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<s>[INST] What does Section 1 of the Income Tax Act, 1961 state? [/INST] Section 1. (1) This Act may be called the Income-tax Act, 1961.
(2) It extends to the whole of India.
(3) Save as otherwise provided in this Act, it shall come into force on the 1st day of April, 1962.
_____________________________________________... |
<s>[INST] What does Section 3 of the Income Tax Act, 1961 state? [/INST] Section 3. For the purposes of this Act, "previous year" means the financial year immediately preceding the
assessment year :
Provided that, in the case of a business or profession newly set up, or a source of income newly coming into
existence, i... |
<s>[INST] What does Section 4 of the Income Tax Act, 1961 state? [/INST] Section 4. (1) Where any Central Act enacts that income-tax shall be charged for any assessment year at any rate or
rates, income-tax at that rate or those rates shall be charged for that year in accordance with, and subject to
the provisions (inc... |
<s>[INST] What does Section 5 of the Income Tax Act, 1961 state? [/INST] Section 5. (1) Subject to the provisions of this Act, the total income of any previous year of a person who is a resident
includes all income from whatever source derived which—
(a) is received or is deemed to be received in India in such year by ... |
<s>[INST] What does Section 6 of the Income Tax Act, 1961 state? [/INST] Section 6. For the purposes of this Act,—
(1) An individual is said to be resident in India in any previous year, if he—
(a) is in India in that year for a period or periods amounting in all to one hundred and eighty-two
days or more ; or
(b) [***... |
<s>[INST] What does Section 7 of the Income Tax Act, 1961 state? [/INST] Section 7. The following incomes shall be deemed to be received in the previous year :—
(i) the annual accretion in the previous year to the balance at the credit of an employee participating in a
recognised provident fund, to the extent provided ... |
<s>[INST] What does Section 16 of the Income Tax Act, 1961 state? [/INST] Section 16. Sub. by the Act No. 8 of 2023, w.e.f. 1-4-2024.
Income on receipt of capital asset or stock in trade by specified person from specified entity.</s> |
<s>[INST] What does Section 9B of the Income Tax Act, 1961 state? [/INST] Section 9B. (1) Where a specified person receives during the previous year any capital asset or stock in trade or both
from a specified entity in connection with the dissolution or reconstitution of such specified entity, then the
specified entit... |
<s>[INST] What does Section 17 of the Income Tax Act, 1961 state? [/INST] Section 17. Sub. for "2024" by the Act No. 8 of 2024, w.e.f. 1-4-2024.</s> |
<s>[INST] What does Section 18 of the Income Tax Act, 1961 state? [/INST] Section 18. Item (I) shall be renumbered as item "(I)(a)" by the Act No. 15 of 2024, w.e.f. 1-4-2025.</s> |
<s>[INST] What does Section 19 of the Income Tax Act, 1961 state? [/INST] Section 19. Ins. by the Act No. 8 of 2023, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 20 of the Income Tax Act, 1961 state? [/INST] Section 20. Sub. for "non-residents; or" by the Act No. 6 of 2022 w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 21 of the Income Tax Act, 1961 state? [/INST] Section 21. Sub. for "2024" by the Act No. 8 of 2024, w.e.f. 1-4-2024.</s> |
<s>[INST] What does Section 22 of the Income Tax Act, 1961 state? [/INST] Section 22. Sub. by the Act No. 8 of 2023, w.e.f. 1-4-2024.</s> |
<s>[INST] What does Section 23 of the Income Tax Act, 1961 state? [/INST] Section 23. Ins. by the Act No. 6 of 2022, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 24 of the Income Tax Act, 1961 state? [/INST] Section 24. Sub. for "2024" by the Act No. 8 of 2024, w.e.f. 1-4-2024.</s> |
<s>[INST] What does Section 25 of the Income Tax Act, 1961 state? [/INST] Section 25. Sub. by the Act No. 6 of 2022, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 26 of the Income Tax Act, 1961 state? [/INST] Section 26. Clauses (4G) and (4H) sub. for clause (4G) by the Act No. 8 2023, w.e.f. 1-4-2024.</s> |
<s>[INST] What does Section 27 of the Income Tax Act, 1961 state? [/INST] Section 27. Ins. by the Act No. 6 of 2022, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 28 of the Income Tax Act, 1961 state? [/INST] Section 28. Ins. by the Act No. 6 of 2022, w.e.f. 1-4-2023.
