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Income-tax Act, 2025
Act
Active
Central
Income-tax Act, 2025
ITA 2025
Authority
Ministry of Finance (Department of Revenue)
Effective date
Effective / published 1 April 2026
Act number
30 of 2025
Year
2025
Table of contents
Chapter I — PRELIMINARY
Section 1 — Short title, extent and commencement
Section 2 — Definitions
Section 3 — Six kilometres
Chapter II — BASIS OF CHARGE
Section 4 — Charge of Income-tax
Section 5 — Scope of total income
Section 6 — Residence in India
Section 7 — Income deemed to be received and dividend deemed to be income in a tax year
Section 8 — Income on receipt of capital asset or stock-in-trade by specified person from specified entity
Section 9 — Income deemed to accrue or arise in India
Section 10 — Apportionment of income between spouses governed by Portuguese Civil Code
Chapter III — INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME
Section 11 — Incomes not included in total income
Section 12 — Incomes not included in total income of political parties and electoral trusts
Chapter IV — COMPUTATION OF TOTAL INCOME
Section 13 — Heads of income
Section 14 — Income not forming part of total income and expenditure in relation to such income
Section 15 — Salaries
Section 16 — Income from salary
Section 17 — Perquisite
Section 18 — Profits in lieu of salary
Section 19 — Deductions from salaries
Section 20 — Income from house property
Section 21 — Determination of annual value
Section 22 — Deductions from income from house property
Section 23 — Arrears of rent and unrealised rent received subsequently
Section 24 — Property owned by co-owners
Section 25 — Interpretation
Section 26 — Income under head “Profits and gains of business or profession”
Section 27 — Manner of computing profits and gains of business or profession
Section 28 — Rent, rates, taxes, repairs and insurance
Section 29 — Deductions related to employee welfare
Section 30 — Deduction on certain premium
Section 31 — Deduction for bad debt and provision for bad and doubtful debt
Section 32 — Other deductions
Section 33 — Deduction for depreciation
Section 34 — General conditions for allowable deductions
Section 35 — Amounts not deductible in certain circumstances
Section 36 — Expenses or payments not deductible in certain circumstances
Section 37 — Certain deductions allowed on actual payment basis only
Section 38 — Certain sums deemed as profits and gains of business or profession
Section 39 — Computation of actual cost
Section 40 — Special provision for computation of cost of acquisition of certain assets
Section 41 — Written down value of depreciable asset
Section 42 — Capitalising impact of foreign exchange fluctuation
Section 43 — Taxation of foreign exchange fluctuation
Section 44 — Amortisation of certain preliminary expenses
Section 45 — Expenditure on scientific research
Section 46 — Capital expenditure of specified business
Section 47 — Expenditure on agricultural extension project and skill development project
Section 48 — Tea development account, coffee development account and rubber development account
Section 49 — Site Restoration Fund
Section 50 — Special provision in case of trade, profession or similar association
Section 51 — Amortisation of expenditure for prospecting certain minerals
Section 52 — Amortisation of expenditure for telecommunications services, amalgamation, demerger, scheme of voluntary retirement, etc
Section 53 — Full value of consideration for transfer of assets other than capital assets in certain cases
Section 54 — Business of prospecting for mineral oils
Section 55 — Insurance business
Section 56 — Special provision in case of interest income of specified financial institutions
Section 57 — Revenue recognition for construction and service contracts
Section 58 — Special provision for computing profits and gains of business or profession on presumptive basis in case of certain residents
Section 59 — Computation of royalty and fee for technical services in hands of non-residents
Section 60 — Deduction of head office expenditure in case of non-residents
Section 61 — Special provision for computation of income on presumptive basis in respect of certain business activities of certain non-residents
Section 62 — Maintenance of books of account
Section 63 — Tax audit
Section 64 — Special provision for computing deductions in case of business reorganisation of co-operative banks
Section 65 — Interpretation for purposes of section 64
Section 66 — Interpretation
Section 67 — Capital gains
