
271C	Penalty for Failure to Deduct Tax at Source.
271D	Penalty for Failure to Comply with the provisions of section 269SS.
271E	Penalty for Failure to Comply with the provisions of section 269T.
271F	Penalty for Failure to furnish return of Income.
272	Omitted.
272A	Penalty for failure to Answer Questions, Sign Statements, Furnish Information, Returns or Statements, Allow Inspections, etc.
272AA	Penalty for Failure to comply with the provisions of section 133B.
272B	Omitted.
272BB	Penalty for Failure to comply with the provisions of section 203A.
273	False Estimate of, or Failure to Pay, Advance Tax.
273A	Power to reduce or waive penalty, etc., in certain cases.
273B	Penalty not to be imposed in certain cases.
274	Procedure.
275	Bar of Limitation for Imposing Penalties.
275A	Contravention of order made under Sub-Section (3) of Section 132.
276	Removal, Concealment, Transfer or Delivery of property to thwart Tax recovery.
276A	Failure to comply with the provisions of Sub-Sections (1) and (3) of Section 178.
276AA	Omitted.
276AB	Failure to comply with the provisions of sections 269UC, 269UE and 269UL.
276B	Failure to pay tax to the credit of Central Government under chapter XII-D or XVII-B.
276BB	Failure to pay the Tax collected at source.
276C	Wilful Attempt to Evade Tax, Etc.
276CC	Failure to Furnish Returns of Income.
276CCC	Failure to Furnish Return of Income in Search Cases.
276D	Failure to Produce Accounts and Documents.
276DD	Omitted.
276E	Omitted.
277	False Statement in Verification, Etc.
278	Abetment of false return, etc.
278A	Punishment for Second and Subsequent Offences.
278AA	Punishment not to be imposed in certain cases.
278B	Offences by Companies.
278C	Offences by hindu Undivided Families.
278D	Presumption as to Assets, Books of Account, Etc., in certain cases.
278E	Presemption as to culpable mental state.
279	Prosecution to be at Instance of Chief Commissioner or Commissioner.
279A	Certain Offences to be Non-Cognizable.
279B	Proof of Entries in records or documents.
280	Disclosure of Particulars by Public Servants.
280A-280X	Omitted.
280Y	Omitted.
280Z	Omitted.
280ZA	Omitted.
280ZB	Omitted.
280ZC	Omitted.
280ZD	Omitted.
280ZE	Omitted.
281	Certain Transfers to be void.
281A	Repealed by the Benami Transactions (Prohibition) Act, 1988.
281B	Provisional attachment to protect revenue in certain cases.
282	Service of notice Generally.
283	Service of notice when family is disrupted or firm, etc., is dissolved.
284	Service of notice in the case of discontinued business.
285	Omitted.
285A	Omitted.
285B	Submission of Statements by Producers of Cinematograph Films.
286	Omitted
287	Publication of Information respecting assessees in certain cases.
287A	Appearance by Registered valuer in certain matters.
288	Appearance by Authorised Representative.
288A	Rounding off of Income.
288B	Rounding off of Tax, etc.
289	Receipt to be given.
290	Indemnity.
291	Power to tender immunity from prosecution.
292	Cognizance of offences.
292A	Section 360 of the code of criminal procedure, 1973, and the probation of Offenders Act, 1958, Not to Apply.
292B	Return of Income, Etc., nto to be invalid on certain grounds.
293	Bar of Suits in Civil Courts.
293A	Power to make exemption, etc., in relation to participation in the business prospecting for, extraction, etc., of mineral oils.
293B	Power of Central Government or Board to condone delays in obtaining approval.
294	294 Act to have effect peinding legislative provision for charge of Tax.
294A	Power to make exemption, etc., in relation to certain union territories.
295	Power to make rules.
296	Rules and certain notifications to be placed before parliament.
297	Repeals and Savings.
298	Power to remove difficulties.
SCHEDULES
Schedule 1
Part A
1	A Life Insurance Business profits of Life Insurance Business to be Computed Separately.
2	Insurance Business A Life Insurance Business Computation of profits of Life Insurance Business.
3	Omitted.
4	Adjustment of Tax paid by deduction at source.
Part B
5	Computation of profits and gains of other Insurance Business.
Part C
6	Profits and Gains of Non-Resident person.
7	Interpretation.
Schedule 2
Part 1
1	Definitions.
2	Issue of Notice.
3	When certificate may be executed.
4	Mode of Recovery.
5	Interest, Costs and Charges Recoverable.
6	Purchaser’s Title.
7	Suit against pruchaser nto maintainable on ground of purchase being made on behalf of plaintiff.
8	Disposal of Proceeds of execution.
9	General Bar to jurisdiction of Civil Court, save where fraud alleged.
10	Property exempt from attachment.
11	Investigation by Tax recovery officer.
12	Removal of attachment on satisfaction or cancellation of certificate.
13	Officer Entitled to Attach and Sell.
14	Defaulting pruchaser answerable for loss on resale.
15	Adjournment or Stoppage of sale.
16	Private Alienation to be void in certain cases.
17	Prohibition against bidding or purchase by officer.
18	Prohibition against Sale on Holidays.
19	Assistance by Police.
19A	Entrustment of certain functions by tax recovery officer.
