Amended and updated notes on section 1 of Income Tax Act 1961 as amended by the Finance Act 2022 and Income-tax Rules, 1962. Detail discussion on provisions and rules related to short title, extent and commencement.
Chapter I (Sections 1 to 3) of the Income Tax Act 1961 deals with the provisions related to preliminary. Section 1 of IT Act 1961 provides for short title, extent and commencement.
Recently, we have discussed in detail section 139 (Return of Income) of IT Act 1961. Today, we learn the provisions of section 1 of Income-tax Act 1961.
The amended provision of section 1 is effective from 1-April-1962. In this article, you will learn detail of the provisions of section 1 of the Income Tax Act 1961-2023 read with the Income-tax Rules, 1962.
Short title, extent and commencement
Section 1(1) of Income Tax Act
This Act may be called the Income-tax Act, 1961.
Section 1(2) of Income Tax Act
It extends to the whole of India.
Section 1(3) of Income Tax Act
Save as otherwise provided in this Act, it shall come into force on the 1st day of April, 1962.