Income tax bare act 2011 pdf download

Some of the income tax law questions and answers are mentioned below. You can download the QnA in income tax law pdf form. It will help you to understand question paper pattern and type of income tax law question and answer asked in B. In the above article, a student can download income tax law notes for B. Income Tax Law study material includes income tax law notes, income tax law books, income tax law syllabus, income tax law question paper, income tax law case study, income tax law questions and answers, income tax law courses in income tax law pdf form.

Come on! Full Document: Income Tax Act. Previous Versions. Notes: See coming into force provision and notes, where applicable. Shaded provisions are not in force.

Chapter-wise list of all sections under Income-tax Act as amended by the Finance Act, These are applicable for Assessment Year AY to assess income earned during previous year Hyatt,Bruce R. Table of Contents Income Tax Law Notes can be downloaded in income tax law pdf from the below article.

Deduction of tax on royalties, etc. Share of member of an association of persons or body of individuals in the income of the association or body. Deduction from tax on certain securities. Rebate to be allowed in computing incometax. Rebate on educational expenses in certain cases.

Rebate on life insurance premia, contribution to provident fund, etc. Rebate in respect of investment in certain new shares or units. Rebate of incometax in case of individuals of sixtyfive years or above. Rebate of incometax in case of women below sixtyfive years. Rebate of incometax in case of certain individuals.

Rebate in respect of securities transaction tax. Relief when salary, etc. Tax relief in relation to export turnover. Agreement with foreign countries or specified territories. Adoption by Central Government of agreement between specified associations for double taxation relief. Countries with which no agreement exists. Computation of income from international transaction having regard to arm's length price. Meaning of associated enterprise.

Meaning of international transaction. Meaning of specified domestic transaction. Computation of arm's length price. Reference to Transfer Pricing Officer. Power of Board to make safe harbour rules. Maintenance and keeping of information and document by persons entering into an international transaction. Report from an accountant to be furnished by persons entering into international transaction. Definitions of certain terms relevant to computation of arm's length price, etc.

Avoidance of incometax by transactions resulting in transfer of income to nonresidents. Avoidance of tax by certain transactions in securities. Charge of Supertax. Total income for Supertax. Applicability of Act to Supertax. Avoidance of Supertax. Income not chargeable to Supertax. Donations for charitable purposes. Newly established industrial undertakings or hotels. Share from registered Firm. Relief for salary, etc. Incometax on undistributed income of certain companies. Special provisions for certain companies.

Period of limitation for making orders under section Approval of Inspecting Assistant Commissioner for orders under section Savings for company in which public are substantially interested. Determination of tax where total income includes income on which no tax is payable. Tax on accumulated balance of recognised provident fund. Tax on shortterm capital gains in certain cases.

Tax on longterm capital gains. Tax on long term capital gains in certain cases. Tax in the case of block assessment of search cases. Tax on capital gains in cases of assessees other than companies. Tax on capital gains in case of companies. Tax on dividends, royalty and technical service fees in the case of foreign companies. Tax on income from units purchased in foreign currency or capital gains arising from their transfer.

Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer. Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer. Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer.

Tax on profits and gains of life insurance business. Tax on income of certain manufacturing domestic companies. Tax on income of certain domestic companies. Tax on income of new manufacturing domestic companies. Tax on winnings from lotteries, crossword puzzles, races including horse races, card games and other games of any sort or gambling or betting of any form or nature whatsoever.

Tax on nonresident sportsmen or sports associations. Tax on income from units of an openended equity oriented fund of the Unit Trust of India or of Mutual Funds. Anonymous donations to be taxed in certain cases.

Tax on certain dividends received from foreign companies. Tax on certain dividends received from domestic companies. Tax on income referred to in section 68 or section 69 or section 69A or section 69B or section 69C or section 69D. Tax on income from patent. Tax on income from transfer of carbon credits. Special provision for computation of total income of nonresidents. Tax on investment income and longterm capital gains.

Capital gains on transfer of foreign exchange assets not to be charged in certain cases. Return of income not to be filed in certain cases. Benefit under Chapter to be available in certain cases even after the assessee becomes resident.

Chapter not to apply if the assessee so chooses. Special provisions relating to certain companies. Deemed income relating to certain companies. Tax credit in respect of tax paid on deemed income relating to certain companies. Special provision for payment of tax by certain companies. Special provisions for payment of tax by certain persons other than a company. Tax credit for alternate minimum tax.

Application of other provisions of this Act. Application of this Chapter to certain persons. Interpretation in this Chapter. Conversion of an Indian branch of foreign company into subsidiary Indian company. Foreign company said to be resident in India.

