New Provision
Section 319, IT Act 2025
Replaces (IT Act 1961)
175
Chapter
Chapter XV — Assessment
Effective From
1 April 2026
Statutory Text — Section 319
rrespective of anything contained in section 4, where it appears to the Assessing Officer during any current tax year that any person is likely to charge, sell, transfer, dispose of or otherwise part with any of his assets with a view to avoiding payment of any liability under the provisions of this Act, the total income of such person for the period beginning from the first day of that current tax year up to the date when the Assessing Officer commences proceedings under this section shall be chargeable to tax in the current tax year. (2) For the purpose of sub-section (1), the provisions of section 317(2) to (6) shall, so far as may be, apply to any proceedings in the case of any such person as they apply in the case of persons leaving India. 12. —Discontinuance of business, or dissolution
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 319 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.