Income Tax Act, 2025

Professionals Series

Complete Course on Income Tax Act, 2025

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Course Overview

The Income Tax Act, 2025 course is designed for Tax Practitioners and Professionals aiming to excel in their careers. This comprehensive course covers various chapters that are crucial for understanding income tax laws and regulations.

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Chapter 1: Introduction
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Sec 1	Short Title, Extent and Commencement	Lecture 1
Sec 2	Definitions
Sec 3	Definition of Tax Year
Sec 4	Charges of Income Tax	Lecture 2
Sec 5	Scope of Total Income	Lecture 3

Chapter 2: Basis of Charge & Residential Status
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Sec 6	Residential Status	Lecture 1
		Lecture 2
Sec 7	Income deemed to be received and dividend deemed to be income in a tax year.
Sec 8	Income on receipt of capital asset or stock-in-trade by specified person from specified entity	Lecture 3
Sec 9	Income deemed to accrue or arise in India.	Lecture 4
		Lecture 5
		Lecture 6
		Lecture 7
		Lecture 8
		Lecture 9

Chapter 3: Income from Salary
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Sec 13	Heads of Income	Lecture 1
Sec 14	Income not forming part of Total Income
Sec 15	Salaries	Lecture 2
Sec 16	Income from Salary
Sec 17	Perquisites	Lecture 3
Sec 17	Perquisites	Lecture 4
Sec 17	Perquisites	Lecture 5
Sec 17	Perquisites	Lecture 6
Sec 17	Perquisites	Lecture 7
Sec 17	Perquisites	Lecture 8
Sec 18	Profit in Lieu of Salary	Lecture 9
Sec 19	Dedcutions from Salary	Lecture 10
Sec 19	Deductions from Salary	Lecture 11

Chapter 4: Income from House Property
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Sec 20	Income from house property.	Lecture 1
Sec 21	Determination of annual value.
Sec 22	Deductions from income from house property.	Lecture 2
Sec 23	Arrears of rent and unrealised rent received.
Sec 24	Property owned by co-owners.
Sec 25	Interpretation.

Chapter 5: Profit and Gains of Business or Profession
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Sec 26	Income under head “Profits and gains of business or profession	Lecture 1
Sec 27	Manner of computing profits and gains of business or profession.
Sec 28	Rent, rates, taxes, repairs and insurance
Sec 29	Deductions related to employee welfare.	Lecture 2
Sec 30	Deduction on certain premium	Lecture 3
Sec 31	Deduction for bad debt and provision for bad and doubtful debt.
Sec 32	Other deductions	Lecture 4
		Lecture 5
Sec 33	Deduction for depreciation	Lecture 6
		Lecture 7
Sec 34	General conditions for allowable deductions.	Lecture 8
Sec 35	Amounts not deductible in certain circumstances.
Sec 36	Expenses or payments not deductible in certain circumstances.	Lecture 9
Sec 37	Certain deductions allowed on actual payment basis only.	Lecture 10
Sec 38	Certain sums deemed as profits and gains of business or profession.	Lecture 11
Sec 39	Computation of actual cost.	Lecture 12
		Lecture 13
Sec 40	Special provision for computation of cost of acquisition of certain assets	Lecture 14
Sec 41	Written down value of depreciable asset.	Lecture 15
Sec 42	Capitalising the impact of foreign exchange fluctuation	Lecture 16
Sec 43	Taxation of foreign exchange fluctuation
Sec 44	Amortisation of certain preliminary expenses.	Lecture 17
Sec 45	Expenditure on scientific research	Lecture 18
Sec 46	Capital expenditure of specified business.	Lecture 19
Sec 47	Expenditure on agricultural extension project and skill development project.	Lecture 20
Sec 48	Tea development account, coffee development account and rubber development account.
Sec 49	Site Restoration Fund.	Lecture 21
Sec 50	Special provision in the case of trade, profession or similar association.	Lecture 22
Sec 51	Amortisation of expenditure for prospecting certain minerals.	Lecture 23
Sec 52	Amortisation of expenditure for telecommunications services, amalgamation, demerger, scheme of voluntary retirement, etc.	Lecture 24
Sec 53	Full value of consideration for transfer of assets other than capital assets in certain cases.	Lecture 25
Sec 54	Business of prospecting for mineral oils.	Lecture 26
Sec 55	Insurance business.	Lecture 27
Sec 56	Special provision in case of interest income of specified financial institutions.	Lecture 28
Sec 57	Revenue recognition for construction and service contracts
Sec 58	Special provision for computing profits and gains of business or profession on presumptive basis in case of certain residents.	Lecture 29
Sec 59	Computation of royalty and fee for technical services in hands of non-residents.	Lecture 30
Sec 60	Deduction of head office expenditure in case of non-residents	Lecture 31
Sec 61	Special provision for computation of income on presumptive basis in respect of certain business activities of certain non-residents.	Lecture 32
Sec 62	Maintenance of books of account.	Lecture 33
Sec 63	Tax audit.	Lecture 34
Sec 64	Special provision for computing deductions in case of business reorganisation of co-operative banks
Sec 65	Interpretation for the purposes of section 64.
Sec 66	Interpretation.

