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Comparative study of the provisions of Income-tax Act, 1961 & Income-tax Act, 2025 1
2(1)“advancetax”2(
2(1A)“agriculturalincome”2(
1B)“amalgamation”2(
1C)“AdditionalCommissioner”2(
1D)“AdditionalDirector”2(
2)“annualvalue”2(
2(3)—— 2(4)“AppellateTribunal”2(
2(5)“approvedgratuityfund”2(
7A)“AssessingOfficer”2(
)“assessment”2(
2(9)Assessmentyear—
2(9A)“AssistantCommissioner”2(
2(9B)“AssistantDirector”2(
2(10)“averagerateofincome-tax”2(16)
2(11)“blockofassets”2(17)
2(12)“Board”2(
2(12A)“booksorbooksofaccount”2(19)
2(13)“business”2(20)
2(13A)“businesstrust”2(21) 13 2(14)“capitalasset”2(22) 14 2(15)“charitablepurpose”2(23) 17
2(15A)“ChiefCommissioner”2(24)
2(15B)“child”2(25)
2(16)“Commissioner”2(26)
2(16A)“Commissioner(Appeals)”2(27)
2(17)“company”2(28)
2(18)“companyinwhichthepublicaresubstantiallyinterested”2(29) 21
2(19)“co-operativesociety”2(32) 23
2(19A)“DeputyCommissioner”2(36) 23
2(19AA)“demerger”2(35) 24
SECTIONHEADINGSECTION
2(19AAA)“demergedcompany”2(34)
2(19B)“DeputyCommissioner(Appeals)”—
2(19C)“DeputyDirector”2(37)
2(20)“director”,“manager”and“managingagent”2(
2(21)“DirectorGeneralorDirector”2(
2(22)“dividend”2(
2(22A)“domesticcompany”2(
2(22AA)“document”2(
2(22AAA)“electoraltrust”2(
2(22B)“fairmarketvalue”2(
2(23)(i)“firm”2(
2(23)(ii)“partner”2(
2(23)(iii)“partnership”2(
2(23A)“foreigncompany”2(
2(23B)“fringebenefits”—
2(23C)“hearing”2(
2(24)“income”2(
2(25)“Income-taxOfficer”2(
2(25A)“India”2(
2(26)“Indiancompany”2(
2(26A)“infrastructurecapitalcompany”2(
2(26B)“infrastructurecapitalfund”2(
2(27)——
2(28)“InspectorofIncome-tax”2(
2(28A)“interest”2(
2(28B)“interestonsecurities”2(60)
2(28BB)“insurer”2(58)
2(28C)“JointCommissioner”2(62)
2(28CA)“JointCommissioner(Appeals)”2(63)
2(28D)“JointDirector”2(64)
2(29)“legalrepresentative”2(65)
2(29A)“liabletotax”2(66)
2(29AA)“long-termcapitalasset”2(67)
2(29B)“long-termcapitalgain”2(68)
2(29BA)“manufacture”2(69)
2(29C)“maximummarginalrate”2(70)
2(29D)“NationalTaxTribunal”—
2(30)“non-resident”2(72)
2(31)“person”2(77)
2(32)“personwhohasasubstantialinterestinthecompany”2(79)
2(33)“prescribed”2(80)
2(34)“previousyear”—
2(34A)“PrincipalChiefCommissionerofIncome-tax”2(81)
)
)
)
)
)
)
)
)
)
)
)
SECTIONHEADINGSECTION
2(34B)“PrincipalCommissionerofIncome-tax”2(
2(34C)“PrincipalDirectorofIncome-tax”2(83)
2(34D)“PrincipalDirectorGeneralofIncome-tax”2(84)
2(35)“principalofficer”2(
2(36)“profession”2(
2(36A)“publicsectorcompany”2(
2(37)“publicservant”2(89)
2(37A)“rateorratesinforce”or“ratesinforce”2(
2(38)“recognisedprovidentfund”2(91)
2(39)——
2(40)“regularassessment”2(
2(41)“relative”2(
2(41A)“resultingcompany”2(
2(42)“resident”2(
2(42A)“short-termcapitalasset”2(
2(42B)“short-termcapitalgain”2(
2(42C)“slumpsale”2(
2(43)“tax”2(
2(43A)“taxcreditcertificate”—
2(43B)—— 2(44)“TaxRecoveryOfficer”2(
2(45)“totalincome”2(
2(46)—— 2(47)“transfer”2(
47A)“virtualdigitalasset”2(
48)“zerocouponbond”2(
)
)
)
)
1)AgriculturalincomeSch.II(1)
2)AmountreceivedbymemberofHUFSch.III(1)
2A)Partner’sshareinprofitoffirmSch.III(2)
SECTIONS OF INCOME-TAX ACT, 1961
CORRESPONDING SECTIONS OF INCOME-TAX ACT, 2025
SECTIONHEADINGSECTION
10(3)——
10(4)Incomebywayofinterest,premiumonredemptionorother paymentonsuchsecurities,bonds,annuitycertificates, savingscertificates,othercertificatesissuedbytheCentral Governmentanddeposits
AnyincomebywayofinterestSch.IV(1)
10(4B)——
10(4C)InterestonRupeeDenominatedBonds—
10(4D)CertainIncomearisingtoCategory-IIIAlternative InvestmentFund(AIF)locatedinInternationalFinancial ServicesCentre(IFSC)
10(4E)Incomefromtransferofnon-deliverableforwardcontracts oroffshorederivativeinstrumentsorover-the-counter derivatives
10(4F)Royaltyorinterestincomereceivedbyanon-residentfrom leaseofaircraftoraship
10(4G)Incomeofanon-residentarisingfromportfolioofsecurities orfinancialproductsorfunds,managedthroughIFSCor fromspecifiedactivitycarriedoutbythespecifiedperson
10(4H)Anyincomeearnedbyanon-residentorunitofanIFSCon transferofsharesofdomesticcompanyengagedinaircraft leasingbusinessinIFSC
Sch.VI(2)
Sch.VI(3)
Sch.VI(4)
10(5)LeaveTravelConcessionSch.III(8)
10(5A)——
10(5B)——
10(6)(i)——
10(6)(ii)Anyremunerationreceivedforserviceinthecapacityasan officialmentionedincolumnC,notbeingacitizenofIndia
10(6)(iii)to(v)——
10(6)(vi)Anyremunerationreceivedasanemployeeforservices renderedbyhimduringhisstayinIndia
10(6)(via)
10(6)(vii)——
10(6)(viia)——
10(6)(viii)Anyincomechargeableunderthehead“Salaries”,received ordueasremunerationforservicesrenderedinconnection withhisemploymentonaforeignship
10(6)(ix)&(x)——
10(6)(xi)AnyremunerationreceivedasanemployeeoftheGovernmentofaforeignState
10(6A)Taxpaidonbehalfofforeigncompanyontheroyaltyand feesfortechnicalservices
10(6B)Taxpaidonbehalfofforeigncompanyornon-residenton otherincome
10(6BB)TaxpaidonbehalfofforeignGovernmentorforeign enterprisederivingincomebywayofleaseofaircraftor aircraftengine
10(6C)TechnicalfeesreceivedbyanotifiedforeigncompanySch.IV(6)
10(6D)Royalty/Feesreceivedbynon-residentfromNationalTechnicalResearchOrganisation
10(7)RemunerationbyIndianGovt.tooverseasemployeesSch.III(9)
10(8)Incomeofforeigngovernmentemployeeunderco-operative technicalassistanceprogramme
10(8A)Certainincomesofnon-residentconsultantsengaged byInternationalorganizationsforRenderingTechnical ServicesinIndia
10(8B)Certainincomeofemployeesofnon-residentconsultants engagedbyInternationalorganizationsforRendering TechnicalServicesinIndia
10(9)Certainincomesoffamilymembersofindividuals consultantsu/s10(8)or10(8A)or10(8B)
10(10)Gratuity19
10(10A)Pension19
10B)RetrenchmentCompensation19
10(10BB)CompensationforBhopalGasLeakDisaster— 10(10BC)CompensationonaccountofanydisasterSch.III(3)
)Taxonnon-monetaryperquisitespaidbytheemployerSch.III(10)
10D)AnysumreceivedunderalifeinsurancepolicySch.II(2)
11)ExemptioninrespectofpaymentfromprovidentfundsSch.II(3)
)ExemptioninrespectofpaymentfromSukanyaSamriddhi
12)AmountreceivedfromrecognizedProvidentFundSch.II(4)
12A)AmountpaidbyNPStrusttoanassesseeSch.II(6)
12AA)AmountpaidbyNPStrusttoasubscriberofUnified PensionScheme(UPS)
12AB)LumpsumamountreceivedbyasubscriberofUnified PensionScheme(UPS)
12B)PartialamountpaidbyNPStrusttoanemployeeSch.III(4)
12BA)PartialamountpaidbyNPStrusttotheparentorguardian ofaminor
10(12C)AmountreceivedfromAgniveerCorpusFundSch.II(7)
10(13)PaymentfromanapprovedsuperannuationfundSch.II(8)
10(13A)HouseRentAllowance(HRA)Sch.III(11)
14)(i)Prescribedspecialallowancesorbenefitsdependingon actualexpenditure
14)(ii)Prescribedspecialallowancesnotdependingonactual expenditure
10(14A)——
10(15)(i)ExemptioninrespectofspecifiedinterestincomeSch.II(11)
10(15)(iib)Exemptioninrespectofspecifiedinterestincome—
10(15)(iic)& (iv)(i) ExemptioninrespectofspecifiedinterestincomeSch.III(39)
SECTIONS OF INCOME-TAX ACT, 1961
SECTIONS OF INCOME-TAX ACT, 2025
