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Under section 530 of the Income-tax Act, 2025, if on 1 April of a tax year no Central Act has yet…

Section 530 keeps the Act working in the gap before the annual Finance Act is passed. It applies "the provision in force in the preceding tax year or the provision proposed…

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Under section 530 of the Income-tax Act, 2025, if on 1 April of a tax year no Central Act has yet provided for the charging of income-tax for that tax year, the Act has effect until such provision is made as if

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Correct answer B

Section 530 keeps the Act working in the gap before the annual Finance Act is passed. It applies "the provision in force in the preceding tax year or the provision proposed in the Bill then before Parliament, whichever is more favourable to the assessee". Neither the Bill nor the earlier provision applies automatically if it is the less favourable one, and there is no tax holiday in the meantime.

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