Chapter 6: Capital Gains
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Chapter 7: Income from Other Sources
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Sec 92	Income from other sources	Lecture 1
Sec 93	Deductions.	Lecture 2
Sec 94	Amounts not deductible.	Lecture 3
Sec 95	Profits chargeable to tax.	Lecture 4

Chapter 8: Clubbing of Income
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Sec 96	Transfer of income without transfer of assets	Lecture 1
Sec 97	Chargeability of income in transfer of assets.
Sec 98	“Transfer” and “revocable transfer” defined.	Lecture 2
Sec 99	Income of individual to include income of spouse, minor child, etc.
Sec 100	Liability of person in respect of income included in income of another person.

Chapter 9: Aggregaton of Income
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Sec 101	Total income.	Lecture 1
Sec 102	Unexplained credits.
Sec 103	Unexplained investment.
Sec 104	Unexplained asset.
Sec 105	Unexplained expenditure.
Sec 106	Amount borrowed or repaid through negotiable instrument, hundi, etc.
Sec 107	Charge of tax

Chapter 10: Set off & Carry Forward of Losses
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Sec 108	Set off of losses under same head of income.	Lecture 1
Sec 109	Set off of losses under any other head of income
Sec 110	Carry forward and set off of loss from house property	Lecture 2
Sec 111	Carry forward and set off of loss from Capital gains
Sec 112	Carry forward and set off of business loss.	Lecture 3
Sec 113	Set off and carry forward of losses computed in respect of speculation business
Sec 114	Set off and carry forward of losses computed in respect of specified business.
Sec 115	Set off and carry forward of losses from specified activity.	Lecture 4
Sec 119	Carry forward and set off of losses not permissible in certain cases.
Sec 120	No set off of losses against undisclosed income consequent to search, requisition and survey.
Sec 121	Submission of return for losses.
Sec 116	Treatment of accumulated losses and unabsorbed depreciation in amalgamation or demerger, etc.
Sec 117	Treatment of accumulated losses and unabsorbed depreciation in scheme of amalgamation in certain cases.
Sec 118	Carry forward and set off of losses and unabsorbed depreciation in business reorganisation of co operative banks.

