Section 295 → Section 533
Power to make rules
Quick Answer
Section 295 of the Income Tax Act, 1961 (Power to make rules) corresponds to Section 533 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
Sec 295
Provision Summary
Empowers the Central Board of Direct Taxes (CBDT) to make rules (Income-tax Rules) for carrying out the purposes of the Act.
Sec 533
Provision Summary
Retained. The bedrock for all Income Tax Rules, forms, valuation methods, and procedures.
Key Changes & Highlights
- Specific new rule-making powers added for Virtual Digital Assets, Faceless Assessments, and algorithm-based valuations.
Frequently Asked Questions
What does Section 295 of the Income Tax Act 1961 deal with?
Section 295 (Power to make rules) Empowers the Central Board of Direct Taxes (CBDT) to make rules (Income-tax Rules) for carrying out the purposes of the Act.
What is the new section number for Section 295 under the Direct Tax Code 2025?
Section 295 of the ITA 1961 maps to Section 533 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 295 under the new tax code?
Section 295 is marked as "Retained" with status "Active". Impact: Critical - Empowers the CBDT to keep the law agile.
What are the key changes to Section 295 under DTC 2025?
Specific new rule-making powers added for Virtual Digital Assets, Faceless Assessments, and algorithm-based valuations.
Disclaimer: This page is for educational and reference purposes only. Section mappings are based on publicly available drafts and circulars. Always consult a qualified Chartered Accountant before filing or making compliance decisions under the Direct Tax Code 2025.
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