*With effect from 1-4-2004, section 80DD has been sub. for sections 80DD & 80DDA.</s> |
<s>[INST] What does Section 29 of the Income Tax Act, 1961 state? [/INST] Section 29. Words "or the Explanation to sub-section (2A) of section 88, as the case may be" omtt. by the Act
No. 8 of 2023, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 30 of the Income Tax Act, 1961 state? [/INST] Section 30. Sub. for the sixth proviso by the Act No. 8 of 2023, w.e.f. 1-4-2024.</s> |
<s>[INST] What does Section 31 of the Income Tax Act, 1961 state? [/INST] Section 31. Ins. by the Act No. 8 of 2023, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 32 of the Income Tax Act, 1961 state? [/INST] Section 32. Ins. by the Act No. 8 of 2023, w.e.f. 1-4-2024.</s> |
<s>[INST] What does Section 33 of the Income Tax Act, 1961 state? [/INST] Section 33. Omtt. by the Act No. 8 of 2023, w.e.f. 1-4-2023.
34-35. Sub. for "prescribed authority" by the Act No. 6 of 2022, w.e.f. 1-4-2022.</s> |
<s>[INST] What does Section 36 of the Income Tax Act, 1961 state? [/INST] Section 36. Ins. by the Act No. 15 of 2024, w.e.f. 1-10-2024.</s> |
<s>[INST] What does Section 37 of the Income Tax Act, 1961 state? [/INST] Section 37. Sub. by the Act No. 8 of 2023, w.e.f. 1-10-2023.</s> |
<s>[INST] What does Section 38 of the Income Tax Act, 1961 state? [/INST] Section 38. Ins. by the Act No. 15 of 2024, w.e.f. 1-10-2024.</s> |
<s>[INST] What does Section 39 of the Income Tax Act, 1961 state? [/INST] Section 39. Ins. by the Act No. 8 of 2023, w.e.f. 1-10-2023.</s> |
<s>[INST] What does Section 40 of the Income Tax Act, 1961 state? [/INST] Section 40. Sub. by the Act No. 8 of 2023, w.e.f. 1-10-2023.</s> |
<s>[INST] What does Section 41 of the Income Tax Act, 1961 state? [/INST] Section 41. Explanations 1A and 1B ins. by the Act No. 6 of 2022, w.r.e.f. 1-4-2021.</s> |
<s>[INST] What does Section 42 of the Income Tax Act, 1961 state? [/INST] Section 42. Word "and" omtt. by the Act No. 8 of 2023, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 43 of the Income Tax Act, 1961 state? [/INST] Section 43. Ins. by the Act No. 8 of 2023, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 44 of the Income Tax Act, 1961 state? [/INST] Section 44. Ins. by the Act No. 8 of 2023, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 45 of the Income Tax Act, 1961 state? [/INST] Section 45. Ins. by the Act No. 8 of 2023, w.e.f. 1-4-2024.</s> |
<s>[INST] What does Section 46 of the Income Tax Act, 1961 state? [/INST] Section 46. Explanations 3, 4 and 5 ins. by the Act No. 6 of 2022, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 47 of the Income Tax Act, 1961 state? [/INST] Section 47. Sub. for "furnished on or before" by the Act No. 8 of 2023, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 48 of the Income Tax Act, 1961 state? [/INST] Section 48. Sub. by the Act No. 6 of 2022, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 49 of the Income Tax Act, 1961 state? [/INST] Section 49. Sub. by the Act No. 6 of 2022, w.e.f. 1-4-2022.</s> |
<s>[INST] What does Section 50 of the Income Tax Act, 1961 state? [/INST] Section 50. Sub. for "attained finality." by the Act No. 8 of 2023, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 51 of the Income Tax Act, 1961 state? [/INST] Section 51. Ins. by the Act No. 8 of 2023, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 52 of the Income Tax Act, 1961 state? [/INST] Section 52. Sub. by the Act No. 6 of 2022, w.e.f. 1-4-2022.
Special provisions in respect of newly established Units in Special Economic Zones.
10AA. (1) Subject to the provisions of this section, in computing the total income of an assessee, be... |
<s>[INST] What does Section 75 of the Income Tax Act, 1961 state? [/INST] Section 75. Ins. by the Act No. 8 of 2023, w.e.f. 1-4-2024.</s> |
<s>[INST] What does Section 76 of the Income Tax Act, 1961 state? [/INST] Section 76. Ins. by the Act No. 8 of 2023, w.e.f. 1-4-2024.</s> |
<s>[INST] What does Section 77 of the Income Tax Act, 1961 state? [/INST] Section 77. Clauses (i) and (ia) sub. for clause (i) by the Act No. 8 of 2023, w.e.f. 1-4-2024.