10(15)(iid)Exemptioninrespectofspecifiedinterestincome—
10(15)(iii),(iv) (c)to(iv)(f),(iv) (g)&(iv)(h)
10(15)(iiia)to (iv)(b),(iv)(fa)
10(15)(v)Exemptioninrespectofspecifiedinterestincome— 10(15)(vi)ExemptioninrespectofspecifiedinterestincomeSch.II(12)
10(15)(vii)InterestonbondsissuedbyalocalauthorityorbyaState PooledFinanceEntity
10(15)(viii)Interestreceivedbynon-residentondepositmadeinoffshoreBankingUnit
10(15)(ix)InterestpayablebyunitinanIFSCSch.VI(12)
10(15A)LeaserentofanaircraftSch.IV(14)
10(15B)LeaserentofacruiseshipoperatinginIndiaSch.IV(9)
16)EducationalscholarshipSch.II(9)
17)(i)DailyallowancetoaMemberofParliamentorState Legislature
10(17)(ii)AnyotherallowancetoaMemberofParliamentSch.III(6)
17)(iii)ConstituencyallowancetoaMemberofStateLegislatureSch. III(7)
10(17A)AwardsandRewardsSch.II(10)
10(18)(i)PensiontogallantryawardwinnerSch.III(14)
10(18)(ii)Familypensiontoanyfamilymemberofagallantryaward winner
10(18A)——
10(19)PensiontowidowofmemberofarmedforcesSch.III(16)
10(19A)AnnualvalueofonepalaceSch.III(39)
10(20)IncomeoflocalauthoritySch.III(22) 173
10(20A)——
10(21)IncomeofresearchassociationSch.III(23) 174
10(22)——
10(22A)——
10(22B)Incomeofanewsagency— 10(23)——
10(23A)IncomeofaprofessionalassociationSch.III(24) 177
10(23AA)IncomereceivedonbehalfofRegimentalFundSch.VII(1) 178
10(23AAA)IncomeofafundestablishedforwelfareofemployeesSch.VII(2) 179
10(23AAB)IncomeofpensionfundSch.VII(3) 179
10(23B)IncomeofKhadiorvillageIndustriesInstitutionSch.III(25) 180
10(23BB)IncomeofauthorityestablishedforDevelopmentofKhadi orVillageIndustriesintheState Sch.VII(4) 182
10(23BBA)Incomesofstatutorybodiesfortheadministrationofpublic charitabletrust Sch.VII(5) 182
10(23BBB)IncomeofEuropeanEconomicCommunitySch.IV(10) 183
10(23BBC)IncomeofSAARCfundSch.VII(6) 184
10(23BBD)AsianOrganisation—
SECTIONS OF INCOME-TAX ACT, 1961 CORRESPONDING SECTIONS OF INCOME-TAX ACT, 2025
SECTIONHEADINGSECTION
10(23BBE)IncomeofIRDASch.VII(7)
10(23BBF)——
10(23BBG)IncomeofCentralElectricityRegulatoryCommission (CERC)
10(23BBH)IncomeofthePrasarBharatiSch.VII(9)
10(23C)(i)PMNationalReliefFundandPMCARESFundSch.VII(10)
10(23C)(ii)PMFundforpromotionofFolkArtSch.VII(11)
10(23C)(iii)PMAidtoStudentsFundSch.VII(12)
10(23C)(iiia)NationalFoundationforCommunalHarmonySch.VII(13)
10(23C)(iiiaa)SwachhBharatKoshSch.VII(14)
10(23C)(iiiaaa)CleanGangaFundSch.VII(15)
10(23C)(iiiaaaa)CMReliefFundorLieutenantGovernorReliefFundSch.VII(16)
10(23C)(iiiab)Universityoreducationalinstitutionwhollyorsubstantially financedbythegovernment
10(23C)(iiiac)Hospitalorotherinstitutionwhollyorsubstantiallyfinanced bytheGovernment
10(23C)(iiiad)Universityoreducationalinstitutionwhoseannualreceipts donotexceedRs.5crore
10(23C)(iiiae)Hospitalorotherspecifiedinstitutionwhoseannualreceipts donotexceedRs.5crore
10(23C)(iv)to (via) Incomeofanyotherfund,institution,trust,university, hospital,etc.
10(23D)(i)AMutualFundregisteredundertheSecuritiesandExchangeBoardofIndiaAct,1992(15of1992)orregulations madethereunder
10(23D)(ii)AnyMutualFundsetupbyapublicsectorbankora publicfinancialinstitutionorauthorisedbytheReserve BankofIndia
)IncomeofasecuritisationtrustSch.III(26)
10(23E)——
10(23EA)CertainincomesofnotifiedInvestorProtectionFundsset upbyrecognisedstockexchangesinIndia
10(23EB)——
10(23EC)CertainincomesofnotifiedInvestorProtectionFundsset upbycommodityexchangesinIndia
10(23ED)CertainincomesofnotifiedInvestorProtectionFundsset upbyadepository
10(23EE)IncomeofCoreSettlementGuaranteeFundSch.III(30)
10(23F)VentureCapitalFundSch.V(8)
10(23FA)VentureCapitalCompanySch.V(8)
10(23FB)Incomeofaventurecapitalfundoraventurecapital companyfrominvestmentinaventurecapitalundertaking
10(23FBA)IncomeofaninvestmentfundSch.V(1)
10(23FBB)IncomeofunitholderofinvestmentfundSch.V(2) 223
10(23FBC)IncomereceivedbyaunitholderofCategoryIIIAIFSch.VI(9) 224
10(23FC)IncomeofaBusinessTrustSch.V(3)
10(23FCA)Certainincomeofabusinesstrustbeingarealestate investmenttrust
SECTIONS OF INCOME-TAX ACT, 1961
SECTIONS OF INCOME-TAX ACT, 2025
10(23FD)DistributedIncomeofaUnitHolderfromtheBusinessTrustSch.V(5)
10(23FE)CertainincomeofwhollyownedsubsidiaryofAbuDhabi InvestmentAuthorityorSovereignwealthfundorpension fund
10(23FF)Capitalgainsfromtransferofsharesofacompanyresident inIndiaonaccountofrelocationofoffshorefunds
10(23G)——
10(24)IncomeofaregisteredtradeunionSch.III(31)
10(25)(i)IncomeofemployeewelfarefundsSch.III(32)
10(25)(ii)IncomeofemployeewelfarefundsSch.VII(22)
10(25)(iii)IncomeofemployeewelfarefundsSch.VII(23)
10(25)(iv)IncomeofemployeewelfarefundsSch.VII(24)
10(25)(v)(a)IncomeofemployeewelfarefundsSch.VII(25)
10(25)(v)(b)IncomeofemployeewelfarefundsSch.VII(26)
10(25A)IncomeoftheEmployees’StateInsuranceFundSch.VII(27)
10(26)IncomeofamemberofaScheduledTribeSch.III(19)
10(26A)——
10(26AA)—— 10(26AAA)IncomeofaSikkimeseindividualSch.III(20)
10(26AAB)IncomeofanAgriculturalProduceMarketingCommittee/ Board
10(26B)IncomeofcertaincorporationestablishedforpromotinginterestofmembersofScheduledCaste
10(26BB)Incomeofacorporationestablishedforpromotinginterest ofminoritycaste
10(26BBB)Incomeofacorporationestablishedforex-servicemenSch.VII(31)
10(27)Incomeofaco-operativesocietyformedforpromoting theinterestsofthemembersofScheduledCastesor ScheduledTribes
10(28)——
10(29)——
10(29A)(a)IncomeofCoffeeBoardSch.VII(33)
10(29A)(b)IncomeofRubberBoardSch.VII(34)
10(29A)(c)IncomeofTeaBoardSch.VII(35)
10(29A)(d)IncomeofTobaccoBoardSch.VII(36)
10(29A)(e)IncomeofMarineProductsExportDevelopmentAuthoritySch.VII(37)
10(29A)(f)IncomeofAgriculturalandProcessedFoodProductsExport DevelopmentAuthority Sch.VII(38)
10(29A)(g)IncomeofSpicesBoardSch.VII(39)
10(29A)(h)IncomeofCoirBoardSch.VII(40)
10(30)SubsidyfromtheTeaBoardSch.III(21)
10(31)SubsidyfromtheRubberBoard,CoffeeBoard,Spices BoardandothernotifiedBoard Sch.III(21)
10(32)IncomeofaminorchilduptocertainlimitSch.III(17)
10(33)CapitalgainsontransferofunitoftheUnitScheme,1964Sch.II(14)
10(34)Dividends—
SECTIONS OF INCOME-TAX ACT, 1961 CORRESPONDING SECTIONS OF INCOME-TAX ACT, 2025
10(34A)Incomeofashareholderonaccountofbuybackofshares bythecompany
10(34B)DividendincomeofanIFSCunitengagedinthe aircraftleasingbusinessfromacompanywhichisalso anIFSCUnitengagedintheaircraftleasingbusiness
10(35)Anyincomearisingfromthetransferofacapitalasset,being aunitoftheUnitScheme,1964referredtoinSchedule ItotheUnitTrustofIndia(TransferofUndertakingand Repeal)Act,2002(58of2002)
10(35A)Incomeofaninvestorreceivedfromasecuritisationtrust—
10(36)LTCGincaseofsharesSch.II(17)
10(37)Capitalgainsoncompulsoryacquisitionofurban agriculturalland
10(37A)Capitalgainontransferofspecifiedcapitalassetsunder landpoolingschemeoftheAndhraPradeshGovernment
10(38)LTCGincaseofshares—
10(39)IncomefrominternationalsportingeventSch.III(33)
10(40)GrantsreceivedbyspecifiedsubsidiarycompanySch.III(39)
10(41)——
10(42)Incomeofcertainnon-profitbodyorauthoritySch.III(34)
