Taxmann Master Guide to Income Tax Act 2025

Master Guide to Income Tax Act 2025 is a comprehensive reference that provides in-depth guidance on the transition from the Income-tax Act 1961 (1961 Act) to the newly enacted Income-tax Act 2025 (2025 Act). Designed as an authoritative commentary for readers, this Edition captures the complete legislative framework, commentary, judicial interpretations, and landmark rulings relevant under the new law. With a structured comparison between the 1961 Act and the 2025 Act, it serves as a practical handbook [in 1,200+ Pages] to decode and apply the provisions of India’s most significant tax reform in decades.

This book is intended for the following audience:

• Tax Professionals & Consultants – Chartered Accountants, tax advisors, and consultants interpreting the new law
• Corporate Finance & Legal Teams – In-house professionals managing compliance, litigation, and restructuring under the Income-tax Act 2025
• Judges, Advocates & Litigators – Legal professionals referencing statutory changes and judicial precedents for representation before appellate authorities and courts
• Academicians & Students – Teachers, researchers, and students seeking structured learning of the new tax framework
• Policy Analysts & Lawmakers – Stakeholders studying the transition of India’s direct tax regime for regulatory or policy inputs

The Present Publication is the 36^th Edition | 2025, authored by Taxmann’s Editorial Board, with the following noteworthy features:

• [Comprehensive Transition Commentary] Side-by-side analysis of changes from the 1961 Act to the 2025 Act
• [Judicially Defined Terms] Exhaustive dictionary of words and phrases judicially interpreted, directly mapped to the 2025 Act
• [Landmark Rulings Digest] Section-wise and alphabetically arranged summaries of Supreme Court and High Court judgments relevant under the 2025 framework
• [Cross-reference Tables] Old vs. new section mapping for seamless navigation between statutes
• [Visual Aids] Tables, charts, and illustrations simplifying complex provisions such as TDS, TCS, capital gains, and NPO regulations
• [Practical Orientation] Authored by practitioners for practitioners, ensuring actionable insights over theoretical discussion

The book is divided into three core divisions:

• Division I – Comprehensive Commentary & Transition Analysis | 200+ Pages explaining every critical shift in law, including:
  • Introduction & Definitions (new concepts like ‘Tax Year’, omission of ‘Assessment Year’, expanded definitions of income and charitable purpose)
  • Basis of Charge & Computation of Income (across all five heads, presumptive taxation, depreciation rules)
  • Special Tax Rates (concessional regimes, unexplained income, business restructurings)
  • Search, Seizure & Powers of Authorities (expanded and redefined powers, faceless schemes)
  • Assessment, TDS/TCS, Returns & Appeals (new compliance mechanisms, updated appellate framework)
  • Non-Profit Organisations (registration, compliance, taxation of income and corpus)
  • Miscellaneous Changes (penalties, prosecution, repeal and savings, transfer pricing clarifications)
• Division II – Judicial Definitions Dictionary | 300+ pages compiling:
  • Alphabetical listing of terms judicially defined and validated by courts
  • Section-wise arrangement ensuring quick reference during compliance or litigation
  • Citations of authoritative judicial interpretations retaining their relevance under the 2025 Act
• Division III – Landmark Rulings Digest | 600+ Pages covering:
  • Concise yet complete summaries of Supreme Court and High Court judgments
  • Case law arranged alphabetically and section-wise for quick access
  • Only those rulings that remain valid and precedential under the new legislative regime

The structure of the book is as follows:

• Division-based Framework – Commentary → Judicial Definitions → Landmark Rulings
• Chapter-wise Commentary – Each commentary chapter starts with a quick-reference summary
• Research-friendly Design – Cross-references, dictionary-style organisation, and digest notes
• Practice-oriented – Emphasis on applicability, compliance, and litigation strategies under the 2025 Act