Income Tax Act, 2025
Section 10: Ins. by Act 20 of 2015, s. 9 (w.e.f. 12016).
10. Ins. by Act 20 of 2015, s. 9 (w.e.f. 12016).
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(ii) the return of income for the previous year is not furnished by such person on or before the due
date specified under sub-section (1) of section 139 for furnishing the return of income for the said
previous year.]
1[Explanation 1.—For the purposes of sections 11, 12, 12A and this section, “trust” includes any
other legal obligation and for the purposes of this section “relative”, in relation to an individual, means—
(i) spouse of the individual;
(ii) brother or sister of the individual;
(iii) brother or sister of the spouse of the individual;
(iv) any lineal ascendant or descendant of the individual;
(v) any lineal ascendant or descendant of the spouse of the individual;
(vi) spouse of a person referred to in sub-clause (ii), sub-clause (iii), sub-clause (iv) or
sub-clause (v);
(vii) any lineal descendant of a brother or sister of either the individual or of the spouse of the
individual.]
Explanation 2.—A trust or institution created or established for the benefit of Scheduled Castes,
backward classes, Scheduled Tribes or women and children shall not be deemed to be a trust or institution
created or established for the benefit of a religious community or caste within the meaning of clause (b)
of sub-section (1).
Explanation 3.—For the purposes of this section, a person shall be deemed to have a substantial
interest in a concern,—
(i) in a case where the concern is a company, if its shares (not being shares entitled to a fixed rate
of dividend whether with or without a further right to participate in profits) carrying not less than
twenty per cent. of the voting power are, at any time during the previous year, owned beneficially by
such person or partly by such person and partly by one or more of the other persons referred to in
sub-section (3);
(ii) in the case of any other concern, if such person is entitled, or such person and one or more of
the other persons referred to in sub-section (3) are entitled in the aggregate, at any time during the
previous year, to not less than twenty per cent. of the profits of such concern.]
2[13A. Special provision relating to incomes of political parties.—Any income of a political party
which is chargeable under the head 3*** “Income from house property” or “Income from other sources”
or 4[Capital gains or] any income by way of voluntary contributions received by a political party from any
person shall not be included in the total income of the previous year of such political party:
the return of income for the previous year is not furnished by such person on or before the due
date specified under sub-section
of section 139 for furnishing the return of income for the said
previous year.]
1[Explanation 1.—For the purposes of sections 11, 12, 12A and this section, “trust” includes any
other legal obligation and for the purposes of this section “relative”, in relation to an individual, means—
spouse of the individual;
brother or sister of the individual;
brother or sister of the spouse of the individual;
any lineal ascendant or descendant of the individual;
any lineal ascendant or descendant of the spouse of the individual;
spouse of a person referred to in sub-clause
or
sub-clause
any lineal descendant of a brother or sister of either the individual or of the spouse of the
individual.]
Explanation 2.—A trust or institution created or established for the benefit of Scheduled Castes,
backward classes, Scheduled Tribes or women and children shall not be deemed to be a trust or institution
created or established for the benefit of a religious community or caste within the meaning of clause
of sub-section
in a case where the concern is a company, if its shares (not being shares entitled to a fixed rate
of dividend whether with or without a further right to participate in profits) carrying not less than
twenty per cent. of the voting power are, at any time during the previous year, owned beneficially by
such person or partly by such person and partly by one or more of the other persons referred to in
sub-section
in the case of any other concern, if such person is entitled, or such person and one or more of
the other persons referred to in sub-section
are entitled in the aggregate, at any time during the
previous year, to not less than twenty per cent. of the profits of such concern.]
2[13A. Special provision relating to incomes of political parties.—Any income of a political party
which is chargeable under the head 3*** “Income from house property” or “Income from other sources”
or 4[Capital gains or] any income by way of voluntary contributions received by a political party from any
person shall not be included in the total income of the previous year of such political party: