Income Tax Act, 1961 As Amended by Finance Act, 2025

This 14th Edition (2025) of Income Tax Act, edited by Dr. Girish Ahuja and Dr. Ravi Gupta, incorporates all amendments introduced by the Finance Act, 2025 (Act 7 of 2025, dated 29-3-2025) along with relevant judicial decisions and CBDT circulars. It serves as a comprehensive and reliable legal reference for tax practitioners, academicians, students, and corporate professionals.

The book presents the complete statutory text of the Income Tax Act, 1961, as amended, arranged in a clear and structured manner for ease of reference. It is fully updated in line with the latest legislative framework, ensuring accuracy and relevance for both academic and professional use.

The content spans the full scope of the Income Tax Act, including:

• Preliminary provisions, definitions, and scope of total income

• Residential status and tax incidence

• Heads of income – salaries, house property, business or profession, capital gains, and other sources

• Deductions under Chapter VI-A and incentives under special provisions

• Provisions relating to set-off and carry forward of losses

• Clubbing of income, aggregation, and computation rules

• Taxation of individuals, HUFs, firms, LLPs, companies, and non-residents

• Special provisions for international taxation and transfer pricing

• Procedures for filing returns, assessments, reassessments, and appeals

• Penalties, prosecutions, and recovery mechanisms

• TDS/TCS provisions and advance tax requirements

• Surcharge, cess, rebates, and exemptions applicable for FY 2025–26

• Relevant judicial decisions for practical interpretation of provisions

• CBDT circulars clarifying key compliance and procedural aspects

This edition is particularly suitable for:

• Chartered accountants, tax consultants, and advocates practising in taxation

• Law and commerce students preparing for professional examinations

• Corporate tax managers ensuring compliance with the latest legal framework

• Academicians and researchers in taxation and fiscal policy

Whether used in professional practice, academic study, or corporate compliance, this updated edition delivers the complete legislative authority of the Income Tax Act, 1961, as it applies after the Finance Act, 2025.