Section 293C → Section 529
Power to withdraw approval
Quick Answer
Section 293C of the Income Tax Act, 1961 (Power to withdraw approval) corresponds to Section 529 of the Income-tax Act, 2025, effective 1st April 2026. Status: Retained.
What changed for Section 293C
The starting point is Section 293C of the Income Tax Act, 1961 — power to withdraw approval. Empowers the authority to withdraw any approval granted under the Act if conditions are violated.
From 1st April 2026, the same subject sits at Section 529 of the Income-tax Act, 2025 — retained and renumbered as Section 529 of the Income-tax Act, 2025. Retained. Ensures that tax exemptions or institutional approvals can be revoked upon non-compliance.
For Section 293C, the practical impact is rated Medium. Enforces strict post-approval compliance.
Sec 293C
Provision Summary
Empowers the authority to withdraw any approval granted under the Act if conditions are violated.
Sec 529
Provision Summary
Retained. Ensures that tax exemptions or institutional approvals can be revoked upon non-compliance.
Key Changes & Highlights
- Specific focus on withdrawing approvals from non-compliant charitable trusts and scientific research institutions.
Related Sections
Frequently Asked Questions
What is Section 293C of the Income Tax Act, 1961 about?
Section 293C of the Income Tax Act, 1961 covers power to withdraw approval. Empowers the authority to withdraw any approval granted under the Act if conditions are violated.
Which section replaces Section 293C in the Income-tax Act, 2025?
Section 293C of the Income Tax Act, 1961 maps to Section 529 of the Income-tax Act, 2025, effective 1st April 2026 (status: Retained). Retained. Ensures that tax exemptions or institutional approvals can be revoked upon non-compliance.
What is the impact of the change to Section 293C under the new tax code?
The transition impact for Section 293C is rated Medium. Enforces strict post-approval compliance.
What should I watch out for when Section 293C moves to the 2025 code?
Specific focus on withdrawing approvals from non-compliant charitable trusts and scientific research institutions. These points are specific to Section 293C (Power to withdraw approval).
Disclaimer: This mapping of Section 293C (Power to withdraw approval) to Section 529 of the Income-tax Act, 2025 is for educational and reference purposes only, based on publicly available drafts and circulars. As Section 293C is currently marked Retained, always confirm its treatment with a qualified Chartered Accountant before filing or making compliance decisions.
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