TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Repeal of Income-tax Act preserves prior years' rights, proceedings, penalties and transitions losses, refunds, and continuing investigations</h1> The Income-tax Act, 1961 is repealed, but extensive savings preserve prior operation, rights, obligations, proceedings, orders, elections and penalties under the repealed law for tax years beginning before 1 April 2026; pending and subsequently initiated proceedings relating to those years continue and are disposed of under the repealed Act's procedure. Refunds, interest and defaults after commencement follow the new Act for the post-commencement period. Carries forward of losses, credits, allowances, depreciation and specified deductions, treatment of certain transfers and amalgamation consequences are preserved and carried into the new Act under corresponding provisions, notified schemes remain effective, and searches/requisitions begun earlier proceed as if not repealed.
TaxTMI 
TaxTMI 