Section 68 — Capital gains on distribution of assets by companies in liquidation
Section 69 — Capital gains on purchase by company of its own shares or other specified securities
Section 70 — Transactions not regarded as transfer
Section 71 — Withdrawal of exemption in certain cases
Section 72 — Mode of computation of capital gains
Section 73 — Cost with reference to certain modes of acquisition
Section 74 — Special provision for computation of capital gains in case of depreciable assets
Section 75 — Special provision for cost of acquisition in case of depreciable asset
Section 76 — Special provision for computation of capital gains in case of Market Linked Debenture
Section 77 — Special provision for computation of capital gains in case of slump sale
Section 78 — Special provision for full value of consideration in certain cases
Section 79 — Special provision for full value of consideration for transfer of share other than quoted share
Section 80 — Fair market value deemed to be full value of consideration in certain cases
Section 81 — Advance money received
Section 82 — Profit on sale of property used for residence
Section 83 — Capital gains on transfer of land used for agricultural purposes not to be charged in certain cases
Section 84 — Capital gains on compulsory acquisition of lands and buildings not to be charged in certain cases
Section 85 — Capital gains not to be charged on investment in certain bonds
Section 86 — Capital gains on transfer of certain capital assets not to be charged in case of investment in residential house
Section 87 — Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area
Section 88 — Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone
Section 89 — Extension of time for acquiring new asset or depositing or investing amount of capital gains
Section 90 — Meaning of “adjusted”, “cost of improvement” and “cost of acquisition”
Section 91 — Reference to Valuation Officer
Section 92 — Income from other sources
Section 93 — Deductions
Section 94 — Amounts not deductible
Section 95 — Profits chargeable to tax
Chapter V — INCOME OF OTHER PERSONS INCLUDED IN TOTAL INCOME OF ASSESSEE
Section 96 — Transfer of income without transfer of assets
Section 97 — Chargeability of income in transfer of assets
Section 98 — “Transfer” and “revocable transfer” defined
Section 99 — Income of individual to include income of spouse, minor child, etc
Section 100 — Liability of person in respect of income included in income of another person
Chapter VI — AGGREGATION OF INCOME
Section 101 — Total income
Section 102 — Unexplained credits
Section 103 — Unexplained investment
Section 104 — Unexplained asset
Section 105 — Unexplained expenditure
Section 106 — Amount borrowed or repaid through negotiable instrument, hundi, etc
Section 107 — Charge of tax
Chapter VII — SET OFF, OR CARRY FORWARD AND SET OFF OF LOSSES
Section 108 — Set off of losses under same head of income
Section 109 — Set off of losses under any other head of income
Section 110 — Carry forward and set off of loss from house property
Section 111 — Carry forward and set off of loss from Capital gains
Section 112 — Carry forward and set off of business loss
Section 113 — Set off and carry forward of losses computed in respect of speculation business
Section 114 — Set off and carry forward of losses computed in respect of specified business
Section 115 — Set off and carry forward of losses from specified activity
Section 116 — Treatment of accumulated losses and unabsorbed depreciation in amalgamation or demerger, etc
Section 117 — Treatment of accumulated losses and unabsorbed depreciation in scheme of amalgamation in certain cases
Section 118 — Carry forward and set off of losses and unabsorbed depreciation in business reorganization of co-operative banks
Section 119 — Carry forward and set off of losses not permissible in certain cases
Section 120 — No set off of losses against undisclosed income consequent to search, requi-sition and survey
Section 121 — Submission of return for losses
Chapter VIII — DEDUCTIONS TO BE MADE IN COMPUTING TOTAL INCOME
Section 122 — Deductions to be made in computing total income
Section 123 — Deduction for life insurance premia, deferred annuity, contributions to pro-vident fund, etc
Section 124 — Deduction in respect of employer and assessee contribution to pension scheme of Central Government
Section 125 — Deduction in respect of contribution to Agnipath Scheme
Section 126 — Deduction in respect of health insurance premia
Section 127 — Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability
