Schedules to the Income-tax Act, 1961 :
There are fourteen Schedules to the Income-tax Act, 1961. Briefly they deal with the following matters:
Schedule I | Method of computing profits and gains of Insurance business Section 44 |
Schedule II | Procedure for Recovery of Tax |
Schedule III | Procedure for distraint by Assessing Officer or Tax Recovery Officer |
Schedule IV | Recognised Provident Funds, approved superannuation funds and approved gratuity funds |
Schedule VII | Containing a list of minerals and group of associated minerals in the context of section 35E. |
Schedule VIII | List of Industrially backward States and Union Territories – Section 80IA(2)(iv)(b) |
Schedule XIII | List of articles or things which an undertaking or enterprise should not manufacture or produce in the context of section 80-IB(4) & section 80-IC(2)(a) |
Schedule XIV | List of articles or things which an undertaking or enterprise should manufacture or produce and list of operations which an undertaking or enterprise should commence in the context of section 80-IC(2)(b). |
Note – Only the schedules currently relevant have been listed above.