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Indian income-tax law | Updated 11 October 2026

Income-tax Act, 1961: Section-wise Guide, Exemptions, Deductions and Capital Gains

A structured reference to the Income-tax Act, 1961 (Act 43 of 1961), including its section-wise provisions and the transition to the Income-tax Act, 2025, effective from 1 April 2026.

Important change: The Income-tax Act, 2025 (Act 30 of 2025) came into force on 1 April 2026 and repealed the 1961 Act, subject to savings and transitional rules. The 1961 Act remains relevant to earlier tax years and related proceedings. Do not apply historical section numbers automatically to income earned from 1 April 2026 onward.

Which Income-tax Act applies?

For income earned up to 31 March 2026, the Income-tax Act, 1961 continues to govern the relevant earlier period under the saving provisions. For income earned in Tax Year 2026-27 and later, the Income-tax Act, 2025 generally applies. Section 536 of the 2025 Act provides for repeal and savings, including proceedings concerning earlier years. For example, returns for FY 2025-26 (AY 2026-27) remain governed by the 1961 Act.

The 2025 Act uses the term tax year in place of the earlier terminology of previous year and assessment year for new tax years. Section 202 of the 2025 Act contains the default tax regime for specified taxpayers, replacing the earlier framework under section 115BAC of the 1961 Act. Section 263 covers return filing; sections 392 and 393 address tax deduction at source. These are examples, not a complete cross-reference.

Key definitions and topics under the 1961 Act

Many historical deductions, incentives and exemptions were time-limited, amended, omitted or restricted. The linked pages below are preserved as a historical section index, not a statement that every listed provision remains available today.

Official Acts and transition resources

Income-tax Act, 1961: Historical Section Index

The original internal links are retained for research into provisions applying to past years. Consult the legislation as it stood for the relevant year and the official comparison utility before relying on any section.

Browse the section index

Definitions and charge (9 historical section pages)

Section 2 DefinitionsSection 3 Previous year definedSection 4 Charge of income-taxSection 5 Scope of total incomeSection 5A Apportionment of income between spouses governed by Portuguese Civil CodeSection 6 Residence in IndiaSection 7 Income deemed to be receivedSection 8 Dividend incomeSection 9 Income deemed to accrue or arise in India

Exempt income and trusts (12 historical section pages)

Section 10 Incomes not included in total incomeSection 10A Special provision in respect of newly established undertakings in free trade zone, etcSection 10AA Special provisions in respect of newly established Units in Special Economic ZonesSection 10B Special provisions in respect of newly established hundred per cent. export-oriented undertakingsSection 10BA Special provisions in respect of export of certain articles or thingsSection 10BB Meaning of computer programmes in certain casesSection 10C Special provision in respect of certain industrial undertakings in North-Eastern RegionSection 11 Income from property held for charitable or religious purposesSection 12 Income of trusts or institutions from contributionsSection 12A Conditions for applicability of sections 11 and 12Section 12AA Procedure for registrationSection 13 Section 11 not to apply in certain cases

Income heads and computation (109 historical section pages)

