1.
(1) This Act may be called the Direct Taxes Code, 2010.
(2) It extends to the whole of India.
(3) Save as otherwise provided in this Code, it shall come into force on the 1st day of April, 2012.
INCOME-TAX
BASIS OF CHARGE
2.
(1) In accordance with the provisions of this Code, every person shall be liable to pay income-tax in respect of his total income of the financial year.
(2) Subject to the provisions of this Code, income-tax, including additional income-tax, shall be charged in respect of the total income of a financial year of every person.
(3) Where the income-tax referred to in sub-section (2) is to be charged in respect of the income of a period other than the financial year, the income-tax for such period shall be charged accordingly.
(4) The income-tax referred to in sub-section (2) shall be charged at the rate specified in the First Schedule in the manner provided therein.
(5) In respect of the income chargeable under sub-section (2), income tax shall be deducted or collected at source or paid in advance, in accordance with the provisions of this Code.
(6) The chargeability of income-tax on the income of a financial year under the foregoing provisions shall be determined in accordance with the provisions of this Code as they stand on the 1st day of April of that financial year.
3.
(1) Subject to the provisions of this Code, the total income of any financial year of a person, who is a resident, shall include all income from whatever source derived which—
(a) accrues, or is deemed to accrue, to him in India during the year;
