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. 284 of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Section 504 deals with service of notice where an assessment is to be made under s. 320, the provision on discontinued…

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. 285A of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Section 506 places a reporting obligation on an Indian concern through which a foreign company or entity holds Indian…

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. 287 of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Section 512 empowers the Central Government to publish the names of assessees and other particulars of proceedings or…

Section 513 of the Income-tax Act, 2025 corresponds to s. 287A of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Section 513 permits an assessee to attend through a registered valuer in matters relating to the valuation of any asset. It…

No corresponding section in the Income-tax Act, 1961. Under s. 287A of that Act, "registered valuer" took its meaning from s. 2(oaa) of the Wealth-tax Act, 1957. STATUTORY ARCHITECTURE Section 514 sets up a system for registering valuers…

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. 292C of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Section 524 raises presumptions about books of account, documents, assets, information in electronic form and computer…

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. 293A of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Section 527 empowers the Central Government, if satisfied that it is necessary or expedient in the public interest, to make…

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. 294A of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Section 531 confers a power to rescind; it does not confer any power to grant exemptions. It allows the Central Government,…

Section 532 of the Income-tax Act, 2025 corresponds to ss. 92CA, 142B, 144C, 151A, 157A, 231, 245MA, 245R, 245W, 250, 253, 255, 264A, 264B, 274, 279 and 293D 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)…