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Income-tax Act, 2025

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1Preliminary3 sections
Chapter 1 overview
  • 1Short title, extent and commencement
  • 2Definitions
  • 3Definition of “tax year”
1

Preliminary

3 sections
  • 1Short title, extent and commencement
  • 2Definitions
  • Browse 1 more provision
2Basis of Charge7 sections
Chapter 2 overview
  • 4Charge of income-tax
  • 5Scope of total income
  • 6Residence in India
  • 7Income deemed to be received
  • 8Income on receipt of capital asset or stock-in-trade by specified person from specified entity
  • 9Income deemed to accrue or arise in India
  • 10Apportionment of income between spouses governed by Portuguese Civil Code
2

Basis of Charge

7 sections
  • 4Charge of income-tax
  • 5Scope of total income
  • Browse 5 more provisions
3Incomes Which Do Not Form Part of Total Income2 sections
Chapter 3 overview
  • 11Incomes not included in total income
  • 12Incomes not included in total income of political parties and electoral trusts
3

Incomes Which Do Not Form Part of Total Income

2 sections
  • 11Incomes not included in total income
  • 12Incomes not included in total income of political parties and electoral trusts
4Computation of Total Income83 sections
Chapter 4 overview
  • 13Heads of income
  • 14Income not forming part of total income and expenditure in relation to such income
  • 15Salaries
  • 16Income from salary
  • 17Perquisite
  • 18Profits in lieu of salary
  • 19Deductions from salaries
  • 20Income from house property
  • 21Determination of annual value
  • 22Deductions from income from house property
  • 23Arrears of rent and unrealised rent received subsequently
  • 24Property owned by co-owners
  • 25Interpretation
  • 26Income under head “Profits and gains of business or profession”
  • 27Manner of computing profits and gains of business or profession
  • 28Rent, rates, taxes, repairs and insurance
  • 29Deductions related to employee welfare
  • 30Deduction on certain premium
  • 31Deduction for bad debt and provision for bad and doubtful debt
  • 32Other deductions
  • 33Deduction for depreciation
  • 34General conditions for allowable deductions
  • 35Amounts not deductible in certain circumstances
  • 36Expenses or payments not deductible in certain circumstances
  • 37Certain deductions allowed on actual payment basis only
  • 38Certain sums deemed as profits and gains of business or profession
  • 39Computation of actual cost
  • 40Special provision for computation of cost of acquisition of certain assets
  • 41Written down value of depreciable asset
  • 42Capitalising the impact of foreign exchange fluctuation
  • 43Taxation of foreign exchange fluctuation
  • 44Amortisation of certain preliminary expenses
  • 45Expenditure on scientific research
  • 46Capital expenditure of specified business
  • 47Expenditure on agricultural extension project and skill development project
  • 48Tea development account, coffee development account and rubber development account
  • 49Site Restoration Fund
  • 50Special provision in the case of trade, profession or similar association
  • 51Amortisation of expenditure for prospecting certain minerals
  • 52Amortisation of expenditure for telecommunications services, amalgamation, demerger, scheme of voluntary retirement, etc
  • 53Full value of consideration for transfer of assets other than capital assets in certain cases
  • 54Business of prospecting for mineral oils
  • 55Insurance business
  • 56Special provision in case of interest income of specified financial institutions
  • 57Revenue recognition for construction and service contracts
  • 58Special provision for computing profits and gains of business or profession on presumptive basis in case of certain residents
  • 59Chargeability of royalty and fee for technical services in hands of non-residents
  • 60Deduction of head office expenditure in case of non-residents
  • 61Special provision for computation of income on presumptive basis in respect of certain business activities of certain non-residents
  • 62Maintenance of books of account
  • 63Tax audit
  • 64Facilitating payments in electronic modes
  • 65Special provision for computing deductions in case of business reorganisation of co-operative banks
  • 66Interpretation
  • 67Capital gains
  • 68Capital gains on distribution of assets by companies in liquidation
  • 69Capital gains on purchase by company of its own shares or other specified securities
  • 70Transactions not regarded as transfer
  • 71Withdrawal of exemption in certain cases
  • 72Mode of computation of capital gains
  • 73Cost with reference to certain modes of acquisition
  • 74Special provision for computation of capital gains in case of depreciable assets
  • 75Special provision for cost of acquisition in case of depreciable asset
  • 76Special provision for computation of capital gains in case of Market Linked Debenture
  • 77Special provision for computation of capital gains in case of slump sale
  • 78Special provision for full value of consideration in certain cases
  • 79Special provision for full value of consideration for transfer of share other than quoted share
  • 80Fair market value deemed to be full value of consideration in certain cases
  • 81Advance money received
  • 82Profit on sale of property used for residence
  • 83Capital gains on transfer of land used for agricultural purposes not to be charged in certain cases
  • 84Capital gains on compulsory acquisition of lands and buildings not to be charged in certain cases
  • 85Capital gains not to be charged on investment in certain bonds
  • 86Capital gains on transfer of certain capital assets not to be charged in case of investment in residential house
  • 87Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area
  • 88Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone
  • 89Extension of time for acquiring new asset or depositing or investing amount of capital gains
  • 90Meaning of “adjusted”, “cost of improvement” and “cost of acquisition”
  • 91Reference to Valuation Officer
  • 92Income from other sources
  • 93Deductions
  • 94Amounts not deductible
  • 95Profits chargeable to tax
4

