Section 531
Section 531: power to rescind exemption already granted under section 294A of the Income-tax Act, 1961
Section 531 lets the Central Government undo an exemption, rate reduction or other income-tax or super-tax modification that had earlier been granted under section 294A of the Income-tax Act, 1961.
This explanation is AI-assisted and pending review by our CA/CS team. It is general information, not professional advice - always cross-check against the bare law text above or talk to our tax team for guidance specific to your situation.
What Section 531 says
"Where the Central Government considers it necessary or expedient so to do may, by general or special order, rescind an exemption, reduction in rate or other modification in respect of income-tax or super-tax in favour of any assessee or class of assessees or in regard to the whole or any part of the income of any assessee or class of assessees, made as per the provisions of section 294A of the Income-tax Act, 1961 (43 of 1961)."
Frequently asked questions
What kind of relief can be rescinded under Section 531?
An exemption, reduction in rate, or other modification of income-tax or super-tax that was granted for any assessee or class of assessees, or for the whole or part of their income, under section 294A of the Income-tax Act, 1961.
How does the Central Government rescind such relief?
By a general or special order, where it considers it necessary or expedient to do so.
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Talk to our tax team about this sectionLast updated 9 September 2026