Meaning of computer programmes in certain cases.
10BB. The profits and gains derived by an undertaking from the production of computer programmes und... |
<s>[INST] What does Section 78 of the Income Tax Act, 1961 state? [/INST] Section 78. Explanations 3A and 3B ins. by the Act No. 6 of 2022, w.r.e.f. 1-4-2021.</s> |
<s>[INST] What does Section 79 of the Income Tax Act, 1961 state? [/INST] Section 79. Sub. for "deposit; and" by the Act No. 8 of 2023, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 80 of the Income Tax Act, 1961 state? [/INST] Section 80. Ins. by the Act No. 8 of 2023, w.e.f. 1-4-2023.
80a. Ins. by the Act No. 8 of 2023, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 81 of the Income Tax Act, 1961 state? [/INST] Section 81. Ins. by the Act No. 8 of 2023, w.e.f. 1-4-2024.</s> |
<s>[INST] What does Section 82 of the Income Tax Act, 1961 state? [/INST] Section 82. Sub. for "on or before" by the Act No. 8 of 2023, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 83 of the Income Tax Act, 1961 state? [/INST] Section 83. Words "or in the year immediately following the expiry thereof" omtt. by the Act No. 6 of 2022,</s> |
<s>[INST] What does Section 84 of the Income Tax Act, 1961 state? [/INST] Section 84. Sub. for long line beginning with the words "shall be deemed" and ending with the words "period
aforesaid" by the Act No. 6 of 2022, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 85 of the Income Tax Act, 1961 state? [/INST] Section 85. Words "other than clause (1), clause (23C), clause (23EA), clause (23EC), clause (23ED), clause (46),
clause (46A) and clause (46B) thereof" shall be sub. for "other than clause (1), clause (23C), clause
(23EC), clause (46) and clause... |
<s>[INST] What does Section 86 of the Income Tax Act, 1961 state? [/INST] Section 86. Sub. for "and clause (46)" by the Act No. 8 of 2023, w.e.f. 1-4-2024.</s> |
<s>[INST] What does Section 87 of the Income Tax Act, 1961 state? [/INST] Section 87. Words "is notified under clause (23EA) or clause (23EC) or clause (23ED) or clause (46)" shall be</s> |
<s>[INST] What does Section 88 of the Income Tax Act, 1961 state? [/INST] Section 88. Sub. for "under clause (46)" by the Act No. 8 of 2023, w.e.f. 1-4-2024.</s> |
<s>[INST] What does Section 89 of the Income Tax Act, 1961 state? [/INST] Section 89. Italicised words shall be ins. by the Act No. 15 of 2024, w.e.f. 1-4-2025.</s> |
<s>[INST] What does Section 90 of the Income Tax Act, 1961 state? [/INST] Section 90. Sub. for "under clause (46)" by the Act No. 8 of 2023, w.e.f. 1-4-2024.</s> |
<s>[INST] What does Section 91 of the Income Tax Act, 1961 state? [/INST] Section 91. Italicised words shall be ins. by the Act No. 15 of 2024, w.e.f. 1-4-2025.</s> |
<s>[INST] What does Section 92 of the Income Tax Act, 1961 state? [/INST] Section 92. Ins. by the Act No. 6 of 2022, w.e.f. 1-4-2022.
Conditions for applicability of sections 11 and 12.</s> |
<s>[INST] What does Section 12A of the Income Tax Act, 1961 state? [/INST] Section 12A. (1) The provisions of section 11 and section 12 shall not apply in relation to the income of any trust or
institution unless the following conditions are fulfilled, namely:—
(a) the person in receipt of the income has made an applic... |
<s>[INST] What does Section 93 of the Income Tax Act, 1961 state? [/INST] Section 93. Ins. by the Act No. 15 of 2024, w.e.f. 1-10-2024.</s> |
<s>[INST] What does Section 94 of the Income Tax Act, 1961 state? [/INST] Section 94. Ins. by the Act No. 8 of 2023, w.e.f. 1-10-2023.</s> |
<s>[INST] What does Section 95 of the Income Tax Act, 1961 state? [/INST] Section 95. Sub. by the Act No. 15 of 2024, w.e.f. 1-10-2024.</s> |
<s>[INST] What does Section 96 of the Income Tax Act, 1961 state? [/INST] Section 96. Sub. by the Act No. 6 of 2022, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 97 of the Income Tax Act, 1961 state? [/INST] Section 97. Ins. by the Act No. 8 of 2023, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 98 of the Income Tax Act, 1961 state? [/INST] Section 98. Second proviso omtt. by the Act No. 8 of 2023, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 99 of the Income Tax Act, 1961 state? [/INST] Section 99. Third proviso omtt. by the Act No. 8 of 2023, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 2 of the Income Tax Act, 1961 state? [/INST] Section 2. Ins. by the Act No. 8 of 2023, w.e.f. 1-10-2023.