Section 13B Special provisions relating to voluntary contributions received by electoral trustSection 14 Heads of incomeSection 14A Expenditure incurred in relation to income not includible in total incomeSection 15 SalariesSection 16 Deductions from salariesSection 17 Salary, perquisite and profits in lieu of salary definedSection 22 Income from house propertySection 23 Annual value how determinedSection 24 Deductions from income from house propertySection 25 Amounts not deductible from income from house propertySection 25A Special provision for arrears of rent and unrealised rent received subsequentlySection 26 Property owned by co-ownersSection 27 Owner of house property, annual charge, etc., definedSection 28 Profits and gains of business or professionSection 29 Income from profits and gains of business or profession, how computedSection 30 Rent, rates, taxes, repairs and insurance for buildingsSection 31 Repairs and insurance of machinery, plant and furnitureSection 32 DepreciationSection 32A Investment allowanceSection 32AB Investment deposit accountSection 32AC Investment in new plant or machinerySection 32AD Investment in new plant or machinery in notified backward areas in certain StatesSection 33 Development rebateSection 33A Development allowanceSection 33AB Tea development account, coffee development account and rubber development accountSection 33ABA Site Restoration FundSection 33AC Reserves for shipping businessSection 33B Rehabilitation allowanceSection 34 Conditions for depreciation allowance and development rebateSection 34A Restriction on unabsorbed depreciation and unabsorbed investment allowance for limited period in case of certain domestic companiesSection 35 Expenditure on scientific researchSection 35A Expenditure on acquisition of patent rights or copyrightsSection 35AB Expenditure on know-howSection 35ABA Expenditure for obtaining right to use spectrum for telecommunication servicesSection 35ABB Expenditure for obtaining licence to operate telecommunication servicesSection 35AC Expenditure on eligible projects or schemesSection 35AD Deduction in respect of expenditure on specified businessSection 35CCA Expenditure by way of payment to associations and institutions for carrying out rural development programmesSection 35CCB Expenditure by way of payment to associations and institutions for carrying out programmes of conservation of natural resourcesSection 35CCC Expenditure on agricultural extension projectSection 35CCD Expenditure on skill development projectSection 35D Amortisation of certain preliminary expensesSection 35DD Amortisation of expenditure in case of amalgamation or demergerSection 35DDA Amortisation of expenditure incurred under voluntary retirement schemeSection 35E Deduction for expenditure on prospecting, etc., for certain mineralsSection 36 Other deductionsSection 37 GeneralSection 38 Building, etc., partly used for business, etc., or not exclusively so usedSection 40 Amounts not deductibleSection 40A Expenses or payments not deductible in certain circumstancesSection 41 Profits chargeable to taxSection 42 Special provision for deductions in the case of business for prospecting, etc., for mineral oilSection 43 Definitions of certain terms relevant to income from profits and gains of business or professionSection 43A Special provisions consequential to changes in rate of exchange of currencySection 43AA Taxation of foreign exchange fluctuationSection 43B Certain deductions to be only on actual paymentSection 43C Special provision for computation of cost of acquisition of certain assetsSection 43CA Special provision for full value of consideration for transfer of assets other than capital assets in certain casesSection 43CB Computation of income from construction and service contractsSection 43D Special provision in case of income of public financial institutions, public companies, etcSection 44 Insurance businessSection 44A Special provision for deduction in the case of trade, professional or similar associationSection 44AA Maintenance of accounts by certain persons carrying on profession or businessSection 44AB Audit of accounts of certain persons carrying on business or professionSection 44AD Special provision for computing profits and gains of business on presumptive basisSection 44ADA Special provision for computing profits and gains of profession on presumptive basisSection 44AE Special provision for computing profits and gains of business of plying, hiring or leasing goods carriagesSection 44AF Special provisions for computing profits and gains of retail businessSection 44B Special provision for computing profits and gains of shipping business in the case of nonresidentsSection 44BB Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oilsSection 44BBA Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residentsSection 44BBB Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projectsSection 44C Deduction of head office expenditure in the case of non-residentsSection 44D Special provisions for computing income by way of royalties, etc., in the case of foreign companiesSection 44DA Special provision for computing income by way of royalties, etc., in the case of non- residentsSection 44DB Special provision for computing deductions in the case of business reorganisation of co-operative banksSection 45 Capital gainsSection 46 Capital gains on distribution of assets by companies in liquidationSection 46A Capital gains on purchase by company of its own shares or other specified securitiesSection 47 Transactions not regarded as transferSection 47A Withdrawal of exemption in certain casesSection 48 Mode of computationSection 49 Cost with reference to certain modes of acquisitionSection 50 Special provision for computation of capital gains in case of depreciable assetsSection 50A Special provision for cost of acquisition in case of depreciable assetSection 50B Special provision for computation of capital gains in case of slump saleSection 50C Special provision for full value of consideration in certain casesSection 50CA Special provision for full value of consideration for transfer of share other than quoted shareSection 50D Fair market value deemed to be full value of consideration in certain casesSection 51 Advance money receivedSection 54 Profit on sale of property used for residenceSection 54B Capital gain on transfer of land used for agricultural purposes not to be charged in certain casesSection 54D Capital gain on compulsory acquisition of lands and buildings not to be charged in certain casesSection 54E Capital gain on transfer of capital assets not to be charged in certain casesSection 54EA Capital gain on transfer of long-term capital assets not to be charged in the case of investment in specified securitiesSection 54EB Capital gain on transfer of long-term capital assets not to be charged in certain casesSection 54EC Capital gain not to be charged on investment in certain bondsSection 54ED Capital gain on transfer of certain listed securities or unit not to be charged in certain casesSection 54EE Capital gain not to be charged on investment in units of a specified fundSection 54F Capital gain on transfer of certain capital assets not to be charged in case of investment in residential houseSection 54G Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban areaSection 54GA Exemption capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic ZoneSection 54GB Capital gain on transfer of residential property not to be charged in certain casesSection 55 Meaning of adjusted, cost of improvement and cost of acquisitionSection 55A Reference to Valuation OfficerSection 56 Income from other sourcesSection 57 DeductionsSection 58 Amounts not deductibleSection 59 Profits chargeable to tax

Clubbing and losses (33 historical section pages)

Section 60 Transfer of income where there is no transfer of assetsSection 61 Revocable transfer of assetsSection 62 Transfer irrevocable for a specified periodSection 63 Transfer and revocable transfer definedSection 64 Income of individual to include income of spouse, minor child, etcSection 65 Liability of person in respect of income included in the income of another personSection 66 Total incomeSection 67A Method of computing a members share in income of association of persons or body of individualsSection 68 Cash creditsSection 69 Unexplained investmentsSection 69A Unexplained money, etcSection 69B Amount of investments, etc., not fully disclosed in books of accountSection 69C Unexplained expenditure, etcSection 69D Amount borrowed or repaid on hundiSection 70 Set off of loss from one source against income from another source under the same head of incomeSection 71 Set off of loss from one head against income from anotherSection 71A Transitional provisions for set off of loss under the head Income from house propertySection 71B Carry forward and set off of loss from house propertySection 72 Carry forward and set off of business lossesSection 72A Provisions relating to carry forward and set-off of accumulated loss and unabsorbed depreciation allowance in amalgamation or demerger, etcSection 72AA Provisions relating to carry forward and set-off of accumulated loss and unabsorbed depreciation allowance in scheme of amalgamation of banking company in certain casesSection 72AB Provisions relating to carry forward and set-off of accumulated loss and unabsorbed depreciation allowance in business reorganisation of co-operative banksSection 73 Losses in speculation businessSection 73A Carry forward and set off of losses by specified businessSection 74 Losses under the head Capital gainsSection 74A Losses from certain specified sources falling under the head Income from other sourcesSection 75 Losses of firmsSection 78 Carry forward and set off of losses in case of change in constitution of firm or on successionSection 79 Carry forward and set off of losses in case of certain companiesSection 80 Submission of return for lossesSection 80-O Deduction in respect of royalties, etc., from certain foreign enterprisesSection 80-P Deduction in respect of income of co-operative societiesSection 80-PA Deduction in respect of certain income of Producer Companies

