Appendix J: Selected Sections of the Income-tax Act, 2025

1

Short title, extent and commencement

2

Definitions

3

Definition of tax year

4

Charge of income-tax

5

Scope of total income

6

Residence in India

7

Income deemed to be received and dividend deemed to be income

8

Income on receipt of capital asset or stock-in-trade by specified person from specified entity (old 9B)

9

Income deemed to accrue or arise in India, read with Schedule I

10

Apportionment of income between spouses governed by Portuguese Civil Code (old 5A)

11

Incomes not included in total income, read with Schedules II to VII (old 10)

12

Incomes of political parties and electoral trusts, read with Schedule VIII

13

Heads of income

14

Expenditure in relation to income not forming part of total income (old 14A)

15 to 19

Salaries: charge, salary, perquisites, profits in lieu of salary, deductions from salary

20 to 25

House property: charge, annual value, deductions, arrears and unrealised rent, co-owners, interpretation

26

Income under the head business or profession (old 28)

27

Manner of computing business income (old 29)

28

Rent, rates, taxes, repairs and insurance (old 30, 31, 38)

29

Deductions related to employee welfare

30

Deduction on certain premium

31

Bad debts and provision for bad and doubtful debts

32

Other deductions (old 36)

33

Depreciation (old 32)

34

General conditions for allowable deductions (old 37)

35

Amounts not deductible (old 40)

36

Expenses or payments not deductible (old 40A)

37

Deductions on actual payment only (old 43B)

38

Deemed profits (old 41)

39, 41

Actual cost; written down value (old 43)

40

Cost of certain assets (old 43C)

42, 43

Foreign exchange fluctuation (old 43A, 43AA)

44

Preliminary expenses (old 35D)

45

Scientific research, read with Schedule XIII (old 35)

46

Capital expenditure of specified business (old 35AD)

47

Agricultural extension and skill development (old 35CCC, 35CCD)

48, 49

Tea, coffee, rubber development accounts; site restoration fund

50

Trade and professional associations (old 44A)

51

Prospecting of minerals (old 35E)

52

Amortisation: telecom, amalgamation, demerger, VRS (old 35ABA, 35ABB, 35DD, 35DDA)

53

Stamp value for assets other than capital assets (old 43CA)

54

Mineral oil business (old 42)

55

Insurance business, read with Schedule XIV (old 44)

56

Interest income of specified financial institutions (old 43D)

57

Construction and service contracts (old 43CB)

58

Presumptive taxation for residents (old 44AD, 44ADA, 44AE)

59

Royalty and FTS of non-residents (old 44DA)

60

Head office expenditure of non-residents (old 44C)

61

Presumptive taxation of non-residents (old 44B to 44BBD)

62

Books of account (old 44AA)

63

Tax audit (old 44AB)

64, 65

Co-operative bank reorganisation (old 44DB)

66

Interpretation for business income

67

Capital gains (old 45)

68

Distribution in liquidation (old 46)

69

Buyback of own shares (old 46A)

70

Transactions not regarded as transfer (old 47)

71

Withdrawal of exemption (old 47A)

72

Mode of computation (old 48)

73

Cost with reference to certain modes of acquisition (old 49)

74

Depreciable assets (old 50)

75

Cost of depreciable asset (old 50A)

76

Market-linked debentures and specified funds (old 50AA)

77

Slump sale (old 50B)

78

Stamp value for land and building (old 50C)

79

Unquoted shares (old 50CA)

80

FMV as consideration in certain cases (old 50D)

81

Advance money received (old 51)

82

Residential house exemption (old 54)

83

Agricultural land (old 54B)

84

Compulsory acquisition of industrial land and building (old 54D)

85

Investment in specified bonds (old 54EC)

86

Investment in residential house (old 54F)

87, 88

Shifting of industrial undertakings (old 54G, 54GA)

89

Extension of time for acquiring new asset (old 54H)

90

Meaning of adjusted cost, cost of improvement, cost of acquisition (old 55)

91

Reference to Valuation Officer (old 55A)

92 to 95

Other sources: charge, deductions, amounts not deductible, deemed profits (old 56 to 59)

96 to 100

Income of other persons, clubbing (old 60 to 65)

101

Total income (old 66)

102 to 106

Unexplained credits, investments, assets, expenditure, hundi borrowings (old 68 to 69D)

108 to 121

Set off and carry forward of losses (old 70 to 80)

122

Deductions: general (old 80A to 80B)

123 to 137

Deductions for certain payments (old 80C to 80GGC)

138 to 152

Deductions for certain incomes (old 80-IA to 80RRB, 10AA)

153

Interest on deposits (old 80TTA, 80TTB)

154

Person with disability (old 80U)

155, 156

Rebate (old 87, 87A)

157

Relief for arrears or advance salary (old 89)

158

Relief for retirement benefit accounts in notified countries (old 89A)

159

Double taxation relief under agreements (old 90, 90A)

160

Unilateral relief (old 91)

161 to 173

Transfer pricing (old 92 to 92F)

174

Avoidance of income tax by transfer to non-residents (old 93)

175

Bond washing and dividend stripping (old 94)

176

Notified jurisdictional areas (old 94A)

177

Limitation of interest deduction (old 94B)

181

Consequences of impermissible avoidance arrangement (GAAR)

192

Tax on undisclosed income in block assessment

196

STCG on listed equity and similar assets (old 111A)

197

LTCG (old 112)

198

LTCG on listed equity and similar assets (old 112A)

199

Certain manufacturing domestic companies (old 115BA)

200

Concessional regime for domestic companies (old 115BAA)

201

New manufacturing domestic companies (old 115BAB)

202

New tax regime for individuals, HUFs and others (old 115BAC)

206

MAT and AMT (old 115JB, 115JC)

207

Dividends, interest, royalty, FTS of non-residents (old 115A)

226 to 234

Tonnage tax scheme

262

Permanent Account Number (old 139A, 139AA)

263

Return of income (old 139)

264

Tax return preparers (old 139B)

265

Verification of return (old 140)

266

Self assessment (old 140A)

267

Updated return (old 140B)

268

Inquiry before assessment (old 142)

270

Assessment (old 143)

271

Best judgment assessment (old 144)

273

Faceless assessment (old 144B)

275

Dispute Resolution Panel (old 144C)

279

Income escaping assessment (old 147)

280

Issue of notice (old 148)

281

Procedure before notice (old 148A)

282

Time limit for notices (old 149)

286

Time limit for completion of assessment (old 153)

332 to 355

Registered non-profit organisations

392

TDS on salary (old 192)

393

TDS on other payments (old 193 to 196D)

394

TCS (old 206C)

395

Lower or nil deduction certificate (old 197)

397

Payment, statements and certificates of TDS and TCS

403 to 411

Advance tax and default in payment (old 207 to 220)

413 to 420

Recovery of tax

423 to 426

Interest for defaults (old 234A to 234D)

427, 428

Fees for late statements and returns (old 234E, 234F)

437

Interest on refunds (old 244A)

438

Set off and withholding of refunds (old 245)

439

Penalty for under-reporting and misreporting (old 270A)

536

Repeal and savings