Income Tax Act, 2025

Income Tax Act 2025 is a practitioner-oriented and comprehensive presentation of the newly enacted Income-tax Act. It provides a fully annotated text of the Income-tax Act 2025 along with detailed cross-references to the erstwhile Income-tax Act 1961. This Edition is designed to serve as a definitive reference for transition, equipping readers with the statutory framework and interpretative aids necessary to implement and comply with the new law.

This book is intended for the following audience:

• Tax Professionals & Law Firms – For in-depth section-wise guidance with quick backwards mapping to the Income-tax Act 1961
• Corporate Finance & Compliance Teams – CFOs, controllers, and in-house tax managers handling TDS/TCS, transfer pricing, corporate taxation, GAAR, and dispute resolution
• Judiciary, Tribunals & Litigation Counsel – For ready reference to Notes on Clauses, Select Committee recommendations, and departmental clarifications
• Academicians & Researchers – For structured access to the Act’s provisions, schedules, Department’s FAQs, and allied laws
• Students & Aspirants – Especially useful for advanced tax law courses, chartered accountancy, company secretaryship, and law graduates

The Present Publication is the 71^st Edition | 2025, authored and edited by Taxmann’s Editorial Board, with the following noteworthy features:

• [Annotated Text of the Income-tax Act 2025] Provides clear explanations under each section
• [Cross-references to Income-tax Act 1961] Section-wise backwards mapping for ease of transition
• [Allied Laws Referenced] Incorporation of sections and regulations cited within the Act
• [Judicially Noticed Words & Phrases] Compilation of legally significant expressions relevant to interpretation
• [Comparative Analysis] Tables showing corresponding sections of the 1961 Act and the 2025 Act, both ways
• [Legislative Insights] Consolidated objections/recommendations of the Select Committee for context
• [Departmental Guidance] FAQs issued by the Income-tax Department
• [Ease of Research] Extensive subject index for quick navigation

The coverage of the book is as follows:

• Complete Text of the Income Tax Act 2025 with annotations
• Comparative Provisions Table
  • Section-to-section comparison between the 1961 and 2025 Acts
• Select Committee Observations
  • Insights into the legislative process and rationale behind provisions
• Departmental FAQs
  • Covering FAQs issued by the CBDT explaining the rationale behind the amendment in the important provisions
• Allied Laws & Judicial References
  • Mapping of relevant laws and judicially recognised terms for precision in application
• Subject Index & Appendices
  • For ease of access to specific provisions, schedules, and thematic issues

The structure of the book is as follows:

• Section-wise Format – Each section of the Income Tax Act 2025 is reproduced in full, followed by annotations
• Annotations Include
  • Corresponding provision(s) from the 1961 Act
  • Allied law references for cross-legal interpretation
  • Words & phrases judicially noticed for application in tax law
• Comparative Tables
  • Two-way tables show old-to-new and new-to-old section mappings
• Commentary
  • Comprehensive analysis highlighting differences between the old and the new law
• Supplementary Materials
  • Select Committee recommendations, Departmental FAQs, and legislative clarifications
• Indexing
  • Subject-wise and section-wise indexing for research efficiency