3-4. Sub. by the Act No. 8 of 2023, w.e.f. 1-10-2023.</s> |
<s>[INST] What does Section 8 of the Income Tax Act, 1961 state? [/INST] Section 8. Ins. by the Act No. 6 of 2022, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 9 of the Income Tax Act, 1961 state? [/INST] Section 9. Ins. by the Act No. 6 of 2022, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 10 of the Income Tax Act, 1961 state? [/INST] Section 10. Ins. by the Act No. 15 of 2024, w.e.f. 1-10-2024.</s> |
<s>[INST] What does Section 11 of the Income Tax Act, 1961 state? [/INST] Section 11. Sub-sections (10) and (11) ins. by the Act No. 6 of 2022, w.e.f. 1-4-2023.
Special provisions relating to voluntary contributions received by electoral trust.</s> |
<s>[INST] What does Section 13B of the Income Tax Act, 1961 state? [/INST] Section 13B. Any voluntary contributions received by an electoral trust shall not be included in the total income of
the previous year of such electoral trust, if—
(a) such electoral trust distributes to any political party, registered under sec... |
<s>[INST] What does Section 14A of the Income Tax Act, 1961 state? [/INST] Section 14A. (1) 12[Notwithstanding anything to the contrary contained in this Act, for the purposes of] computing
the total income under this Chapter, no deduction shall be allowed in respect of expenditure incurred by the
assessee in relation ... |
<s>[INST] What does Section 12 of the Income Tax Act, 1961 state? [/INST] Section 12. Sub. for "For the purposes of" by the Act No. 6 of 2022, w.e.f. 1-4-2022.</s> |
<s>[INST] What does Section 13 of the Income Tax Act, 1961 state? [/INST] Section 13. Ins. by the Act No. 6 of 2022, w.e.f. 1-4-2022.
A.—Salaries
Salaries.</s> |
<s>[INST] What does Section 15 of the Income Tax Act, 1961 state? [/INST] Section 15. The following income shall be chargeable to income-tax under the head "Salaries"—
(a) any salary due from an employer or a former employer to an assessee in the previous year, whether paid
or not;
(b) any salary paid or allowed to him... |
<s>[INST] What does Section 14 of the Income Tax Act, 1961 state? [/INST] Section 14. Ins. by the Act No. 8 of 2023, w.e.f. 1-4-2023.</s> |
<s>[INST] What does Section 33B of the Income Tax Act, 1961 state? [/INST] Section 33B. Where the business of any industrial undertaking carried on in India is discontinued in any previous
year by reason of extensive damage to, or destruction of, any building, machinery, plant or furniture owned
by the assessee and use... |
<s>[INST] What does Section 35B of the Income Tax Act, 1961 state? [/INST] Section 35B. [Omitted by the Direct Tax Laws (Amendment) Act, 1987, as amended by the Direct Tax Laws
(Amendment) Act, 1989, w.e.f. 1-4-1989. Original section 35B was inserted by the Finance Act, 1968, w.e.f.
1-4-1968.]
Agricultural development ... |
<s>[INST] What does Section 35C of the Income Tax Act, 1961 state? [/INST] Section 35C. [Omitted by the Direct Tax Laws (Amendment) Act, 1987, as amended by the Direct Tax Laws
(Amendment) Act, 1989, w.e.f. 1-4-1989. Original section 35C was inserted by the Finance Act, 1968, w.e.f.
1-4-1968.]