Computation of Total Income

83 sections
  • 13Heads of income
  • 14Income not forming part of total income and expenditure in relation to such income
  • Browse 81 more provisions
5Income of Other Persons, Included in Total Income of Assessee5 sections
Chapter 5 overview
  • 96Transfer of income without transfer of assets
  • 97Chargeability of income in transfer of assets
  • 98“Transfer” and “revocable transfer” defined
  • 99Income of individual to include income of spouse, minor child, etc
  • 100Liability of person in respect of income included in income of another person
5

Income of Other Persons, Included in Total Income of Assessee

5 sections
  • 96Transfer of income without transfer of assets
  • 97Chargeability of income in transfer of assets
  • Browse 3 more provisions
6Aggregation of Income7 sections
Chapter 6 overview
  • 101Total income
  • 102Unexplained credits
  • 103Unexplained investment
  • 104Unexplained asset
  • 105Unexplained expenditure
  • 106Amount borrowed or repaid through negotiable instrument, hundi, etc
  • 107Charge of tax
6

Aggregation of Income

7 sections
  • 101Total income
  • 102Unexplained credits
  • Browse 5 more provisions
7Set Off, Or Carry Forward and Set Off of Losses14 sections
Chapter 7 overview
  • 108Set off of losses under the same head of income
  • 109Set off of losses under any other head of income
  • 110Carry forward and set off of loss from house property
  • 111Carry forward and set off of loss from capital gains
  • 112Carry forward and set off of business loss
  • 113Set off and carry forward of losses from speculation business
  • 114Set off and carry forward of losses from specified business
  • 115Set off and carry forward of losses from specified activity
  • 116Treatment of accumulated losses and unabsorbed depreciation in amalgamation or demerger, etc
  • 117Treatment of accumulated losses and unabsorbed depreciation in scheme of amalgamation in certain cases
  • 118Carry forward and set off of losses and unabsorbed depreciation in business reorganisation of co-operative banks
  • 119Carry forward and set off of losses not permissible in certain cases
  • 120No set off of losses against undisclosed income consequent to search, requisition and survey
  • 121Submission of return for losses
7

