Section 271A → Section 346
Failure to keep, maintain or retain books of account, documents, etc.
Quick Answer
Section 271A of the Income Tax Act, 1961 (Failure to keep, maintain or retain books of account, documents, etc.) corresponds to Section 346 of the Income-tax Act, 2025, effective 1st April 2026. Status: Retained.
What changed for Section 271A
Section 271A of the 1961 Act sets out the rules on failure to keep, maintain or retain books of account, documents, etc.. Penalty of Rs. 25,000 for failing to maintain books of accounts as required under Section 44AA.
From 1st April 2026, the same subject sits at Section 346 of the Income-tax Act, 2025 — retained and renumbered as Section 346 of the Income-tax Act, 2025. Retained. Ensures basic bookkeeping compliance.
For Section 271A, the practical impact is rated Medium. Standard penalty during scrutiny.
Sec 271A
Provision Summary
Penalty of Rs. 25,000 for failing to maintain books of accounts as required under Section 44AA.
Sec 346
Provision Summary
Retained. Ensures basic bookkeeping compliance.
Key Changes & Highlights
- None.
Related Sections
Frequently Asked Questions
What is Section 271A of the Income Tax Act, 1961 about?
Section 271A of the Income Tax Act, 1961 covers failure to keep, maintain or retain books of account, documents, etc.. Penalty of Rs. 25,000 for failing to maintain books of accounts as required under Section 44AA.
Which section replaces Section 271A in the Income-tax Act, 2025?
Section 271A of the Income Tax Act, 1961 maps to Section 346 of the Income-tax Act, 2025, effective 1st April 2026 (status: Retained). Retained. Ensures basic bookkeeping compliance.
What is the impact of the change to Section 271A under the new tax code?
The transition impact for Section 271A is rated Medium. Standard penalty during scrutiny.
What should I watch out for when Section 271A moves to the 2025 code?
None. These points are specific to Section 271A (Failure to keep, maintain or retain books of account, documents, etc.).
Disclaimer: This mapping of Section 271A (Failure to keep, maintain or retain books of account, documents, etc.) to Section 346 of the Income-tax Act, 2025 is for educational and reference purposes only, based on publicly available drafts and circulars. As Section 271A is currently marked Retained, always confirm its treatment with a qualified Chartered Accountant before filing or making compliance decisions.
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