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This is only a renumbering — Section 115BAA of ITA 1961 is now Section 200 of ITA 2025. The legal position is unchanged. Existing judicial precedents continue to apply. No action required beyond updating section references in filings from AY 2026-27 onwards.
Section 115BAA: Domestic companies can opt for 22% tax rate (effective ~25.17% with surcharge/cess) — forgo exemptions/deductions.
Section 200: Same 22% regime for domestic companies.
Renumbered from 115BAA to 200. No change.
Only renumbering; substantive law unchanged. Existing judicial precedents continue to apply.
The language has been simplified but the legal effect is the same. Section 270A is now Section 439. You do not need to change your tax planning or compliance approach. Update section references in new filings.
Section 270A: Penalty for under-reporting income — 50% of tax on under-reported income. Misreporting — 200%. Immunity available in certain cases.
Section 439: Penalty for under-reporting and misreporting of income — same rates (50%/200%). Bright-line tests for misreporting codified explicitly.
Renumbered from 270A to 439. Rates unchanged (50% under-reporting, 200% misreporting). Misreporting conditions made more explicit.
Language simplified or restructured for clarity. Legal effect remains the same.
This is only a renumbering — Section 234E of ITA 1961 is now Section 427 of ITA 2025. The legal position is unchanged. Existing judicial precedents continue to apply. No action required beyond updating section references in filings from AY 2026-27 onwards.
Section 234E: Fee of Rs. 200 per day for delay in filing TDS/TCS statement. Maximum fee = amount of TDS/TCS.
Section 427: Same fee — Rs. 200/day.
Renumbered from 234E to 427. No change.
Only renumbering; substantive law unchanged. Existing judicial precedents continue to apply.