INCOME TAX ACT 2025

Income-Tax Act 2025 is the definitive, fully annotated text of India's landmark Income-tax Act 2025—the successor legislation to the Income-tax Act 1961—as further amended by the Finance Act 2026. This is Taxmann's flagship publication, now in its 73^rd Edition, and represents over six decades of unbroken editorial continuity.

The Income-tax Act 2025 is the most consequential restructuring of Indian direct tax law in over six decades. It repeals and replaces the Income-tax Act, 1961—consolidating, rationalising, and renumbering an entire body of law that had accumulated across nearly 300 amendments and countless provisos, explanations, and sub-clauses over 60 years. The 2025 Act restructures 298 sections of the old law into 535+ sections across 22 chapters, introducing logical sub-sectioning, tabular presentation of rates and conditions, cleaner definitional architecture, and a new concept of ‘tax year’ to replace the old ‘previous year/assessment year’ framework.

With over 1,500 pages, including five legislative instruments, three cross-reference tables, associated law provisions, and a comprehensive subject index—all centred around a fully annotated statutory text—this volume stands as the definitive single-volume reference on the Income-tax Act, 2025 for the Indian legal and tax community.

This publication serves the full spectrum of India's direct tax constituency:

• Practising Professionals — Chartered accountants, tax advocates, and consultants who need an annotation-rich, always-updated primary text for daily advisory, compliance, and litigation work. The volume's annotation structure is calibrated precisely for the working professional who needs to know not just the provision but also the applicable rule, the relevant CBDT circular, and the judicial meaning of key terms—all from a single source
• Corporate Tax Functions — In-house counsel, CFOs, and tax departments of companies navigating the transition from the old to the new Act, particularly in areas involving MAT computation, transfer pricing, capital gains, and the new tax regime applicable to domestic companies and co-operative societies
• Income Tax Department and Tribunal Members — Officers conducting assessment, reassessment, search, and survey proceedings; appellate authorities hearing appeals before the Commissioner (Appeals), Joint Commissioner (Appeals), and ITAT; and members dealing with revised faceless assessment and dispute resolution procedures introduced under the new Act
• International Tax Practitioners — Specialists advising on DTAA positions, non-resident taxation, transfer pricing, GAAR, CbCR, APAs, and IFSC unit taxation, all of which are significantly restructured and re-sectioned under the 2025 Act
• Law and Commerce Students, CA/CS/CMA Aspirants — The primary statutory text, with its institutional cross-references and contextual annotations, serves equally as an examination resource and a foundation for professional-level understanding of the new code