Special provision for computation of income in certain cases. Special provision for disallowance of deductions and rebate of incometax. Bar of proceedings in certain cases.

Tax on distributed profits of domestic companies. Interest payable for nonpayment of tax by domestic companies. Tax on distributed income to shareholders. Interest payable for nonpayment of tax by company. When company is deemed to be assessee in default. Tax on distributed income to unit holders. Interest payable for nonpayment of tax.

Unit Trust of India or Mutual Fund to be an assessee in default. Tax on income in certain cases. Tax on income of unit holder and business trust. Tax on income of investment fund and its unit holders. Computation of profits and gains from the business of operating qualifying ships. Operating ships.

Qualifying company. Qualifying ship. Manner of computation of income under tonnage tax scheme. Tonnage income. Computation of tonnage income. Calculation in case of joint operation, etc.

Relevant shipping income. Treatment of common costs. General exclusion of deduction and set off, etc. Exclusion of loss. Chargeable gains from transfer of tonnage tax assets. Exclusion from provisions of section JB. Method and time of opting for tonnage tax scheme. Period for which tonnage tax option to remain in force.

Renewal of tonnage tax scheme. Prohibition to opt for tonnage tax scheme in certain cases. Transfer of profits to Tonnage Tax Reserve Account.

Minimum training requirement for tonnage tax company. Limit for charter in of tonnage. Maintenance and audit of accounts. Determination of tonnage. Effect of temporarily ceasing to operate qualifying ships. Avoidance of tax. Exclusion from tonnage tax scheme.

Charge of fringe benefit tax. Fringe benefits. Value of fringe benefits. Return of fringe benefits. Best judgment assessment. Fringe benefits escaping assessment. Issue of notice where fringe benefits have escaped assessment.

Payment of fringe benefit tax. Advance tax in respect of fringe benefits. Interest for default in furnishing return of fringe benefits. Recovery of fringe benefit tax by the employer from the employee. Deemed payment of tax by employee. Chapter XIIH not to apply after a certain date. Incometax authorities. Appointment of incometax authorities. Control of incometax authorities. Instructions to subordinate authorities. Jurisdiction of incometax authorities. Jurisdiction of Commissioners. Jurisdiction of Commissioners Appeals.

Jurisdiction of Appellate Assistant Commissioners. Jurisdiction of Inspecting Assistant Commissioners. Jurisdiction of Assessing Officers. Powers of Commissioner respecting specified areas, cases, persons, etc. Powers of Board respecting specified area, classes of persons or incomes. Powers to transfer cases. Functions of Inspectors of Incometax. Change of incumbent of an office. Commissioner competent to perform any function or functions. Incometax Officer competent to perform any function or functions.

Power regarding discovery, production of evidence, etc. Search and seizure. Powers to requisition books of account, etc. Application of seized or requisitioned assets. Power to call for information. Power of survey. Power to collect certain information.

Power to inspect registers of companies. Proceedings before incometax authorities to be judicial proceedings. Disclosure of information prohibited. Disclosure of information respecting assessees.

Return of income. Permanent account number. Quoting of Aadhaar number. Scheme for submission of returns through Tax Return Preparers. Power of Board to dispense with furnishing documents, etc. Filing of return in electronic form. Return by whom to be signed.

Provisional assessment. Provisional assessment for refund. Inquiry before assessment. Estimate by Valuation Officer in certain cases. Power of Joint Commissioner to issue directions in certain cases. Reference to Deputy Commissioner in certain cases. Reference to Principal Commissioner or Commissioner in certain cases. Rererence to dispute resolution panel. Method of accounting.

Method of accounting in certain cases. Taxability of certain income. Reopening of assessment at the instance of the assessee. Income escaping assessment. Issue of notice where income has escaped assessment. Timelimit for notice. Provision for cases where assessment is in pursuance of an order on appeal, etc. Sanction for issue of notice.

Other provisions. Timelimit for completion of assessments and reassessments. Assessment in case of search or requisition.

Timelimit for completion of assessment under section A. Assessment of income of any other person. Prior approval necessary for assessment in cases or requisition. Rectification of mistake. Other amendments. Notice of demand. Intimation of loss. Intimation of assessment of firm.

Procedure when assessee claims identical question of law is pending before High Court or Supreme Court. Procedure when in an appeal by revenue an identical question of law is pending before Supreme Court. Assessment of undisclosed income as a result of search.

Computation of undisclosed income of the block period. Procedure for block assessment. Undisclosed income of any other person. Timelimit for completion of block assessment. Certain interests and penalties not to be levied or imposed. Levy of interest and penalty in certain cases. Authority competent to make the block assessment. Chapter not to apply after certain date.