Chapter 11: Deductions (Ch VIII)
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Sec 122	Deductions to be made in computing total income.	Lecture
Sec 123	Deduction for life insurance premia, deferred annuity, contributions to provident fund, etc
Sec 124	Deduction in respect of employer and assessee contribution to pension scheme of Central Government.	Lecture 1 Lecture 2 Lecture 3
Sec 125	Deduction in respect of contribution to Agnipath Scheme.
Sec 126	Deduction in respect of health insurance premia.	Lecture 1 Lecture 2
Sec 127	Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability.	Lecture
Sec 128	Deduction in respect of medical treatment, etc.	Lecture
Sec 129	Deduction in respect of interest on loan taken for higher education.
Sec 130	Deduction in respect of interest on loan taken for residential house property.	Lecture
Sec 131	Deduction in respect of interest on loan taken for certain house property.
Sec 132	Deduction in respect of purchase of electric vehicle
Sec 133	Deduction in respect of donations to certain funds, charitable institutions, etc.
Sec 134	Deductions in respect of rents paid.	Lecture
Sec 135	Deduction in respect of certain donations for scientific research or rural development	Lecture
Sec 136	Deduction in respect of contributions given by companies to political parties.	Lecture
Sec 137	Dduction in respect of contributions given by any person to political parties.
Sec 138	Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc.
Sec 139	Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone
Sec 140	Special provision in respect of specified business	Lecture
Sec 141	Deduction in respect of profits and gains from certain industrial undertakings.
Sec 142	Deductions in respect of profits and gains from housing projects.
Sec 143	Special provisions in respect of certain undertakings in North-Eastern States.
Sec 144	Special provisions in respect of newly established Units in Special Economic Zones.	Lecture
Sec 145	Deduction for businesses engaged in collecting and processing of bio-degradable waste	Lecture
Sec 146	Deduction in respect of additional employee cost.
Sec 147	Deductions for income of Offshore Banking Units and Units of International Financial Services Centre.	Lecture 1 Lecture 2
Sec 148	Deduction in respect of certain inter-corporate dividends.	Lecture
Sec 149	Deduction in respect of income of co-operative societies.
Sec 150	Deduction in respect of income of federal co-operative
Sec 151	Deduction in respect of royalty income, etc., of authors of certain books other than text-books.	Lecture
Sec 152	Deduction in respect of royalty on patents
Sec 153	Deduction for interest on deposits.	Lecture
Sec 154	Deduction in case of a person with disability.	With Sec 127

Chapter 12: Rebates & Reliefs
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Sec 155	Rebate to be allowed in computing income-tax.
Sec 156	Rebate of income-tax in case of certain individuals
Sec 157	Relief when salary, etc., is paid in arrears or in advance
Sec 158	Relief from taxation in income from retirement benefit account maintained in a notified country.

International Taxation (Ch 12A, 12B, 12C & 12D)
Chapter 12A: Rebates & Reliefs (DTAA)
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Sec 159	Agreement with foreign countries or specified territories and adoption by Central Government of Agreement between Specified associations for double taxation relief.
Sec 160	Countries with which no agreement exists.
Chapter 12B: Special Provisions Relating to Avoidance of Tax
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Sec 161	Computation of income from international transaction and Specified domestic Transaction having regard to arm’s length price.
Sec 162	Meaning of associated enterprise.
Sec 163	Meaning of international transaction.
Sec 164	Meaning of specified domestic transaction
Sec 165	Determination of arm’s length price
Sec 166	Reference to Transfer Pricing Officer.
Sec 167	Power of Board to make safe harbour rules.
Sec 168	Advance pricing agreement.
Sec 169	Effect to advance pricing agreement.
Sec 170	Secondary adjustment in certain cases
Sec 171	Maintenance, keeping and furnishing of information and document by certain persons.
Sec 172	Report from an accountant to be furnished by persons entering into international transaction or specified domestic transaction.
Sec 173	Definitions of certain terms relevant to determination of arm’s length price, etc.
Sec 174	Avoidance of income-tax by transactions resulting in transfer of income to non-residents.
Sec 175	Avoidance of tax by certain transactions in securities.
Sec 176	Special measures in respect of transactions with persons located in notified jurisdictional area.
Sec 177	Limitation on interest deduction in certain cases.