10(43)LoaninthecaseofreversemortgageSch.III(35)
10(44)IncomeofNewPensionSystemTrustSch.VII(41)
10(45)——
10(46)Specifiedincomeofentitieshavingtheobjectofregulating oradministeringanyactivityforthebenefitofthegeneral public
10(46A)Incomeofbodiesorauthoritiesortrustsorcommissions thatareestablishedorconstitutedwiththespecificpurposesofdealingwithandsatisfyingtheneedofhousing accommodation,planning,developmentorimprovement ofcities,townsorvillages,regulatingorregulatingand developinganyactivityforthebenefitofthegeneralpublic, orregulatinganymatter,forthebenefitofthegeneralpublic
10(46B)(i)NationalCreditGuaranteeTrusteeCompanyLimited, beingacompanyestablishedandwhollyfinancedbythe CentralGovernmentforthepurposesofoperatingcredit guaranteefundsestablishedandwhollyfinancedbythe CentralGovernment
10(46B)(ii)Acreditguaranteefundestablishedandwhollyfinanced bytheCentralGovernmentandmanagedbytheNational CreditGuaranteeTrusteeCompanyLimited
10(46B)(iii)CreditGuaranteeFundTrustforMicroandSmallEnterprises,beingatrustcreatedbytheCentralGovernmentand theSmallIndustriesDevelopmentBankofIndiaestablished underSection3(1)oftheSmallIndustriesDevelopment BankofIndiaAct,1989(39of1989)
10(47)AnyincomeofanotifiedinfrastructuredebtfundSch.VII(46)
10(48)Incomeonaccountofimportofcrudeoiletc.Sch.IV(11)
10(48A)IncomeonaccountofstorageandsaleofcrudeoilSch.IV(12)
10(48B)IncomeonaccountofsaleofleftoverstockofcrudeoilSch.IV(13)
10(48C)IncomeonaccountofreplenishmentofcrudeoilSch.III(37)
SECTIONS OF INCOME-TAX ACT, 1961
10(48D)Anyincomeaccruingorarisingtoaninstitutionestablished forfinancingtheinfrastructureanddevelopment
10(48E)Anyincomeaccruingorarisingtoadevelopmentalfinancing institution,licensedbytheRBI
SECTIONS OF INCOME-TAX ACT, 2025
10(49)——
10(50)Incomewhichissubjecttoequalisationlevy—
10ASpecialprovisioninrespectofnewlyestablishedundertakingsinfreetradezone,etc.
10AASpecialprovisionsinrespectofnewlyestablishedunitsin SpecialEconomicZones 144
10BSpecialprovisionsinrespectofnewlyestablishedhundred percentexport-orientedundertakings
10BASpecialprovisionsinrespectofexportofcertainarticles orthings
10BBMeaningofcomputerprogrammesincertaincases—
10CSpecialprovisioninrespectofcertainindustrialundertakingsinNorth-EasternRegion 11Incomefrompropertyheldforcharitableorreligious purposes
wardareasincertainStates 33Developmentrebate— 33ADevelopmentallowance—
33ACReservesforshippingbusiness— 33BRehabilitationallowance—
34Conditionsfordepreciationallowanceanddevelopment rebate
34ARestrictiononunabsorbeddepreciationandunabsorbed investmentallowanceforlimitedperiodincaseofcertain domesticcompanies
communicationservices
nicationservices
35CCAExpenditurebywayofpaymenttoassociationsandinstitutionsforcarryingoutruraldevelopmentprogrammes 35CCBExpenditurebywayofpaymenttoassociationsandinstitutionsforcarryingoutprogrammesofconservationof naturalresources
44BBBSpecialprovisionforcomputingprofitsandgainsof foreigncompaniesengagedinthebusinessofcivilconstruction,etc.,incertainturnkeypowerprojects
44BBCSpecialprovisionforcomputingprofitsandgainsofbusinessofoperationofcruiseshipsincaseofnon-residents
44BBDSpecialprovisionforcomputingprofitsandgainsof non-residentsengagedinbusinessofprovidingservices ortechnologyforsettingupanelectronicsmanufacturing facilityorinconnectionwithmanufacturingorproducing electronicgoods,articleorthinginIndia
44CDeductionofheadofficeexpenditureinthecaseof
44DSpecialprovisionsforcomputingincomebywayofroyalties,etc.,inthecaseofforeigncompanies 44DASpecialprovisionforcomputingincomebywayofroyalties,
54BCapitalgainontransferoflandusedforagriculturalpurposesnottobechargedincertaincases
54DCapitalgainoncompulsoryacquisitionoflandsandbuildingsnottobechargedincertaincases
54ECapitalgainontransferofcapitalassetsnottobecharged incertaincases
54EACapitalgainontransferoflong-termcapitalassetsnotto bechargedinthecaseofinvestmentinspecifiedsecurities
54EBCapitalgainontransferoflong-termcapitalassetsnotto bechargedincertaincases
54ECCapitalgainnottobechargedoninvestmentincertain bonds
54EDCapitalgainontransferofcertainlistedsecuritiesorunit nottobechargedincertaincases
54EECapitalgainnottobechargedoninvestmentinunitsof aspecifiedfund
54FCapitalgainontransferofcertaincapitalassetsnottobe chargedincaseofinvestmentinresidentialhouse
54GExemptionofcapitalgainsontransferofassetsincasesof shiftingofindustrialundertakingfromurbanarea
chargedincertaincases
OF
69Unexplainedinvestments103
69AUnexplainedmoney,etc.104
69BAmountofinvestments,etc.,notfullydisclosedinbooks ofaccount
69CUnexplainedexpenditure,etc.105
69DAmountborrowedorrepaidonhundi106
70Setoffoflossfromonesourceagainstincomefromanother sourceunderthesameheadofincome
71Setoffoflossfromoneheadagainstincomefromanother109
71ATransitionalprovisionsforsetoffoflossunderthehead “Incomefromhouseproperty”
71BCarryforwardandsetoffoflossfromhouseproperty110
72Carryforwardandsetoffofbusinesslosses112
72AProvisionsrelatingtocarryforwardandsetoffofaccumulatedlossandunabsorbeddepreciationallowancein amalgamationordemerger,etc.
72AACarryforwardandsetoffofaccumulatedlossandunabsorbeddepreciationallowanceinschemeofamalgamation incertaincases
72ABProvisionsrelatingtocarryforwardandsetoffofaccumulatedlossandunabsorbeddepreciationallowancein businessreorganisationofco-operativebanks
head“Incomefromothersources”
80CDeductioninrespectoflifeinsurancepremia,deferred annuity,contributionstoprovidentfund,subscriptionto certainequitysharesordebentures,etc.
80CCADeductioninrespectofdepositsunderNationalSavings Schemeorpaymenttoadeferredannuityplan
80CCBDeductioninrespectofinvestmentmadeunderEquity LinkedSavingsScheme
80CCELimitondeductionsundersections80C,80CCCand80CCD123
80CCFDeductioninrespectofsubscriptiontolong-terminfrastructurebonds
80CCGDeductioninrespectofinvestmentmadeunderanequity savingsscheme 80CCHDeductioninrespectofcontributiontoAgnipathScheme125
80DDDeductioninrespectofmaintenanceincludingmedical treatmentofadependantwhoisapersonwithdisability
80HHDeductioninrespectofprofitsandgainsfromnewly establishedindustrialundertakingsorhotelbusinessin backwardareas
80HHADeductioninrespectofprofitsandgainsfromnewlyestablishedsmall-scaleindustrialundertakingsincertainareas
80HHBDeductioninrespectofprofitsandgainsfromprojects outsideIndia
80HHBADeductioninrespectofprofitsandgainsfromhousing projectsincertaincases
80HHCDeductioninrespectofprofitsretainedforexportbusiness—
80HHDDeductioninrespectofearningsinconvertibleforeign exchange
80HHEDeductioninrespectofprofitsfromexportof computer software,etc.
ACT, 1961
80HHFDeductioninrespectofprofitsandgainsfromexportor transferoffilmsoftware,etc.
80-IDeductioninrespectofprofitsandgainsfrom industrial undertakingsafteracertaindate,etc.
80-IADeductionsinrespectofprofitsandgainsfromindustrial undertakingsorenterprisesengagedininfrastructure development,etc.