Section 128 — Deduction in respect of medical treatment, etc
Section 129 — Deduction in respect of interest on loan taken for higher education
Section 130 — Deduction in respect of interest on loan taken for residential house property
Section 131 — Deduction in respect of interest on loan taken for certain house property
Section 132 — Deduction in respect of purchase of electric vehicle
Section 133 — Deduction in respect of donations to certain funds, charitable institutions, etc
Section 134 — Deductions in respect of rents paid
Section 135 — Deduction in respect of certain donations for scientific research or rural development
Section 136 — Deduction in respect of contributions given by companies to political parties
Section 137 — Deduction in respect of contributions given by any person to political parties
Section 138 — Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc
Section 139 — Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone
Section 140 — Special provision in respect of specified business
Section 141 — Deduction in respect of profits and gains from certain industrial under-takings
Section 142 — Deductions in respect of profits and gains from housing projects
Section 143 — Special provisions in respect of certain undertakings in North-Eastern States
Section 144 — Special provisions in respect of newly established Units in Special Economic Zones
Section 145 — Deduction for businesses engaged in collecting and processing of bio-de - gradable waste
Section 146 — Deduction in respect of additional employee cost
Section 147 — Deductions for income of Offshore Banking Units and Units of International Financial Services Centre
Section 148 — Deduction in respect of certain inter-corporate dividends
Section 149 — Deduction in respect of income of co-operative societies
Section 150 — Deduction in respect of income of federal co-operative
Section 151 — Deduction in respect of royalty income, etc., of authors of certain books other than text-books
Section 152 — Deduction in respect of royalty on patents
Section 153 — Deduction for interest on deposits
Section 154 — Deduction in case of a person with disability
Chapter IX — REBATES AND RELIEFS
Section 155 — Rebate to be allowed in computing income-tax
Section 156 — Rebate of income-tax in case of certain individuals
Section 157 — Relief when salary, etc., is paid in arrears or in advance
Section 158 — Relief from taxation in income from retirement benefit account maintained in a notified country
Section 159 — Agreement with foreign countries or specified territories and adoption by Central Government of agreement between specified associations for double taxation relief
Section 160 — Countries with which no agreement exists
Chapter X — SPECIAL PROVISIONS RELATING TO A VOIDANCE OF TAX
Section 161 — Computation of income from international transaction and specified domestic transaction having regard to arm’s length price
Section 162 — Meaning of associated enterprise
Section 163 — Meaning of international transaction. [S. 92B of the 1961 Act]
Section 164 — Meaning of specified domestic transaction
Section 165 — Determination of arm’s length price
Section 166 — Reference to Transfer Pricing Officer
Section 167 — Power of Board to make safe harbour rules
Section 168 — Advance pricing agreement
Section 169 — Effect to advance pricing agreement
Section 170 — Secondary adjustment in certain cases
Section 171 — Maintenance, keeping and furnishing of information and document by certain persons
Section 172 — Report from an accountant to be furnished by persons entering into inter-national transaction or specified domestic transaction
Section 173 — Definitions of certain terms relevant to determination of arm’s length price, etc
Section 174 — Avoidance of income-tax by transactions resulting in transfer of income to non-residents
Section 175 — Avoidance of tax by certain transactions in securities
Section 176 — Special measures in respect of transactions with persons located in notified jurisdictional area
Section 177 — Limitation on interest deduction in certain cases
Chapter XI — GENERAL ANTI-A VOIDANCE RULE
Section 178 — Applicability of General Anti-Avoidance Rule
Section 179 — Impermissible avoidance arrangement
Section 180 — Arrangement to lack commercial substance
Section 181 — Consequences of impermissible avoidance arrangement. [S. 98 of the 1961 Act]
Section 182 — Treatment of connected person and accommodating party
Section 183 — Application of this Chapter
Section 184 — Interpretation
Chapter XII — MODE OF PAYMENT IN CERTAIN CASES, ETC.