Deductions and rebates (47 historical section pages)

Section 80A Deductions to be made in computing total incomeSection 80AB Deductions to be made with reference to the income included in the gross total incomeSection 80AC Deduction not to be allowed unless return furnishedSection 80B DefinitionsSection 80C Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etcSection 80CCA Deduction in respect of deposits under National Savings Scheme or payment to a deferred annuity planSection 80CCB Deduction in respect of investment made under Equity Linked Savings SchemeSection 80CCC Deduction in respect of contribution to certain pension fundsSection 80CCD Deduction in respect of contribution to pension scheme of Central GovernmentSection 80CCE Limit on deductions under sections 80C, 80CCC and 80CCDSection 80CCF Deduction in respect of subscription to long-term infrastructure bondsSection 80CCG Deduction in respect of investment made under an equity savings schemeSection 80D Deduction in respect of health insurance premiaSection 80DD Deduction in respect of maintenance including medical treatment of a dependant who is a person with disabilitySection 80DDB Deduction in respect of medical treatment, etcSection 80E Deduction in respect of interest on loan taken for higher educationSection 80EE Deduction in respect of interest on loan taken for residential house propertySection 80G Deduction in respect of donations to certain funds, charitable institutions, etcSection 80GG Deductions in respect of rents paidSection 80GGA Deduction in respect of certain donations for scientific research or rural developmentSection 80GGB Deduction in respect of contributions given by companies to political partiesSection 80GGC Deduction in respect of contributions given by any person to political partiesSection 80HH Deduction in respect of profits and gains from newly established industrial undertakings or hotel business in backward areasSection 80HHA Deduction in respect of profits and gains from newly established small-scale industrial undertakings in certain areasSection 80HHB Deduction in respect of profits and gains from projects outside IndiaSection 80HHBA Deduction in respect of profits and gains from housing projects in certain casesSection 80HHC Deduction in respect of profits retained for export businessSection 80HHD Deduction in respect of earnings in convertible foreign exchangeSection 80HHE Deduction in respect of profits from export of computer software, etcSection 80HHF Deduction in respect of profits and gains from export or transfer of film software, etcSection 80I Deduction in respect of profits and gains from industrial undertakings after a certain date, etcSection 80IA Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etcSection 80IAB Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic ZoneSection 80IAC Special provision in respect of specified businessSection 80IB Deduction in respect of profits and gains from certain industrial undertakings other than infrastructure development undertakingsSection 80IBA Deductions in respect of profits and gains from housing projectsSection 80IC Special provisions in respect of certain undertakings or enterprises in certain special category StatesSection 80ID Deduction in respect of profits and gains from business of hotels and convention centres in specified areaSection 80IE Special provisions in respect of certain undertakings in North-Eastern StatesSection 80JJA Deduction in respect of profits and gains from business of collecting and processing of bio-degradable wasteSection 80JJAA Deduction in respect of employment of new workmenSection 80LA Deductions in respect of certain incomes of Offshore Banking Units and International Financial Services CentreSection 86 Share of member of an association of persons or body of individuals in the income of the association or bodySection 87 Rebate to be allowed in computing income-taxSection 87A Rebate of income-tax in case of certain individualsSection 88 Rebate on life insurance premia, contribution to provident fund, etcSection 89 Relief when salary, etc., is paid in arrears or in advance

Tax administration and remaining sections (539 historical section pages)

