Income Tax Bill 2025

Income Tax Bill 2025 by Taxmann is a comprehensive resource that facilitates a smooth transition from the Income-tax Act, 1961 (ITA) to the new Income-tax Bill, 2025 (ITB). It offers side-by-side comparative tables, in-depth analysis, and an indexed copy of the proposed legislation. This Edition highlights the ITB's transformative changes, ensuring readers can confidently navigate the new framework.

This book is intended for the following audience:

• Tax Professionals & Advisors – Chartered Accountants, tax consultants, and legal practitioners
• Businesses & Corporate Entities – Domestic companies, multinational enterprises, cooperatives, start-ups, and other commercial ventures
• Individuals – Taxpayers looking to understand the revised rules affecting personal taxation
• Government & Judicial Authorities – Revenue officials, Tribunal members, and judges
• Academics & Researchers – Students, faculty, and think tanks examining tax law and policy

The Present Publication is the 2025 Edition, covering the text of the Income-tax Bill [Bill No. 24 of 2025], with the following noteworthy features:

• Comprehensive Comparative Study
  • Side-by-side tables correlating each section of the ITA with the corresponding clause of the ITB
  • Clear identification of repealed, merged, or newly introduced provisions to facilitate a smooth transition
• Repealed Provisions – A dedicated table listing all provisions of the ITA that have been omitted in the ITB
• Complete Text of the Income-tax Bill 2025 – Fully indexed ITB text, arranged systematically for quick reference, including:
  • Corrigenda to the Income-tax Bill 2025
  • General FAQs on the Broad Scope of the Income-tax Bill 2025
  • Income-tax Bill 2025 Navigator (Section Mapping)
• User-friendly Structure & Navigation – An extensive index and cross-referencing system enable precise location of topics and deeper insight into interrelated clauses

The structure of the book is as follows:

• Comparative Study – Detailed analysis of key differences between the ITA and ITB, including a thorough examination of the new Chapter XVII-B on taxation of registered NPOs
• Comparative Tables – Detailed charts mapping provisions of the ITA to those in the ITB, highlighting significant changes
• Repealed Provisions – A table enumerating ITA provisions omitted in the ITB, ensuring clarity on discontinued rules
• Income-tax Bill 2025 – Organised across 23 chapters, covering preliminary definitions, substantive tax matters, administrative processes, and concluding with transitional and miscellaneous clauses
• Schedules – Sixteen schedules outlining investment modes, exemptions, prescribed forms, and related technical considerations
• Index & Cross-references – Comprehensive indexing and rigorous cross-referencing to help readers quickly locate and contextualise specific clauses