New Provision
Section 264, IT Act 2025
Replaces (IT Act 1961)
139B
Chapter
Chapter XV — Assessment
Effective From
1 April 2026
Statutory Text — Section 264
(1) The Board may make a Scheme for furnishing returns of income through a tax return preparer and such Scheme shall be notified, which— (a) may enable any specified class or classes of persons in preparing and furnishing returns of income through a tax return preparer authorised to act as such under the Scheme; (b) may be made irrespective of provisions of section 263. (2) For the purpose of this section,— (a) “tax return preparer” means any individual, not being a person referred to in section 515(3)(a)(ii) or an employee of the “specified class or classes of persons”, who has been authorised to act as a tax return preparer under the Scheme made under this section; (b) “specified class or classes of persons” means any person, other than a company or a person, whose accounts are required to be audited under section 63 or under any other law, who is required to furnish a return of income under this Act. (3) Every notification for the Scheme referred to in sub-section (1) shall be issued as per section 534 of this Act.
Shahi & Co. — Our Understanding
This section falls under Chapter XV which governs the assessment process — how the Income Tax Department examines, processes, and finalises your tax return.
Practical Note: Understanding assessment provisions is important for responding to notices and maintaining proper records. The faceless assessment scheme (Section 273) continues under the new Act, requiring all responses through the online portal.
Shahi & Co., Chartered Accountants
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Disclaimer: This is a reproduction of Section 264 of the Income Tax Act, 2025 (No. 30 of 2025) as published in the Official Gazette of India (CG-DL-E-22082025-265620) for informational and reference purposes only. Shahi & Co., Chartered Accountants makes no warranty as to completeness or accuracy. For the official authenticated text refer to
egazette.gov.in or
incometaxindia.gov.in. This does not constitute legal or tax advice.