(1) A resident individual assessee shall be entitled to a deduction of 100% of income-tax payable or twelve thousand five hundred rupees, whichever is less, from the income-tax (computed before allowing the deduction under this section) chargeable on the total income for any tax year if the total income does not exceed five lakh rupees.(2) […]

 (1) Where the total income of an assessee is assessed at a rate higher than the rate at which it would otherwise have been assessed, due to the following receipts,—(a) a sum in the nature of arrear or advance salary; or(b) salary for more than twelve months in any one tax year; or(c) a payment

(1) The income accrued in a specified account, maintained in a notified country by a specified person, shall be taxed in a tax year, as prescribed.(2) In this section,—(a) “notified country”means a country as notified by the Central Government;(b) “specified account” means an account maintained in a notified country by the specified person for his

(1) The Central Government may enter into an agreement with the Government of—(a) any other country;or(b) any specified territory, for the purposes mentioned in sub-section (3), and may, by notification, make such provisions as necessary for implementing the agreement.(2) Any specified association in India may enter into an agreement with any specified association in the

(1) If any person who is resident in India in any tax year proves that, in respect of his income which accrued or arose during that tax year outside India (and which is not deemed to accrue or arise in India), he has paid in any country with which there isno agreement under section 159

(1) Any income arising from an international transaction or a specified domestic transaction shall be determined having regard to the arm’s length price.(2) Any allowance for any expense or interest arising from an international transaction or a specified domestic transaction shall also be determined having regard to the arm’s length price.(3) If in an international

(1) In this Chapter, “associated enterprise”, in relation to another enterprise, means an enterprise—(a) which participates, directly or indirectly, or through one or more intermediaries, in the management or control or capital of the otherenterprise; or(b) in respect of which one or more persons who participate, directly or indirectly, or through one or more intermediaries,

(1) In this Chapter, “international transaction” means a transaction between two or more associated enterprises, one of which is necessarily a non-resident, and includes—(a) the purchase, sale, transfer, lease or use of tangible property, including building, transportation vehicle, machinery, equipment, tools, plant, furniture, commodity or any other article, product or thing;(b) the purchase, sale, transfer,

In this Chapter, “specified domestic transaction” in case of an assessee means any of the following transactions, not being an international transaction—(a) any transaction referred to in section 122;(b) any transfer of goods or services referred to in section 140(9);(c) any business transacted between the assessee and other person as referred to in section 140(13);(d)

(1) The arm’s length price in relation to an international transaction or specified domestic transaction shall be determined by any of the following methods, being the most appropriate method––(a) comparable uncontrolled price method;(b) resale price method;(c) cost plus method;(d) profit split method;(e) transactional net margin method;(f) such other method as prescribed by the Board.(2) The