Set Off, Or Carry Forward and Set Off of Losses

14 sections
  • 108Set off of losses under the same head of income
  • 109Set off of losses under any other head of income
  • Browse 12 more provisions
8Deductions to Be Made in Computing Total Income33 sections
Chapter 8 overview
  • 122Deductions to be made in computing total income
  • 123Deduction for life insurance premia, deferred annuity, contributions to provident fund, etc
  • 124Deduction in respect of employer contribution to pension scheme of Central Government
  • 125Deduction in respect of contribution to Agnipath Scheme
  • 126Deduction in respect of health insurance premia
  • 127Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability
  • 128Deduction in respect of medical treatment, etc
  • 129Deduction in respect of interest on loan taken for higher education
  • 130Deduction in respect of interest on loan taken for residential house property
  • 131Deduction in respect of interest on loan taken for certain house property
  • 132Deduction in respect of purchase of electric vehicle
  • 133Deduction in respect of donations to certain funds, charitable institutions, etc
  • 134Deductions in respect of rents paid
  • 135Deduction in respect of certain donations for scientific research or rural development
  • 136Deduction in respect of contributions given by companies to political parties
  • 137Deduction in respect of contributions given by any person to political parties
  • 138Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc
  • 139Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone
  • 140Special provision in respect of specified business
  • 141Deduction in respect of profits and gains from certain industrial undertakings
  • 142Deductions in respect of profits and gains from housing projects
  • 143Special provisions in respect of certain undertakings in North-Eastern States
  • 144Special provisions in respect of newly established Units in Special Economic Zones
  • 145Deduction for businesses engaged in collecting and processing of bio-degradable waste
  • 146Deduction in respect of additional employee cost
  • 147Deductions for income of Offshore Banking Units and Units of International Financial Services Centre
  • 148Deduction in respect of certain inter-corporate dividends
  • 149Deduction in respect of income of co-operative societies
  • 150Deduction in respect of certain income of Producer Companies
  • 151Deduction in respect of royalty income, etc., of authors of certain books other than text-books
  • 152Deduction in respect of royalty on patents
  • 153Deduction for interest on deposits
  • 154Deduction in case of a person with disability
8

Deductions to Be Made in Computing Total Income

33 sections
  • 122Deductions to be made in computing total income
  • 123Deduction for life insurance premia, deferred annuity, contributions to provident fund, etc
  • Browse 31 more provisions
9Rebates and Reliefs6 sections
Chapter 9 overview
  • 155Rebate to be allowed in computing income-tax
  • 156Rebate of income-tax in case of certain individuals
  • 157Relief when salary, etc., is paid in arrears or in advance
  • 158Relief from taxation in income from retirement benefit account maintained in a notified country
  • 159Agreement with foreign countries or specified territories and adoption by Central Government of agreement between specified associations for double taxation relief
  • 160Countries with which no agreement exists
9

Rebates and Reliefs

6 sections
  • 155Rebate to be allowed in computing income-tax
  • 156Rebate of income-tax in case of certain individuals
  • Browse 4 more provisions
10Special Provisions Relating to Avoidance of Tax17 sections
Chapter 10 overview
  • 161Computation of income from international transaction and specified domestic transaction having regard to arm’s length price
  • 162Meaning of associated enterprise
  • 163Meaning of international transaction
  • 164Meaning of specified domestic transaction
  • 165Determination of arm’s length price
  • 166Reference to Transfer Pricing Officer
  • 167Power of Board to make safe harbour rules
  • 168Advance pricing agreement
  • 169Effect to advance pricing agreement
  • 170Secondary adjustment in certain cases
  • 171Maintenance, keeping and furnishing of information and document by certain persons
  • 172Report from an accountant to be furnished by persons entering into international transaction or specified domestic transaction
  • 173Definitions of certain terms relevant to determination of arm’s length price, etc
  • 174Avoidance of income-tax by transactions resulting in transfer of income to non-residents
  • 175Avoidance of tax by certain transactions in securities
  • 176Special measures in respect of transactions with persons located in notified jurisdictional area
  • 177Limitation on interest deduction in certain cases
10

Special Provisions Relating to Avoidance of Tax

17 sections
  • 161Computation of income from international transaction and specified domestic transaction having regard to arm’s length price
  • 162Meaning of associated enterprise
  • Browse 15 more provisions
11General Anti-Avoidance Rule7 sections
Chapter 11 overview
  • 178Applicability of General Anti-Avoidance Rule
  • 179Impermissible avoidance arrangement
  • 180Arrangement to lack commercial substance
  • 181Consequences of impermissible avoidance arrangement
  • 182Treatment of connected person and accommodating party
  • 183Application of this Chapter
  • 184Interpretation
11