Section 185 — Mode of taking or accepting certain loans, deposits and specified sum
Section 186 — Mode of undertaking transactions
Section 187 — Acceptance of payment through prescribed electronic modes
Section 188 — Mode of repayment of certain loans or deposits or specified advances
Section 189 — Interpretation
Chapter XIII — DETERMINATION OF TAX IN SPECIAL CASES
Section 190 — Determination of tax where total income includes income on which no tax is payable
Section 191 — Tax on accumulated balance of recognised provident fund
Section 192 — Tax in case of block assessment of search cases
Section 193 — Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer
Section 194 — [Ss. 115B, 115BB, 115BBF, 115BBG, 115BBH and 115BBJ of the 1961 Act]
Section 195 — Tax on income referred to in sections 102 to 106
Section 196 — Tax on short-term capital gains in certain cases
Section 197 — Tax on long-term capital gains
Section 198 — Tax on long-term capital gains in certain cases
Section 199 — Tax on income of certain manufacturing domestic companies
Section 200 — Tax on income of certain domestic companies
Section 201 — Tax on income of new manufacturing domestic companies
Section 202 — New tax regime for individuals, Hindu undivided family and others
Section 203 — Tax on income of certain resident co-operative societies
Section 204 — Tax on income of certain new manufacturing co-operative societies
Section 205 — Conditions for tax on income of certain companies and co-operative societies
Section 206 — Special provision for minimum alternate tax and alternate minimum tax
Section 207 — Tax on dividends, royalty and fees for technical service in case of foreign companies
Section 208 — Tax on income from units purchased in foreign currency or capital gains arising from their transfer
Section 209 — Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer
Section 210 — Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer
Section 211 — Tax on non-resident sportsmen or sports associations
Section 212 — Interpretation
Section 213 — Special provision for computation of total income of non-residents
Section 214 — Tax on investment income and long-term capital gains
Section 215 — Capital gains on transfer of foreign exchange assets not to be charged in certain cases
Section 216 — Return of income not to be furnished in certain cases
Section 217 — Application of benefits under sections 212 to 216
Section 218 — Tax on business income of Offshore Banking Units or International Financial Services Centre unit
Section 219 — Conversion of an Indian branch of foreign company into subsidiary Indian company
Section 220 — Foreign company said to be resident in India
Section 221 — Tax on income from securitisation trusts
Section 222 — Tax on income in case of venture capital undertakings
Section 223 — Tax on income of unit holder and business trust
Section 224 — Tax on income of investment fund and its unit holders
Section 225 — Income from business of operating qualifying ships
Section 226 — Tonnage tax scheme
Section 227 — Computation of tonnage income
Section 228 — Relevant shipping income and exclusion from book profit
Section 229 — Depreciation and gains relating to tonnage tax assets
Section 230 — Exclusion of deduction, loss, set off, etc
Section 231 — Method of opting of tonnage tax scheme and validity
Section 232 — Certain conditions for applicability of tonnage tax scheme
Section 233 — Amalgamation and demerger
Section 234 — Avoidance of tax and exclusion from tonnage tax scheme
Section 235 — Interpretation
Chapter XIV — TAX ADMINISTRATION
Section 236 — Income-tax authorities
Section 237 — Appointment of income-tax authorities
Section 238 — Control of income-tax authorities
Section 239 — Instructions to subordinate authorities
Section 240 — Taxpayer’s Charter
Section 241 — Jurisdiction of income-tax authorities
Section 242 — Jurisdiction of Assessing Officers
Section 243 — Power to transfer cases
Section 244 — Change of incumbent of an office
Section 245 — Faceless jurisdiction of income-tax authorities
Section 246 — Power regarding discovery, production of evidence, etc
Section 247 — Search and seizure
Section 248 — Powers to requisition
Section 249 — Reasons not to be disclosed
Section 250 — Application of seized or requisitioned assets
Section 251 — Copying, extraction, retention and release of books of account and documents seized or requisitioned
Section 252 — Power to call for information
Section 253 — Powers of survey
Section 254 — Power to collect certain information
Section 255 — Power to inspect registers of companies
Section 256 — Power of certain income-tax authorities
Section 257 — Proceedings before income-tax authorities to be judicial proceedings
Section 258 — Disclosure of information relating to assessees
Section 259 — Power to call for information by prescribed income-tax authority
Section 260 — Faceless collection of information
Section 261 — Interpretation
Chapter XV — RETURN OF INCOME
Section 262 — Permanent Account Number
Section 263 — Return of income
Section 264 — Scheme for submission of returns through tax return preparers
