Income Tax Act 1961
( Compilation of important Sections )
Section 6 : Residence in India.
Section 17 : Salary, perquisite and profits in lieu of salary
Section 24 : Deductions from income from house property
Section 43AA : Taxation of foreign exchange fluctuation.
Section 43B : Certain deductions to be only on actual payment.
Section 44AA : Maintenance of accounts by certain persons carrying on profession or business.
Section 44AB Income Tax Act 1961 ; FA 2018
Section 44AD Special provision for computing profits and gains of business on presumptive basis.
Section 43CB : Computation of income from construction and service contracts.
Section 54 EC Income Tax Act : Capital gain not to be charged on investment in certain bonds.
Section 80D of Income tax Act 1961 : Deduction in respect of health insurance premia.
Section 80EEA : Deduction for interest on loan taken for residential house property.
Section 80PA : Deduction in respect of certain income of Producer Companies
Section 80TTA Deduction of Income Tax : Saving Bank Interest Income
Section 80EE of Income Tax Act : Deduction of House Loan Interest
Section 80TTB :Deduction in respect of interest on deposits in case of senior citizens.
Section 89 : Relief when salary, etc., is paid in arrears or in advance.
Section 112A : Tax on long-term capital gains in certain cases.
Section 154 : Rectification of mistake.
Section 156 : Notice of demand
Section 194IB : Payment of rent by certain individuals or Hindu undivided family
Section 194M : Payment of certain sums by certain individuals or Hindu undivided family.
Section 194N : Payment of certain amounts in cash
Section 206CC : Requirement to furnish Permanent Account number by collectee.
Section 211 : Installments of advance tax and due dates
Section 234E : Fee for default in furnishing statements.
Section 234F : Fees for default in furnishing return of income
Section 269SU Income Tax : Acceptance of payment through prescribed electronic modes.
Section 271DB Income Tax Act : Penalty for failure to comply with provisions of section 269SU
Section 272B : Penalty for failure to comply with the provisions of section 139A.