Section 189A of Income Tax Act for AY 2023-24

Section 189A of Income Tax Act 1961 amended by Finance Act 2022 and Income-tax Rules. Provisions applicable to past assessments of firms.

Amended and updated notes on section 189A of Income Tax Act 1961 as amended by the Finance Act 2022 and Income-tax Rules, 1962. Detail discussion on provisions and rules related to Provisions applicable to past assessments of firms.

Chapter XVI (Sections 184 to 189A) of the Income Tax Act 1961 deals with the provisions related to special provisions applicable to firms. Section 189A of IT Act 1961 provides for Provisions applicable to past assessments of firms.

Recently, we have discussed in detail section 189 (Firm dissolved or business discontinued) of IT Act 1961. Today, we learn the provisions of section 189A of Income-tax Act 1961. The amended provision of section 189A is effective for financial year 2022-23 relevant to the assessment year 2023-24.

In this article, you will learn detail of the provisions of section 189A of the Income Tax Act, 1961 Bare Act read with the Income-tax Rules, 1962 as provided by Ministry of Law and Justice, Government of India.

Section-189A: Provisions applicable to past assessments of firms

In relation to the assessment of any firm and its partners for the assessment year commencing on the 1st day of April, 1992, or any earlier assessment year, the provisions of this Chapter as they stood immediately before the 1st day of April, 1993, shall continue to apply.


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