Chapter XXIII

Section 499 of the Income-tax Act, 2025 corresponds to s. 281 of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Where during pendency / after completion of any proceeding but before service of TRO notice u/s 415 [ s. 222 ], assessee…

Section 500 of the Income-tax Act, 2025 corresponds to s. 281 B of the Income-tax Act, 1961. STATUTORY ARCHITECTURE AO with prior approval of Competent Authority may provisionally attach property during pendency of (a) assessment of…

Section 501 of the Income-tax Act, 2025 corresponds to s. 282 of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Notice / summons / requisition / order may be served by post, electronic record, courier, hand delivery or as prescribed.…

Section 502 of the Income-tax Act, 2025 corresponds to s. 282 A of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Notice or document required to be issued by any income-tax authority -- shall be authenticated by digital signature / EVC…

Section 503 of the Income-tax Act, 2025 corresponds to s. 283 of the Income-tax Act, 1961. STATUTORY ARCHITECTURE After AO records finding of total partition, notice may be served on any one of the persons who was a member of the HUF…

Section 504 of the Income-tax Act, 2025 corresponds to s. 283(2) of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Where assessment to be made on legal representative under s. 320 [ s. 159 ], notice on legal representative valid.…

Section 505 of the Income-tax Act, 2025 corresponds to s. 285 (FA 2010) of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Every NR having liaison office in India under FEMA -- file annual statement of activities to AO in prescribed form…

Section 506 of the Income-tax Act, 2025 corresponds to s. 92 D of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Maintain prescribed information / document about international transactions / specified domestic transactions, master file,…

Section 507 of the Income-tax Act, 2025 corresponds to s. 285 B of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Producer of cinematograph film to file particulars of payments > INR 50,000 to artists, technicians etc within 60 days…

Section 508 of the Income-tax Act, 2025 corresponds to s. 285 BA (FA 2014) of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Specified entities (banks, MFs, registrars, depositories) -- file annual SFT covering high-value transactions.…

Section 509 of the Income-tax Act, 2025 corresponds to s. 285 BAA (FA 2024) of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Reporting entity (crypto exchange / VDA platform) -- file periodic statement of crypto / VDA transactions.…

Section 510 of the Income-tax Act, 2025 corresponds to s. 285 BB of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Prescribed income-tax authority may call for information from any person; AIS framework draws from this provision.…

Section 511 of the Income-tax Act, 2025 corresponds to s. 286 (FA 2016, BEPS Action 13) of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Constituent entity resident in India of MNE group with consolidated revenue > EUR 750M (INR…

Section 512 of the Income-tax Act, 2025 corresponds to s. 295 A / 296 / 297 of the Income-tax Act, 1961. STATUTORY ARCHITECTURE CG by notification may make rules for matters not specifically covered. Subordinate-legislation power --…

Section 513 of the Income-tax Act, 2025 corresponds to s. 288 of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Assessee may appear before any income-tax authority by an authorised representative (AR): (a) relative / employee, (b)…

Section 514 of the Income-tax Act, 2025 corresponds to s. 288(5) of the Income-tax Act, 1961. STATUTORY ARCHITECTURE PCCIT / CCIT / PCIT may, after hearing, debar an AR from appearing before income-tax authorities for misconduct.…

Section 515 of the Income-tax Act, 2025 corresponds to s. 288(7) of the Income-tax Act, 1961. STATUTORY ARCHITECTURE AR disqualified by court of competent jurisdiction (criminal / regulatory) ineligible to appear. PRACTITIONER PLANNING…

Section 516 of the Income-tax Act, 2025 corresponds to s. 288 A / 288B of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Total income rounded off to nearest INR 10. Tax payable / refundable rounded off to nearest INR 10. PRACTITIONER…

Section 517 of the Income-tax Act, 2025 corresponds to s. 289 of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Department shall give receipt for any money paid or recovered under the Act. Now electronic via OLTAS / TRACES challan…

Section 518 of the Income-tax Act, 2025 corresponds to s. 290 of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Person deducting / retaining / paying tax in pursuance of the Act is indemnified for the act of deducting / paying.…