General Anti-Avoidance Rule

7 sections
  • 178Applicability of General Anti-Avoidance Rule
  • 179Impermissible avoidance arrangement
  • Browse 5 more provisions
12Mode of Payment in Certain Cases, Etc5 sections
Chapter 12 overview
  • 185Mode of taking or accepting certain loans, deposits and specified sum
  • 186Mode of undertaking transactions
  • 187Acceptance of payment through prescribed electronic modes
  • 188Mode of repayment of certain loans or deposits
  • 189Interpretation
12

Mode of Payment in Certain Cases, Etc

5 sections
  • 185Mode of taking or accepting certain loans, deposits and specified sum
  • 186Mode of undertaking transactions
  • Browse 3 more provisions
13Determination of Tax in Special Cases46 sections
Chapter 13 overview
  • 190Determination of tax where total income includes income on which no tax is payable
  • 191Tax on accumulated balance of recognised provident fund
  • 192Tax in case of block assessment of search cases
  • 193Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer
  • 194Tax on certain incomes
  • 195Tax on income referred to in section 102 or 103 or 104 or 105 or 106
  • 196Tax on short-term capital gains in certain cases
  • 197Tax on long-term capital gains
  • 198Tax on long-term capital gains in certain cases
  • 199Tax on income of certain manufacturing domestic companies
  • 200Tax on income of certain domestic companies
  • 201Tax on income of new manufacturing domestic companies
  • 202New tax regime for individuals, Hindu undivided family and others
  • 203Tax on income of certain resident co-operative societies
  • 204Tax on income of certain new manufacturing co-operative societies
  • 205Conditions for tax on income of certain companies and cooperative societies
  • 206Special provision for minimum alternate tax and alternate minimum tax
  • 207Tax on dividends, royalty and technical service fees in case of foreign companies
  • 208Tax on income from units purchased in foreign currency or capital gains arising from their transfer
  • 209Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer
  • 210Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer
  • 211Tax on non-resident sportsmen or sports associations
  • 212Interpretation
  • 213Special provision for computation of total income of non-residents
  • 214Tax on investment income and long-term capital gains
  • 215Capital gains on transfer of foreign exchange assets not to be charged in certain cases
  • 216Return of income not to be furnished in certain cases
  • 217Benefit to be available in certain cases even after assessee becomes resident
  • 218Provisions not to apply if the assessee so chooses
  • 219Conversion of an Indian branch of foreign company into subsidiary Indian company
  • 220Foreign company said to be resident in India
  • 221Tax on income from securitisation trusts
  • 222Tax on income in case of venture capital undertakings
  • 223Tax on income of unit holder and business trust
  • 224Tax on income of investment fund and its unit holders
  • 225Income from the business of operating qualifying ships
  • 226Tonnage tax scheme
  • 227Computation of tonnage income
  • 228Relevant shipping income and exclusion from book profit
  • 229Depreciation and gains relating to tonnage tax assets
  • 230Exclusion of deduction, loss, set off, etc
  • 231Method of opting of tonnage tax scheme and validity
  • 232Certain conditions for applicability of tonnage tax scheme
  • 233Amalgamation and demerger
  • 234Avoidance of tax and exclusion from tonnage tax scheme
  • 235Interpretation
13