Section 265 — Return by whom to be verified
Section 266 — Self-assessment
Section 267 — Tax on updated return
Chapter XVI — PROCEDURE FOR ASSESSMENT
Section 268 — Inquiry before assessment
Section 269 — Estimation of value of assets by Valuation Officer
Section 270 — Assessment
Section 271 — Best judgment assessment
Section 272 — Power of Joint Commissioner to issue directions in certain cases
Section 273 — Faceless Assessment
Section 274 — Reference to Principal Commissioner or Commissioner in certain cases
Section 275 — Reference to Dispute Resolution Panel
Section 276 — Method of accounting
Section 277 — Method of accounting in certain cases
Section 278 — Taxability of certain income
Section 279 — Income escaping assessment
Section 280 — Issue of notice where income has escaped assessment
Section 281 — Procedure before issuance of notice under section 280
Section 282 — Time limit for notices under sections 280 and 281
Section 283 — Provision for cases where assessment is in pursuance of an order on appeal, etc
Section 284 — Sanction for issue of notice
Section 285 — Other provisions
Section 286 — Time limit for completion of assessment, reassessment and recomputation
Section 287 — Rectification of mistake
Section 288 — Other amendments
Section 289 — Notice of demand
Section 290 — Modification and revision of notice in certain cases
Section 291 — Intimation of loss
Section 292 — Assessment of total undisclosed income as a result of search
Section 293 — Computation of total undisclosed income of block period
Section 294 — Procedure for block assessment
Section 295 — Undisclosed income of any other person
Section 296 — Time-limit for completion of block assessment
Section 297 — Certain interests and penalties not to be levied or imposed
Section 298 — Levy of interest and penalty in certain cases. [S. 158BFA of the 1961 Act]
Section 299 — Authority competent to make assessment of block period
Section 300 — Application of other provisions of Act
Section 301 — Interpretation
Chapter XVII — SPECIAL PROVISIONS RELATING TO CERTAIN PERSONS
Section 302 — 1.—Legal representatives Legal representative
Section 303 — 2.—Representative assessees—General provisions Representative assessee
Section 304 — Liability of representative assessee
Section 305 — Right of representative assessee to recover tax paid
Section 306 — Who may be regarded as agent
Section 307 — Charge of tax where share of beneficiaries unknown
Section 308 — Charge of tax in case of oral trust
Section 309 — Method of computing a member’s share in income of association of persons or body of individuals
Section 310 — Share of member of association of persons or body of individuals in income of association or body
Section 311 — Charge of tax where shares of members in association of persons or body of individuals unknown, etc
Section 312 — Executor
Section 313 — Succession to business or profession otherwise than on death
Section 314 — Effect of order of tribunal or court in respect of business reorganisation
Section 315 — Assessment after partition of Hindu undivided family
Section 316 — Shipping business of non-residents
Section 317 — Assessment of persons leaving India
Section 318 — Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose
Section 319 — Assessment of persons likely to transfer property to avoid tax
Section 320 — Discontinued business
Section 321 — Association dissolved or business discontinued
Section 322 — Company in liquidation
Section 323 — 13.—Private companies Liability of directors of private company
Section 324 — 14.—Assessment of firms Charge of tax in case of a firm
Section 325 — Assessment as a firm
Section 326 — Assessment when section 325 not complied with
Section 327 — 15.—Change in constitution, succession and dissolution Change in constitution of a firm
Section 328 — Succession of one firm by another firm
Section 329 — Joint and several liability of partners for tax payable by firm
Section 330 — Firm dissolved or business discontinued
Section 331 — 16.—Liability of partners of limited liability partnership in liquidation Liability of partners of limited liability partnership in liquidation
Section 332 — Application for registration
Section 333 — Switching over of regimes
Section 334 — Tax on income of registered non-profit organisation
Section 335 — Regular income
Section 336 — Taxable regular income
Section 337 — Specified income
Section 338 — Income not to be included in regular income
Section 339 — Corpus donation
Section 340 — Deemed corpus donation
Section 341 — Application of income
Section 342 — Accumulated income
Section 343 — Deemed accumulated income
Section 344 — Business undertaking held as property
Section 345 — Restriction on commercial activities by a registered non-profit organisation
Section 346 — Restriction on commercial activities by registered non-profit organisation, carrying out advancement of any other object of general public utility
Section 347 — Books of account
Section 348 — Audit
Section 349 — Return of income
Section 350 — Permitted modes of investment
Section 351 — Specified violation
Section 352 — Tax on accreted income
