Section 41 - 80 of Income-Tax Act, 1961

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This Section is in regard to the Income-Tax Act, 1961. Please click on a link below to access the respective section.

  • Section 41: Profits chargeable to tax
  • Section 42: Special provision for deductions in the case of business for prospecting, etc., for mineral oil
  • Section 43: Definitions of certain terms relevant to income from profits and gains of business or profession
  • Section 43A: Special provisions consequential to changes in rate of exchange of currency
  • Section 43B: Certain deductions to be only on actual payment
  • Section 43C: Special provision for computation of cost of acquisition of certain assets
  • Section 43D: Special provision in case of income of public financial institutions, public companies, etc.
  • Section 44: Insurance business
  • Section 44A: Special provision for deduction in the case of trade, professional or similar association
  • Section 44AA: Maintenance of accounts by certain persons carrying on profession or business
  • Section 44AB: Audit of accounts of certain persons carrying on business or profession
  • Section 44AC: [OMITTED BY THE FINANCE ACT, 1992, W.E.F. 1-4-1993]
  • Section 44AD: Special provision for computing profits and gains of business of civil construction, etc.
  • Section 44AE: Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages
  • Section 44AF: Special provisions for computing profits and gains of retail business
  • Section 44B: Special provision for computing profits and gains of shipping business in the case of non-residents
  • Section 44BB: Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils

44BBA - Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents
44BBB - Special provision for computing profits and gains of foreign companies, engaged in the business of civil construction, etc., in certain turnkey power projects
44C - Deduction of head office expenditure in the case of non-residents
44D - Special provisions for computing income by way of royalties, etc., in the case of foreign companies
44DA - Special provision for computing income by way of royalties, etc., in case of non-residents
43 - Definitions of certain terms relevant to income from profits and gains of business or profession
43A - Special provisions consequential to changes in rate of exchange of currency
43B - Certain deductions to be only on actual payment
43C - Special provision for computation of cost of acquisition of certain assets
43D - Special provision in case of income of public financial institutions, public companies, etc.
44 - Insurance business
44A - Special provision for deduction in the case of trade, professional or similar association
44AA - Maintenance of accounts by certain persons carrying on profession or business
44AB - Audit of accounts of certain persons carrying on business or profession
44AC - [OMITTED BY THE FINANCE ACT, 1992, W.E.F. 1-4-1993]
44AD - Special provision for computing profits and gains of business of civil construction, etc.
44AE - Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages
44AF - Special provisions for computing profits and gains of retail business
44B - Special provision for computing profits and gains of shipping business in the case of non-residents
44BB - Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils
44BBA - Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents
44BBB - Special provision for computing profits and gains of foreign companies, engaged in the business of civil construction, etc., in certain turnkey power projects
44C - Deduction of head office expenditure in the case of non-residents
44D - Special provisions for computing income by way of royalties, etc., in the case of foreign companies
44DA - Special provision for computing income by way of royalties, etc., in case of non-residents
44DB - Special provision for computing deductions in the case of business reorganization of co-operative banks

  • Section 45: Capital gains
  • Section 46: Capital gains on distribution of assets by companies in liquidation
  • Section 46A: Capital gains on purchase by company of its own shares or other specified securities
  • Section 47: Transactions not regarded as transfer

47A - Withdrawal of exemption in certain cases
48 - Mode of computation (of Capital Gains)
49 - Cost with reference to certain modes of acquisition
50 - Special provision for computation of capital gains in case of depreciable assets
50A - Special provision for cost of acquisition in case of depreciable asset
50B - Special provision for computation of capital gains in case of slump sale
50C - Special provision for full value of consideration in certain cases
51 - Advance money received
52 - [OMITTED BY THE FINANCE ACT, 1987, W.E.F. 1-4-1988]
53 - [OMITTED BY THE FINANCE ACT, 1992, W.E.F. 1-4-1993]