Section 80Q Deduction in respect of profits and gains from the business of publication of booksSection 80QQA Deduction in respect of professional income of authors of text books in Indian languagesSection 80QQB Deduction in respect of royalty income, etc., of authors of certain books other than text-booksSection 80R Deduction in respect of remuneration from certain foreign sources in the case of professors, teachers, etcSection 80RR Deduction in respect of professional income from foreign sources in certain casesSection 80RRA Deduction in respect of remuneration received for services rendered outside IndiaSection 80RRB Deduction in respect of royalty on patentsSection 80TTA Deduction in respect of interest on deposits in savings accountSection 80TTB Deduction in respect of interest on deposits in case of senior citizensSection 80U Deduction in case of a person with disabilitySection 88E Rebate in respect of securities transaction taxSection 90 Agreement with foreign countries or specified territoriesSection 90a Adoption by Central Government of agreement between specified associations for double taxation reliefSection 91 Countries with which no agreement existsSection 92 Computation of income from international transaction having regard to arms length priceSection 92A Meaning of associated enterpriseSection 92B Meaning of international transactionSection 92BA Meaning of specified domestic transactionSection 92C Computation of arms length priceSection 92CA Reference to Transfer Pricing OfficerSection 92CB Power of Board to make safe harbour rulesSection 92CC Advance pricing agreementSection 92CD Effect to advance pricing agreementSection 92CE Secondary adjustment in certain casesSection 92D Maintenance and keeping of information and document by persons entering into an international transaction or specified domestic transactionSection 92E Report from an accountant to be furnished by persons entering into international transaction or specified domestic transactionSection 92F Definitions of certain terms relevant to computation of arm's length price, etcSection 93 Avoidance of income-tax by transactions resulting in transfer of income to non- residentsSection 94 Avoidance of tax by certain transactions in securitiesSection 94A Special measures in respect of transactions with persons located in notified jurisdictional areaSection 94B Limitation on interest deduction in certain casesSection 95 Applicability of General Anti-Avoidance RuleSection 96 Impermissible avoidance arrangementSection 97 Arrangement to lack commercial substanceSection 98 Consequences of impermissible avoidance arrangementSection 99 Treatment of connected person and accommodating partySection 100 Application of this ChapterSection 101 Framing of guidelinesSection 102 DefinitionsSection 110 Determination of tax where total income includes income on which no tax is payableSection 111 Tax on accumulated balance of recognised provident fundSection 111A Tax on short-term capital gains in certain casesSection 112 Tax on long-term capital gainsSection 112A Tax on long-term capital gains in certain casesSection 113 Tax on long-term capital gains in certain casesSection 115A Tax on dividends, royalty and technical service fees in the case of foreign CompaniesSection 115AB Tax on income from units purchased in foreign currency or capital gains arising from their transferSection 115AC Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transferSection 115ACA Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transferSection 115AD Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transferSection 115B Tax on profits and gains of life insurance businessSection 115BA Tax on income of certain domestic companiesSection 115BB Tax on winnings from lotteries, crossword puzzles, races including horse races, card games and other games of any sort or gambling or betting of any form or nature whatsoeverSection 115BBA Tax on non-resident sportsmen or sports associationsSection 115BBB Tax on income from units of an open-ended equity oriented fund of the Unit Trust of India or of Mutual FundsSection 115BBDA Tax on certain dividends received from domestic companiesSection 115BBE Tax on income referred to in section 68 or section 69 or section 69A or section 69B or section 69C or section 69DSection 115BBF Tax on income from patentSection 115BBG Tax on income from transfer of carbon creditsSection 115C DefinitionsSection 115D Special provision for computation of total income of non-residentsSection 115E Tax on investment income and long-term capital gainsSection 115F Capital gains on transfer of foreign exchange assets not to be charged in certain casesSection 115G Return of income not to be filed in certain casesSection 115H Benefit under Chapter to be available in certain cases even after the assessee become residentSection 115I Chapter not to apply if the assessee so choosesSection 115J Special provisions relating to certain companiesSection 115JA Deemed income relating to certain companiesSection 115JAA Tax credit in respect of tax paid on deemed income relating to certain companiesSection 115JB Special provision for payment of tax by certain companiesSection 115JC Special provisions for payment of tax by certain persons other than a companySection 115JD Tax credit for alternate minimum taxSection 115JE Application of other provisions of this ActSection 115JEE Application of this Chapter to certain personsSection 115JF Interpretation in this ChapterSection 115JG Conversion of an Indian branch of foreign company into subsidiary Indian companySection 115JH Foreign company said to be resident in IndiaSection 115O Tax on distributed profits of domestic companiesSection 115P Interest payable for non-payment of tax by domestic companiesSection 115Q When company is deemed to be in defaultSection 115QA Tax on distributed income to shareholdersSection 115QB Interest payable for non-payment of tax by companySection 115QC When company is deemed to be assessee in defaultSection 115R Tax on distributed income to unit holdersSection 115S Interest payable for non-payment of taxSection 115T Unit trust of India or mutual fund to be an assessee in defaultSection 115TA Tax on distributed income to investorsSection 115TB Interest payable for non-payment of taxSection 115TC Securitisation trust to be assessee in defaultSection 115TCA Tax on income from securitization trustsSection 115TD Tax on accreted incomeSection 115TE Interest payable for non-payment of tax by trust or institutionSection 115TF When trust or institution is deemed to be assessee in defaultSection 115U Tax on income in certain casesSection 115UA Tax on income of unit holder