Determination of Tax in Special Cases

46 sections
  • 190Determination of tax where total income includes income on which no tax is payable
  • 191Tax on accumulated balance of recognised provident fund
  • Browse 44 more provisions
14Tax Administration26 sections
Chapter 14 overview
  • 236Income-tax authorities
  • 237Appointment of income-tax authorities
  • 238Control of income-tax authorities
  • 239Instructions to subordinate authorities
  • 240Taxpayer’s Charter
  • 241Jurisdiction of income-tax authorities
  • 242Jurisdiction of Assessing Officers
  • 243Power to transfer cases
  • 244Change of incumbent of an office
  • 245Faceless jurisdiction of income-tax authorities
  • 246Power regarding discovery, production of evidence, etc
  • 247Search and seizure
  • 248Powers to requisition
  • 249Reasons not to be disclosed
  • 250Application of seized or requisitioned assets
  • 251Copying, extraction, retention and release of books of account and documents seized or requisitioned
  • 252Power to call for information
  • 253Powers of survey
  • 254Power to collect certain information
  • 255Power to inspect registers of companies
  • 256Power of competent authority
  • 257Proceedings before income-tax authorities to be judicial proceedings
  • 258Disclosure of information relating to assessees
  • 259Power to call for information by prescribed income-tax authority
  • 260Faceless collection of information
  • 261Interpretation
14

Tax Administration

26 sections
  • 236Income-tax authorities
  • 237Appointment of income-tax authorities
  • Browse 24 more provisions
15Return of Income6 sections
Chapter 15 overview
  • 262Permanent Account Number
  • 263Return of income
  • 264Scheme for submission of returns through tax return preparers
  • 265Return by whom to be verified
  • 266Self-assessment
  • 267Tax on updated return
15

Return of Income

6 sections
  • 262Permanent Account Number
  • 263Return of income
  • Browse 4 more provisions
16Procedure For Assessment34 sections
Chapter 16 overview
  • 268Inquiry before assessment
  • 269Estimation of value of assets by Valuation Officer
  • 270Assessment
  • 271Best judgment assessment
  • 272Power of Joint Commissioner to issue directions in certain cases
  • 273Faceless Assessment
  • 274Reference to Principal Commissioner or Commissioner in certain cases
  • 275Reference to Dispute Resolution Panel
  • 276Method of accounting
  • 277Method of accounting in certain cases
  • 278Taxability of certain income
  • 279Income escaping assessment
  • 280Issue of notice
  • 281Procedure before issuance of notice under section 280
  • 282Time limit for notices under sections 280 and 281
  • 283Provision for cases where assessment is in pursuance of an order on appeal, etc
  • 284Sanction for issue of notice
  • 285Other provisions
  • 286Time limit for completion of assessment, reassessment and recomputation
  • 287Rectification of mistake
  • 288Other amendments
  • 289Notice of demand
  • 290Modification and revision of notice in certain cases
  • 291Intimation of loss
  • 292Assessment of income pertaining to the block period
  • 293Computation of total income of block period
  • 294Procedure for block assessment
  • 295Undisclosed income of any other person
  • 296Time-limit for completion of block assessment
  • 297Certain interests and penalties not to be levied or imposed
  • 298Levy of interest and penalty in certain cases
  • 299Authority competent to make assessment of block period
  • 300Application of other provisions of Act
  • 301Interpretation
16

Procedure For Assessment

34 sections
  • 268Inquiry before assessment
  • 269Estimation of value of assets by Valuation Officer
  • Browse 32 more provisions
17Special Provisions Relating to Certain Persons54 sections
Chapter 17 overview
  • 302Legal representative
  • 303Representative assessee
  • 304Liability of representative assessee
  • 305Right of representative assessee to recover tax paid
  • 306Who may be regarded as agent
  • 307Charge of tax where share of beneficiaries unknown
  • 308Charge of tax in case of oral trust
  • 309Method of computing a member's share in income of association of persons or body of individuals
  • 310Share of member of an association of persons or body of individuals in income of association or body
  • 311Charge of tax where shares of members in association of persons or body of individuals unknown, etc
  • 312Executor
  • 313Succession to business or profession otherwise than on death
  • 314Effect of order of tribunal or court in respect of business reorganisation
  • 315Assessment after partition of a Hindu undivided family
  • 316Shipping business of non-residents
  • 317Assessment of persons leaving India
  • 318Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose
  • 319Assessment of persons likely to transfer property to avoid tax
  • 320Discontinued business
  • 321Association dissolved or business discontinued
  • 322Company in liquidation
  • 323Liability of directors of private company
  • 324Charge of tax in case of a firm
  • 325Assessment as a Firm
  • 326Assessment when section 325 not complied with
  • 327Change in constitution of a firm
  • 328Succession of one firm by another firm
  • 329Joint and several liability of partners for tax payable by firm
  • 330Firm dissolved or business discontinued
  • 331Liability of partners of limited liability partnership in liquidation
  • 332Application for registration
  • 333Switching over of regimes
  • 334Tax on income of registered non-profit organisation
  • 335Regular income
  • 336Taxable regular income
  • 337Specified income
  • 338Income not to be included in regular income
  • 339Corpus donation
  • 340Deemed corpus donation
  • 341Application of income
  • 342Accumulated income
  • 343Deemed accumulated income
  • 344Business undertaking held as property
  • 345Restriction on commercial activities by a registered non-profit organisation
  • 346Restriction on commercial activities by registered non-profit organisation carrying out advancement of any other object of general public utility
  • 347Books of account
  • 348Audit
  • 349Return of income
  • 350Permitted modes of investment
  • 351Specified violation
  • 352Tax on accreted income
  • 353Other violations
  • 354Application for approval for purpose of section 133(1)(b)(ii)
  • 355Interpretation
17

