Income Tax Act, 1961


(Act no. 43 of 1961)

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CONTENTS

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Sections

Particulars

271 Failure to furnish returns, comply with notices, Concealment of Income, etc.
271A Failure to keep, maintain or retain books of account, documents, etc.
271B Failure to get accounts audited.
271BB Failure to subscribe to the eligible issue of capital.
271C Penalty for Failure to Deduct Tax at Source.
271D Penalty for Failure to Comply with the provisions of section 269SS.
271E Penalty for Failure to Comply with the provisions of section 269T.
271F Penalty for Failure to furnish return of Income.
272 Omitted.
272A Penalty for failure to Answer Questions, Sign Statements, Furnish Information, Returns or Statements, Allow Inspections, etc.
272AA Penalty for Failure to comply with the provisions of section 133B.
272B Omitted.
272BB Penalty for Failure to comply with the provisions of section 203A.
273 False Estimate of, or Failure to Pay, Advance Tax.
273A Power to reduce or waive penalty, etc., in certain cases.
273B Penalty not to be imposed in certain cases.
274 Procedure.
275 Bar of Limitation for Imposing Penalties.
275A Contravention of order made under Sub-Section (3) of Section 132.
276 Removal, Concealment, Transfer or Delivery of property to thwart Tax recovery.
276A Failure to comply with the provisions of Sub-Sections (1) and (3) of Section 178.
276AA Omitted.
276AB Failure to comply with the provisions of sections 269UC, 269UE and 269UL.
276B Failure to pay tax to the credit of Central Government under chapter XII-D or XVII-B.
276BB Failure to pay the Tax collected at source.
276C Wilful Attempt to Evade Tax, Etc.
276CC Failure to Furnish Returns of Income.
276CCC Failure to Furnish Return of Income in Search Cases.
276D Failure to Produce Accounts and Documents.
276DD Omitted.
276E Omitted.
277 False Statement in Verification, Etc.
278 Abetment of false return, etc.
278A Punishment for Second and Subsequent Offences.
278AA Punishment not to be imposed in certain cases.
278B Offences by Companies.
278C Offences by hindu Undivided Families.
278D Presumption as to Assets, Books of Account, Etc., in certain cases.
278E Presemption as to culpable mental state.
279 Prosecution to be at Instance of Chief Commissioner or Commissioner.
279A Certain Offences to be Non-Cognizable.
279B Proof of Entries in records or documents.
280 Disclosure of Particulars by Public Servants.
280A-280X Omitted.
280Y Omitted.
280Z Omitted.
280ZA Omitted.
280ZB Omitted.
280ZC Omitted.
280ZD Omitted.
280ZE Omitted.
281 Certain Transfers to be void.
281A Repealed by the Benami Transactions (Prohibition) Act, 1988.
281B Provisional attachment to protect revenue in certain cases.
282 Service of notice Generally.
283 Service of notice when family is disrupted or firm, etc., is dissolved.
284 Service of notice in the case of discontinued business.
285 Omitted.
285A Omitted.
285B Submission of Statements by Producers of Cinematograph Films.
286 Omitted
287 Publication of Information respecting assessees in certain cases.
287A Appearance by Registered valuer in certain matters.
288 Appearance by Authorised Representative.
288A Rounding off of Income.
288B Rounding off of Tax, etc.
289 Receipt to be given.
290 Indemnity.
291 Power to tender immunity from prosecution.
292 Cognizance of offences.
292A Section 360 of the code of criminal procedure, 1973, and the probation of Offenders Act, 1958, Not to Apply.
292B Return of Income, Etc., nto to be invalid on certain grounds.
293 Bar of Suits in Civil Courts.
293A Power to make exemption, etc., in relation to participation in the business prospecting for, extraction, etc., of mineral oils.
293B Power of Central Government or Board to condone delays in obtaining approval.
294 294 Act to have effect peinding legislative provision for charge of Tax.
294A Power to make exemption, etc., in relation to certain union territories.
295 Power to make rules.
296 Rules and certain notifications to be placed before parliament.
297 Repeals and Savings.
298 Power to remove difficulties.
SCHEDULES
Schedule 1
Part A
1 A Life Insurance Business profits of Life Insurance Business to be Computed Separately.
2 Insurance Business A Life Insurance Business Computation of profits of Life Insurance Business.
3 Omitted.
4 Adjustment of  Tax paid by deduction at source.
Part B
5 Computation of profits and gains of other Insurance Business.
Part C
6 Profits and Gains of Non-Resident person.
7 Interpretation.
Schedule 2
Part 1
1 Definitions.
2 Issue of Notice.
3 When certificate may be executed.
4 Mode of Recovery.
5 Interest, Costs and Charges Recoverable.
6 Purchaser's Title.
7 Suit against pruchaser nto maintainable on ground of purchase being made on behalf of plaintiff.