Chapter 12C: General Anti-Avoidance Rules
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Sec 178	Applicability of General Anti-Avoidance Rule.
Sec 179	Impermissible avoidance arrangement.
Sec 180	Arrangement to lack commercial substance.
Sec 181	Consequences of impermissible avoidance arrangement.
Sec 182	Treatment of connected person and accommodating party
Sec 183	Application of this Chapter.
Sec 184	Interpretation

Chapter 13: Mode of Payment in Certain Ways
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Sec 185	Mode of taking or accepting certain loans, deposits and specified sum.	Lecture 1
Sec 186	Mode of undertaking transactions	Lecture 2
Sec 187	Acceptance of payment through prescribed electronic modes.
Sec 188	Mode of repayment of certain loans or deposits or specified advances.
Sec 189	Interpretation.

Ch 14: Determination of Tax in Special Cases
Ch 14A: Tax in Certain Special Cases
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Sec 190	Determination of tax where total income includes income on which no tax is payable.
Sec 191	Tax on accumulated balance of recognised provident fund.
Sec 192	Tax in case of block assessment of search cases.
Sec 193	Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer.
Sec 194	Tax on certain incomes.
Sec 195	Tax on income referred to in sections 102 to 106.

Ch 14: Determination of Tax in Special Cases
Ch 14B: Tax on Capital Gains
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Sec 196	Tax on short-term capital gains in certain cases.
Sec 197	Tax on long-term capital gains
Sec 198	Tax on long-term capital gains in certain cases.

Ch 14: Determination of Tax in Special Cases
Ch 14C: New Tax Regimes
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Sec 199	Tax on income of certain manufacturing domestic companies
Sec 200	Tax on income of certain domestic companies.
Sec 201	Tax on income of new manufacturing domestic companies
Sec 202	New tax regime for individuals, Hindu undivided family and others
Sec 203	Tax on income of certain resident co-operative societies.
Sec 204	Tax on income of certain new manufacturing co operative societies.
Sec 205	Conditions for tax on income of certain companies and cooperative societies.

Ch 14: Determination of Tax in Special Cases
Ch 14D: MAT & AMT
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Sec 206	Special provision for minimum alternate tax and alternate minimum tax.

Ch 14: Determination of Tax in Special Cases
Ch 14E: Taxation of Non Resident & Foreign Companies
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Sec 207	Tax on dividends, royalty and fees for technical services in case of foreign companies.
Sec 208	Tax on income from units purchased in foreign currency or capital gains arising from their transfer.
Sec 209	Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer.
Sec 210	Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer.
Sec 211	Tax on non-resident sportsmen or sports associations.
Sec 212	Interpretation
Sec 213	Special provision for computation of total income of non-residents
Sec 214	Tax on investment income and long-term capital gains.
Sec 215	Capital gains on transfer of foreign exchange assets not to be charged in certain cases.`
Sec 216	Return of income not to be furnished in certain cases.
Sec 217	Application of benefits under sections 212 to 216
Sec 218	Tax on business income of Offshore Banking Units or International Financial Services Centre unit.
Sec 219	Conversion of an Indian branch of foreign company into subsidiary Indian company
Sec 220	Foreign company said to be resident in India

Ch 14: Determination of Tax in Special Cases
Ch 14E: Pass Through Entities
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Sec 221	Tax on income from securitisation trusts.
Sec 222	Tax on income in case of venture capital undertakings.
Sec 223	Tax on income of unit holder and business trust.
Sec 224	Tax on income of investment fund and its unit holders.

Ch 14: Determination of Tax in Special Cases
Ch 14F: Income of Shipping Companies
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Sec 225	Income from the business of operating qualifying ships.
Sec 226	Tonnage tax scheme
Sec 227	Computation of tonnage income
Sec 228	Relevant shipping income and exclusion from book profit.
Sec 229	Depreciation and gains relating to tonnage tax assets.
Sec 230	Exclusion of deduction, loss, set off, etc.
Sec 231	Method of opting of tonnage tax scheme and validity.
Sec 232	Certain conditions for applicability of tonnage tax scheme.
Sec 233	Amalgamation and demerger.
Sec 234	Avoidance of tax and exclusion from tonnage tax scheme.
Sec 235	Interpretation.