Special Provisions Relating to Certain Persons

54 sections
  • 302Legal representative
  • 303Representative assessee
  • Browse 52 more provisions
18Appeals, Revision and Alternate Dispute Resolutions34 sections
Chapter 18 overview
  • 356Appealable orders before Joint Commissioner (Appeals)
  • 357Appealable orders before Commissioner (Appeals)
  • 358Form of appeal and limitation
  • 359Procedure in appeal
  • 360Powers of Joint Commissioner (Appeals) or Commissioner (Appeals)
  • 361Appellate Tribunal
  • 362Appeals to Appellate Tribunal
  • 363Orders of Appellate Tribunal
  • 364Procedure of Appellate Tribunal
  • 365Appeal to High Court
  • 366Case before High Court to be heard by not less than two Judges
  • 367Appeal to Supreme Court
  • 368Hearing before Supreme Court
  • 369Tax to be paid irrespective of appeal, etc
  • 370Execution for costs awarded by Supreme Court
  • 371Amendment of assessment on appeal
  • 372Exclusion of time taken for copy
  • 373Filing of appeal by income-tax authority
  • 374Interpretation of “High Court”
  • 375Procedure when assessee claims identical question of law is pending before High Court or Supreme Court
  • 376Procedure where an identical question of law is pending before High Courts or Supreme Court
  • 377Revision of orders prejudicial to revenue
  • 378Revision of other orders
  • 379Dispute Resolution Committee
  • 380Interpretation
  • 381Board for Advance Rulings
  • 382Vacancies, etc., not to invalidate proceedings
  • 383Application for advance ruling
  • 384Procedure on receipt of application
  • 385Appellate authority not to proceed in certain cases
  • 386Advance ruling to be void in certain circumstances
  • 387Powers of the Board for Advance Rulings
  • 388Procedure of Board for Advance Rulings
  • 389Appeal
18