8 Disposal of Proceeds of execution.
9 General Bar to jurisdiction of Civil Court, save where fraud alleged.
10 Property exempt from attachment.
11 Investigation by Tax recovery officer.
12 Removal of attachment on satisfaction or cancellation of certificate.
13 Officer Entitled to Attach and Sell.
14 Defaulting pruchaser answerable for  loss on resale.
15 Adjournment or Stoppage of sale.
16 Private Alienation to be void in certain cases.
17 Prohibition against bidding or purchase by officer.
18 Prohibition against Sale on Holidays.
19 Assistance by Police.
19A Entrustment of certain functions by tax recovery officer.
Part II
20 Arrant.
21 Service of copy of warrant.
22 Attachment.
23 Property in defaulter's possession.
24 Agricultural Produce.
25 Provisions as to Agricultural produce under attachment.
26 Debts and Shares, etc.
27 Attachment of Decree.
28 Share in Movable Property.
29 Salary of Government Servants.
30 Attachment of Negotiable Instrument.
31 Attachment of property in custody of Court or public officer.
32 Attachment of partnership property.
33 Inventory.
34 Attachment not to be excessive.
35 Seizure between sunrise and sunset.
36 Power to break open doors, etc.
37 Sale.
38 Issue of proclamation.
39 Proclamation How Made.
40 Sale after fifteen days.
41 Sale of Agricultural Produce.
42 Special Provisions relating to growing crops.
43 Sale to be by Auction.
44 Sale by Public Auction.
45 Irregularity not to vitiate sale, but any person injured may sue.
46 Negotiable Instruments and Shares in a Corporation.
47 Order for Payment of Coin or Currency notes to the Assessing Officer.
Part 3
48 Attachment.
49 Service of notice of attachment.
50 Proclamation of Attachment.
51 Attachment to relate back from the date of service of notice.
52 Sale and Proclamation of Sale.
53 Contents of Proclamation.
54 Made of making proclamation.
55 Time of Sale.
56 Sale to be by Auction.
57 Deposit by purchaser and resale in default.
58 Procedure in default of payment.
59 Authority to Bid.
60 Application to set aside sale of immovable property on deposit.
61 Application to set aside sale of immovable property on ground of Non-Service of notice or Irregularity.
62 Setting aside sale where defaulter has no saleable interest
63 Confirmation of Sale.
64 Return of purchase money in certain cases.
65 Sale certificate.
66 Postponement of sale to enable defaulter to raise amount due under certificate.
67 Fresh proclamation before Re-Sale.
68 Bid of Co-Sharer to have preference.
68A Acceptance of property in satisfaction of amount due from the defaulter.
68B Time-Limit for sale of attached immovable property.
Part 4
69 Appointment of receiver for business.
70 Appointment of receiver for immovable property.
71 Powers of receiver.
72 Withdrawal of Management.
Part 5
73 Notice to show cause.
74 Hearing.
75 Custody pending hearing.
76 Order of detention.
77 Detention in and release from prison.
78 Release.
79 Release on ground of  illness.
80 Entry into dwelling house.
81 Prohibition against arrest of women or minors, etc.
Part 6
82 Officers deemed to be acting judicially.
83 Power to take evidence.
84 Continuance of certificate.
85 Procedure on death of defaulter.
86 Appeals.
87 Review.
88 Recovery from surety.
89 Omitted.
90 Subsistenace allowance.
91 Forms.
92 Power to make rules.
93 Saving Regarding Charge.
94 Continuance of certain pending proceedings and  power to remove difficulties.
Schedule 3 Distraint and Sale.
Schedule 4
Part A
1 Application of part.
2 Definitions.
3 According and withdrawal of recognition.
4 Conditions to be satisfied by recognised Provident Funds.
5 Relaxation of conditions.
6 Employer's annual contributions, when deemed to be Income received by Employee.
7 Exemption for employee's contributions.
8 Exclusion from total Income of Accumulated balance.
9 Tax on Accumulated balance.
10 Deduction at source of Tax payable on accumulated balance.
11 Treatment of Balance in newly recognised provident fund.
12 Accounts of recognised provident funds.
13 Appeals.
14 Treatment of fund transferred by employer to trustee.
15 Provisions relating to rules.
Part B
1 Definitions.
2 Approval and Withdrawal of  approval.
3 Conditions for approval.
4 Application for approval.
5 Contributions by employer when deemed to be Income of employer.
6 Deduction of tax on contributions paid to an employee.
7 Deduction from pay of and contributions on behalf of employee to be included in return.
8 Appeals.
9 Liability of trustees on cessation of approval.
10 Particulars to be furnished in respect of superannuation funds.
11 Provisions relating to rules.
Part C
1 Definitions.
2 Approval and withdrawal of approval.
3 Conditions from approval.
4 Application for approval.
5 Gratuity deemed to be salary.
6 Liability of trustees on cessation of approval.
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