What is the Income-tax Act, 2025 and when did it come into effect?

The Income-tax Act, 2025 replaced the Income Tax Act 1961 from April 1, 2026. It simplifies the entire direct tax framework, renumbers sections, removes redundancies, and modernizes taxation for India.

Is the Income Tax Act 1961 still valid after April 2026?

The Income Tax Act 1961 was repealed under Section 536 of the new Act from April 1, 2026. However, all assessments, appeals, and proceedings for periods before April 1, 2026 continue under the old ITA 1961 rules.

What is the new section number for Section 80C in Income Tax Act 2025?

Section 80C of the ITA 1961 maps to Section 123 of the Income-tax Act, 2025. Deductions for LIC premiums, PPF, ELSS, EPF, and home loan principal repayment continue under the new act.

What is the new section for TDS on professional fees (194J)?

Section 194J (TDS on professional and technical services) of the old Income Tax Act 1961 has been renumbered in the Income-tax Act, 2025. Use our free converter at ita1961to2025.in to find the exact new section number instantly.

How do I convert old income tax section numbers to new 2025 numbers?

Visit ita1961to2025.in and use the free section search tool. Type any old ITA 1961 section number (e.g., 80C, 194J, 139) and instantly see the new Income-tax Act, 2025 equivalent, its status, and key changes.

Is the ITA 1961 to 2025 mapping tool free for CAs and tax professionals?

Yes, completely free. The section mapper, comparison cheat sheet, PDF download, and Tax Academy blog are all free for Chartered Accountants, tax lawyers, law students, and taxpayers.

Which sections were completely deleted in the new Income Tax Act 2025?

Several redundant and overlapping sections from ITA 1961 were not carried into the Income-tax Act, 2025. Use our free converter — each section is marked as Retained, Modified, or Deleted so you can quickly check any section's status.

Can I download the ITA 1961 to Income-tax Act 2025 comparison as a PDF?

Yes! Visit the Comparison page at ita1961to2025.in/comparison to download a free cheat sheet PDF showing side-by-side mapping of key ITA 1961 sections to their Income-tax Act, 2025 equivalents.

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ITA 1961 → ITA 2025Penalties

Section 271BA → Section 349

Penalty for failure to furnish report under section 92E

RetainedHigh - Standard compliance penalty.

Quick Answer

Section 271BA of the Income Tax Act, 1961 (Penalty for failure to furnish report under section 92E) corresponds to Section 349 of the Income-tax Act, 2025, effective 1st April 2026. Status: Retained.

What changed for Section 271BA

Under the Income Tax Act, 1961, Section 271BA governs penalty for failure to furnish report under section 92e. Flat penalty of Rs. 1,00,000 for failing to furnish the Transfer Pricing Audit Report (Form 3CEB).

Under the Income-tax Act, 2025 (effective 1st April 2026), Section 271BA is retained and renumbered as Section 349 of the Income-tax Act, 2025. Retained. Ensures the timely filing of the CA's TP report.

The transition impact on Section 271BA is assessed as High. Standard compliance penalty.

Old Law (ITA 1961)Ch: XXI

Sec 271BA

Provision Summary

Flat penalty of Rs. 1,00,000 for failing to furnish the Transfer Pricing Audit Report (Form 3CEB).

New Law (ITA 2025)Ch: XXIV

Sec 349

Provision Summary

Retained. Ensures the timely filing of the CA's TP report.

Key Changes & Highlights

None.

Related Sections

Section 92E

Frequently Asked Questions

Which subject does Section 271BA of the 1961 Act cover?

Section 271BA of the Income Tax Act, 1961 covers penalty for failure to furnish report under section 92e. Flat penalty of Rs. 1,00,000 for failing to furnish the Transfer Pricing Audit Report (Form 3CEB).

What is the new section number for Section 271BA under the Income-tax Act, 2025?

Section 271BA of the Income Tax Act, 1961 maps to Section 349 of the Income-tax Act, 2025, effective 1st April 2026 (status: Retained). Retained. Ensures the timely filing of the CA's TP report.

How does the Income-tax Act, 2025 affect Section 271BA in practice?

The transition impact for Section 271BA is rated High. Standard compliance penalty.

What is new about Section 271BA under the Income-tax Act, 2025?

None. These points are specific to Section 271BA (Penalty for failure to furnish report under section 92E).

Disclaimer: This mapping of Section 271BA (Penalty for failure to furnish report under section 92E) to Section 349 of the Income-tax Act, 2025 is for educational and reference purposes only, based on publicly available drafts and circulars. As Section 271BA is currently marked Retained, always confirm its treatment with a qualified Chartered Accountant before filing or making compliance decisions.

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