Income-Tax Act 2025 – Pocket Edition is a definitive compact statutory reference for the Income-tax Act 2025 (ITA 2025), incorporating all amendments brought in by the Finance Act 2026. Now in its 33rd Edition | 2026, this title continues a decades-long publishing legacy of delivering the complete statutory text of India's principal direct tax legislation in a format designed for everyday professional use. The publication presents the annotated text of the ITA 2025 alongside the full text of the Finance Act 2026, giving readers a single, self-contained statutory compendium that is both authoritative in coverage and practical in portability.
The defining editorial contribution of this Edition is its annotation architecture. Beneath each section, the reader finds cross-references to the applicable Income-tax Rules 2026, including prescribed forms, relevant CBDT Circulars and Notifications, judicially noticed words and phrases, and allied statutory provisions, all marshalled in a structured, footnote-driven format. To ease the transition from the repealed Income-tax Act 1961 to the newly codified ITA 2025, corresponding provisions of the 1961 Act are cited at every point, making this Edition indispensable during the transitional period when both regimes continue to carry interpretive and precedential relevance.
Who Should Use This Book?
- Chartered Accountants and Tax Practitioners: Requiring an annotated, always-current version of the Act for filing, advisory, and compliance work.
- Corporate Tax and Finance Teams: Needing a reliable desk reference during assessment, audit, and advance ruling proceedings.
- Advocates and Tax Counsels: Appearing before Income Tax Authorities, CIT(A), DRP, ITAT, and High Courts.
- Law Students and CA/CS/CMA Candidates: Requiring an authoritative statutory text for examinations and academic study.
- Government Officers and Tax Administrators (IRS/IRAS): Working within the new statutory framework.
- Legal Researchers and Academicians: Conducting comparative or doctrinal work across the 1961 and 2025 regimes.
- Pocket Format: Suitable for courtroom and chamber reference, client meetings, and field work where a full-form volume would be impractical.
Present Publication: 33rd Edition | 2026, amended by the Finance Act 2026
Editor: Taxmann's Editorial Board
Key Features
- Complete Annotated Statutory Text: The full text of the Income-tax Act 2025, as amended by the Finance Act 2026, with no sections abridged or omitted. Every amendment enacted by the Finance Act 2026 is incorporated directly into the text of the section, with a clear footnote indicating the substitution, insertion, or omission and its effective date.
- Four-Tier Annotation System: Below each section, annotations systematically cross-reference:
- Prescribed Rules and Forms under the Income-tax Rules 2026.
- Relevant CBDT Circulars and Notifications.
- Judicially interpreted words and phrases.
- Allied statutory provisions referred to within the section.
This makes the Act not merely a bare text but a structured research anchor.
- Corresponding 1961 Act Provisions at Every Point: The corresponding section number(s) of the Income-tax Act 1961 are placed in square brackets immediately alongside each section heading, eliminating the need for a separate concordance.
- Text of Finance Act 2026 in Full: Division Two reproduces the complete Finance Act 2026, including the First Schedule containing the rate structure for all taxpayer categories, along with surcharge and Health and Education Cess provisions applicable for Tax Year 2026–27.
- Appendix — Allied Acts, Circulars, and Regulations: The Appendix lists all allied enactments and regulatory instruments cross-referenced within the ITA 2025 and reproduces the precise provisions referenced, making the volume self-sufficient for most statutory look-ups.
- Detailed Subject Index: A granular subject index spanning the entire Volume 1 content, including the ITA 2025 and Appendix, enables rapid location of specific topics, provisions, and concepts.
- Pocket Format Without Compromise on Coverage: Despite its compact dimensions, the Edition makes no sacrifice in statutory completeness. All 500+ sections of the ITA 2025, spanning 16 chapters, are reproduced in full with their sub-sections, provisos, explanations, and schedules intact.
Book Structure
- Division One — Income-tax Act 2025: Covers the complete annotated text of the ITA 2025 across all 16 Chapters, including Preliminary and Definitions; Basis of Charge and Residence; Exempt Incomes; Computation of Total Income across all five heads—Salaries, House Property, Business or Profession, Capital Gains, and Other Sources; special regimes for Venture Capital Undertakings, Business Trusts, Investment Funds, and the Tonnage Tax Scheme for shipping companies; Tax Administration including authorities, jurisdiction, search and seizure, survey, and Faceless proceedings; Return of Income including PAN, filing, self-assessment, and updated return; and Assessment Procedure including regular assessment, best judgment assessment, Faceless Assessment, DRP, and escaped income.
- The Division also includes an Arrangement of Sections, an Appendix reproducing allied statutory provisions and CBDT instruments referenced in the Act, and a Subject Index.
- Division Two — Finance Act 2026: Contains the complete text of the Finance Act 2026, covering income-tax rates for Tax Year 2026–27 across all taxpayer categories, including individuals, HUFs, firms, co-operative societies, domestic companies, and foreign companies under both the ITA 2025 and ITA 1961, along with applicable surcharge slabs and Health and Education Cess at 4%.
Editorial Architecture
- Layer 1 | Statutory Text: Each section reproduces the verbatim legislative text of the ITA 2025 as amended, with all sub-sections, clauses, provisos, and explanations. Amendments made by the Finance Act 2026 are incorporated directly into the text and identified in footnotes with the phrase "Substituted/Inserted/Omitted by the Finance Act, 2026, w.e.f. [date]".
- Layer 2 | Section-Level Annotations (Footnotes): Below each section, or within the text at superscripted reference points, annotations provide:
- Rule and Form references under the Income-tax Rules 2026.
- Circular references.
- Words and phrases judicially interpreted.
- Cross-references to the corresponding section of the Income-tax Act 1961, shown in square brackets in section headings.
- Layer 3 | Appendix and Index: The Appendix provides a consolidated list of all allied statutes and regulatory instruments cited anywhere in the ITA 2025, along with the verbatim text of the cited provisions. The Subject Index provides a topical gateway into the volume.
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