and business trustSection 115UB Tax on income of investment fund and its unit holdersSection 115V DefinitionsSection 115VA Computation of profits and gains from the business of operating qualifying shipsSection 115VB Operating shipsSection 115VC Qualifying companySection 115VD Qualifying shipSection 115VE Manner of computation of income under tonnage tax schemeSection 115VF Tonnage incomeSection 115VG Computation of tonnage incomeSection 115VH Calculation in case of joint operation, etcSection 115VI Relevant shipping incomeSection 115VJ Treatment of common costsSection 115VK DepreciationSection 115VL General exclusion of deduction and set off, etcSection 115VM Exclusion of lossSection 115VN Chargeable gains from transfer of tonnage tax assetsSection 115VO Exclusion from provisions of section 115JBSection 115VP Method and time of opting for tonnage tax schemeSection 115VQ Period for which tonnage tax option to remain in forceSection 115VR Renewal of tonnage tax schemeSection 115VS Prohibition to opt for tonnage tax scheme in certain casesSection 115VT Transfer of profits to Tonnage Tax Reserve AccountSection 115VU Minimum training requirement for tonnage tax companySection 115VV Limit for charter in of tonnageSection 115VW Maintenance and audit of accountsSection 115VX Determination of tonnageSection 115VY AmalgamationSection 115VZ DemergerSection 115VZA Effect of temporarily ceasing to operate qualifying shipsSection 115VZB Avoidance of taxSection 115VZC Exclusion from tonnage tax schemeSection 115W DefinitionsSection 115WA Charge of fringe benefit taxSection 115WB Fringe benefitsSection 115WC Value of fringe benefitsSection 115WD Return of fringe benefitsSection 115WE AssessmentSection 115WF Best judgment assessmentSection 115WG Fringe benefits escaping assessmentSection 115WH Issue of notice where fringe benefits have escaped assessmentSection 115WI Payment of fringe benefit taxSection 115WJ Advance tax in respect of fringe benefitsSection 115WK Interest for default in furnishing return of fringe benefitsSection 115WKA Recovery of fringe benefit tax by the employer from the employeeSection 115WKB Deemed payment of tax by employeeSection 115WL Application of other provisions of this ActSection 115WM Chapter XII-H not to apply after a certain dateSection 116 Income-tax authoritiesSection 117 Appointment of income-tax authoritiesSection 118 Control of income-tax authoritiesSection 119 Instructions to subordinate authoritiesSection 120 Jurisdiction of income-tax authoritiesSection 124 Jurisdiction of Assessing OfficersSection 127 Power to transfer casesSection 129 Change of incumbent of an officeSection 131 Power regarding discovery, production of evidence, etcSection 132 Search and seizureSection 132A Powers to requisition books of account, etcSection 132B Application of seized or requisitioned assetsSection 133 Power to call for informationSection 133A Power of surveySection 133B Power to collect certain informationSection 133C Power to call for information by prescribed income-tax authoritySection 134 Power to inspect registers of companiesSection 135 Power of Principal Director General or Director General or Principal Director or Director, Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner and Joint CommissionerSection 136 Proceedings before income-tax authorities to be judicial proceedingsSection 138 Disclosure of information respecting assesseesSection 139 Return of incomeSection 139A Permanent account numberSection 139AA Quoting of Aadhaar numberSection 139B Scheme for submission of returns through Tax Return PreparersSection 139C Power of Board to dispense with furnishing documents, etc., with returnSection 139D Filing of return in electronic formSection 140 Return by whom to be verifiedSection 140A Self-assessmentSection 142 Inquiry before assessmentSection 142A Estimation of value of assets by Valuation OfficerSection 143 AssessmentSection 144 Best judgment assessmentSection 144A Power of Joint Commissioner to issue directions in certain casesSection 144BA Reference to Principal Commissioner or Commissioner in certain casesSection 144C Reference to dispute resolution panelSection 145 Method of accountingSection 145A Method of accounting in certain casesSection 147 Income escaping assessmentSection 148 Issue of notice where income has escaped assessmentSection 149 Time limit for noticeSection 150 Provision for cases where assessment is in pursuance of an order on appeal, etcSection 151 Sanction for issue of noticeSection 152 Other provisionsSection 153 Time limit for completion of assessments, reassessments and recomputationSection 153A Assessment in case of search or requisitionSection 153B Time-limit for completion of assessment under section 153ASection 153C Assessment of income of any other personSection 153D Prior approval necessary for assessment in cases of search or requisitionSection 154 Rectification of mistakeSection 155 Other amendmentsSection 156 Notice of demandSection 157 Intimation of lossSection 158 Intimation of assessment of firmSection 158A Procedure when assessee claims identical question of law is pending before High Court or Supreme CourtSection 158AA Procedure when in an appeal by revenue an identical question of law is pending before Supreme CourtSection 158B DefinitionsSection 158BA Assessment of undisclosed income as a result of searchSection 158BB Computation of undisclosed income of the block periodSection 158BC Procedure for block assessmentSection 158BD Undisclosed income of any other personSection 158BE Time limit for completion of block assessmentSection 158BF Certain interests and penalties not to be levied or imposedSection 158BFA Levy of interest and penalty in certain casesSection 158BG Authority competent to make the block assessmentSection 158BH Application of other provisions of this ActSection 158BI Chapter not to apply after certain dateSection 159 Legal representativesSection 160 Representative assesseeSection 161 Liability of representative assesseeSection 162 Right of representative assessee to recover tax paidSection 163 Who may be regarded as agentSection 164 Charge of tax where share of beneficiaries unknownSection 164A Charge of tax in case of oral trustSection 165 Case where part of trust income is chargeableSection 166 Direct assessment or recovery not barredSection 167 Remedies against property in cases of representative assesseesSection 167A Charge of tax in the case of a firmSection 167B Charge of tax where shares of members in association of persons or body of individuals unknown, etcSection 167C Liability of partners of limited liability partnership in liquidationSection 168 ExecutorsSection 169 