Here are some important sections of the Income Tax Act, 1961:

·????????Section 4 - Charge of Income Tax: This section establishes the chargeability of income tax on the total income of an assessee.

·????????Section 80C - Deductions from Gross Total Income: This section allows for deductions from gross total income for certain investments and expenditures such as life insurance premiums, investments in Provident Funds, Public Provident Funds, Equity Linked Saving Schemes, National Pension Schemes, etc.

·????????Section 139 - Return of Income: This section specifies the timelines and procedures for filing income tax returns.

·????????Section 143 - Assessment: This section provides for the procedure of assessment of the income tax returns filed by the assessee.

·????????Section 234A, 234B, and 234C - Interest for Defaults: These sections provide for the interest payable by the assessee for non-compliance or delay in payment of income tax.

·????????Section 271 - Penalties: This section provides for penalties for non-compliance with the provisions of the Income Tax Act, 1961.

·????????Section 276B - Evasion of Tax: This section provides for punishment for willful evasion of income tax.

These are just a few important sections of the Income Tax Act,1961.

There are many more sections that cover various aspects of income tax such as exemptions, assessments, and appeals, among others.

Understanding these sections is essential for compliance with income tax laws and regulations in India.