Income Tax Act, 2025 – by ICAI

The Institute of Chartered Accountants of India issued Income Tax Act, 2025 including Tabular mapping of Sections vis-a-vis Income tax Act, 1961.

September, 2025 edition

• Income tax Act, 2025 to be effective from 01.04.2026

• The Act simplifies language, removes obsolete provisions and consolidates and restructures provisions.

• It introduces concept of ‘Tax Year’ replacing ‘Assessment Year’ and ‘Previous Year’

• The Act defines Virtual Digital Assets (VDAs), including cryptocurrencies and tokenized assets.