Right of executor to recover tax paidSection 170 Succession to business otherwise than on deathSection 171 Assessment after partition of a Hindu undivided familySection 172 Shipping business of non-residentsSection 173 Recovery of tax in respect of non-resident from his assetsSection 174 Assessment of persons leaving IndiaSection 174A Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purposeSection 175 Assessment of persons likely to transfer property to avoid taxSection 176 Discontinued businessSection 177 Association dissolved or business discontinuedSection 178 Company in liquidationSection 179 Liability of directors of private company in liquidationSection 180 Royalties or copyright fees for literary or artistic workSection 180A Consideration for know-howSection 184 Assessment as a firmSection 185 Assessment when section 184 not complied withSection 187 Change in constitution of a firmSection 188 Succession of one firm by another firmSection 188A Joint and several liability of partners for tax payable by firmSection 189 Firm dissolved or business discontinuedSection 189A Provisions applicable to past assessments of firmsSection 190 Deduction at source and advance paymentSection 191 Direct paymentSection 192 SalarySection 192A Payment of accumulated balance due to an employeeSection 193 Interest on securitiesSection 194A Interest other than Interest on securitiesSection 194B Winnings from lottery or crossword puzzleSection 194BB Winnings from horse raceSection 194C Payments to contractorsSection 194D Insurance commissionSection 194DA Payment in respect of life insurance policySection 194E Payments to non-resident sportsmen or sports associationsSection 194EE Payments in respect of deposits under National Savings Scheme, etcSection 194F Payments on account of repurchase of units by Mutual Fund or Unit Trust of IndiaSection 194G Commission, etc., on the sale of lottery ticketsSection 194H Commission or brokerageSection 194I RentSection 194IA Payment on transfer of certain immovable property other than agricultural landSection 194IB Payment of rent by certain individuals or Hindu undivided familySection 194IC Payment under specified agreementSection 194LA Payment of compensation on acquisition of certain immovable propertySection 194LB Income by way of interest from infrastructure debt fundSection 194LBA Certain income from units of a business trustSection 194LBB Income in respect of units of investment fundSection 194LBC Income in respect of investment in securitization trustSection 194LC Income by way of interest from Indian companySection 194LD Income by way of interest on certain bonds and Government securitiesSection 195 Other sumsSection 195A Income payable net of taxSection 196 Interest or dividend or other sums payable to Government, Reserve Bank or certain CorporationsSection 196A Income in respect of units of non-residentsSection 196B Income from unitsSection 196C Income from foreign currency bonds or shares of Indian companySection 196D Income of Foreign Institutional Investors from securitiesSection 197 Certificate for deduction at lower rateSection 197A No deduction to be made in certain casesSection 198 Tax deducted is income receivedSection 199 Credit for tax deductedSection 200 Duty of person deducting taxSection 200A Processing of statements of tax deducted at sourceSection 201 Consequences of failure to deduct or paySection 202 Deduction only one mode of recoverySection 203 Certificate for tax deductedSection 203A Tax deduction and collection account numberSection 203AA Furnishing of statement of tax deductedSection 204 Meaning of person responsible for payingSection 205 Bar against direct demand on assesseeSection 206 Persons deducting tax to furnish prescribed returnsSection 206A Furnishing of quarterly return in respect of payment of interest to residents without deduction of taxSection 206AA Requirement to furnish Permanent Account NumberSection 206C Profits and gains from the business of trading in alcoholic liquor, forest produce, scrap, etcSection 206CA Tax collection account numberSection 206CB Processing of statements of tax collected at sourceSection 206CC Requirement to furnish Permanent Account Number by collecteeSection 207 Liability for payment of advance taxSection 208 Conditions of liability to pay advance taxSection 209 Computation of advance taxSection 210 Payment of advance tax by the assessee of his own accord or in pursuance of order of Assessing OfficerSection 211 Instalments of advance tax and due datesSection 214 Interest payable by GovernmentSection 215 Interest payable by assesseeSection 216 Interest payable by assessee in case of under-estimate, etcSection 217 Interest payable by assessee when no estimate madeSection 218 When assessee deemed to be in defaultSection 219 Credit for advance taxSection 220 When tax payable and when assessee deemed in defaultSection 221 Penalty payable when tax in defaultSection 222 Certificate to Tax Recovery OfficerSection 223 Tax Recovery Officer by whom recovery is to be effectedSection 224 Validity of certificate and cancellation or amendment thereofSection 225 Stay of proceedings in pursuance of certificate and amendment or cancellation thereofSection 226 Other modes of recoverySection 227 Recovery through State GovernmentSection 228A Recovery of tax in pursuance of agreements with foreign countriesSection 229 Recovery of penalties, fine, interest and other sumsSection 230 Tax clearance certificateSection 232 Recovery by suit or under other law not affectedSection 234A Interest for defaults in furnishing return of incomeSection 234B Interest for defaults in payment of advance taxSection 234C Interest for deferment of advance taxSection 234D Interest on excess refundSection 234E Fee for default in furnishing statementsSection 234F Fee for default in furnishing return of incomeSection 236 Relief to company in respect of dividend paid out of past taxed profitsSection 236a Relief to certain charitable institutions or funds in respect of certain dividendsSection 237 RefundsSection 238 Person entitled to claim refund in certain special casesSection 239 Form of claim for refund and limitationSection 240 Refund on appeal, etcSection 241A Withholding of refund in certain casesSection 242 Correctness of assessment not to be questionedSection 243 Interest on delayed refundsSection 244 Interest on refund where no claim is neededSection 244A Interest on refundsSection 245 Set off of refunds against tax remaining payableSection 245A DefinitionsSection 245B Income-tax Settlement CommissionSection 245BA Jurisdiction and powers of Settlement CommissionSection 245BB Vice-Chairman to act as Chairman