  • Section 54: Profit on sale of property used for residence

54A - [OMITTED BY THE FINANCE (NO. 2) ACT, 1971, W.E.F. 1-4-1972]
54B - Capital gain on transfer of land used for agricultural purposes not to be charged in certain cases
54C - [OMITTED BY THE FINANCE ACT, 1976, W.E.F. 1-4-1976]
54D - Capital gain on compulsory acquisition of lands and buildings not to be charged in certain cases
54E - Capital gain on transfer of capital assets not to be charged in certain cases
54EA - Capital gain on transfer of long-term capital assets not to be charged in the case of investment in specified securities
54EB - Capital gain on transfer of long-term capital assets not to be charged in certain cases

  • Section 54EC: Capital gain not to be charged on investment in certain bonds

54ED - Capital gain on transfer of certain listed securities or unit, not to be charged in certain cases

  • Section 54F: Capital gain on transfer of certain capital assets not to be charged in case of investment in residential house
  • Section 54G: Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area
  • Section 54GA: Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone
  • Section 54H: Extension of time for acquiring new asset or depositing or investing amount of capital gain
  • Section 55: Meaning of "adjusted", "cost of improvement" and "cost of acquisition"
  • Section 55A: Reference to Valuation Officer
  • Section 56: Income from other sources
  • Section 57: Deductions
  • Section 58: Amounts not deductible
  • Section 59: Profits chargeable to tax
  • Section 60: Transfer of income where there is no transfer of assets<
  • Section 61: Revocable transfer of assets
  • Section 62: Transfer irrevocable for a specified period
  • Section 63: "Transfer" and "revocable transfer" defined
  • Section 64: Income of individual to include income of spouse, minor child, etc.