80-IABDeductionsinrespectofprofitsandgainsbyanundertakingorenterpriseengagedindevelopmentofSpecial EconomicZone
80-IACSpecialprovisioninrespectofspecifiedbusiness140
80-IBDeductioninrespectofprofitsandgainsfromcertain industrialundertakingsotherthaninfrastructuredevelopmentundertakings
80-IBADeductionsinrespectofprofitsandgainsfromhousing projects
80-ICSpecialprovisionsinrespectofcertainundertakingsor enterprisesincertainspecialcategoryStates
80-IDDeductioninrespectofprofitsandgainsfrombusinessof hotelsandconventioncentresinspecifiedarea
80-IESpecialprovisionsinrespectofcertainundertakingsin North-EasternStates
80JJADeductioninrespectofprofitsandgainsfrombusinessof collectingandprocessingofbio-degradablewaste
80-ODeductioninrespectofroyalties,etc.,fromcertainforeign enterprises
80PDeductioninrespectofincomeofco-operativesocieties149
80PADeductioninrespectofcertainincomeofProducerCompanies
80QDeductioninrespectofprofitsandgainsfromthebusiness ofpublicationofbooks
80QQADeductioninrespectofprofessionalincomeofauthorsof textbooksinIndianlanguages
80QQBDeductioninrespectofroyaltyincome,etc.,ofauthorsof certainbooksotherthantextbooks
80RDeductioninrespectofremunerationfromcertainforeign sourcesinthecaseofprofessors,teachers,etc.
80RRDeductioninrespectofprofessionalincomefromforeign sourcesincertaincases
80RRADeductioninrespectofremunerationreceivedforservices renderedoutsideIndia
80RRBDeductioninrespectofroyaltyonpatents152
80TTADeductioninrespectofinterestondepositsinsavings
86Shareofmemberofanassociationofpersonsorbodyof individualsintheincomeoftheassociationorbody
accountmaintainedinanotifiedcountry
90Agreementwithforeigncountriesorspecifiedterritories159
90AAdoptionbyCentralGovernmentofagreementbetween specifiedassociationsfordoubletaxationrelief
havingregardtoarm’slengthprice
92DMaintenance,keepingandfurnishingofinformationand documentbycertainpersons
92EReportfromanaccountanttobefurnishedbypersonsenteringintointernationaltransactionorspecifieddomestic transaction
92FDefinitionsofcertaintermsrelevanttocomputationof arm’slengthprice,etc.
93Avoidanceofincome-taxbytransactionsresultingintransferofincometonon-residents
locatedinnotifiedjurisdictionalarea
includinghorseraces,cardgamesandothergamesofany sortorgamblingorbettingofanyformornaturewhatsoever
fundoftheUnitTrustofIndiaorofMutualFunds
subsidiaryIndiancompany
115-OTaxondistributedprofitsofdomesticcompanies— 115PInterestpayablefornon-paymentoftaxbydomestic companies
115QWhencompanyisdeemedtobeindefault— 115QATaxondistributedincometoshareholders—
115QBInterestpayablefornon-paymentoftaxbycompany— 115QCWhencompanyisdeemedtobeassesseeindefault— 115RTaxondistributedincometounitholders— 115SInterestpayablefornon-paymentoftax— 115TUnitTrustofIndiaorMutualFundtobeanassesseein default 115TATaxondistributedincometoinvestors—
115VVLimitforcharterinoftonnage232
115VWMaintenanceandauditofaccounts232
115VXDeterminationoftonnage227
115VYAmalgamation233
115VZDemerger233
115VZAEffectoftemporarilyceasingtooperatequalifyingships232
115VZCExclusionfromtonnagetaxscheme234
115WDefinitions—
115WAChargeoffringebenefittax— 115WBFringebenefits— 115WCValueoffringebenefits— 115WDReturnoffringebenefits— 115WEAssessment—
115WFBestjudgmentassessment— 115WGFringebenefitsescapingassessment— 115WHIssueofnoticewherefringebenefitshaveescapedassessment
115WIPaymentoffringebenefittax— 115WJAdvancetaxinrespectoffringebenefits— 115WKInterestfordefaultinfurnishingreturnoffringebenefits— 115WKARecoveryoffringebenefittaxbytheemployerfromthe employee
115WKBDeemedpaymentoftaxbyemployee— 115WLApplicationofotherprovisionsofthisAct— 115WMChapterXII-Hnottoapplyafteracertaindate— 116Income-taxauthorities236
orPrincipalDirectororDirector,PrincipalChiefCommissionerorChiefCommissionerorPrincipalCommissioner orCommissionerandJointCommissioner
144BAReferencetoPrincipalCommissionerorCommissioner incertaincases
145Methodofaccounting276
148BPriorapprovalforassessment,reassessmentorrecomputationincertaincases
149Timelimitfornoticesundersections148and148A282
150Provisionforcaseswhereassessmentisinpursuanceof anorderonappeal,etc.
andrecomputation
153AAssessmentincaseofsearchorrequisition— 153BTime-limitforcompletionofassessmentundersection153A—
153CAssessmentofincomeofanyotherperson— 153DPriorapprovalnecessaryforassessmentincasesofsearch orrequisition 154Rectificationofmistake287
157Intimationofloss291
157AFacelessrectification,amendmentsandissuanceofnotice orintimation
158Intimationofassessmentoffirm—
158AProcedurewhenassesseeclaimsidenticalquestionoflaw ispendingbeforeHighCourtorSupremeCourt
158AAProcedurewheninanappealbyrevenueanidenticalquestionoflawispendingbeforeSupremeCourt
158ABProcedurewhereanidenticalquestionoflawispending beforeHighCourtsorSupremeCourt
158BDefinitions301
158BAAssessmentoftotalundisclosedincomeasaresultofsearch292
158BBComputationoftotalundisclosedincomeofblockperiod293
158BCProcedureforblockassessment294
158BFCertaininterestsandpenaltiesnottobeleviedorimposed297
158BFALevyofinterestandpenaltyincertaincases298
158BGAuthoritycompetenttomakeassessmentofblockperiod299
197BLowerdeductionincertaincasesforalimitedperiod— 198Taxdeductedisincomereceived396
205Baragainstdirectdemandonassessee401
206Personsdeductingtaxtofurnishprescribedreturns— 206AFurnishingofstatementinrespectofpaymentofanyincometoresidentswithoutdeductionoftax
206AARequirementtofurnishPermanentAccountNumber397 1485
206ABSpecialprovisionfordeductionoftaxatsourcefornon-filers ofincome-taxreturn
liquor,forestproduce,scrap,etc.