Legal representatives. Representative assessee. Liability of representative assessee. Right of representative assessee to recover tax paid. Who may be regarded as agent. Charge of tax where share of beneficiaries unknown. Charge of tax in case of oral trust. Case where part of trust income is chargeable. Direct assessment or recovery not barred. Remedies against property in cases of representative assessees. Charge of tax in the case of a firm.

Charge of tax where shares of members in association of persons or body of individuals unknown, etc. Liability of partners of limited liability partnership in liquidation.

Right of executor to recover tax paid. Succession to business otherwise than on death. Assessment after partition of a Hindu undivided family. Shipping business of nonresidents. Recovery of tax in respect of nonresident from his assets. Assessment of persons leaving India.

Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose. Assessment of persons likely to transfer property to avoid tax. Discontinued business. Association dissolved or business discontinued.

Company in liquidation. Liability of directors of private company in liquidation. Royalties or copyright fees for literary or artistic work. Consideration for knowhow. Interest on taxfree securities of a State Government. Assessment of registered firms.

Assessment of unregistered firms. Assessment as a firm. Assessment when section not complied with. Cancellation of registration. Change in constitution of a firm. Succession of one firm by another firm. Joint and several liability of partners for tax payable by firm. Firm dissolved or business discontinued. Provisions applicable to past assessments of firms. Deduction at source and advance payment.

Direct payment. Payment of accumulated balance due to an employee. Interest on securities. Interest other than "Interest on securities". Winnings from lottery or crossword puzzle. Winnings from horse race. Payments to contractors. Insurance commission. Payments to nonresident sportsmen or sports associations. Payments in respect of deposits under National Savings Scheme, etc. Commission, etc. Commission or brokerage. Fees for professional or technical services.

Income in respect of units. Payment of compensation on acquisition of capital asset. Payment of compensation on acquisition of certain immovable property. Income by way of interest from infrastructure debt fund. Certain income from units of a business trust.

Income in respect of units of investment fund. Other sums. Income payable "net of tax". Interest or dividend or other sums payable to Government, Reserve Bank or certain corporations. Income in respect of units of nonresidents.

Income from units. Income from foreign currency bonds or Global Depository Receipts of Indian company. Income of Foreign Institutional Investors from securities. Certificate for deduction at lower rate.

No deduction to be made in certain cases. Tax deducted is income received. Credit for tax deducted. Duty of person deducting tax. Processing of statements of tax deducted at source. Consequences of failure to deduct or pay. Deduction only one mode of recovery. Certificate for tax deducted. Tax deduction and collection account number. Furnishing of statement of tax deducted. Meaning of "person responsible for paying".

Bar against direct demand on assessee. Persons deducting tax to furnish prescribed returns. Furnishing of quarterly return in respect of payment of interest to residents without deduction of tax. Requirement to furnish Permanent Account Number. Person paying dividend to certain residents without deduction of tax to furnish prescribed return. Profits and gains from the business of trading in alcoholic liquor, forest produce, scrap, etc.

Taxcollection account number. Processing of statements of tax collected at source. Liability for payment of advance tax. Conditions of liability to pay advance tax. Computation of advance tax. Computation and payment of advance tax by assessee. Payment of advance tax by the assessee of his own accord or in pursuance of order of Assessing Officer. Instalments of advance tax and due dates. Estimate by assessee. Commission receipts. Interest payable by Government. Interest payable by assessee.

Interest payable by assessee in case of underestimate, etc. Interest payable by assessee when no estimate made. When assessee deemed to be in default. Credit for advance tax. When tax payable and when assessee deemed in default. Penalty payable when tax in default. Certificate to Tax Recovery Officer. Tax Recovery Officer by whom recovery is to be effected.

Validity of certificate and cancellation or amendment thereof. Stay of proceedings in pursuance of certificate and amendment or cancellation thereof.

Other modes of recovery. Recovery through State Government. Recovery of Indian tax in Pakistan and Pakistan tax in India. Recovery of tax in pursuance of agreements with foreign countries. Recovery of penalties, fine, interest and other sums. Tax clearance certificate. Restrictions on registration of transfers of immovable property in certain cases.

Period for commencing recovery proceedings. Recovery by suit or under other law not affected. Recovery of tax payable under provisional assessment. Tax paid by deduction or advance payment. Interest for defaults in furnishing return of income. Interest for defaults in payment of advance tax. Interest for deferment of advance tax. Interest on excess refund. Relief to shareholders in respect of agricultural incometax attributable to dividends. Income Tax Act The Finance Act is now available Chapter wise for download as below:.

The following Act of Parliament received the assent of the President on the 31st March, , and is hereby published for general information:—. A n Act to give effect to the financial proposals of the Central Government for the financial year