65 - Liability of person in respect of income included in the income of another person
66 - Total income
67 - [OMITTED BY THE FINANCE ACT, 1992, W.E.F. 1-4-1993]
67A - Method of computing a member?s share in income of association of persons or body of individuals
68 - Cash credits
69 - Unexplained investments
69A - Unexplained money, etc.
69B - Amount of investments, etc., not fully disclosed in books of account
69C - Unexplained expenditure, etc.
69D - Amount borrowed or repaid on hundi
70 - Set off of loss from one source against income from another source under the same head of income
71 - Set off of loss from one head against income from another
71A - Transitional provisions for set off of loss under the head "Income from house property"
71B - Carry forward and set off of loss from house property
72 - Carry forward and set off of business losses
72A - Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in amalgamation or demerger, etc.
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 cases
72AB - Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in business reorganisation of co-operative banks
73 - Losses in speculation business
73A - Carry forward and set off of losses by specified business
74 - Losses under the head "Capital gains"
74A - Losses from certain specified sources falling under the head "income from other sources"
75 - Losses of firms
76 - [OMITTED BY THE FINANCE ACT, 1992, W.E.F. 1-4-1993]
77 - [OMITTED BY THE FINANCE ACT, 1992, W.E.F. 1-4-1993]
78 - Carry forward and set off of losses in case of change in constitution of firm or on succession
79 - Carry forward and set off of losses in the case of certain companies
80 - Submission of return for losses
80A - Deductions to be made in computing total income
80AA - [OMITTED BY THE FINANCE ACT, 1997, W.E.F. 1-4-1998]
80AB - Deductions to be made with reference to the income included in the gross total income
80AC - Deduction not to be allowed unless return furnished
80B - Definitions
80C - Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc.
80CC - [OMITTED BY THE FINANCE (NO. 2) ACT, 1996, W.R.E.F. 1-4-1993]
80CCA - Deduction in respect of deposits under National Savings Scheme or payment to a deferred annuity plan
80CCB - Deduction in respect of investment made under Equity Linked Savings Scheme
80CCC - Deduction in respect of contribution to certain pension funds
80CCD - Deduction in respect of contribution to pension scheme of Central Government
80CCE - Limit on deductions under sections 80C, 80CCC and 80CCD
80CCF - Deduction in respect of subscription to long-term infrastructure bonds
80D - Deduction in respect of medical insurance premia
80DD - Deduction in respect of maintenance including medical treatment of a dependent who is a person with disability
80DDB - Deduction in respect of medical treatment, etc.
80E - Deduction in respect of interest on loan taken for higher education
80F - [OMITTED BY THE FINANCE ACT, 1985, W.E.F. 1-4-1986]
80FF - [OMITTED BY THE FINANCE (NO. 2) ACT, 1980, W.E.F. 1-4-1981]
80G - Deduction in respect of donations to certain funds, charitable institutions, etc.
80GG - Deductions in respect of rents paid
80GGA - Deduction in respect of certain donations for scientific research or rural development
80GGB - Deduction in respect of contributions given by companies to political parties
80GGC - Deductions in respect of contributions given by any person to political parties
80H - [OMITTED BY THE TAXATION LAWS (AMENDMENT) ACT, 1975, W.E.F. 1-4-1976]
80HH - Deduction in respect of profits and gains from newly established industrial undertakings or hotel business in backward areas
80HHA - Deduction in respect of profits and gains from newly established small-scale industrial undertakings in certain areas
80HHB - Deduction in respect of profits and gains from projects outside India
80HHBA - Deduction in respect of profits and gains from housing projects in certain cases
80HHC - Deduction in respect of profits retained for export business
80HHD - Deduction in respect of earnings in convertible foreign exchange
80HHE - Deduction in respect of profits from export of?computer software, etc.
80HHF - Deduction in respect of profits and gains from export or transfer of film software, etc.
80I - Deduction in respect of profits and gains from industrial undertakings after a certain date, etc.
80IA - Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc.
80IAB - Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone
80IB - Deduction in respect of profits and gains from certain industrial undertakings other than infrastructure development undertakings
80IC - Special provisions in respect of certain undertakings or enterprises in certain special category States
80ID - Deduction in respect of profits and gains from business of hotels and convention centres in specified area
80IE - Special provisions in respect of certain undertakings in North-Eastern States
80J - [OMITTED BY THE FINANCE (NO. 2) ACT, 1996, W.R.E.F. 1-4-1989]
80JJ - [OMITTED BY THE FINANCE ACT, 1997, W.E.F. 1-4-1998]
80JJA - Deduction in respect of profits and gains from business of collecting and processing of bio-degradable waste
80JJAA - Deduction in respect of employment of new workmen
80K - [OMITTED BY THE FINANCE ACT, 1986, W.E.F. 1-4-1987]
80L - [OMITTED BY THE FINANCE ACT, 2005, W.E.F. 1-4-2006]
80LA - Deduction in respect of certain incomes of Offshore Banking Units and International Financial Services Centre
80M - [OMITTED BY THE FINANCE ACT, 2003, W.E.F. 1-4-2004]
80MM - [OMITTED BY THE FINANCE ACT, 1983, W.E.F. 1-4-1984]
80N - [OMITTED BY THE FINANCE ACT, 1985, W.E.F. 1-4-1986]
80O - Deduction in respect of royalties, etc., from certain foreign enterprises
80P - Deduction in respect of income of co-operative societies
80Q - Deduction in respect of profits and gains from the business of publication of books
80QQ - [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1989]
80QQA - Deduction in respect of professional income of authors of text books in Indian languages
80QQB - Deduction in respect of royalty income, etc., of authors of certain books other than text books
80R - Deduction in respect of remuneration from certain foreign sources in the case of professors, teachers, etc.
80RR - Deduction in respect of professional income from foreign sources in certain cases
80RRA - Deduction in respect of remuneration received for services rendered outside India
80RRB - Deduction in respect of royalty on Patents
80S - [OMITTED BY THE FINANCE ACT, 1986, W.E.F. 1-4-1987]
80T - [OMITTED BY THE FINANCE ACT, 1987, W.E.F. 1-4-1988]
80TT - [OMITTED BY THE FINANCE ACT, 1986, W.E.F. 1-4-1987]
80U - Deduction in case of a person with disability
80V - [OMITTED BY THE FINANCE ACT, 1994, W.E.F. 1-4-1995]
80VV - [OMITTED BY THE FINANCE ACT, 1985, W.E.F. 1-4-1986]
80VVA - [OMITTED BY THE FINANCE ACT, 1987, W.E.F. 1-4-1988]

Sections of the Indian Income Tax Act, 1961


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