The income tax act, 1961 is the charging statute of income tax in india. Transactions not regarded as transfer section 47, income. Act current to 20200319 and last amended on 20200101. Incometax act, 1961 as amended by finance act 2019 2018 2017 2016 2015 2014 20 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 1988 1987 1986 1985 1984 1983 1982 1981 1980 1979 1978 1977 1976 1975 1974 1973 1972 1971 1970 1969 1968 1967 1966 1965 1964 1963 1962 1961. I preliminary section 1 short title, extent and commencement section 2 part a definitions clause 1 to clause 15 advance tax to charitable purpose section 2 part b definitions clause 15a to clause 30 chief commissioner to nonresident section. These different sections deal with various aspects of taxation in india. Section80qqb deduction in respect of royalty income, etc. If a person who is required to furnish a return of his income, as required under sub section 1 of section 9 or by the provisos to that sub section, fails to.
This section contains free e books and guides on tax, some of the resources in this section can be viewed online and some of them can be downloaded. Final rules notified for valuation of unquoted equity share for the purposes of section 56 and section 50ca of the income tax act, 1961 cbdt notification no. This e book on gst act, 2017 has been prepared for the benefit of students and professionals. As per section 44aa1 read with rule 6f the persons carrying on any of the profession as mentioned below are required to maintain books. For meaning of the term assessee, see taxmanns direct taxes manual, vol. List of sections of income tax act 1961 download pdf. Profession requires purely intellectual skill or manual skill on the basis of some special. Deduction us 80qqb in respect of royalty income of authors of books. Hi where can i get full text of income tax act 1961. Section page contents division one 1 incometax act, 1961 page u arrangement of sections i3 u text of the incometax act, 1961 as amended by the finance act, 2012 1. Income tax tax collected by the central government for each financial year on the total taxable income of an assessee earned during the previous year is called income tax.
All books are in clear copy here, and all files are secure so dont worry about it. Section 1 of the income tax act, 1961 an overall view. The income tax to be paid by any personassessee is based on his residential status and place of receipt of income. This app by offline apps india is amended as per finance act 2019 and contains income tax act amended as per finance act. The income tax department never asks for your pin numbers, passwords or similar access information for credit cards, banks or other financial accounts through email the income tax department. Read online section 68 of income tax act, 1961 book pdf free download link book now. The incometax act, 1961 is the charging statute of income tax in india. Section 44aa of income tax act and rule 6f of income tax rules deal with the provisions regarding maintenance of books of accounts under income tax act. Transactions not regarded as transfer section 47, income tax act, 1961 nothing contained in section 45 shall apply to the following transfers. Complete list of sections of income tax act, 19612019 aubsp. Income tax act rules list 2019 has been provided for tax payers which includes revised and newly added tax rules.
Conditions for applicability of sections 11 and 12 1. If you continue, tabs opened first shall be closed. It provides for levy, administration, collection and recovery of income tax. The constitution of india schedule vii union list entry 82 has given the power to the central government to levy a tax on any income other than agricultural income, which is defined in section 101 of the income tax act, 1961. Latest income tax act sections list has been provided for finance people. Section 80cce provides that the aggregate amount of deductions under section 80c, section 80ccc and section 80ccd shall not, in any case, exceed rs. Income tax act 1961 is free app providing detail section wise and chapter wise information on charging statute of income tax in india. Doesnt require internet connection to view them view data section wise chapter wise. It is based on the central goods and services tax cgst act, 2017, the state goods and services tax sgst act 2017, the union territory goods and services tax utgst act. Section 241 of the income tax act, 1961 provides certain deductions towards. Deduction in respect of professional income of authors of text books in indian languages. Free tax books download ebooks online textbooks tutorials. Income tax act 1961 complete act citation 530 bare.
Compulsory maintenance of books of account under income tax. Apportionment of income between spouses governed by portuguese civil code. No further adjustments should be made to the net profits of ind as compliant entities, other than those specified in section 115jb of the act certain items included in other comprehensive income. Basics and definitions income tax act, 1961 background, concept and mechanism of income tax definitions, concept of income, previous year, assessment year, distinction between capital and revenue receipts and expenditure, residential status basis of charge and scope of total income. Surrender of salaries exemption from taxation act, 1961, the. Maintenance of accounts by certain persons carrying on business or profession. Section 115jb of the income tax act, 1961 the act prescribes that. Cbdt amends the report on computation of book profits for.
Download the list of sections of income tax act, 1961 in pdf and excel format. India and performance of the income tax administration secondary data has been collected mainly from finance acts, explanatory memorandum on the budget of the central government, reports of the various committeescommissions, indian economic survey, income tax act 1961, income tax. Chapter wise and section wise summary of income tax act. Recent judgements under direct tax laws 7 residential 44 refresher course th recent judgements under direct taxes encompassing the provisions of the income tax act, 1961 and the wealth tax act.
Income tax act 1961 national academy of direct taxes. Text of remaining provisions of allied acts referred to in incometax act 1. The various heads for which you have to pay income tax include. Contains all enforced central and state acts linked with subordinate data like rules,regulations,notifications,orders,circulars,ordinances,statutes. This site is like a library, you could find million book. Chapter wise and section wise summary of income tax act 1961 is available for download at the excellent download file is in the format of pdf. The income tax department never asks for your pin numbers, passwords or similar access information for credit cards, banks or other financial accounts through email the income tax department appeals to taxpayers not to respond to such emails and not to share information relating to their credit card, bank and other financial accounts.
List of sections of income tax act, 1961 in excel format. Those who are responsible for registering, or, maintaining books of. For multiple keywords search please use space between each keyword. For understanding the overall concept of income tax law in india, one should have to know the title or contents topics covered under sections 1 to 298 of income tax act, 1961 as amended by the latest finance act. Income tax act 1961 section wise details here is a way to easily remember as this will be useful to beginners. App features complete income tax act 1961 in digital format.