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9 provisions found
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This is only a renumbering — Section 43B of ITA 1961 is now Section 37 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 43B: Tax, duty, cess — employer PF/ESI/gratuity — bonus/commission — interest to banks/FIs — leave encashment — all deductible only on actual payment basis.
Section 37: Certain deductions allowed on actual payment basis only. Same list of items retained.
Renumbered from 43B to 37. All items retained. No substantive change.
Only renumbering; substantive law unchanged. Existing judicial precedents continue to apply.
This is only a renumbering — Section 37 of ITA 1961 is now Section 34 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 37(1): Any expenditure laid out wholly and exclusively for the purpose of business or profession, not being capital expenditure or personal expenditure, shall be allowed as deduction.
Section 34: General deduction for business expenditure. Same 'wholly and exclusively' test.
Renumbered from 37 to 34. No change in the general deduction principle.
Only renumbering; substantive law unchanged. Existing judicial precedents continue to apply.
This is only a renumbering — Section 80GGC of ITA 1961 is now Section 137 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 80GGC: Deduction for contributions by any person to political parties — full amount deductible (except cash).
Section 137: Deduction in respect of contributions given by any person to political parties.
Renumbered from 80GGC to 137. No change.
Only renumbering; substantive law unchanged. Existing judicial precedents continue to apply.
This is only a renumbering — Section 263 of ITA 1961 is now Section 377 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 263: CIT may revise order of AO if erroneous and prejudicial to revenue. Two conditions must be satisfied.
Section 377: Revision of orders prejudicial to revenue. Twin conditions unchanged.
Renumbered from 263 to 377. No change.
Only renumbering; substantive law unchanged. Existing judicial precedents continue to apply.
This is only a renumbering — Section 10(37) of ITA 1961 is now Section Schedule III, Sl. No. 18 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 10(37): Capital gains arising from compulsory acquisition of urban agricultural land exempt.
Schedule III (Table: Sl. No. 18): Same exemption. Moved to Schedule III.
Moved from Section 10 to Schedule III. No change.
Only renumbering; substantive law unchanged. Existing judicial precedents continue to apply.
This is only a renumbering — Section 237 of ITA 1961 is now Section 431 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 237: If any person satisfies the AO that tax paid exceeds tax properly chargeable, a refund shall be granted.
Section 431: Refunds — same provision.
Renumbered from 237 to 431. No change.
Only renumbering; substantive law unchanged. Existing judicial precedents continue to apply.
This is only a renumbering — Section 244A of ITA 1961 is now Section 437 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 244A: Interest on refunds at 0.5% per month (simple interest) from 1 April of AY or date of payment of tax, whichever is later.
Section 437: Interest on refunds — same rate and computation.
Renumbered from 244A to 437. No change.
Only renumbering; substantive law unchanged. Existing judicial precedents continue to apply.
This is only a renumbering — Section 264 of ITA 1961 is now Section 378 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 264: CIT may revise any order passed by an authority subordinate to him, on application by the assessee or suo moto.
Section 378: Revision of other orders. Same power.
Renumbered from 264 to 378. No change.
Only renumbering; substantive law unchanged. Existing judicial precedents continue to apply.
This is only a renumbering — Section 245MA of ITA 1961 is now Section 379 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 245MA: Dispute Resolution Committee for small taxpayers (returned income ≤ Rs. 50 lakh, disputed variation ≤ Rs. 10 lakh). Reduces litigation.
Section 379: Same DRC provision.
Renumbered from 245MA to 379. No change.
Only renumbering; substantive law unchanged. Existing judicial precedents continue to apply.