Income Tax Act
Explore the Income Tax Act, including important provisions, sections, amendments and related tax-law resources. EduTaxTuber explains key provisions in simple language and provides links to relevant rules, notifications, circulars and other income-tax resources. Because the Income-tax Act, 1961 has been repealed from 1 April 2026, readers should check which law applies to the relevant tax year or assessment period.
Important Sections
Income Tax Act, 2025
EDUTAXTUBER · LAW LIBRARY
Income-tax Act, 2025
Full legal text · Act 30 of 2025 · As amended by Finance Act, 2026
Official PDF pages 476–480
SOURCE PDF PAGE 476 Sl. No. Nature of income or sum Payee Payer Rate A B C D E entertainer, who is not a citizen of India; or ( b ) a non-resi - dent sports association or institu - tion. 2 . Any income by way of interest payable in respect of mon - eys borrowed in for - eign currency from a source outside India,— ( a ) under a loan agreement or issue of long- t e r m i n - frastructure bond on or after the 1st July, 2012 but before the 1st July, 2023; or ( b ) by way of issue of any long- term bond on or after the 1st October, 2014 but before the 1st July, 2023, which is approved by the Central Gov - ernment in this be - half. Any non-resident (not being a com - pany) or a foreign company. A n y I n d i a n company or a business trust. 5% 3 . Any income by way of interest payable in respect of mon - eys borrowed from Any non-resident (not being a com - pany) or a foreign company. A n y I n d i a n company or a business trust. 5% ────────── SOURCE PDF PAGE 477 Sl. No. Nature of income or sum Payee Payer Rate A B C D E a source outside India by way of is - sue of rupee denom - inated bond before the 1st July, 2023. 4 . Any income by way of interest payable in respect of mon - eys borrowed from a source outside India by way of issue of any long- term bond or rupee denominated bond, which is listed only on a recognised stock exchange lo - cated in any Inter - national Financial Services Centre. Any non-resident (not being a com - pany) or a foreign company. A n y I n d i a n company or a business trust. ( a ) 4%, where such bonds are issued on or af - ter the 1st April, 2020 but before the 1st July, 2023; or ( b ) 9%, where such bonds are issued on or after the 1st July, 2023. 5 . Any income by way of interest. Any non-resident (not being a com - pany) or a foreign company. Any infrastruc - ture debt fund referred to in Schedule VII (Table: Sl. No. 46). 5% 6 . Any distributed in - come referred to in section 223, being of the nature referred to in Schedule V (Table: Sl. No. 3). Any unit holder, being a non-res - ident (not being a company) or a foreign company. Any business trust. ( a ) 5%, in case of income of the na - t u r e r e - ferred to in Schedule V [Table: Sl. No. 3. B( a )]; and ( b ) 1 0 % , i n case of in - come of the nature re - ferred to in Schedule V [Table: Sl. No. 3. B( b )]. ────────── SOURCE PDF PAGE 478 Sl. No. Nature of income or sum Payee Payer Rate A B C D E 7 . Any distributed in - come referred to in section 223, being of the nature re - ferred to in Schedule V (Table: Sl. No. 4). Any unitholder, being a non-res - ident (not being a company) or a foreign company. Any business trust. Rates in force. 8 . Any income, oth - er than that pro - portion of income which is exempt under Schedule V (Table: Sl. No. 2), in respect of units of an investment fund specified in section 224. Any unitholder, being a non-res - ident (not being a company) or a foreign company. Any investment fund specified in section 224. Rates in force. 9 . Any income in re - spect of an invest - ment in a securiti - sation trust specified in section 221. Any investor, be - ing a non-resident (not being a com - pany) or a foreign company. Any securitisa - tion trust spec - ified in section 221. Rates in force. 10 . Any income— ( a ) in respect of u n i t s o f a Mutual Fund specified un - der Schedule VII (Table: Sl. No. 20 or 21); or ( b ) in respect of units from the specified com - pany. Any non-resident (not being a com - pany) or a foreign company. Any person. As per Note 2. 11 . Any income in re - spect of units re - ferred to in section 208. A n y o f f s h o r e fund. Any person. 10% ────────── SOURCE PDF PAGE 479 Sl. No. Nature of income or sum Payee Payer Rate A B C D E 12 . Any income by way of long-term capital gains arising from the transfer of units referred to in sec - tion 208; A n y o f f s h o r e fund. Any person. 12.5% 13 . Any income by way of interest or dividends in re - spect of bonds or Global Depository Receipts referred to in section 209. Any non-resident. Any person. 10% 14 . Any income by way of long-term cap - ital gains arising from the transfer of bonds or Global Depository Receipts referred to in sec - tion 209. Any non-resident. Any person. 12.5% 15 . Any income in re - spect of securities referred to in sec - tion 210(1) (Table: Sl. No. 1). Any Foreign Insti - tutional Investor. Any person. As per Note 2. 16 . Any income in re - spect of securities referred to in sec - tion 210(1) (Table: Sl. No. 1). A specified fund referred to in Schedule VI [Note 1( g )]. Any person. 10% 17 . Any interest (not be - ing interest referred to against serial numbers 2, 3, 4 and 5) or any other sum chargeable under the provisions of this Act, not being income chargeable under the head “Sal - aries”. Any non-resident (not being a com - pany) or a foreign company. Any person. Rates in force. ────────── SOURCE PDF PAGE 480 Note 1.— For serial numbers 2, 3 and 4, the interest payable shall be income to the extent to which such interest does not exceed the amount of interest calculated at the rate approved by the Central Government in this behalf, having regard to the terms of the loan or the bond and its repayment. Note 2.— For serial numbers 10 and 15, tax shall be deducted at the rate of— ( a ) 20%; or ( b ) where an agreement referred to in section 159(1) or 159(2) applies to the payee and if the payee has furnished a certificate referred to in section 159(8), as the case may be, then, income-tax shall be deducted at the rate or rates of income-tax provided in such agreement for such income, if such rate is lower than 20%. Note 3.— For serial number 17,— ( a ) if interest is payable by the Government or a public sector bank or a public financial institution within the meaning of Schedule VII (Note 3), deduction of tax shall be made only at the time of payment thereof in cash or by the issue of a cheque or draft or by any other mode; ( b ) the obligation to deduct tax at source and comply with the provisions of this serial number extend to all persons resident or non-resident, whether or not, the non-resident person has— ( i ) a residence or place of business or business connection in India; or ( ii ) any other presence in any manner whatsoever in India. (3) Where any income or sum of the nature specified in column B of the Table below, is credited or paid by the person specified in column C during the tax year, to any person, the person responsible for making payment of such income or sum, shall deduct income-tax— ( a ) on the entire amount of such income or sum, where the amount or aggregate of amounts exceed the threshold limit specified in column D, or on net winnings as per Note 1 of the Table; ( b ) at the rate specified in column D; ( c ) at the time of payment thereof in cash or by way of a cheque or a draft or by any other mode, or as specified therein; and ( d ) subject to the provisions of sub-sections (4), (5), (6), (8) and (9). TABLE FOR PAYMENTS TO ANY PERSON Sl. No. Nature of income or sum Payer Rate Threshold limit A B C D 1 . Any income by way of winnings (other than winnings from online games as referred to in serial number 2) from— ( a ) any lottery; or Any person. Rate: Rates in force. _____ Threshold limit: ` 10,000 in case of a single transaction.
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