Rural development allowan... |
<s>[INST] What does Section 35D of the Income Tax Act, 1961 state? [/INST] Section 35D. (1) Where an assessee, being an Indian company or a person (other than a company) who is resident in
India, incurs, after the 31st day of March, 1970, any expenditure specified in sub-section (2),—
(i) before the commencement of his... |
<s>[INST] What does Section 43B of the Income Tax Act, 1961 state? [/INST] Section 43B. Notwithstanding anything contained in any other provision of this Act, a deduction otherwise allowable
under this Act in respect of—
(a) any sum payable by the assessee by way of tax, duty, cess or fee, by whatever name called, unde... |
<s>[INST] What does Section 43C of the Income Tax Act, 1961 state? [/INST] Section 43C. (1) Where an asset [not being an asset referred to in sub-section (2) of section 45] which becomes the
property of an amalgamated company under a scheme of amalgamation, is sold after the 29th day of
February, 1988, by the amalgamat... |
<s>[INST] What does Section 43D of the Income Tax Act, 1961 state? [/INST] Section 43D. Notwithstanding anything to the contrary contained in any other provision of this Act,—
(a) in the case of a public financial institution or a scheduled bank or a co-operative bank other than a
primary agricultural credit society or... |
<s>[INST] What does Section 34 of the Income Tax Act, 1961 state? [/INST] Section 34. Words "public companies," shall be omitt. by the Act No. 15 of 2024, w.e.f. 1-4-2025.</s> |
<s>[INST] What does Section 35 of the Income Tax Act, 1961 state? [/INST] Section 35. Sub. for "a deposit taking non-banking financial company or a systemically important non-deposit
taking non-banking financial company" by the Act No. 8 of 2023, w.e.f. 1-4-2024.</s> |
<s>[INST] What does Section 44A of the Income Tax Act, 1961 state? [/INST] Section 44A. (1) Notwithstanding anything to the contrary contained in this Act, where the amount received during a
previous year by any trade, professional or similar association (other than an association or institution
referred to in clause (... |
<s>[INST] What does Section 44B of the Income Tax Act, 1961 state? [/INST] Section 44B. (1) Notwithstanding anything to the contrary contained in sections 28 to 43A, in the case of an assessee,
being a non-resident, engaged in the business of operation of ships, 44[other than cruise ships referred to in
section 44BBC, ... |
<s>[INST] What does Section 46A of the Income Tax Act, 1961 state? [/INST] Section 46A. Where a shareholder or a holder of other specified securities receives any consideration from any
company for purchase of its own shares or other specified securities held by such shareholder or holder of
other specified securities,... |
<s>[INST] What does Section 53 of the Income Tax Act, 1961 state? [/INST] Section 53. Ins. by the Act No. 8 of 2023, w.e.f. 1-4-2023.
Mode of computation.</s> |
<s>[INST] What does Section 50A of the Income Tax Act, 1961 state? [/INST] Section 50A. Where the capital asset is an asset in respect of which a deduction on account of depreciation under
clause (i) of sub-section (1) of section 32 has been obtained by the assessee in any previous year, the
provisions of sections 48 a... |
<s>[INST] What does Section 50B of the Income Tax Act, 1961 state? [/INST] Section 50B. (1) Any profits or gains arising from the slump sale effected in the previous year shall be chargeable to
income-tax as capital gains arising from the transfer of long-term capital assets and shall be deemed to be the
income of the ... |
<s>[INST] What does Section 64 of the Income Tax Act, 1961 state? [/INST] Section 64. Ins. by the Act No. 8 of 2023, w.e.f. 1-4-2024.
Relief of tax on capital gains in certain cases.</s> |
<s>[INST] What does Section 54A of the Income Tax Act, 1961 state? [/INST] Section 54A. [Omitted by the Finance (No. 2) Act, 1971, w.e.f. 1-4-1972. Original section was inserted by the
Finance Act, 1965, w.e.f. 1-4-1965. The Direct Tax Laws (Amendment) Act, 1989 has deleted section 54A,
dealing with relief of tax on ca... |
<s>[INST] What does Section 54C of the Income Tax Act, 1961 state? [/INST] Section 54C. [Omitted by the Finance Act, 1976, w.e.f. 1-4-1976. Original section was inserted by the Finance Act,
1972, w.e.f. 1-4-1973.]
Capital gain on compulsory acquisition of lands and buildings not to be charged in certain cases.</s> |
<s>[INST] What does Section 54D of the Income Tax Act, 1961 state? [/INST] Section 54D. (1) Subject to the provisions of sub-section (2), where the capital gain arises from the transfer by way of
compulsory acquisition under any law of a capital asset, being land or building or any right in land or
building, forming pa... |
<s>[INST] What does Section 54E of the Income Tax Act, 1961 state? [/INST] Section 54E. (1) Where the capital gain arises from the transfer of a long-term capital asset before the 1st day of
April, 1992, (the capital asset so transferred being hereafter in this section referred to as the original asset)
and the assesse... |
<s>[INST] What does Section 65 of the Income Tax Act, 1961 state? [/INST] Section 65. Omtt. by the Act No. 8 of 2023, w.e.f. 1-4-2023.
(3) 66[***]
_________________________________________________</s> |
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