Faceless Assessment — IT Act 1961 vs 2025 Comparison
Complete guide on faceless 1961 vs 2025 under the Income Tax Act. Covers IT Act 1961 and IT Act 2025. Updated March 2026.
Quick Reference
Topic: faceless 1961 vs 2025Framework: Income Tax Act, 1961 / Income Tax Act, 2025
Portal: incometax.gov.in
Updated: March 2026
Overview
faceless 1961 vs 2025 is essential for taxpayers. This guide covers provisions, computation, filing, and penalties.
Key Provisions
Framework covers: applicable rates, deductions, filing forms/deadlines, TDS/TCS, penalties. All filings on incometax.gov.in.
Practical Guidance
Choose between old and new regime. Maximize deductions. Pay advance tax on time. Reconcile 26AS/AIS. File by due date. Keep proofs 6 years.
1961 vs 2025
IT Act 2025 (effective April 2026): Tax Year replaces AY/PY, TDS 60+ → 3 sections, simplified language. Rates largely unchanged.
Penalties
| Default | Consequence |
|---|---|
| Late filing | Rs. 5,000 + 234A interest |
| Under-reporting | 50% penalty (270A) |
| Misreporting | 200% penalty |
| Evasion > Rs. 25L | Imprisonment 6 months-7 years |
Prosecution
Evasion > Rs. 25L = imprisonment 6 months-7 years (276C).Professional Guidance
Income tax matters can be complex. For personalized advice based on your specific situation, consult a qualified Chartered Accountant or Tax Consultant. Contact us for comprehensive tax compliance support.Disclaimer
This article is for general informational and educational purposes only. Consult a qualified Chartered Accountant, Tax Consultant, or Advocate before acting. TaxClue Consultech Pvt Ltd accepts no liability. All drafts and templates are illustrative only.