Appeals, Revision and Alternate Dispute Resolutions

34 sections
  • 356Appealable orders before Joint Commissioner (Appeals)
  • 357Appealable orders before Commissioner (Appeals)
  • Browse 32 more provisions
19Collection and Recovery of Tax41 sections
Chapter 19 overview
  • 390Deduction or collection at source and advance payment
  • 391Direct payment
  • 392Salary and accumulated balance due to an employee
  • 393Tax to be deducted at source
  • 394Collection of tax at source
  • 395Certificates
  • 396Tax deducted is income received
  • 397Compliance and reporting
  • 398Consequences of failure to deduct or pay or, collect or pay
  • 399Processing
  • 400Power of Central Government to relax provisions of this Chapter
  • 401Bar against direct demand on assessee
  • 402Interpretation
  • 403Liability for payment of advance tax
  • 404Conditions of liability to pay advance tax
  • 405Computation of advance tax
  • 406Payment of advance tax by assessee on his own accord
  • 407Payment of advance tax by assessee in pursuance of order of Assessing Officer
  • 408Instalments of advance tax and due dates
  • 409When assessee is deemed to be in default
  • 410Credit for advance tax
  • 411When tax payable and when assessee deemed in default
  • 412Penalty payable when tax in default
  • 413Certificate by Tax Recovery Officer and Validity thereof
  • 414Tax Recovery Officer by whom recovery is to be effected
  • 415Stay of proceedings in pursuance of certificate and amendment or cancellation thereof
  • 416Other modes of recovery
  • 417Recovery through State Government
  • 418Recovery of tax in pursuance of agreements with foreign countries
  • 419Recovery of penalties, fine, interest and other sums
  • 420Tax clearance certificate
  • 421Recovery by suit or under other law not affected
  • 422Recovery of tax arrear in respect of non-resident from his assets
  • 423Interest for defaults in furnishing return of income
  • 424Interest for defaults in payment of advance tax
  • 425Interest for deferment of advance tax
  • 426Interest on excess refund
  • 427Fee for default in furnishing statements
  • 428Fee for default in furnishing return of income
  • 429Fee for default relating to statement or certificate
  • 430Fee for default relating to intimation of aadhaar number
19

Collection and Recovery of Tax

41 sections
  • 390Deduction or collection at source and advance payment
  • 391Direct payment
  • Browse 39 more provisions
20Refunds8 sections
Chapter 20 overview
  • 431Refunds
  • 432Person entitled to claim refund in certain special cases
  • 433Form of claim for refund and limitation
  • 434Refund for denying liability to deduct tax in certain cases
  • 435Refund on appeal, etc
  • 436Correctness of assessment not to be questioned
  • 437Interest on refunds
  • 438Set off and withholding of refunds in certain cases
20

Refunds

8 sections
  • 431Refunds
  • 432Person entitled to claim refund in certain special cases
  • Browse 6 more provisions
21Penalties34 sections
Chapter 21 overview
  • 439Penalty for under-reporting and misreporting of income
  • 440Immunity from imposition of penalty, etc
  • 441Failure to keep, maintain or retain books of account, documents, etc
  • 442Penalty for failure to keep and maintain information and document, etc., in respect of certain transactions
  • 443Penalty in respect of certain income
  • 444Penalty for false entry, etc., in books of account
  • 445Benefits to related persons
  • 446Failure to get accounts audited
  • 447Penalty for failure to furnish report under section 172
  • 448Penalty for failure to deduct tax at source
  • 449Penalty for failure to collect tax at source
  • 450Penalty for failure to comply with the provisions of section 185
  • 451Penalty for failure to comply with provisions of section 186
  • 452Penalty for failure to comply with provisions of section 187
  • 453Penalty for failure to comply with provisions of section 188
  • 454Penalty for failure to furnish statement of financial transaction or reportable account
  • 455Penalty for furnishing inaccurate statement of financial transaction or reportable account
  • 456Penalty for failure to furnish statement or information or document by an eligible investment fund
  • 457Penalty for failure to furnish information or document under section 171
  • 458Penalty for failure to furnish information or document under section 506
  • 459Penalty for failure to furnish report or for furnishing inaccurate report under section 511
  • 460Penalty for failure to submit statement under section 505
  • 461Penalty for failure to furnish statements, etc
  • 462Penalty for failure to furnish information or furnishing inaccurate information under section 397(3)(d)
  • 463Penalty for furnishing incorrect information in reports or certificates
  • 464Penalty for failure to furnish statements, etc
  • 465Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc
  • 466Penalty for failure to comply with the provisions of section 254
  • 467Penalty for failure to comply with the provisions of section 262
  • 468Penalty for failure to comply with the provisions of section 397(1)
  • 469Power to reduce or waive penalty, etc., in certain cases
  • 470Penalty not to be imposed in certain cases
  • 471Procedure
  • 472Bar of limitation for imposing penalties
21

