ICAI Issues Publication on Income Tax Act 2025 [Download publication]:

ICAI Issues Publication on Income Tax Act 2025 [Download publication] The Institute of Chartered Accountants of India (ICAI), set up by an Act of Parliament, has issued the updated publication for the Income Tax Act, 2025 (First Edition), September 2025, including Tabular Mapping of Sections vis-a-vis the Income Tax Act, 1961. This publication replaces the rules of the earlier Income Tax Act 1961. The revised income tax rules are scheduled to take effect from April 01, 2026, indicating major revisions of the direct tax law of India, aimed at enhancing clarity, simplifying procedures, and reducing litigation. The effect of the updated version of the Income Tax Act 1961 is a significant milestone in India’s journey toward simplifying its income tax framework.

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The previous year, the Hon’ble Finance Minister, Nirmala Sitharaman, laid down the foundation for the Income Tax Act. While presenting in her Budget Speech-Union Budget 2024-25, she gave a comprehensive review of the revised Income Tax Act, 1961, to make provisions easier to understand and comply with. The updated version of the Income-tax Act, 2025, published on September 03, 2025, in the Gazette of India, has also been incorporated in this publication. Below is the link to download the Updated Publication for the Income Tax Act, 2025 (First Edition), September 2025, released by ICAI.