or to discharge his functions in certain circumstancesSection 245BC Power of Chairman to transfer cases from one Bench to anotherSection 245BD Decision to be by majoritySection 245C Application for settlement of casesSection 245D Procedure on receipt of an application under section 245CSection 245DD Power of Settlement Commission to order provisional attachment to protect revenueSection 245E Power of Settlement Commission to reopen completed proceedingsSection 245F Powers and procedure of Settlement CommissionSection 245G Inspection, etc., of reportsSection 245H Power of Settlement Commission to grant immunity from prosecution and penaltySection 245HA Abatement of proceeding before Settlement CommissionSection 245HAA Credit for tax paid in case of abatement of proceedingsSection 245I Order of settlement to be conclusiveSection 245i Recovery of sums due under order of settlementSection 245K Bar on subsequent application for settlementSection 245L Proceedings before Settlement Commission to be judicial proceedingsSection 245N DefinitionsSection 245O Authority for Advance RulingsSection 245P Vacancies, etc., not to invalidate proceedingsSection 245Q Application for advance rulingSection 245R Procedure on receipt of applicationSection 245RR Appellate authority not to proceed in certain casesSection 245S Applicability of advance rulingSection 245T Advance ruling to be void in certain circumstancesSection 245U Powers of the AuthoritySection 245V Procedure of AuthoritySection 246 Appealable ordersSection 246A Appealable orders before Commissioner (Appeals)Section 248 Appeal by a person denying liability to deduct tax in certain casesSection 249 Form of appeal and limitationSection 250 Procedure in appealSection 251 Powers of the Commissioner (Appeals)Section 252 Appellate TribunalSection 252A Qualifications, terms and conditions of service of President, Vice-President and MemberSection 253 Appeals to the Appellate TribunalSection 254 Orders of Appellate TribunalSection 255 Procedure of Appellate TribunalSection 256 Statement of case to the High CourtSection 257 Statement of case to Supreme Court in certain casesSection 258 Power of High Court or Supreme Court to require statement to be amendedSection 259 Case before High Court to be heard by not less than two judgesSection 260 Decision of High Court or Supreme Court on the case statedSection 260A Appeal to High CourtSection 260B Case before High Court to be heard by not less than two JudgesSection 261 Appeal to Supreme CourtSection 262 Hearing before Supreme CourtSection 263 Revision of orders prejudicial to revenueSection 264 Revision of other ordersSection 265 Tax to be paid notwithstanding reference, etcSection 266 Execution for costs awarded by Supreme CourtSection 267 Amendment of assessment on appealSection 268 Exclusion of time taken for copySection 268A Filing of appeal or application for reference by income-tax authoritySection 269 Definition of High CourtSection 269A DefinitionsSection 269AB Registration of certain transactionsSection 269B Competent authoritySection 269C Immovable property in respect of which proceedings for acquisition may be takenSection 269D Preliminary noticeSection 269E ObjectionsSection 269F Hearing of objectionsSection 269G Appeal against order for acquisitionSection 269H Appeal to High CourtSection 269I Vesting of property in Central GovernmentSection 269J CompensationSection 269K Payment or deposit of compensationSection 269L Assistance by Valuation OfficersSection 269M Powers of competent authoritySection 269N Rectification of mistakesSection 269O Appearance by authorised representative or registered valuerSection 269P Statement to be furnished in respect of transfers of immovable propertySection 269Q Chapter not to apply to transfers to relativesSection 269R Properties liable for acquisition under this Chapter not to be acquired under other lawsSection 269RR Chapter not to apply where transfer of immovable property made after a certain dateSection 269S Chapter not to extend to State of Jammu and KashmirSection 269SS Mode of taking or accepting certain loans, deposits and specified sumSection 269ST Mode of undertaking transactionsSection 269T Mode of repayment of certain loans or depositsSection 269TT Mode of repayment of Special Bearer Bonds, 1991Section 269U Commencement of ChapterSection 269UA DefinitionsSection 269UB Appropriate authoritySection 269UC Restrictions on transfer of immovable propertySection 269UD Order by appropriate authority for purchase by Central Government of immovable propertySection 269UE Vesting of property in Central GovernmentSection 269UF Consideration for purchase of immovable property by Central GovernmentSection 269UG Payment or deposit of considerationSection 269UH Re-vesting of property in the transferor on failure of payment or deposit of considerationSection 269UI Powers of the appropriate authoritySection 269UJ Rectification of mistakesSection 269UK Restrictions on revocation or alteration of certain agreements for the transfer of immovable property or on transfer of certain immovable propertySection 269UL Restrictions on registration, etc., of documents in respect of transfer of immovable propertySection 269UM Immunity to transferor against claims of transferee for transferSection 269UN Order of appropriate authority to be final and conclusiveSection 269UO Chapter not to apply to certain transfersSection 269UP Chapter not to apply where transfer of immovable property effected after certain dateSection 270A Penalty for under reporting and misreporting of incomeSection 270AA Immunity from imposition of penalty, etcSection 271 Failure to furnish returns, comply with notices, concealment of income, etcSection 271A Failure to keep, maintain or retain books of account, documents, etcSection 271AA Penalty for failure to keep and maintain information and document, etc., in respect of certain transactionsSection 271AAA Penalty where search has been initiatedSection 271AAB Penalty where search has been initiatedSection 271AAC Penalty in respect of certain incomeSection 271B Failure to get accounts auditedSection 271BA Penalty for failure to furnish report under section 92ESection 271BB Failure to subscribe to the eligible issue of capitalSection 271C Penalty for failure to deduct tax at sourceSection 271CA Penalty for failure to collect tax at sourceSection 271D Penalty for failure to comply with the provisions of section 269SSSection 271DA Penalty for failure to comply with provisions of section 269STSection 271E Penalty for failure to comply with the provisions of section 269TSection 271F Penalty for failure to furnish return of incomeSection 271FA Penalty