206CATaxcollectionaccountnumber—
206CCRequirementtofurnishPermanentAccountnumberby collectee
206CCASpecialprovisionforcollectionoftaxatsourcefornon-filers ofincome-taxreturn
208Conditionsofliabilitytopayadvancetax404 1510 209Computationofadvancetax405 1510
210Paymentofadvancetaxbytheassesseeofhisownaccord orinpursuanceoforderofAssessingOfficer
214InterestpayablebyGovernment— 215Interestpayablebyassessee— 216Interestpayablebyassesseeincaseofunder-estimate,etc.— 217Interestpayablebyassesseewhennoestimatemade—
218Whenassesseedeemedtobeindefault409 1518 219Creditforadvancetax410 1519
220Whentaxpayableandwhenassesseedeemedindefault411 1519 221Penaltypayablewhentaxindefault412 1524
222CertificatetoTaxRecoveryOfficer413 1525 223TaxRecoveryOfficerbywhomrecoveryistobeeffected414 1526
224Validityofcertificateandcancellationoramendment thereof 413 1527
225Stayofproceedingsinpursuanceofcertificateandamendmentorcancellationthereof 415 1528
229Recoveryofpenalties,fine,interestandothersums419 1535 230Taxclearancecertificate420 1535
231Facelesscollectionandrecoveryoftax532 1538
232Recoverybysuitorunderotherlawnotaffected421 1540 234AInterestfordefaultsinfurnishingreturnofincome423 1541
234BInterestfordefaultsinpaymentofadvancetax424 1546
234CInterestfordefermentofadvancetax425 1550
234DInterestonexcessrefund426 1554
234EFeefordefaultinfurnishingstatements427 1555
234FFeefordefaultinfurnishingreturnofincome428 1556
234GFeefordefaultrelatingtostatementorcertificate429 1556
234HFeefordefaultrelatingtointimationofAadhaarnumber430 1557
234-IFeeforfurnishingrevisedreturnofincome428 1558
236Relieftocompanyinrespectofdividendpaidoutofpast taxedprofits
236ARelieftocertaincharitableinstitutionsorfundsinrespect ofcertaindividends
SECTIONS OF INCOME-TAX ACT, 1961 CORRESPONDING SECTIONS OF INCOME-TAX ACT, 2025
SECTIONHEADINGSECTION
237Refunds431 1558
238Personentitledtoclaimrefundincertainspecialcases432 1559
239Formofclaimforrefundandlimitation433 1559
239ARefundfordenyingliabilitytodeducttaxincertaincases434 1560
240Refundonappeal,etc.435 1561
241AWithholdingofrefundincertaincases— 242Correctnessofassessmentnottobequestioned436 1562
243Interestondelayedrefunds—
244Interestonrefundwherenoclaimisneeded— 244AInterestonrefunds437 1562
245Setoffandwithholdingofrefundsincertaincases438 1566
245ADefinitions—
245AAInterimBoardsforSettlement— 245BIncome-taxSettlementCommission—
245BAJurisdictionandpowersofSettlementCommission— 245BBVice-ChairmantoactasChairmanortodischargehis functionsincertaincircumstances
245BCPowerofChairmantotransfercasesfromoneBenchto another
245BDDecisiontobebymajority— 245CApplicationforsettlementofcases— 245DProcedureonreceiptofanapplicationundersection245C— 245DDPowerofSettlementCommissiontoorderprovisional attachmenttoprotectrevenue
245EPowerofSettlementCommissiontoreopencompleted proceedings
245FPowersandprocedureofSettlementCommission— 245GInspection,etc.,ofreports— 245HPowerofSettlementCommissiontograntimmunityfrom prosecutionandpenalty
245HAAbatementofproceedingbeforeSettlementCommission— 245HAACreditfortaxpaidincaseofabatementofproceedings— 245-IOrderofsettlementtobeconclusive— 245JRecoveryofsumsdueunderorderofsettlement— 245KBaronsubsequentapplicationforsettlement— 245LProceedingsbeforeSettlementCommissiontobejudicial proceedings
245MOptiontowithdrawpendingapplication— 245MADisputeResolutionCommittee379 1566 532
245NDefinitions380 1570
245-OAuthorityforadvancerulings— 245-OAQualifications,termsandconditionsofserviceofChairman, Vice-ChairmanandMember
245-OBBoardforAdvanceRulings381 1573
SECTIONS OF INCOME-TAX ACT, 1961
SECTIONS OF INCOME-TAX ACT, 2025
SECTIONHEADINGSECTION
245PVacancies,etc.,nottoinvalidateproceedings382 1573 245QApplicationforadvanceruling383 1574
245RProcedureonreceiptofapplication384 1575 532
245RRAppellateauthoritynottoproceedincertaincases385 1578 245SApplicabilityofadvanceruling— 245TAdvancerulingtobevoidincertaincircumstances386 1578
245UPowersoftheAuthority387 1579
245VProcedureofAuthority388 1580 245WAppeal389 1580 532
246AppealableordersbeforeJointCommissioner(Appeals)356 1582 246AAppealableordersbeforeCommissioner(Appeals)357 1584
248Appealbyapersondenyingliabilitytodeducttaxincertaincases
249Formofappealandlimitation358 1589 250Procedureinappeal359 1591 532
251PowersoftheJointCommissioner(Appeals)ortheCommissioner(Appeals) 360 1594
252AppellateTribunal361 1596
252AQualifications,termsandconditionsofserviceofPresident, Vice-PresidentandMember
253AppealstotheAppellateTribunal362 1598 532
254OrdersofAppellateTribunal363 1602
255ProcedureofAppellateTribunal364 1605 532
256StatementofcasetotheHighCourt— 257StatementofcasetoSupremeCourtincertaincases— 258PowerofHighCourtorSupremeCourttorequirestatementtobeamended
259CasebeforeHighCourttobeheardbynotlessthantwo judges
260DecisionofHighCourtorSupremeCourtonthecasestated— 260AAppealtoHighCourt365 1607
260BCasebeforeHighCourttobeheardbynotlessthantwo Judges 366 1609
261AppealtoSupremeCourt367 1609 262HearingbeforeSupremeCourt368 1610
263Revisionofordersprejudicialtorevenue377 1610
264Revisionofotherorders378 1614
264AFacelessrevisionoforders532 1616
264BFacelesseffectoforders532 1617
265Taxtobepaidnotwithstandingreference,etc.369 1618
SECTIONHEADINGSECTION
266ExecutionforcostsawardedbySupremeCourt370 1619
267Amendmentofassessmentonappeal371 1619
268Exclusionoftimetakenforcopy372 1620
268AFilingofappealorapplicationforreferencebyincome-tax authority 373 1620
269Definitionof“HighCourt”374 1621 269ADefinitions—
269ABRegistrationofcertaintransactions— 269BCompetentauthority— 269CImmovablepropertyinrespectofwhichproceedingsfor acquisitionmaybetaken
269DPreliminarynotice—
269EObjections— 269FHearingofobjections— 269GAppealagainstorderforacquisition— 269HAppealtoHighCourt— 269-IVestingofpropertyinCentralGovernment— 269JCompensation— 269KPaymentordepositofcompensation— 269LAssistancebyValuationOfficers— 269MPowersofcompetentauthority— 269NRectificationofmistakes— 269-OAppearancebyauthorisedrepresentativeorregistered valuer
269PStatementtobefurnishedinrespectoftransfersofimmovableproperty
269QChapternottoapplytotransferstorelatives— 269RPropertiesliableforacquisitionunderthischapternotto beacquiredunderotherlaws
269RRChapternottoapplywheretransferofimmovableproperty madeafteracertaindate
269SSModeoftakingoracceptingcertainloans,depositsand
269TModeofrepaymentofcertainloansordeposits188
269TTModeofrepaymentofSpecialBearerBonds,1991— 269UCommencementofChapter— 269UADefinitions—
SECTIONS OF INCOME-TAX ACT, 1961
CORRESPONDING SECTIONS OF INCOME-TAX ACT, 2025
SECTIONHEADINGSECTION
269UBAppropriateauthority—
269UCRestrictionsontransferofimmovableproperty—
269UDOrderbyappropriateauthorityforpurchasebyCentral Governmentofimmovableproperty
269UEVestingofpropertyinCentralGovernment—
269UFConsiderationforpurchaseofimmovablepropertyby CentralGovernment
269UGPaymentordepositofconsideration—
269UHRe-vestingofpropertyinthetransferoronfailureofpaymentordepositofconsideration
269UIPowersoftheappropriateauthority—
269UJRectificationofmistakes—
269UKRestrictionsonrevocationoralterationofcertainagreementsforthetransferofimmovablepropertyorontransfer ofcertainimmovableproperty
269ULRestrictionsonregistration,etc.,ofdocumentsinrespect oftransferofimmovableproperty
269UMImmunitytotransferoragainstclaimsoftransfereefor transfer
269UNOrderofappropriateauthoritytobefinalandconclusive—
269UOChapternottoapplytocertaintransfers—
269UPChapternottoapplywheretransferofimmovableproperty effectedaftercertaindate
270APenaltyforunder-reportingandmisreportingofincome439 1630
270AAImmunityfromimpositionofpenalty,etc.440 1637
271Failuretofurnishreturns,complywithnotices,concealment ofincome,etc.
271AFailuretokeep,maintainorretainbooksofaccount, documents,etc.
271AAPenaltyforfailuretokeepandmaintaininformationand document,etc.,inrespectofcertaintransactions
271AAAPenaltywheresearchhasbeeninitiated—
271AABPenaltywheresearchhasbeeninitiated—
271AACPenaltyinrespectofcertainincome—
271AADPenaltyforfalseentry,etc.,inbooksofaccount444 1640
271AAEBenefitstorelatedpersons445 1641
271BFailuretogetaccountsaudited428 1642
271BAPenaltyforfailuretofurnishreportundersection92E428 1643
271BBFailuretosubscribetotheeligibleissueofcapital—
271CPenaltyforfailuretodeducttaxatsource448 1643
271CAPenaltyforfailuretocollecttaxatsource449 1644
271DPenaltyforfailuretocomplywiththeprovisionsofsection 269SS 450 1645
271DAPenaltyforfailuretocomplywithprovisionsofsection 269ST 451 1645
271DBPenaltyforfailuretocomplywithprovisionsofsection
1646
271EPenaltyforfailuretocomplywiththeprovisionsofsection 269T
271FPenaltyforfailuretofurnishreturnofincome— 271FAPenaltyforfailuretofurnishstatementoffinancialtransactionorreportableaccount
transactionorreportableaccount
documentbyaneligibleinvestmentfund
undersection92D
271GAPenaltyforfailuretofurnishinformationordocument undersection285A
accuratereportundersection286
272APenaltyforfailuretoanswerquestions,signstatements, furnishinformation,returnsorstatements,allowinspections,etc.
