Section 9 Income Tax Act 2025 Income deemed to accrue or arise in India. 9.(1) The income referred to in sub-sections (2) to (8) shall be deemedto accrue or arise in India. (2) The income accruing or arising, directly or indirectly, through or from— (a) any asset or source of income in India; or (b)… Read More »
Section 8 Income Tax Act 2025 Income on receipt of capital asset or stock-in-trade by specified person from specified entity. 8. (1) Where a specified person receives during the tax 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… Read More »
Section 7 Income Tax Act 2025 Income deemed to be received and dividend deemed to be income in a tax year. 7. (1) The following incomes shall be deemed to be received in the tax year:— (a) the annual accretion in that year to the balance at the credit of an employee participating in a… Read More »
Section 6 Income Tax Act 2025 Residence in India. 6.(1) For the purposes of this Act, residential status in India in a tax year of a person shall be determined as per the provisions of this section. (2) An individual shall be resident in India in a tax year, if he— (a) is in India… Read More »
Section 5 Income Tax Act 2025 Scope of total income. 5. (1) Subject to the provisions of this Act, the total income of any tax year of a person, who is a resident, includes all income from whatever source derived, which— (a) is received or deemed to be received in India in that year by or on behalf… Read More »
Section 4 Income Tax Act 2025 CHAPTER II BASIS OF CHARGE Charge of Income-tax. 4.(1) Where any Central Act enacts that income-tax shall be charged for any tax year at any rate or rates, income-tax for such tax year shall be charged at that rate or those rates in accordance with and subject to the… Read More »
Section 3 Income Tax Act 2025 Definition of “tax year” . 3. (1) For the purposes of this Act, “tax year” means the twelve months period of the financial year commencing on the 1st April. (2) In the case of a business or profession newly set up, or a source of income newly coming into existence… Read More »
Section 2 Income Tax Act 2025 Definitions. 2. In this Act, unless the context otherwise requires,— (1) “accountant” shall have the meaning assigned to it in section 515(3)(b); (2) “Additional Commissioner” means a person appointed to be an Additional Commissioner of Income-tax under section 237(1); (3) “Additional Director” means a person appointed to be an Additional Director of… Read More »
Section – 1, Income-Tax Act, 2025 INCOME-TAX ACT, 2025 ACT NO. 30 OF 2025 An Act to consolidate and amend the law relating to income-tax BE it enacted by Parliament in the Seventy-sixth Year of the Republic of India, as follows:- CHAPTER I PRELIMINARY Short title, extent and commencement. 1.(1) This Act may be called… Read More »
7th proviso of section 139(1) Income tax act 1961 7th proviso of section 139(1) Income tax act 1961 As per 7th Proviso of section 139(1) Income Tax Act 1961 ITR filing is mandatory even if Income is below basic exemption limit of Rs 4 Lakh in New regime and Rs 2.5 Lakh in old regime… Read More »