for failure to furnish statement of financial transaction or reportable incomeSection 271FAA Penalty for furnishing inaccurate statement of financial transaction or reportable accountSection 271FAB Penalty for failure to furnishing statement or information or document by an eligible investment fundSection 271FB Penalty for failure to furnish return of fringe benefitsSection 271G Penalty for failure to furnish information or document under section 92DSection 271GA Penalty for failure to furnish information or document under section 285ASection 271GB Penalty for failure to furnish report or for furnishing inaccurate report under section 286Section 271H Penalty for failure to furnish statements, etcSection 271I Penalty for failure to furnish information or furnishing inaccurate information under section 195Section 271J Penalty for furnishing incorrect information in reports or certificatesSection 272A Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etcSection 272AA Penalty for failure to comply with the provisions of section 133BSection 272B Penalty for failure to comply with the provisions of section 139ASection 272BB Penalty for failure to comply with the provisions of section 203ASection 272BBB Penalty for failure to comply with the provisions of section 206CASection 273 False estimate of, or failure to pay, advance taxSection 273A Power to reduce or waive penalty, etc., in certain casesSection 273AA Power of Principal Commissioner or Commissioner to grant immunity from penaltySection 273B Penalty not to be imposed in certain casesSection 274 ProcedureSection 275 Bar of limitation for imposing penaltiesSection 275A Contravention of order made under sub-section (3) of section 132Section 275B Failure to comply with the provisions of clause (iib) of sub-section (1) of section 132Section 276 Removal, concealment, transfer or delivery of property to thwart tax recoverySection 276A Failure to comply with the provisions of sub-sections (1) and (3) of section 178Section 276AB Failure to comply with the provisions of sections 269UC, 269UE and 269ULSection 276B Failure to pay tax to the credit of Central Government under Chapter XII-D or XVII-BSection 276BB Failure to pay the tax collected at sourceSection 276C Wilful attempt to evade tax, etcSection 276CC Failure to furnish returns of incomeSection 276CCC Failure to furnish return of income in search casesSection 276D Failure to produce accounts and documentsSection 277 False statement in verification, etcSection 277A Falsification of books of account or document, etcSection 278 Abetment of false return, etcSection 278A Punishment for second and subsequent offencesSection 278AA Punishment not to be imposed in certain casesSection 278AB Power of Principal Commissioner or Commissioner to grant immunity from prosecutionSection 278B Offences by companiesSection 278C Offences by Hindu undivided familiesSection 278D Presumption as to assets, books of account, etc., in certain casesSection 278E Presumption as to culpable mental stateSection 279 Prosecution to be at instance of Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or CommissionerSection 279A Certain offences to be non-cognizableSection 279B Proof of entries in records or documentsSection 280 Disclosure of particulars by public servantsSection 280A Special CourtsSection 280B Offences triable by Special CourtSection 280C Trial of offences as summons caseSection 280D Application of Code of Criminal Procedure, 1973 to proceedings before Special CourtSection 281 Certain transfers to be voidSection 281B Provisional attachment to protect revenue in certain casesSection 282 Service of notice generallySection 282A Authentication of notices and other documentsSection 283 Service of notice when family is disrupted or firm, etc., is dissolvedSection 284 Service of notice in the case of discontinued businessSection 285 Submission of statement by a non-resident having liaison officeSection 285A Furnishing of information or documents by an Indian concern in certain casesSection 285B Submission of statements by producers of cinematograph filmsSection 285BA Obligation to furnish statement of financial transaction or reportable accountSection 286 Furnishing of report in respect of international groupSection 287 Publication of information respecting assessees in certain casesSection 287A Appearance by registered valuer in certain mattersSection 288 Appearance by authorised representativeSection 288A Rounding off of incomeSection 288B Rounding off amount payable and refund dueSection 289 Receipt to be givenSection 290 IndemnitySection 291 Power to tender immunity from prosecutionSection 292 Cognizance of offencesSection 292A Section 360 of the Code of Criminal Procedure, 1973, and the Probation of Offenders Act, 1958, not to applySection 202B Return of income, etc., not to be invalid on certain groundsSection 292BB Notice deemed to be valid in certain circumstancesSection 292C Presumption as to assets, books of account, etcSection 292CC Authorisation and assessment in case of search or requisitionSection 293 Bar of suits in civil courtsSection 293A Power to make exemption, etc., in relation to participation in the business of prospecting for, extraction, etc., of mineral oilsSection 293B Power of Central Government or Board to condone delays in obtaining approvalSection 293C Power to withdraw approvalSection 294 Act to have effect pending legislative provision for charge of taxSection 294A Power to make exemption, etc., in relation to certain Union territoriesSection 295 Power to make rulesSection 296 Rules and certain notifications to be placed before ParliamentSection 297 Repeals and savingsSection 298 Power to remove difficulties

Additional archived section links

Section 9A Certain activities not to constitute business connection in IndiaSection 13A Special provision relating to incomes of political partiesSection 54H Extension of time for acquiring new asset or depositing or investing amount of capital gain115BBC Anonymous donations to be taxed in certain cases115BBD Tax on certain dividends received from foreign companiesSection194 Dividends194J Fees for professional or technical service

How to use this reference

First identify the financial or tax year, then check the Act applicable to that year. For older assessments, review the 1961 Act as amended for that period; for new tax years, use the 2025 Act and the Income-tax Rules, 2026. Check official notifications, judicial decisions and the facts of the case before claiming exemptions, deductions, rebates, loss set-offs or relief.

General legal and tax information only; individual cases may require professional advice.