Reassessment Notice? Income-tax Act 1961 vs 2025 Explained (ss. 147–153 vs 279–286)

Income Tax Reassessment: 1961 Act vs 2025 Act | Procedure, Sections and Time Limits In this video, CA Ankita Bothra explains how reassessment (reopening of income tax assessments) works under the Income-tax Act, 1961 and the new Income-tax Act, 2025. It covers which Act applies today, the old-to-new section map, the procedure under both Acts, what changed in practice, the time limits for notices, and how long the Department has to complete the assessment. Chapters 0:00 Introduction: Reassessment, 1961 vs 2025 0:18 Which Act governs a reassessment today? 2:20 Section map: old to new (ss. 147–153 to ss. 279–286) 3:34 Reassessment procedure under the 1961 Act 8:44 Reassessment procedure under the 2025 Act 13:02 Information, approval and what changed in practice 13:14 Time limits for notices: old vs new 15:50 Time to complete the assessment (s. 153 vs s. 286) and wrap-up What you will learn Which Act applies: the 1961 Act still governs assessment years up to AY 2026-27 and proceedings pending on 1 April 2026. The 2025 Act governs tax year 2026-27 onwards. Section map: s. 147 to s. 279, s. 148 to s. 280, s. 148A to s. 281, s. 149 to s. 282, s. 150 to s. 283, s. 151 to s. 284, s. 152 to s. 285 and s. 153 to s. 286. Connect with CA Ankita Bothra, FinTaxByAB Email: ankitabothraca@gmail.com #IncomeTax #Reassessment #IncomeTaxAct2025 #Section148 #IncomeTaxNotice #CAAnkitaBothra #FinTaxByAB #TaxLaw 1961 procedure: information, show-cause under s. 148A (reply in 7 to 30 days), the s. 148A(d) order within one month, approval under s. 151, notice under s. 148, then assessment. 2025 procedure: information under s. 280(6), show-cause under s. 281, the s. 281(3) order with approval under s. 284, the s. 280 notice (return in 30 days to 3 months), and assessment under s. 286. The show-cause step is skipped in the s. 281(4) cases. Time limits: 3 years (1961) or 4 years (2025) for the show-cause, extended to 5 or 6 years where escaped income is ₹50 lakh or more. The notice allows a further 3 months. The new Act adds a one-year cooling-off after the tax year ends (s. 282(3)). Completion of assessment: one year from the end of the financial year in which the s. 280 notice was served, with 12 extra months for transfer-pricing cases and exclusions for stays and references. Important note: this video is for education only and is not legal advice. Rule numbers and forms under the Income-tax Rules, 2026, and some provisions for older assessment years, should be confirmed against the Act and Rules before acting on a notice.