Section 353 — Other violations
Section 354 — Application for approval for purpose of section 133(1)(b)(ii)
Section 355 — Interpretation
Chapter XVIII — APPEALS, REVISIONS AND ALTERNATE DISPUTE RESOLUTIONS
Section 356 — Appealable orders before Joint Commissioner (Appeals)
Section 357 — Appealable orders before Commissioner (Appeals)
Section 358 — Form of appeal and limitation
Section 359 — Procedure in appeal
Section 360 — Powers of Joint Commissioner (Appeals) or Commissioner (Appeals)
Section 361 — Appellate Tribunal
Section 362 — Appeals to Appellate Tribunal
Section 363 — Orders of Appellate Tribunal
Section 364 — Procedure of Appellate Tribunal
Section 365 — Appeal to High Court
Section 366 — Case before High Court to be heard by not less than two Judges
Section 367 — Appeal to Supreme Court
Section 368 — Hearing before Supreme Court
Section 369 — Tax to be paid irrespective of appeal, etc
Section 370 — Execution for costs awarded by Supreme Court
Section 371 — Amendment of assessment on appeal
Section 372 — Exclusion of time taken for copy
Section 373 — Filing of appeal by income-tax authority
Section 374 — Interpretation of “High Court”
Section 375 — Procedure when assessee claims identical question of law is pending before High Court or Supreme Court
Section 376 — Procedure where an identical question of law is pending before High Courts or Supreme Court
Section 377 — Commissioner or Principal Commissioner or Commissioner Revision of orders prejudicial to revenue
Section 378 — Revision of other orders
Section 379 — 1.—Dispute Resolution Committee in certain cases Dispute Resolution Committee
Section 380 — 2.—Advance rulings Interpretation
Section 381 — Board for Advance Rulings
Section 382 — Vacancies, etc., not to invalidate proceedings
Section 383 — Application for advance ruling
Section 384 — Procedure on receipt of application
Section 385 — Appellate authority not to proceed in certain cases
Section 386 — Advance ruling to be void in certain circumstances
Section 387 — Powers of the Board for Advance Rulings
Section 388 — Procedure of Board for Advance Rulings
Section 389 — Appeal
Chapter XIX — COLLECTION AND RECOVERY OF TAX
Section 390 — Deduction or collection at source and advance payment
Section 391 — Direct payment
Section 392 — Salary and accumulated balance due to an employee
Section 393 — Tax to be deducted at source
Section 394 — Collection of tax at source
Section 395 — Certificates
Section 396 — Tax deducted is income received
Section 397 — Compliance and reporting
Section 398 — Consequences of failure to deduct or pay or, collect or pay
Section 399 — Processing
Section 400 — Power of Central Government to relax provisions of this Chapter
Section 401 — Bar against direct demand on assessee
Section 402 — Interpretation
Section 403 — Liability for payment of advance tax
Section 404 — Conditions of liability to pay advance tax
Section 405 — Computation of advance tax
Section 406 — Payment of advance tax by assessee on his own accord
Section 407 — Payment of advance tax by assessee in pursuance of order of Assessing Officer
Section 408 — Instalments of advance tax and due dates
Section 409 — When assessee is deemed to be in default
Section 410 — Credit for advance tax
Section 411 — When tax payable and when assessee deemed in default
Section 412 — Penalty payable when tax in default
Section 413 — Certificate by Tax Recovery Officer and validity thereof
Section 414 — Tax Recovery Officer by whom recovery is to be effected
Section 415 — Stay of proceedings in pursuance of certificate and amendment or cancella-tion thereof
Section 416 — Other modes of recovery
Section 417 — Recovery through State Government
Section 418 — Recovery of tax in pursuance of agreements with foreign countries
Section 419 — Recovery of penalties, fine, interest and other sums
Section 420 — Tax clearance certificate
Section 421 — Recovery by suit or under other law not affected
Section 422 — Recovery of tax arrear in respect of non-resident from his assets
Section 423 — Interest for defaults in furnishing return of income
Section 424 — Interest for defaults in payment of advance tax
Section 425 — Interest for deferment of advance tax
Section 426 — Interest on excess refund
Section 427 — Fee for default in furnishing statements
Section 428 — Fee for default in furnishing return of income, audited accounts and reports
Section 429 — Fee for default relating to statement or certificate
Section 430 — Fee for default relating to intimation of Aadhaar number
Chapter XX — REFUNDS
Section 431 — Refunds
Section 432 — Person entitled to claim refund in certain special cases
Section 433 — Form of claim for refund and limitation
Section 434 — Refund for denying liability to deduct tax in certain cases
Section 435 — Refund on appeal, etc
Section 436 — Correctness of assessment not to be questioned
Section 437 — Interest on refunds
Section 438 — Set off and withholding of refunds in certain cases
Chapter XXI — PENALTIES
Section 439 — Penalty for under-reporting and misreporting of income
Section 440 — Waiver of penalty and immunity from prosecution.]
