Section 121 Income Tax Act 2025 Submission of return for losses. 121. Irrespective of anything contained in this Chapter, no loss which has not been determined in pursuance of a return filed under section 263(1), shall be carried forward and set off under section 111(1) or 112(1) or 113(2) or 114(2) or 115(2).
Section 168 Income Tax Act 2025 Advance pricing agreement. 168. 11 (1) The Board, with the approval of the Central Government, may enter into an advance pricing agreement with any person, determining the— (a) arm’s length price or specifying the manner in which the arm’s length price is to be determined, in relation to an international transaction… Read More »
Section 122 Income Tax Act 2025 CHAPTER VIII Deductions to be made in Computing Total Income A.-General Deductions to be made in computing total income. 10 122. 9 (1) In computing the total income of an assessee, the deduction specified in this Chapter shall be allowed from his gross total income, as per and subject to the provisions… Read More »
Section 123 Income Tax Act 2025 B.-Deductions in respect of certain payments Deduction for life insurance premia, deferred annuity, contributions to provident fund, etc. 123. An individual or a Hindu undivided family, shall be allowed a deduction of the whole of the amount paid or deposited in the tax year, being the aggregate of the sums… Read More »
Section 124 Income Tax Act 2025 Deduction in respect of employer and assessee contribution to pension scheme of Central Government. 14 124. (1) Where in the case of an assessee, being an individual employed by any employer, if the employer makes any contribution in his account under a pension scheme notified by the Central Government, the assessee… Read More »
New PAN Form 96 Income Tax Rules 2026 pdf Download for non-individual foreign entities FORM NO. 96 [See rule 158] Application for Allotment of Permanent Account Number [For an Entity incorporated outside India/ an Unincorporated Entity formed outside India] Under the Income Tax Rules, 2026, Form No. 96 is the newly introduced, category-specific application form… Read More »
Section 170 Income Tax Act 2025 Secondary adjustment in certain cases. 14 170. (1) An assessee shall make a secondary adjustment in every case where primary adjustment of one crore rupees or more to the transfer price— (a) has been made by the assessee on his own in his return of income; (b) made by the Assessing Officer… Read More »
Section 171 Income Tax Act 2025 Maintenance, keeping and furnishing of information and document by certain persons. 171. (1) Every person, who— (a) has entered into an international transaction or specified domestic transaction; or (b) is a constituent entity of an international group, shall keep and maintain such information and document in respect thereof and for… Read More »
Section 169 Income Tax Act 2025 Effect to advance pricing agreement. 12 169. 13 (1) If a return of income for any tax year covered by an advance pricing agreement has been furnished by any person, before the date of entering into the said agreement, he shall, irrespective of anything to the contrary contained in section 263, furnish a modified… Read More »
Section 172 Income Tax Act 2025 Report from an accountant to be furnished by persons entering into international transaction or specified domestic transaction. 17 172. 18 Every person who has entered into an international transaction or specified domestic transaction during a tax year shall obtain a report from an accountant and furnish such report on or before the specified… Read More »