The Institute of Chartered Accountants of India

INCOMETAX ACT

CHAPTER NO.	CHAPTER HEADING
Section - 1	Short title, extent and commencement
Section - 2	Definitions
Section - 3	Charge of income-tax
Section - 4	Application of Act
Section - 4A	Residence in the taxable territories
Section - 4B	Ordinary residence
Section - 5	Income-tax authorities
Section - 5A	The Appellate Tribunal
Section - 6	Heads of income chargeable to income-tax
Section - 7	Salaries
Section - 8	Interest on securities
Section - 9	Property
Section - 10	Business
Section - 11	Professional earnings
Section - 12	Other sources
Section - 12A	Managing agency commission
Section - 12AA	Royalties or copyright fees for literary or artistic works
Section - 12B	Capital gains
Section - 13	Method of accounting
Section - 14	Exemptions of a general nature
Section -15	Exemption in the case of life insurances
Section -15A	Exemption of portion of earned income
Section -15B	Exemption on account of donations for charitable purposes
Section -15C	Exemption from tax of newly established industrial undertakings
Section -16	Exemption from tax of newly established industrial undertakings
Section -17	Determination of tax payable in certain special cases
Section -18	Payment by deduction at source
Section -18A	Advance payment of tax
Section -19	Payment in other cases
Section -19A	Supply of information regarding dividends
Section -20	Certificate by company to shareholders receiving dividends
Section -20A	Supply of information regarding interest
Section -21	Annual return
Section -22	Return of income
Section -23	Assessment
Section -23A	Power to assess companies to super-tax on undistributed income in certain cases
Section -23B	Power to make provisional assessment in advance of regularassessment
Section -24	Set-off of loss in computing aggregate income
Section -24A	Assessment in case of departure from the taxable territories
Section -24B	Tax of deceased person payable by representative
Section -25	Assessment in case of discontinued business
Section -25A	Assessment after partition of a Hindu undivided family
Section -26	Change in constitution of a firm
Section - 26A	Procedure in registration of firms
Section - 27	Cancellation of assessment when cause is shown
Section - 28	Penalty for concealment of income or improper distribution of profits
Section - 29	Notice of demand
Section - 30	Appeal against assessment under this Act
Section - 31	Hearing of appeal
Section - 32	Omitted by s. 87 of the Indian Income-tax (Amendment) Act, 1939
Section - 33	Appeals against orders of Appellate Assistant Commissioner
Section - 33A	Power of revision by Commissioner
Section - 33B	Power of Commissioner to revise Income-tax Officer's orders
Section - 34	Income escaping assessment
Section - 35	Rectification of mistake
Section - 36	Omitted by s. 3 of the Finance Act, 1957
Section - 37	Powers of Income-tax authorities
Section - 38	Power to call for information
Section - 39	Power to inspect the register of members of any company
Section - 40	Guardians, trustees and agents
Section -41	Courts of Wards, etc
Section -42	Income deemed to accrue or arise within the taxable territories
Section -43	Agent to include persons treated as such
Section -44	Liability in case of firm or association discontinued or dissolved
Section -44A	Liability to tax of occasional shipping
Section -44B	Return of profits and gains
Section -44C	Adjustment
Section -44D	Avoidance of income-tax by transactions resulting in the transfer of income to persons resident or ordinarily resident abroad
Section -44E	Avoidance of tax by certain transactions in securities
Section -44F	Avoidance of tax by sales cum-dividend
Section -45	Tax when payable
Section -46	Mode and time of recovery
Section -46A	Persons leaving India to obtain tax clearance certificate
Section -47	Recovery of penalties
Section -48	Refunds
Section -48A	Omitted by s. 56 of the Indian Income-tax (Amendment) Act, 1939
Section -49	Omitted by s. 10 of the Income-tax and Business Profits Tax(Amendment) Act, 1948, with effect from 30th March 1948
Section -49A	Agreement for granting relief in respect of double taxation or for avoidance thereof
Section -49B	Relief to shareholders in respect of agricultural income-tax attributable to dividends
Section -49BB	Relief to company in respect of dividend paid out of past taxed profits
Section -49C	Omitted by s. 15 of the Finance Act, 1959, with effect from 1st April 1960
Section -49D	Relief in respect of incomes accruing or arising outside the taxable territories
Section -49E	Power to set off amount of refunds against tax remaining payable
Section -49EE	Power to set off in certain cases moneys in the possession of Government against tax found due under assessments, etc., thereafter to be made
Section -49F	Power of representative of deceased person or person disabled to make claim on his behalf
Section -50	Limitation of claims for refund
Section -50A	Omitted by s. 62 of the Indian Income-tax (Amendment) Act, 1939
Section -51	Failure to make payments or deliver returns or statements or allow inspection
Section -52	False statement in declaration
Section -53	Prosecution to be at instance of Inspecting Assistant Commissioner
Section -54	Disclosure of information by a public servant
Section -55	Charge of super-tax
Section -56	Total income for purposes of super-tax
Section -56A	Exemption from super-tax of certain dividends
Section -57	Omitted by s. 69 of the Indian Income-tax (Amendment) Act, 1939
Section -58	Application of Act to super-tax
Section -58A	Definitions
Section -58B	The according and withdrawal of recognition
Section -58C	Conditions to be satisfied by a recognised provident fund
Section -58D	Power to relax restrictions of employer's contributions in certain cases
Section -58E	Annual contributions of employers and interest when deemed to be income received
Section -58F	Exemption of employees' contributions from income-tax
Section -58G	Exemption of accumulated balance from income-tax and super-tax
Section -58H	Deduction at source of income-tax payable on accumulated balances due
Section -58-I	Accounts of recognised provident funds
Section -58J	Treatment of balances in newly recognised provident funds
Section -58K	Treatment of fund transferred by employer to trustee
Section -58L	Provisions relating to rules
Section -58M	Application of this Chapter
Section -58N	Definitions
Section - 58-O	Approval and withdrawal of approval
Section -58P	Conditions for approval
Section -58Q	Application for approval
Section -58R	Exemption of superannuation fund from income-tax
Section -58S	Treatment of repaid contributions
Section -58T	Deduction from pay of, and contributions on behalf of, employee to be included in return under section 21
Section -58U	Liabilities of trustees on cessation of approval of fund
Section -58V	Particulars to be furnished in respect of superannuation funds
Section -59	Power to make rules
Section -59A	Publication of information respecting penalties in certain cases
Section -59B	Disclosure of information respecting tax payable
Section -60	Power to make exemption, etc
Section -60A	Power, to make exemption, etc., in relation to merged territories or to the territories which immediately before the 1st November, 1956, were comprised in any Part B State or to Chandernagore
Section -60B	Tax may be levied for period other than previous year or deducted at source or paid in advance, wherever so provided
Section -61	Appearance by authorised representative
Section -62	Receipts to be given
Section -63	Service of notices
Section -64	Place of assessment
Section -65	Indemnity
Section -66	Statement of case by Appellate Tribunal to High Court
Section -66A	Reference to be heard by Benches of High Courts and appeal to lie in certain cases to the Supreme Court
Section -67	Bar of suits in Civil Court
Section -67A	Computation of periods of limitation
Section -67B	Act to have effect pending legislative provision for charge of income-tax
Section -68	Repeals
SCHEDULE	RULES FOR THE COMPUTATION OF THE PROFITS AND GAINS OFINSURANCE BUSINESS

INCOMETAX ACT

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