272BBBPenaltyforfailuretocomplywiththeprovisionsofsection 206CA
273Falseestimateof,orfailuretopay,advancetax—
273APowertoreduceorwaivepenalty,etc.,incertaincases469 1663
273AAPowerofPrincipalCommissionerorCommissionerto grantimmunityfrompenalty
273BPenaltynottobeimposedincertaincases470
275Baroflimitationforimposingpenalties472 1669
275AContraventionofordermadeduringsearchaction473 1671
275BFailuretoaffordfacilityforinspectionofbooksofaccount duringsearch
276Removal,concealment,transferordeliveryofpropertyto thwarttaxrecovery
SECTIONS OF INCOME-TAX ACT, 1961
SECTIONS OF INCOME-TAX ACT, 2025
SECTIONHEADINGSECTION
276AFailuretocomplywiththeprovisionsofsub-sections(1) and(3)ofsection178
276ABFailuretocomplywiththeprovisionsofsections269UC, 269UEand269UL
276BFailuretopaytaxtocreditofCentralGovernmentunder ChapterXII-DorXVII-B
276BBFailuretopaytaxcollectedatsource477 1674
276CWilfulattempttoevadetax,etc.478 1675
276CCFailuretofurnishreturnsofincome479 1677
276CCCFailuretofurnishreturnofincomeinsearchcases480 1678
276DFailuretocomplywithadirectionofspecialauditor valuation 481 1679
277Falsestatementinverification,etc.482 1679
277AFalsificationofbooksofaccountordocument,etc.483 1680
278Abetmentoffalsereturn,etc.484 1681
278APunishmentforsecondandsubsequentoffences485 1681
278AAPunishmentnottobeimposedincertaincases486 1682
278ABPowerofPrincipalCommissionerorCommissionerto grantimmunityfromprosecution
278EPresumptionastoculpablementalstate490 1686 279ProsecutiontobeatinstanceofPrincipalChiefCommissionerorChiefCommissionerorPrincipalCommissioner orCommissioner
ceedingsbeforeSpecialCourt
isdissolved
285BSubmissionofstatementsbyproducersofcinematograph filmsorpersonsengagedinspecifiedactivity
285BAObligationtofurnishstatementoffinancialtransaction orreportableaccount
285BAAObligationtofurnishinformationontransactionofcrypto-asset
285BBAnnualinformationstatement510 1708
286Furnishingofreportinrespectofinternationalgroup511 1709
287Publicationofinformationrespectingassesseesincertain cases 512 1716
287AAppearancebyregisteredvaluerincertainmatters513 1717 514
288Appearancebyauthorisedrepresentative515 1718
288ARoundingoffofincome516 1724
288BRoundingoffamountpayableandrefunddue516 1724
289Receipttobegiven517 1725
290Indemnity518 1725
291Powertotenderimmunityfromprosecution519 1726
292Cognizanceofoffences520 1727
292ASection360oftheCodeofCriminalProcedure,1973,and theProbationofOffendersAct,1958,nottoapply
292BReturnofincome,etc.,nottobeinvalidoncertaingrounds522 1728
292BAAssessmentsnottobeinvalidoncertaingrounds522 1729
292BBNoticedeemedtobevalidincertaincircumstances523 1729
292BCCircumstancesinwhichapprovalsbyincome-taxauthority nottobeinvalid
292CPresumptionastoassets,booksofaccount,etc.524 1731
292CCAuthorisationandassessmentincaseofsearchorrequisition 525 1732
293Barofsuitsincivilcourts526 1733
293APowertomakeexemption,etc.,inrelationtoparticipationinthebusinessofprospectingfor,extraction,etc.,of mineraloils
293BPowerofCentralGovernmentorBoardtocondonedelays inobtainingapproval
293CPowertowithdrawapproval529 1736
293DFacelessapprovalorregistration532 1736
294Acttohaveeffectpendinglegislativeprovisionforcharge oftax 530 1737
294APowertomakeexemption,etc.,inrelationtocertainUnion territories 531 1738
295Powertomakerules533 1738
296RulesandcertainnotificationstobeplacedbeforeParliament
297Repealsandsavings536 1743
298Powertoremovedifficulties535 1747
FirstScheduleInsurancebusinessSch.XIV 1748
SecondScheduleProcedureforrecoveryoftax—
SECTIONS OF INCOME-TAX ACT, 1961
CORRESPONDING SECTIONS OF INCOME-TAX ACT, 2025
SECTIONHEADINGSECTION
ThirdScheduleProcedurefordistraintbyAssessingOfficerortaxrecovery officer
FourthSchedulePartA-RecognisedprovidentfundsSch.XIPartA 1751 Sch.XIPartC
PartB-ApprovedsuperannuationfundsSch.XIPartB Sch.XIPartC
PartC-ApprovedgratuityfundsSch.XIPartB Sch.XIPartC
FifthScheduleListofarticlesandthings— SixthSchedule——
Seventh Schedule PartA-MineralsSch.XIIPartA 1773
PartB-GroupsofassociatedmineralsSch.XIIPartB
EighthScheduleListofindustriallybackwardStatesandUnionTerritories— NinthSchedule——
TenthSchedule——
Eleventh Schedule ListofarticlesorthingsSch.XIII 1776
TwelfthScheduleProcessedmineralsandores— Thirteenth Schedule Listofarticlesorthings—
PartA:FortheStateofSikkim—
PartB:FortheStateofHimachalPradeshandtheState ofUttaranchal
PartC:FortheStateofJammuandKashmir— Fourteenth Schedule Listofarticlesorthingsoroperations—
Provisions of the Income-tax Act, 2025 in respect of which there are no corresponding provisions in the Income-tax Act, 1961 1778
Section28ofthe1961Act:Profitsandgainsofbusinessorprofession/Section26ofthe2025 Act:Incomeunderhead“Profitsandgainsofbusinessorprofession”/Section66ofthe2025 Act:Interpretation
CORRESPONDING PROVISION
u Section28ofthe1961Actcorrespondstosection26andsection66ofthe2025Actasunder:— 1961Act2025Act
Section28Section26(1)&(2)
Section28(i)Section26(2)(a)
Section28(ii)(a)Section26(2)(b)(i)(A)&longline
Section28(ii)(b)Section26(2)(b)(i)(B)&longline
Section28(ii)(c)Section26(2)(b)(ii)&longline
Section28(ii)(d)Section26(2)(c)
Section28(ii)(e)Section26(2)(b)(iii)&longline
Section28(iii)Section26(2)(d)
Section28(iiia)Section26(2)(e)
Section28(iiib)Section26(2)(e)
Section28(iiic)Section26(2)(e)
Section28(iiid)Section26(2)(e)
Section28(iiie)Section26(2)(e)
Section28(iv)Section26(2)(f)
Section28(v)&itsprovisoSection26(2)(g)
Section28(va)Section26(2)(h)
ProvisotoSection28(va)Section26(2)(h)(i)(A)&(B)
Explanation (i) toSection28(va)Section66(1)
Explanation (ii) toSection28(va)Section66(29)
Section28(vi)Section26(2)(i)
Explanation toSection28(vi)Section66(8)
Section28(via)Section26(2)(j)
Section28(vii)Section26(2)(k)
Explanation 2 toSection28Section26(3)
Explanation 3 toSection28Section26(4)
TEXTUAL COMPARISON
Section28ofthe1961Act:Profitsandgainsof businessorprofession
The following income shallbechargeabletoincome-taxunderthehead“Profitsandgainsofbusiness orprofession”,—
Section26ofthe2025Act:Incomeunderhead “Profitsandgainsofbusinessorprofession”/ Section66ofthe2025Act:Interpretation
S.26(1) The incomes referred to in subsection (2) shallbechargeabletoincome-taxunderthehead“Profitsand gainsofbusinessorprofession”.