Part II
20	Arrant.
21	Service of copy of warrant.
22	Attachment.
23	Property in defaulter’s possession.
24	Agricultural Produce.
25	Provisions as to Agricultural produce under attachment.
26	Debts and Shares, etc.
27	Attachment of Decree.
28	Share in Movable Property.
29	Salary of Government Servants.
30	Attachment of Negotiable Instrument.
31	Attachment of property in custody of Court or public officer.
32	Attachment of partnership property.
33	Inventory.
34	Attachment not to be excessive.
35	Seizure between sunrise and sunset.
36	Power to break open doors, etc.
37	Sale.
38	Issue of proclamation.
39	Proclamation How Made.
40	Sale after fifteen days.
41	Sale of Agricultural Produce.
42	Special Provisions relating to growing crops.
43	Sale to be by Auction.
44	Sale by Public Auction.
45	Irregularity not to vitiate sale, but any person injured may sue.
46	Negotiable Instruments and Shares in a Corporation.
47	Order for Payment of Coin or Currency notes to the Assessing Officer.
Part 3
48	Attachment.
49	Service of notice of attachment.
50	Proclamation of Attachment.
51	Attachment to relate back from the date of service of notice.
52	Sale and Proclamation of Sale.
53	Contents of Proclamation.
54	Made of making proclamation.
55	Time of Sale.
56	Sale to be by Auction.
57	Deposit by purchaser and resale in default.
58	Procedure in default of payment.
59	Authority to Bid.
60	Application to set aside sale of immovable property on deposit.
61	Application to set aside sale of immovable property on ground of Non-Service of notice or Irregularity.
62	Setting aside sale where defaulter has no saleable interest
63	Confirmation of Sale.
64	Return of purchase money in certain cases.
65	Sale certificate.
66	Postponement of sale to enable defaulter to raise amount due under certificate.
67	Fresh proclamation before Re-Sale.
68	Bid of Co-Sharer to have preference.
68A	Acceptance of property in satisfaction of amount due from the defaulter.
68B	Time-Limit for sale of attached immovable property.
Part 4
69	Appointment of receiver for business.
70	Appointment of receiver for immovable property.
71	Powers of receiver.
72	Withdrawal of Management.
Part 5
73	Notice to show cause.
74	Hearing.
75	Custody pending hearing.
76	Order of detention.
77	Detention in and release from prison.
78	Release.
79	Release on ground of illness.
80	Entry into dwelling house.
81	Prohibition against arrest of women or minors, etc.
Part 6
82	Officers deemed to be acting judicially.
83	Power to take evidence.
84	Continuance of certificate.
85	Procedure on death of defaulter.
86	Appeals.
87	Review.
88	Recovery from surety.
89	Omitted.
90	Subsistenace allowance.
91	Forms.
92	Power to make rules.
93	Saving Regarding Charge.
94	Continuance of certain pending proceedings and power to remove difficulties.
Schedule 3	Distraint and Sale.
Schedule 4
Part A
1	Application of part.
2	Definitions.
3	According and withdrawal of recognition.
4	Conditions to be satisfied by recognised Provident Funds.
5	Relaxation of conditions.
6	Employer’s annual contributions, when deemed to be Income received by Employee.
7	Exemption for employee’s contributions.
8	Exclusion from total Income of Accumulated balance.
9	Tax on Accumulated balance.
10	Deduction at source of Tax payable on accumulated balance.
11	Treatment of Balance in newly recognised provident fund.
12	Accounts of recognised provident funds.
13	Appeals.
14	Treatment of fund transferred by employer to trustee.
15	Provisions relating to rules.
Part B
1	Definitions.
2	Approval and Withdrawal of approval.
3	Conditions for approval.
4	Application for approval.
5	Contributions by employer when deemed to be Income of employer.
6	Deduction of tax on contributions paid to an employee.
7	Deduction from pay of and contributions on behalf of employee to be included in return.
8	Appeals.
9	Liability of trustees on cessation of approval.
10	Particulars to be furnished in respect of superannuation funds.
11	Provisions relating to rules.
Part C
1	Definitions.
2	Approval and withdrawal of approval.
3	Conditions from approval.
4	Application for approval.
5	Gratuity deemed to be salary.
6	Liability of trustees on cessation of approval.
7	Contributions by employer, when deemed to be Income of employer.
8	Appeals.
8A	Particulars to be Furnished in respect of Gratuity Funds.
9	Provisions relating to rules.
Schedule 5	List of Articles and Things.
Schedule 6	Omitted.
Schedule 7
Part A	Minerals.
Part B	Groups of Associated minerals.
Schedule 8	List of Industrially backward States and Union Territories.
Schedule 9	Omitted.
Schedule 10	Modifications subject to which the provisions of this act shall apply in case where the previous year in relation to the assessment year commencing on the first april, 1989.
Schedule 11	List of Articles or Things.
Schedule 12	Processed Minerals and Ores.

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