Description

Overview and Purpose of the Income-tax Act, 2025 [ English and Hindi ]

The Income-tax Act, 2025 replaces the outdated 1961 law with a simplified, modern framework emphasizing clarity, compliance, and reduced litigation.

Necessity and Features of the New Act

The overhaul simplifies the law, reduces litigation, and aligns with global digital standards. It features plain language, consolidated provisions, rationalized exemptions, codified principles, and tech-driven compliance.

Key Features of This Book :

Reference to Old Sections :

To assist users in transitioning from the old law, corresponding provisions of the Income-tax Act, 1961 are provided wherever applicable.

Section Mapping

[New Bill Navigator]: A special mapping tool has been included to help readers locate and understand how provisions in the 1961 Act correspond to the new Act

Content

• Preliminary
• Basis of Charge
• Income which do not form part of total income
• Computation of total Income
• Income of other persons, Included in total income of Assessee
• Aggregation of Income
• Set off, or carry Forward and set off of Losses
• Deductions to be made in computing total Income
• Rebates and Reliefs
• Special Provisions Relating to Avoidance of Tax
• General Anti-Avoidance Rule
• Mode of Payment in certain cases etc.
• Determination of Tax in special cases
• Tax Administration
• Return of Income
• Procedure for Assessment
• Special Provisions Relating to Certain Persons
• Appeals, Revision and Alternate
• Collection and Recovery of Tax
• Refunds
• Penalties
• Offences and Prosecution
• Miscellaneous

Comparison with Hindi Version

This English version has been carefully compared with the Hindi text to ensure accuracy and consistency. Wherever differences in language or interpretation arise, these have been specifically highlighted to provide clarity and avoid ambiguity. This careful cross-verification aims to support a clear and uniform understanding of the Income-tax Act, 2025 across different linguistic users.