S.26(2) The income under sub-section (1) shall include—
Section28ofthe1961Act:Profitsandgainsof businessorprofession
(i)theprofitsandgainsofanybusinessorprofession which was carriedonbytheassesseeat anytimeduringthe previous year ;
(ii)anycompensationorotherpaymentduetoor receivedby,—
(a)anyperson,bywhatevernamecalled, managing the whole or substantially the whole of the affairs ofanIndiancompany, at or inconnectionwith the terminationof his managementor the modificationof the termsandconditionsrelatingthereto;
Section26ofthe2025Act:Incomeunderhead “Profitsandgainsofbusinessorprofession”/ Section66ofthe2025Act:Interpretation
S. 26(2)(a) theprofitsandgainsofanybusinessor professioncarriedonbytheassesseeat anytimeduringthe tax year;
S. 26(2) (b)(i)(A) & long line (b)anycompensationorotherpayment, dueto,orreceived,byanypersonby whatevernamecalled,—
(i) wholly or substantially managing the affairs
(A)ofanIndiancompany; or inconnectionwithterminationofmanagement, office, agency or contract, as the case may be, ormodificationof termsandconditionsrelatingthereto;
(b)anyperson,bywhatevernamecalled, managing the whole or substantially the whole of the affairs inIndiaofanyothercompany, at or inconnectionwith the terminationof his officeor the modificationof the terms andconditionsrelatingthereto;
S. 26(2)(b) ( i )( B ) & long line
(b) any compensation or other payment, due to, or received, by anyperson bywhatevernamecalled,—
(i) wholly or substantially managing the affairs
(B)inIndia,ofanyothercompany; or
inconnectionwithterminationof management, office, agency or contract, as the case may be, ormodificationof termsandconditionsrelatingthereto;
(c)anyperson,bywhatevernamecalled, holding an agency inIndiaforanypart of the activities relating to the business ofanyotherperson, at or inconnection with the terminationof the agencyor the modificationof the termsandconditions relatingthereto;
S. 26(2)(b) (ii) & long line
(b) any compensation or other payment, due to, or received, by anyperson bywhatevernamecalled,—
(ii) holding any agency inIndiafor anypartof business activities of anyotherperson; or inconnectionwithterminationof management, office, agency or contract, as the case may be, ormodificationof termsandconditionsrelatingthereto;
(d)anyperson,for or in connection with the vestingintheGovernment, or in any corporationownedorcontrolledbythe Government,underanylaw for the time being inforce,ofthemanagementofany propertyorbusiness;
(e)anyperson,bywhatevernamecalled, at or inconnectionwith the terminationor the modificationof the termsandconditions, of any contract relating to his business;
S. 26(2)(c) any compensation or payment, due to, or received by, anypersonforvesting ofthemanagementofanypropertyor business,intheGovernment including anycorporationownedorcontrolledby theGovernmentunderanylawinforce;
S. 26(2) (b)(iii) & long line
(b) any compensation or other payment, due to, or received, by anyperson bywhatevernamecalled,—
(iii) for any contract relating to business,
inconnectionwithterminationof management, office, agency or contract, as the case may be, ormodificationof termsandconditions relating thereto;
Section28ofthe1961Act:Profitsandgainsof businessorprofession
(iii)incomederivedbyatrade,professionalorsimilar associationfromspecificservicesperformedfor itsmembers;
(iiia) profits on sale of a licence granted under the Imports (Control) Order, 1955, made under the Imports and Exports (Control) Act, 1947 (18 of 1947);
Section26ofthe2025Act:Incomeunderhead “Profitsandgainsofbusinessorprofession”/ Section66ofthe2025Act:Interpretation
S. 26(2)(d) incomederivedbyatrade,professionalor similarassociationfromspecificservices performedforitsmembers;
S. 26(2)(e) profits on sale of import licence, cash assistance against export, duty drawback or duty remission or any other export incentive, received or receivable (; iiib) cash assistance (by whatever name called) received or receivable by any person against exports under any scheme of the Government of India;
(iiic) any duty of customs or excise re-paid or re-payable as drawback to any person against exports under the Customs and Central Excise Duties Drawback Rules, 1971;
(iiid) any profit on the transfer of the Duty Entitlement Pass Book Scheme, being the Duty Remission Scheme under the export and import policy formulated and announced under section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (22 of 1992);
(iiie) any profit on the transfer of the Duty Free Replenishment Certificate, being the Duty Remission Scheme under the export and import policy formulated and announced under section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (22 of 1992);
(iv)thevalueofanybenefitorperquisitearising frombusinessortheexerciseofaprofession, whether––
(a)convertibleintomoneyornot;or
(b)incashorinkindorpartlyincashandpartly inkind;
(v)anyinterest,salary,bonus,commissionorremuneration,by whatevernamecalled,dueto, orreceivedby,apartnerofafirmfromsuch firm :
Provided that where any interest, salary, bonus, commission or remuneration, by whatever name called, or any part thereof has not been allowed to be deducted under clause (b) of section 40, the income under this clause shall be adjusted to the extent of the amount not so allowed to be deducted;
S. 26(2)(f) thevalueofanybenefitorperquisite arisingfrombusinessortheexerciseof aprofession,whether—
(i)convertibleintomoneyornot;or (ii)incashorinkindorpartlyincash andpartlyinkind;
S. 26(2)(g) anyinterest,salary,bonus,commission orremuneration,bywhatevername called, which is dueto,orreceivedby,a partnerofafirmfromsuchfirm to the extent allowed under section 35(e) as a deduction in computing the income of the firm;
Section28ofthe1961Act:Profitsandgainsof businessorprofession
(va)anysum, whether receivedorreceivable, in cash or kind,underanagreementfor—
(a)notcarryingoutanyactivityinrelationto anybusinessorprofession;or
(
b)notsharinganyknow-how,patent,copyright, trade-mark,licence,franchiseoranyother businessorcommercialrightofsimilar natureorinformationortechniquelikely toassistinthemanufactureorprocessing ofgoodsorprovisionforservices:
Section26ofthe2025Act:Incomeunderhead “Profitsandgainsofbusinessorprofession”/ Section66ofthe2025Act:Interpretation
S. 26(2)(h) anysum,receivedorreceivable, in cash or in kind––
(i)underanagreementfornotcarryingoutanyactivityinrelation toanybusinessorprofession, not being–
(A) any sum received on account of transfer of the right to manufacture, produce or process any article or thing or right to carry on any business or profession which is chargeable under the head “Capital gains”;
(B) any sum received as compensation from the multilateral fund of the Montreal Protocol on Substances that Deplete the Ozone layer under the United Nations Environment Programme, as per the terms of agreement entered into with the Government of India; or (ii)underanagreementfornot sharinganyknow-how,patent, copyright,trade-mark,licence, franchiseoranyotherbusinessor commercialrightofsimilarnature, orinformationortechniquelikely toassistinthemanufactureor processingofgoodsorprovision forservices;
Provided that sub-clause (a) shall not apply to
(i) any sum, whether received or receivable, in cash or kind, onaccountoftransferof therighttomanufacture,produceorprocess anyarticleorthingorrighttocarryonany businessorprofession,whichischargeable underthehead“Capitalgains”;
(ii)anysumreceivedascompensation,fromthe multilateralfundoftheMontrealProtocol onSubstancesthatDepletetheOzonelayer undertheUnitedNationsEnvironment Programme,inaccordancewiththeterms ofagreemententeredintowiththeGovernmentofIndia.
S. 26(2) (h)(i)(A) & (B)
(A) any sum received onaccountof transferoftherighttomanufacture,produceorprocessanyarticle orthingorrighttocarryonany businessorprofessionwhichis chargeableunderthehead“Capital gains”;
(B)anysumreceivedascompensation fromthemultilateralfundofthe MontrealProtocolonSubstances thatDepletetheOzonelayerunder theUnitedNationsEnvironment Programme,asperthetermsof agreemententeredintowiththe GovernmentofIndia; or
Section28ofthe1961Act:Profitsandgainsof businessorprofession
Explanation : Forthepurposesof this clause,—
(i) “agreement”includesanyarrangementor understandingoractioninconcert,—
(A)whetherornotsucharrangement, understandingoractionisformalor inwriting;or
(B)whetherornotsucharrangement, understandingoractionisintendedto beenforceablebylegalproceedings;
(ii)“service”means service ofanydescription whichismadeavailabletopotentialusers andincludestheprovisionofservicesin connectionwithbusinessofanyindustrial orcommercialnaturesuchasaccounting, banking,communication,conveyingofnews orinformation,advertising,entertainment, amusement,education,financing,insurance,chitfunds,realestate,construction, transport,storage,processing,supplyof electricalorotherenergy,boardingand lodging;
Section26ofthe2025Act:Incomeunderhead “Profitsandgainsofbusinessorprofession”/ Section66ofthe2025Act:Interpretation
S. 66(1) “agreement”,forthepurposesof section 26(2)(h),includesanyarrangementor understandingoractioninconcert,—
(A)whetherornotsucharrangement, understandingoractionisformal orinwriting;or
(B)whetherornotsucharrangement,understandingoractionis intendedtobeenforceablebylegal proceedings;
S. 66(29) “service”, for the purposes of section 26(2)(h),means a service ofanydescriptionwhichismadeavailabletopotential usersandincludestheprovisionofservicesinconnectionwithbusinessofany industrialorcommercialnaturesuchas––
(a)accounting;
(b)banking;
(c)communication;
(d)conveyingofnewsorinformation;
(e)advertising;
(f)entertainment;
(g)amusement;
(h)education;
(i)financing;
(j)insurance;
(k)chitfunds;
(l)realestate;
(m)construction;
(n)transport;
(o)storage;
(p)processing;
(q)supplyofelectricalorother energy; and
(r)boardingandlodging;
(vi)anysumreceivedunderaKeymaninsurance policyincludingthesumallocatedbywayof bonusonsuchpolicy.
S. 26(2)(i) anysumreceivedunderaKeymaninsurancepolicyincludingthesumallocated bywayofbonusonsuchpolicy;
Section28ofthe1961Act:Profitsandgainsof businessorprofession
Explanation : For the purposes of this clause, the expression “Keymaninsurancepolicy”shall havethemeaningassignedtoitin clause (10D) of section 10;
(via)thefairmarketvalueofinventoryasonthedate onwhichitisconvertedinto,ortreatedas,a capitalasset determined in the prescribed manner;
(vii)anysum, whether receivedorreceivable,in cashorkind, on account of any capital asset (otherthanlandorgoodwillorfinancialinstrument) being demolished,destroyed,discarded ortransferred, if thewholeoftheexpenditure on such capital asset hasbeenallowedasa deductionunder section 35AD.
Section26ofthe2025Act:Incomeunderhead “Profitsandgainsofbusinessorprofession”/ Section66ofthe2025Act:Interpretation
S. 66(8) “Keymaninsurancepolicy”shallhave themeaningassignedtoitin Schedule II (Note 1);
S. 26(2)(j) thefairmarketvalueofinventoryason thedateonwhichitisconvertedinto,or treatedas,acapitalasset determined in the manner, as may be prescribed; and
S. 26(2)(k) anysum which is receivedorreceivable incashorkind, when––
(i) a capital asset otherthanlandor goodwillorfinancialinstrument, is demolished,destroyed,discarded ortransferred; and
(ii)thewholeoftheexpenditureon it hasbeenallowedasadeduction under section 35AD of the Income-tax Act, 1961 (43 of 1961) or section 46 of this Act.
Explanation 2 : Wherespeculativetransactionscarried onbyanassesseeareof such a nature as to constitute abusiness,thebusiness(hereinafter referredtoas “speculationbusiness”)shallbedeemedtobedistinct andseparatefromanyotherbusiness.
