Internal Revenue Code of 1954, as Amended and in Force on January 3, 1961

SUBTITLE G. The Joint Committee on Internal Revenue Taxation__.
CHAPTER 91. Organization and Membership of the Joint Committee.
CHAPTER 92. Powers and Duties of the Joint Committee__.

2. Tax in case of joint return or return of sur-

viving spouse..

Sec. 3. Optional tax if adjusted gross income is less

than $5,000__

Sec. 4. Rules for optional tax.

Sec. 5. Cross references relating to tax on individuals.

Part II. Tax on corporations.

Sec. 11. Tax imposed....

Sec. 12. Cross references relating to tax on corpora-

tions____

Part III. Changes in rates during a taxable year.

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Sec. 21. Effect of changes---

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Part IV. Credits against tax.

Sec. 31. Tax withheld on wages..

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Sec. 32. Tax withheld at source on nonresident aliens

and foreign corporations and on tax-free

covenant bonds...

Sec. 33. Taxes of foreign countries and possessions of

the United States_-

Sec. 34. Dividends received by individuals..

Sec. 35. Partially tax-exempt interest received by

Sec. 36. Credits not allowed to individuals paying op-

tional tax or taking standard deduction_...

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Sec. 37. Retirement income..

Sec. 38. Overpayments of tax..

SUBCHAPTER B. Computation of taxable income.

Part I. Definition of gross income, adjusted gross income, and

taxable income.

Sec. 61. Gross income defined..

Sec. 62. Adjusted gross income defined...

Sec. 63. Taxable income defined...

Part II. Items specifically included in gross income.

Sec. 71. Alimony and separate maintenance payments.

Sec. 72. Annuities; certain proceeds of endowment and

life insurance contracts..

Sec. 73. Services of child..

Sec. 74. Prizes and awards.

Sec. 75. Dealers in tax-exempt securities.

Sec. 76. Mortgages made or obligations issued by

joint-stock land banks...

Sec. 77. Commodity credit loans..

CHAPTER 1. Normal Taxes and Surtaxes-Continued

SUBCHAPTER B. Computation of taxable income-Continued

Part III. Items specifically excluded from gross income.

Sec. 101. Certain death benefits.

Sec. 102. Gifts and inheritances.

Sec. 103. Interest on certain governmental obligations_

Sec. 104. Compensation for injuries or sickness..

Sec. 105. Amounts received under accident and health

plans....

Sec. 106. Contributions by employer to accident and

health plans----

Sec. 107. Rental value of parsonages..

Sec. 108. Income from discharge of indebtedness-

Sec. 109. Improvements by lessee on lessor's property--

Sec. 110. Income taxes paid by lessee corporation - - -

Sec. 111. Recovery of bad debts, prior taxes, and de-

linquency amounts___

Sec. 112. Certain combat pay of members of the Armed

Forces...

Sec. 113. Mustering-out payments for members of the

Armed Forces..

Sec. 114. Sports programs conducted for the American

National Red Cross----

Income of States, municipalities, etc..

Sec. 115.

Sec. 116. Partial exclusion of dividends received by in-

dividuals..

Sec. 117. Scholarships and fellowship grants...

Sec. 118. Contributions to the capital of a corporation.

Sec. 119. Meals or lodging furnished for convenience of

employer..

Sec. 121. Cross references to other acts..

Part IV. Standard deduction for individuals.

Sec. 141. Standard deduction_.

Sec. 142. Individuals not eligible for standard deduc-

tion_____

Sec. 143. Determination of marital status_

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Sec. 144. Election of standard deduction_

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Sec. 145. Cross reference. -

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Part VI. Itemized deductions for individuals and corporations.

Sec. 172. Net operating loss deduction_

Sec. 173. Circulation expenditures-

Sec. 175.

Sec. 174. Research and experimental expenditures..
Soil and water conservation expenditures...
Sec. 176. Payments with respect to employees of certain
foreign corporations..

Sec. 177. Trademark and trade name expenditures..
Depreciation or amortization of improvements
made by lessee on lessor's property-

Sec. 178.

Sec. 179. Additional first-year depreciation allowance

for small business...

Sec. 180. Expenditures by farmers for fertilizer, etc...

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