Ch 15: Computation of Total Income (Individual)
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Ch 16: Income tax Authorities
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Sec 236	Income-tax authorities.
Sec 237	Appointment of income-tax authorities.
Sec 238	Control of income-tax authorities
Sec 239	Instructions to subordinate authorities
Sec 240	Taxpayer’s Charter.
Sec 241	Jurisdiction of income-tax authorities.
Sec 242	Jurisdiction of Assessing Officers.
Sec 243	Power to transfer cases
Sec 244	Change of incumbent of an office
Sec 245	Faceless jurisdiction of income-tax authorities.

Chapter 17: Power of Income Tax Authorities
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Sec 246	Power regarding discovery, production of evidence, etc.	Lecture 1
Sec 246	Issuing Commissions: Knowledge Booster	Lecture 1A
Sec 247	Search and seizure.	Lecture 2
Sec 247	Search and seizure.	Lecture 3
Sec 247	Search and seizure.	Lecture 4
Sec 247	Search and seizure.	Lecture 5
Sec 247	Search and seizure.	Lecture 6
Sec 248	Powers to requisition.	Lecture 7
Sec 249	Reasons not to be disclosed.
Sec 250	Application of seized or requisitioned assets.	Lecture 8
	Application of seized or requisitioned assets.	Lecture 9
Sec 251	Copying, extraction, retention and release of books of account and documents seized or requisitioned.	Lecture 10
Sec 252	Power to call for information.	Lecture 11
Sec 253	Powers of survey.	Lecture 12
Sec 254	Power to collect certain information.	Lecture 13
Sec 255	Power to inspect registers of companies.
Sec 256	Power of certain income-tax authorities	Lecture 14
Sec 257	Proceedings before income-tax authorities to be judicial proceedings.
Sec 258	Disclosure of information relating to assesses.	Lecture 15
Sec 259	Power to call for information by prescribed income tax authority.
Sec 260	Faceless collection of information.
Sec 261	Interpretation.	---

Ch 18: Return of Income
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Sec 262	Permanent Account Number
Sec 263	Return of income.
Sec 264	Scheme for submission of returns through tax return preparers
Sec 265	Return by whom to be verified.
Sec 266	Self-assessment.
Sec 267	Tax on updated return.

Ch 19: Assessment Procedure
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Sec 268	Inquiry before assessment
Sec 269	Estimation of value of assets by Valuation Officer.
Sec 270	Assessment.
Sec 271	Best judgment assessment.
Sec 272	Power of Joint Commissioner to issue directions in certain cases.
Sec 273	Faceless Assessment
Sec 274	Reference to Principal Commissioner or Commissioner in certain cases
Sec 275	Reference to Dispute Resolution Panel.
Sec 276	Method of accounting
Sec 277	Method of accounting in certain cases.
Sec 278	Taxability of certain income.
Sec 279	Income escaping assessment.
Sec 280	Issue of notice where income has escaped assessment
Sec 281	Procedure before issuance of notice under section 280.
Sec 282	Time limit for notices under sections 280 and 281
Sec 283	Provision for cases where assessment is in pursuance of an order on appeal, etc
Sec 284	Sanction for issue of notice.
Sec 285	Other provisions.
Sec 286	Time limit for completion of assessment, reassessment and recomputation
Sec 287	Rectification of mistake.
Sec 288	Other amendments.
Sec 289	Notice of demand.
Sec 290	Modification and revision of notice in certain cases
Sec 291	Intimation of loss.

Ch 20: Assessment in Search Cases
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Sec 292	Assessment of total undisclosed income as a result of search.
Sec 293	Computation of total undisclosed income of block period.
Sec 294	Procedure for block assessment.
Sec 295	Undisclosed income of any other person.
Sec 296	Time-limit for completion of block assessment.
Sec 297	Certain interests and penalties not to be levied or imposed.
Sec 298	Levy of interest and penalty in certain cases.
Sec 299	Authority competent to make assessment of block period.
Sec 300	Application of other provisions of Act.
Sec 301	Interpretation.

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