Section 441 — Failure to keep, maintain or retain books of account, documents, etc
Section 442 — Penalty for failure to keep and maintain information and document, etc., in respect of certain transactions
Section 443 — Penalty in respect of certain income
Section 444 — Penalty for false entry, etc., in books of account
Section 445 — Benefits to related persons
Section 446 — Penalty for failure to furnish information or for furnishing inaccurate information on transaction of crypto-asset
Section 447 — Penalty for failure to furnish report under section 172
Section 448 — Penalty for failure to deduct tax at source
Section 449 — Penalty for failure to collect tax at source
Section 450 — Penalty for failure to comply with provisions of section 185
Section 451 — Penalty for failure to comply with provisions of section 186
Section 452 — Penalty for failure to comply with provisions of section 187
Section 453 — Penalty for failure to comply with provisions of section 188
Section 454 — Penalty for failure to furnish statement of financial transaction or reportable account after a notice
Section 455 — Penalty for furnishing inaccurate statement of financial transaction or reportable account
Section 456 — Penalty for failure to furnish statement or information or document by an eligible investment fund
Section 457 — Penalty for failure to furnish information or document under section 171
Section 458 — Penalty for failure to furnish information or document under section 506
Section 459 — Penalty for failure to furnish report or for furnishing inaccurate report under section 511
Section 460 — Penalty for failure to submit statement under section 505
Section 461 — Penalty for failure to furnish statements, etc
Section 462 — Penalty for failure to furnish information or furnishing inaccurate information under section 397(3)(d)
Section 463 — Penalty for furnishing incorrect information in reports or certificates
Section 464 — Penalty for failure to furnish statements, etc
Section 465 — Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc
Section 466 — Penalty for failure to comply with the provisions of section 254
Section 467 — Penalty for failure to comply with the provisions of 14[sections 262 and 397]
Section 468 — Penalty for failure to comply with the provisions of section 397
Section 469 — Power to reduce or waive penalty, etc., in certain cases
Section 470 — Penalty not to be imposed in certain cases
Section 471 — Procedure
Section 472 — Bar of limitation for imposing penalties
Chapter XXII — OFFENCES AND PROSECUTION
Section 473 — Contravention of order made during search action.]
Section 474 — Failure to afford facility for inspection of books of account during search.]
Section 475 — Removal, concealment, transfer or delivery of property to prevent tax recovery
Section 476 — Failure to pay tax to credit of Central Government under Chapter XIX-B
Section 477 — Failure to pay tax collected at source
Section 478 — Wilful attempt to evade tax, etc
Section 479 — Failure to furnish returns of income
Section 480 — Failure to furnish return of income setting forth undisclosed income
Section 481 — Failure to comply with a direction of special audit or valuation
Section 482 — False statement in verification, etc
Section 483 — Falsification of books of account or document, etc
Section 484 — Abetment of false return, etc
Section 485 — Punishment for second and subsequent offences
Section 486 — Punishment not to be imposed in certain cases
Section 487 — Offences by companies
Section 488 — Offences by Hindu undivided family
Section 489 — Presumption as to assets, books of account, etc., in certain cases
Section 490 — Presumption as to culpable mental state
Section 491 — Prosecution to be at instance of Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner
Section 492 — Certain offences to be non-cognizable
Section 493 — Proof of entries in records or documents
Section 494 — Disclosure of particulars by public servants
Section 495 — Special Courts
Section 496 — Offences triable by Special Court
Section 497 — Trial of offences as summons case
Section 498 — Application of Bharatiya Nagarik Suraksha Sanhita, 2023 to proceedings before Special Court
Chapter XXIII — MISCELLANEOUS