Explanation 3 : It is hereby clarified that anyincome fromlettingoutofaresidentialhouseor a part of the house bytheownershallnotbe chargeable under the head “Profits and gains of business or profession” andshallbechargeableunderthehead“Incomefrom houseproperty”.
S. 26(3)
S. 26(4)
Wherespeculativetransactionscarried onbyanassesseeareof such nature to constitute abusiness,thebusiness (herein referredtoasspeculationbusiness)shallbedeemedtobedistinctand separatefromanyotherbusiness.
Anyincomefromlettingoutofaresidentialhouseor a part of it bytheowner shallnotbe included in income under sub-section (1) andshallbechargeable only underthehead“Incomefromhouse property”.
Section29ofthe1961Act:Incomefromprofitsandgainsofbusinessorprofession,how computed/Section27ofthe2025Act:Mannerofcomputingprofitsandgainsofbusinessor profession
CORRESPONDING PROVISION
u Section29ofthe1961Actcorrespondstosection27ofthe2025Actasunder:—
1961Act2025Act
Section29Section27
TEXTUAL COMPARISON
Section29ofthe1961Act:Incomefrom profitsandgainsofbusinessorprofession, howcomputed
Theincomereferredtoin section 28 shallbecomputed in accordance with theprovisions contained in sections 30 to 43D
Section27ofthe2025Act:Mannerofcomputing profitsandgainsofbusinessorprofession
S. 27
Theincomereferredtoin section 26 shallbecomputed as per theprovisions of sections 28 to 60, except section 58
Section30ofthe1961Act:Rent,rates,taxes,repairsandinsuranceforbuildings/Section28of the2025Act:Rent,rates,taxes,repairsandinsurance
CORRESPONDING PROVISION
u Section30ofthe1961Actcorrespondstosection28ofthe2025Actasunder:—
Section30Section28(1)
Section30(a)Section28(1)(c)
Section30(a)(i)Section28(1)(e)
Section30(a)(ii)Section28(1)(d)
Section30(b)Section28(1)(b)
Section30(c)Section28(1)(a)
Explanation toSection30Section28(1)(d)&(e)
TEXTUAL COMPARISON
Section30ofthe1961Act:Rent,rates,taxes, repairsandinsuranceforbuildings
In respect of rent, rates, taxes, repairs and insurance for premises,usedforthepurposesofthe businessorprofession, the following deductions shall be allowed
(a) where the premises are occupied by the assessee
Section28ofthe2025Act:Rent,rates,taxes, repairsandinsurance
S. 28(1) The following amounts shall be allowed as deduction in respect of premises, machinery, plant or furniture usedforthepurposesofthebusiness orprofession:––
S. 28(1)(c) rent paid, when the premises are occupied by the assessee as a tenant; (i) as a tenant, the rent paid for such premises ; and further if he has undertaken to bear the cost of repairs to the premises, the amount paid on account of such repairs ;
S. 28(1)(e) amount paid on account of cost of repairs, not being in the nature of capital expenditure, when the premises are occupied by the assessee as a tenant and where he has undertaken to bear the cost of repairs to the premises; and (ii)otherwisethanasatenant, the amount paid by him onaccountofcurrentrepairs tothepremises;
S. 28(1)(d) amountpaidonaccountofcurrentrepairstothepremises, not being in the nature of capital expenditure, when the premises are occupied by the assessee otherwisethanasatenant;
Section30ofthe1961Act:Rent,rates,taxes, repairsandinsuranceforbuildings
(b) any sums paid on account of landrevenue, localratesormunicipaltaxes;
(c) the amount of anypremiumpaidinrespectof insuranceagainstriskofdamageordestruction of the premises.
Explanation : For the removal of doubts, it is hereby declared that the amountpaidonaccountof the costofrepairs referred to in sub-clause (i),and the amountpaidonaccountofcurrentrepairs referred to in sub-clause (ii), of clause (a), shall not include any expenditure in the nature of capital expenditure
Section28ofthe2025Act:Rent,rates,taxes, repairsandinsurance
S. 28(1)(b) landrevenue,localratesormunicipal taxes paid;
S. 28(1)(a) anypremiumpaidinrespectofinsurance againstriskofdamageordestruction thereof;
S. 28(1)(e) amountpaidonaccountofcostofrepairs, not being in the nature of capital expenditure, when the premises are occupied by the assessee as a tenant and where he has undertaken to bear the cost of repairs to the premises; and
S. 28(1)(d) amountpaidonaccountofcurrent repairs to the premises, not being in the nature of capital expenditure, when the premises are occupied by the assessee otherwise than as a tenant;
Section31ofthe1961Act:Repairsandinsuranceofmachinery,plantandfurniture/Section 28ofthe2025Act:Rent,rates,taxes,repairsandinsurance
CORRESPONDING PROVISION
u Section31ofthe1961Actcorrespondstosection28ofthe2025Actasunder:— 1961Act2025Act
Section31Section28(1)
Section31(i)Section28(1)(f)
Section31(ii)Section28(1)(a)
Explanation toSection31Section28(1)(f)
TEXTUAL COMPARISON
Section31ofthe1961Act:Repairsandinsuranceofmachinery,plantandfurniture
In respect of repairs and insurance of machinery, plant or furniture usedforthepurposesofthebusinessorprofession, the following deductions shall be allowed
(i)theamountpaidonaccountofcurrentrepairs thereto ;
(ii) the amount of anypremiumpaidinrespectof insuranceagainstriskofdamageordestruction thereof.
Section28ofthe2025Act:Rent,rates,taxes, repairsandinsurance
S. 28(1) The following amounts shall be allowed as deduction in respect of premises, machinery, plant or furniture usedforthepurposesofthebusiness orprofession:—
S. 28(1)(f) theamountpaidonaccountofcurrent repairs to machinery, plant or furniture, not being in the nature of capital expenditure
S. 28(1)(a) anypremiumpaidinrespectofinsurance againstriskofdamageordestruction thereof;
COMPARATIVE STUDY OF PROVISIONS OF INCOME
TAX ACT 2025 & INCOME TAX ACT 1961
AUTHOR : Taxmann's Editorial Board
PUBLISHER : Taxmann Publications
DATE OF PUBLICATION : April 2026
EDITION : 2nd Edition | 2026
ISBN NO : 9789375610823
NO. OF PAGES : 1832
BINDING TYPE : Paperback
3,595
DESCRIPTION
Comparative Study of Provisions of Income-Tax Act 2025 & Income-Tax Act 1961 is a 1800+ page reference that places the complete operative text of both statutes in direct two-column alignment—section by section, sub-section by sub-section, clause by clause, proviso by proviso, and Explanation by Explanation—with typographically coded change mark-up that makes every deletion, modification, and new insertion instantly visible. It is the single most comprehensive primary-text comparative reference available for the 1961 2025 transition.
A companion volume, the Comparative Study of Income-Tax Rules 2026 & Income-Tax Rules 1962, extends this framework to the subordinate legislation—together, the two volumes cover the complete regulatory framework governing Indian direct taxation across both regimes. This book is intended for the following audience:
• Tax Professionals, Chartered Accountants & Senior Departmental Officers
• Newer Professionals, CA/Law Students & Compliance Teams
• Litigators and Appellate Practitioners
• Researchers & Policy Analysts
The Present Publication is the 2nd Edition | 2026, amended by Finance Act 2026. This book is edited/authored by Taxmann's Editorial Board, with the following noteworthy features:
• [Word-to-Word Textual Comparison in a Dual-Column Format] The operative provisions of the 1961 Act are placed on the left; the corresponding provisions of the 2025 Act on the right—not summarised, paraphrased, or abridged. Both statutes speak in their own words, placed in direct confrontation with each other
• [Granular Alignment to the Smallest Operative Unit] Every sub-section, clause, sub-clause, item, sub-item, proviso, and Explanation is aligned against its precise counterpart. Where sub-clauses have been reordered in the 2025 Act, the alignment reflects actual structural correspondence rather than positional sequence—a distinction that matters critically where internal clause order has been reversed or reorganised
• [Typographically Coded Change Identification] Two distinct visual signals operate throughout—1961 Act text in bold with strikethrough indicates deletions or modifications; 2025 Act text in bold indicates simplifications, changes, or new insertions
• [Comprehensive Cross-Mapping Table of Contents] A front-loaded bilateral index maps every 1961 Act section to its 2025 Act counterpart(s) with page references for both—enabling navigation from either statute's reference frame, instantly
• [Standalone Compilation of 2025 Act Provisions Without 1961 Counterparts] Provisions unique to the 2025 Act—definitional expansions, new structural mechanisms, and provisions specific to the consolidated design of the new statute—are compiled separately at the end, ensuring the comparative coverage is total
• [Finance Act, 2026 Incorporated in Both Statutes] Both Acts are reproduced as amended by the Finance Act, 2026, making this the most current edition available, reflecting the law as it stands for Tax Year 2025-26 onwards
• [An Unmatched Editorial Standard] The 2025 Act's 530+ sections do not map to the 1961 Act's 298 sections in any predictable sequence—one section may fan out across multiple sections and Schedules, while several may collapse into one. Sub-clauses have been reordered, operative provisos quietly dropped, and narrative text restructured into tables. Every entry reflects editorial judgment applied at the level of individual legislative sub-elements—none of it algorithmic, and none of it replicable without Taxmann's institutional depth