New Provision
Section 388, IT Act 2025
Replaces (IT Act 1961)
245V
Chapter
Chapter XVIII — Collection and Recovery of Tax
Effective From
1 April 2026
Statutory Text — Section 388
e Board for Advance Rulings shall, subject to the provisions of this Chapter, have power to regulate its own procedure in all matters arising out of the exercise of its powers under this Act. Appeal. 389. (1) T
Shahi & Co. — Our Understanding
This section falls under Chapter XVIII which deals with collection and recovery of tax — including TDS, advance tax, self-assessment tax, and recovery proceedings.
Practical Note: TDS compliance is one of the most heavily scrutinised areas in income tax. Failure to deduct, short deduction, or late deposit of TDS attracts interest, penalty, and disallowance of the related expenditure.
Shahi & Co., Chartered Accountants
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Disclaimer: This is a reproduction of Section 388 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.