New Provision
Section 343, IT Act 2025
Replaces (IT Act 1961)
New provision
Chapter
Chapter XVI — Appeals and Revision
Effective From
1 April 2026
Statutory Text — Section 343
he regular income, as reduced by the application of income as per the provisions of section 341 and accumulated or set apart income under section 342, to the extent of 15% of regular income, shall be considered as deemed accumulated income and where such deemed accumulated income is invested or deposited, it shall be invested or deposited in any of the modes permitted under section 350.
Income–tax Act, 2025 [Sec 302-355] (2) The deemed accumulated income under this section shall not be considered as accumulated income for the purposes of section 342. 3. ––Commercial activities by registered non-profit organization Business undertaking held as property. 344. Wh
Shahi & Co. — Our Understanding
This section falls under Chapter XVI which governs appeals and revision — your right to challenge an assessment order before the Commissioner (Appeals), ITAT, High Court, and Supreme Court.
Practical Note: If you receive an adverse assessment order, the appeal must be filed within the prescribed time limit. Delay in filing appeals is a common compliance failure that results in forfeiture of the right to appeal.
Shahi & Co., Chartered Accountants
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Disclaimer: This is a reproduction of Section 343 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.