Income Tax Act, 2025 | Amended by the Finance Act, 2026

This edition of The Income Tax Act, 2025, enacted as Act No. 30 of 2025 dated 21-8-2025 and effective from 01-04-2025, updated with all amendments introduced by The Finance Act, 2026 (Act 4 of 2026, dated 30-3-2026), serves as a comprehensive and dependable legal reference for students, tax professionals, advocates, accountants, corporate advisors, and candidates preparing for competitive and professional examinations. Published as a Bare Act with short comments, this volume presents the statutory text in an accurate and accessible format, making it highly useful for legal study, practical taxation work, and authoritative referencing.

The book contains the complete provisions of the newly enacted Income Tax Act, 2025, revised in line with the latest Finance Act, 2026, ensuring alignment with the current legislative framework and tax regime applicable from Assessment Year 2026 onward. It is particularly valuable for readers seeking to understand the transition from the earlier law to the new taxation code.

A key feature of this edition is the inclusion of a comparative table showing provisions of the Income Tax Act, 1961 and corresponding provisions of the Income Tax Act, 2025, and vice-versa, enabling smooth cross-reference and interpretation during the migration to the new statute.

The content spans the full scope of modern income tax law, including:

• Definitions, scope, and charging provisions
• Residential status and incidence of taxation
• Classification and computation of taxable income
• Salaries, house property, business income, capital gains, and other sources
• Deductions, exemptions, rebates, and relief provisions
• Set-off and carry forward of losses
• Taxation of individuals, HUFs, firms, LLPs, companies, and non-residents
• Return filing procedures and compliance obligations
• Assessment, reassessment, appeals, and dispute resolution
• Penalties, recovery, prosecution, and enforcement measures
• TDS, TCS, advance tax, and withholding obligations
• Transitional provisions from the 1961 Act to the 2025 Act
• Amendments introduced by the Finance Act, 2026

This edition is particularly suitable for:

• Law students and academicians studying India’s reformed direct tax framework
• Chartered accountants, tax consultants, and finance professionals needing an updated statutory reference
• Advocates and litigators handling income tax matters
• Corporate compliance officers ensuring regulatory adherence
• Examination candidates requiring the latest Bare Act text with concise guidance

Whether used in the classroom, office, courtroom, or examination hall, this updated edition of The Income Tax Act, 2025 delivers the full legislative authority of India’s new income tax law with practical comparative support and current amendments as applicable in 2026.