(1) An assessee who is––(a) an individual, not being a senior citizen; or(b) an individual, being a senior citizen; or(c) a Hindu undivided family, shall be allowed a deduction from the gross total income, subject to conditions specified in sub-section (2), where it includes income by way of interest on deposits with––(i) a banking company […]

(1) An individual, being resident in India, who is certified by a medical authority, at any time during the tax year, as a person with disability or person with severe disability, shall be allowed a deduction of seventy-five thousand rupees or one lakh and twenty-five thousand rupees, respectively, while computing his total income.(2) The deduction

(1) In computing income-tax on the total income of an assessee with which he is chargeable for any tax year, there shall be allowed from income-tax (as computed before allowing the deductions under this Part), subject to the provisions of section 156, the deductions specified therein. (2) The deduction under section 156, shall not, in

(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,