Section 294: Act to have effect pending legislative provision for charge of tax

The Income-tax Act, 1961Central Act · Act 43 of 1961

Repealed. This text is published for reference. It is not in force, and it should not be relied on as current law without checking what replaced it. Repealed by the Income-tax Act, 2025, with effect from 1 April 2026

Act to have effect pending legislative provision for charge of tax.

If on the 1st day of April in any assessment year provision has not yet been made by a Central Act for the charging of income-tax for that assessment year, this Act shall nevertheless have effect until such provision is so made as if the provision in force in the preceding assessment year or the provision proposed in the Bill then before Parliament, whichever is more favourable to the assessee, were actually in force.

Where this provision sits

Act	The Income-tax Act, 1961
Section	294
Marginal note	Act to have effect pending legislative provision for charge of tax
Jurisdiction	Central
Status	Repealed
Judgments citing it	1

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