Section 499 — Certain transfers to be void
Section 500 — Provisional attachment to protect revenue in certain cases
Section 501 — Service of notice, generally
Section 502 — Authentication of notices and other documents
Section 503 — Service of notice when family is disrupted or firm etc., is dissolved
Section 504 — Service of notice in case of discontinued business
Section 505 — Submission of statement by a non-resident having liaison office
Section 506 — Furnishing of information or documents by an Indian concern in certain cases
Section 507 — Submission of statements by producers of cinematograph films or persons engaged in specified activity
Section 508 — Obligation to furnish statement of financial transaction or reportable account
Section 509 — Obligation to furnish information on transaction of crypto-asset
Section 510 — Annual information statement
Section 511 — Furnishing of report in respect of international group
Section 512 — Publication of information respecting assessees in certain cases
Section 513 — Appearance by registered valuer in certain matters
Section 514 — Registration of valuers
Section 515 — Appearance by authorised representative
Section 516 — Rounding off of amount of total income, or amount payable or refundable
Section 517 — Receipt to be given
Section 518 — Indemnity
Section 519 — Power to tender immunity from prosecution
Section 520 — Cognizance of offences
Section 521 — Probation of Offenders Act, 1958 and section 401 of Bharatiya Nagarik Sura-ksha Sanhita, 2023, not to apply
Section 522 — Circumstances in which return of income, assessment, approvals, etc., not to be invalid
Section 523 — Notice deemed to be valid in certain circumstances
Section 524 — Presumption as to assets, books of account, etc
Section 525 — Authorisation and assessment in case of search or requisition
Section 526 — Bar of suits in civil courts
Section 527 — Power to make exemption, etc., in relation to participation in business of prospecting for, extraction, etc., of mineral oils
Section 528 — Power of Central Government or Board to condone delays in obtaining approval
Section 529 — Power to withdraw approval
Section 530 — Act to have effect pending legislative provision for charge of tax
Section 531 — Power to rescind exemption in relation to certain Union territories already granted under section 294A of the Income-tax Act, 1961
Section 532 — Power to frame schemes
Section 533 — Power to make rules
Section 534 — Laying before Parliament
Section 535 — Removal of difficulties
Section 536 — Repeal and savings
Schedule I — CONDITIONS FOR CERTAIN ACTIVITIES NOT TO CONSTITUTE BUSINESS CONNECTION IN INDIA
Schedule II — INCOME NOT TO BE INCLUDED IN TOTAL INCOME
Schedule III — INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF ELIGIBLE PERSONS
Schedule IV — INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF ELIGIBLE NON- RESIDENTS, FOREIGN COMPANIES AND OTHER SUCH PERSONS
Schedule V — INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF CERTAIN ELIGIBLE PERSONS INCLUDING INVESTMENT FUNDS, BUSINESS TRUSTS AND THEIR UNIT HOLDERS
Schedule VI — INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF CERTAIN ELIGIBLE PERSONS IN INTERNATIONAL FINANCIAL SERVICES CENTRE OR HAVING INCOME THEREFROM
Schedule VII — PERSONS EXEMPT FROM TAX
Schedule VIII — INCOME NOT TO BE INCLUDED IN THE TOTAL INCOME OF POLITICAL PARTIES AND ELECTORAL TRUSTS
Schedule IX — DEDUCTION FOR TEA DEVELOPMENT ACCOUNT, COFFEE DEVELOPMENT ACCOUNT AND RUBBER DEVELOPMENT ACCOUNT FOR COMPUTING INCOME UNDER THE HEAD “PROFITS AND GAINS OF BUSINESS OR PROFESSION”
Schedule X — DEDUCTION FOR SITE RESTORATION FUND FOR COMPUTING INCOME UNDER THE HEAD “PROFITS AND GAINS OF BUSINESS OR PROFESSION”
Schedule XI — PART A RECOGNISED PROVIDENT FUNDS
Schedule XII — PART A MINERALS
Schedule XIII — LIST OF ARTICLES OR THINGS
Schedule XIV — INSURANCE BUSINESS
Schedule XV — DEDUCTION IN RESPECT OF LIFE INSURANCE PREMIA, CONTRIBUTION TO PROVIDENT FUND, SUBSCRIPTION TO CERTAIN EQUITY SHARES, ETC.
Schedule XVI — PERMITTED MODES OF INVESTMENT OR DEPOSITS
Subject matter
Direct taxation of income
Rule of
Rule
Income-tax Rules, 2026
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