Penalties

34 sections
  • 439Penalty for under-reporting and misreporting of income
  • 440Immunity from imposition of penalty, etc
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22Offences and Prosecution26 sections
Chapter 22 overview
  • 473Contravention of order made under section 247
  • 474Failure to comply with section 247(1)(b)(ii)
  • 475Removal, concealment, transfer or delivery of property to prevent tax recovery
  • 476Failure to pay tax to credit of Central Government under Chapter XIX-B
  • 477Failure to pay tax collected at source
  • 478Wilful attempt to evade tax, etc
  • 479Failure to furnish returns of income
  • 480Failure to furnish return of income in search cases
  • 481Failure to produce accounts and documents
  • 482False statement in verification, etc
  • 483Falsification of books of account or document, etc
  • 484Abetment of false return, etc
  • 485Punishment for second and subsequent offences
  • 486Punishment not to be imposed in certain cases
  • 487Offences by companies
  • 488Offences by Hindu undivided family
  • 489Presumption as to assets, books of account, etc., in certain cases
  • 490Presumption as to culpable mental state
  • 491Prosecution to be at instance of Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner
  • 492Certain offences to be non-cognizable
  • 493Proof of entries in records or documents
  • 494Disclosure of particulars by public servants
  • 495Special Courts
  • 496Offences triable by Special Court
  • 497Trial of offences as summons case
  • 498Application of Bharatiya Nagarik Suraksha Sanhita, 2023 to proceedings before Special Court
22

Offences and Prosecution

26 sections
  • 473Contravention of order made under section 247
  • 474Failure to comply with section 247(1)(b)(ii)
  • Browse 24 more provisions
23Miscellaneous38 sections
Chapter 23 overview
  • 499Certain transfers to be void
  • 500Provisional attachment to protect revenue in certain cases
  • 501Service of notice, generally
  • 502Authentication of notices and other documents
  • 503Service of notice when family is disrupted or firm, etc., is dissolved
  • 504Service of notice in case of discontinued business
  • 505Submission of statement by a non-resident having liaison office
  • 506Furnishing of information or documents by an Indian concern in certain cases
  • 507Submission of statements by producers of cinematograph films or persons engaged in specified activity
  • 508Obligation to furnish statement of financial transaction or reportable account
  • 509Obligation to furnish information on transaction of crypto-asset
  • 510Annual information statement
  • 511Furnishing of report in respect of international group
  • 512Publication of information respecting assessees in certain cases
  • 513Appearance by registered valuer in certain matters
  • 514Registration of Valuers
  • 515Appearance by authorised representative
  • 516Rounding off of amount of total income, or tax payable or refundable
  • 517Receipt to be given
  • 518Indemnity
  • 519Power to tender immunity from prosecution
  • 520Cognizance of offences
  • 521Probation of Offenders Act, 1958 and section 401 of Bharatiya Nagarik Suraksha Sanhita, 2023, not to apply
  • 522Return of income, etc., not to be invalid on certain grounds
  • 523Notice deemed to be valid in certain circumstances
  • 524Presumption as to assets, books of account, etc
  • 525Authorisation and assessment in case of search or requisition
  • 526Bar of suits in civil courts
  • 527Power to make exemption, etc., in relation to participation in business of prospecting for, extraction, etc., of mineral oils
  • 528Power of Central Government or Board to condone delays in obtaining approval
  • 529Power to withdraw approval
  • 530Act to have effect pending legislative provision for charge of tax
  • 531Power to rescind exemption in relation to certain Union territories already granted under section 294A of the Income-tax Act, 1961
  • 532Power to frame Schemes
  • 533Power to make rules
  • 534Laying before Parliament
  • 535Removal of difficulties
  • 536Repeal and savings. SCHEDULE I SCHEDULE II SCHEDULE III SCHEDULE IV SCHEDULE V SCHEDULE VI SCHEDULE VII SCHEDULE VIII SCHEDULE IX SCHEDULE X SCHEDULE XI SCHEDULE XII SCHEDULE XIII SCHEDULE XIV SCHEDULE XV SCHEDULE XVI
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Miscellaneous

38 sections
  • 499Certain transfers to be void
  • 500Provisional attachment to protect revenue in certain cases
  • Browse 36 more provisions