Section 524 — Presumption as to assets, books of account, etc.: its source in the Income-tax Act, 1961

Section 524 (Presumption as to assets, books of account, etc.) of the Income-tax Act, 2025 corresponds to Section 292C (Presumption as to assets, books of account, etc.) of the Income-tax Act, 1961 as per the official CBDT correspondence.

source provisions · income-tax act, 1961

Section 292C — Presumption as to assets, books of account, etc.

read both texts · §292C (1961) vs §524 (2025)

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Source: the CBDT’s official 1961↔2025 correspondence table (incometaxindia.gov.in), captured 2026-07-21. This is a research aid — verify against the official CBDT utility ↗ before professional reliance.

frequently asked

Is Section 524 of the Income-tax Act, 2025 a new provision?

No — it derives from Section 292C of the Income-tax Act, 1961.

What does Section 524 of the Income-tax Act, 2025 deal with?

Section 524 — "Presumption as to assets, books of account, etc.", under CHAPTER XXIII - MISCELLANEOUS of the Income-tax Act, 2025.

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Nexus answers full tax questions the same way — a citation-grounded advisory artifact with verdict, authority chain, computation and drafting, every citation traceable to an official source.

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same chapter · chapter xxiii - miscellaneous · income-tax act, 2025

Section 520 — Cognizance of offences
Section 521 — Probation of Offenders Act, 1958 and section 401 of Bharatiya Nagarik Suraksha Sanhita, 2023, not to apply
Section 522 — Return of income, etc., not to be invalid on certain grounds
Section 523 — Notice deemed to be valid in certain circumstances
Section 525 — Authorisation and assessment in case of search or requisition
Section 526 — Bar of suits in civil courts
Section 527 — Power to make exemption, etc., in relation to participation in business of prospecting for, extraction, etc., of mineral oils
Section 528 — Power of Central Government or Board to condone delays in obtaining approval

frequently looked up · income-tax act, 2025

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