The Income-tax
Act, 1961 is the cornerstone of India’s tax legislation. It lays down the legal
framework for levying, collecting, and administering income tax across the
country. Every provision under this Act originates from its very first section—Section
1, which outlines the short title, geographical extent, and
date of commencement of the Act. Understanding this section is crucial as it
establishes the legal identity and operational scope of the entire law.
1. Short
title, extent and commencement. —
(1)
This Act may be called the Income-tax Act, 1961.
(2)
It extends to the whole of India.
(3)
Save as otherwise provided in this Act; it shall come into force on the 1st day
of April 1962.
Tags
Income Tax Act