Section 519 of the Income-tax Act, 2025 corresponds to s. 291 (Bar of suits) of the Income-tax Act, 1961. STATUTORY ARCHITECTURE CG empowered to extend operation by notification. PRACTITIONER PLANNING NOTES Vestigial provision; rarely…

Section 520 of the Income-tax Act, 2025 corresponds to s. 292 of the Income-tax Act, 1961. STATUTORY ARCHITECTURE No court inferior to Judicial Magistrate First Class shall try offences under the Act. Prevents lower-court trial of…

Section 521 of the Income-tax Act, 2025 corresponds to s. 292 A (older) of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Probation of Offenders Act, 1958 / Section 360 BNSS does not apply to specified income-tax offences (intersects…

Section 522 of the Income-tax Act, 2025 corresponds to s. 292 B of the Income-tax Act, 1961. STATUTORY ARCHITECTURE No return / assessment / notice / summons / proceeding shall be invalid by reason of mistake, defect or omission, if it is…

Section 523 of the Income-tax Act, 2025 corresponds to s. 292 BB of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Where assessee has appeared / cooperated in proceeding, he is precluded from raising service defect. Active-participation…

Section 524 of the Income-tax Act, 2025 corresponds to s. 132 B of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Money / bullion / books seized in search may be applied towards existing liability (regular assessment, advance tax,…

Section 525 of the Income-tax Act, 2025 corresponds to FA 2024 (SOP) of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Departmental SOP for custody of seized property; insurance / safekeeping; procedure for return. PRACTITIONER PLANNING…

Section 526 of the Income-tax Act, 2025 corresponds to s. 293 of the Income-tax Act, 1961. STATUTORY ARCHITECTURE No civil suit shall lie to set aside or modify any income-tax proceeding or order. Statutory remedies (appeal / revision /…

Section 527 of the Income-tax Act, 2025 corresponds to s. 293 A / 293B of the Income-tax Act, 1961. STATUTORY ARCHITECTURE CG may, after recording reasons, withdraw any approval / exemption granted under Act. Hearing required.…

Section 528 of the Income-tax Act, 2025 corresponds to FA 2017 of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Where CG / Board approval required, AO may presume satisfaction in cases prescribed. PRACTITIONER PLANNING NOTES Procedural…

Section 529 of the Income-tax Act, 2025 corresponds to FA 2017 of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Once Board / CG / authority gives a decision, same point not to be re-agitated. Each AY assessment independent (Radhasoami…

Section 530 of the Income-tax Act, 2025 corresponds to s. 294 of the Income-tax Act, 1961. STATUTORY ARCHITECTURE If on 1-Apr no Annual Finance Act in force, provisional tax payable based on previous year's rates. Accommodates Budget…

Section 531 of the Income-tax Act, 2025 corresponds to s. 295 A of the Income-tax Act, 1961. STATUTORY ARCHITECTURE CG may make schemes for matters not provided for; vote-on-account, e-assessment etc. PRACTITIONER PLANNING NOTES Faceless…

Section 532 of the Income-tax Act, 2025 corresponds to s. 144 B / 245MA of the Income-tax Act, 1961. STATUTORY ARCHITECTURE CG may notify schemes for faceless assessment, faceless appeal, faceless DRC, e-filing, etc. -- enables digital…

Section 533 of the Income-tax Act, 2025 corresponds to s. 295 of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Board, subject to control of CG, may make rules to carry out Act. Income-tax Rules 1962 derive from this section. Rules…

Section 534 of the Income-tax Act, 2025 corresponds to s. 296 of the Income-tax Act, 1961. STATUTORY ARCHITECTURE All rules / notifications shall be laid before Parliament for 30 days; Parliament may modify. Procedural transparency.…

Section 535 of the Income-tax Act, 2025 corresponds to s. 298 of the Income-tax Act, 1961. STATUTORY ARCHITECTURE If any difficulty arises, CG may by Order make provisions to remove difficulty. 2-year sunset from commencement (1-4-2026 to…

Section 536 of the Income-tax Act, 2025 corresponds to Repealing provision of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Sub-section (1) -- Income-tax Act, 1961 (43 of 1961) is REPEALED with effect from 1-April 2026. Sub-section (2)…