LMP Income Tax Act, 2025 2nd Edition April 2026 by CA Pramod Jain & CA Shreya Jain

• Bare Act of the Income Tax Act, 2025:

  Presents statutory provisions with easy navigation through headings and sub-headings.
• Concise Commentary:

  Offers focused and concise comments, including comparative notes to the Income Tax Act, 1961.
• Case Laws:

  Summarizes important judicial pronouncements and extracts the core principles of law and their practical application.
• Gist of Important Circulars and Notifications under the Income Tax Act, 1961:

  Consolidates key circulars and notifications from the old Act, offering historical context and interpretive guidance, especially where the 2025 law maintains continuity with the 1961 framework.

Content of the Book is as Follows –

I -PRELIMINARY

II – BASIS OF CHARGE

III -INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME

A.—Incomes not to be included in total income

B.—Incomes not to be included in total income of political parties and electoral trusts

IV – COMPUTATION OF TOTAL INCOME

A.—Heads of income

B.—Salaries

C.—Income from house property

D.—Profits and gains of business or profession

E.—Capital gains

F.—Income from other sources

V – INCOME OF OTHER PERSONS INCLUDED IN TOTAL INCOME OF ASSESSEE

VI – AGGREGATION OF INCOME

VII – SET OFF, OR CARRY FORWARD AND SET OFF OF LOSSES

VIII -DEDUCTIONS TO BE MADE IN COMPUTING TOTAL INCOME

A.—General

B.—Deductions in respect of certain payments

C.—Deductions in respect of certain incomes

D.—Deductions in respect of other incomes

E.—Other deductions

IX – REBATES AND RELIEFS

A.—Rebates and reliefs

B.—Double taxation relief

X – SPECIAL PROVISIONS RELATING TO AVOIDANCE OF TAX

XI -GENERAL ANTI-AVOIDANCE RULE

XII -MODE OF PAYMENT IN CERTAIN CASES, ETC.

XIII – DETERMINATION OF TAX IN SPECIAL CASES

A.—Determination of tax in certain special cases

B.—Special provisions relating to tax on capital gains

C.—New tax regime

D.—Special provisions relating to minimum alternate tax and alternate minimum tax

E.—Special provisions relating to non-residents and foreign companies

F.—Special provisions relating to pass-through entities

G.—Special provisions relating to income of shipping companies

XIV – TAX ADMINISTRATION

A.—Authorities, jurisdiction and functions

B.—Powers

XV – RETURN OF INCOME

A.—Allotment of Permanent Account Number

B.—Filing of return of income

XVI – PROCEDURE FOR ASSESSMENT

A.—Procedure for assessment

B.—Special procedure for assessment of search cases

XVII – SPECIAL PROVISIONS RELATING TO CERTAIN PERSONS

A.—Association of persons, firm, Hindu undivided family, etc.

1.—Legal representatives

2.—Representative assessees — General provisions

3.—Representative assessees — Special cases

4.—Association of persons and body of individuals

5.—Executors

6.—Succession to business or profession

7.—Partition

8.—Profits of non-residents from occasional shipping business

9.—Persons leaving India

10.—Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose

11.—Persons trying to alienate their assets

12.—Discontinuance of business, or dissolution

13.—Private companies

14.—Assessment of firms

15.—Change in constitution, succession and dissolution

16.—Liability of partners of limited liability partnership in liquidation

B.—Special provisions for registered non-profit organisation

XVIII – APPEALS, REVISIONS AND ALTERNATE DISPUTE RESOLUTIONS

A.—Appeals

B.—Special provisions for avoiding repetitive appeals

C.—Revision by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner

D.—Alternate Dispute Resolutions

XIX – COLLECTION AND RECOVERY OF TAX

A.—General

B.—Deduction and collection at source

C.—Advance payment of tax

D.—Collection and Recovery

E – Interest Chargeable in certain Cases

F – Levy of fee In Certain Cases

XX – Refunds

XXI – Penalties

XXII – Offences and Prosecution

XXIII – Miscellaneous