§ 529
Chapter XXIII — Miscellaneous
Power to withdraw approval
Income-tax Act, 2025
✍️ A plain-language summary of this section is being prepared. Below is the official text.
📜 Official text
529. Where the Central Government or the Board or an income-tax authority, has
the power to grant any approval under any provision of this Act to any assessee,
the Central Government or the Board or such income-tax authority may, withdraw
such approval at any time after recording the reasons therefor, even if such provision
does not specifically allow for its withdrawal, after giving such assessee a reasonable
opportunity of being heard.
Act to have effect pending legislative provision for charge of tax.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.
Related sections
§ 499Certain transfers to be void§ 500Provisional attachment to protect revenue in certain cases§ 501Director or Director. Service of notice, generally§ 502Authentication of notices and other documents§ 503Service of notice when family is disrupted or firm etc., is dissolved§ 504Service of notice in case of discontinued business