Comparison of section 349 "Return of income." between the Income-Tax Act, 2025 (as passed) and the Income-Tax Bill, 2025 (as originally introduced)

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....d in the document. Background & Scope Statutory hooks: the texts reference the Income-tax Act framework and specifically cross-reference section 263(1)(a)(iii) (and related sub-sections) concerning return filing requirements and time limits. The subject matter is the obligation of a registered non-profit organisation to furnish a return of income where, before applying the special provisions of the Part, its total income exceeds the maximum non-taxable amount in a tax year. Definitions or other explanatory provisions: Not stated in the document. Statutory Provision Mode Text & Scope Coverage: The provision applies to a "registered non-profit organisation" whose "total income", prior to applying the Part's exemptions or special prov....

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.... registered non-profit reports gross receipts such that, before applying Part-specific exemptions, its total income is above the statutory basic exemption limit. Under the provision, it must file a return for that tax year in accordance with the cross-referenced provisions of section 263. (This is a direct reading of the text.) * Example 2: A registered non-profit whose total income, prior to Part adjustments, is below the maximum non-taxable amount need not be captured by this clause and therefore would not be required under this provision to file on that ground. (Direct textual implication.) * Example 3: Not stated in the document: any specific numeric threshold or dates for compliance; procedural forms; or penalties for non-complianc....

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.... 263(2) apply. Absent the full text of section 263 in these documents, the precise legal consequence is dependent on the content of those sub-clauses. * Terminology: Both texts use the phrase "without giving effect to the provisions of this Part" and "exceeds the maximum amount which is not chargeable to income-tax". They are substantially identical except for the internal cross-references noted above. * Practical impact: Minimal substantive change to the core obligation; the material difference is the technical cross-reference to timing and possibly procedure. Practical Implications * Compliance and risk areas: Entities that are registered as non-profit organisations should evaluate their total income on a "pre-Part" basis to determ....