Definitive Guide on Income-Tax Act, 2025 By Mayank Mohanka Edition 2025

Definitive Guide on Income-Tax Act, 2025 By Mayank Mohanka Edition 2025

Definitive Guide on Income-Tax Act, 2025 By Mayank Mohanka Edition 2025

The Income Tax Act, 2025 represents the most ambitious redrafting of India’s direct tax law since the enactment of the Income-tax Act, 1961, replacing 819 sections with 536 streamlined provisions. But perceived simplification and fewer sections often bring with them new complexities.

This Comparative Commentary is a practical guide for every stakeholder—tax practitioners, taxpayers, income-tax officials, judges, and students alike. It places each provision of the new law against its predecessor, decodes the legislative intent, highlights the continuities and disruptions in settled jurisprudence, and offers practical illustrations of how the changes may play out in real-world scenarios.

• 1 ITA, 2025 – Genesis, Legislative Intent, and Doctrinal Shifts
• 2 From 819 to 536 : Doctrinal Shift of Reduction in Number of Sections
• 3 Provisos to Sub-sections : The Swinging Pendulum
• 4 Explanations to Sub-sections: The Changing Interpretative Landscape
• 5 Provisos and Explanations in Transition : The Temporal Dilemma
• 6 Tables and Formulas: The New Drafting Technique
• 7 The Connective ‘Where’ in the Income-tax Act, 2025
• 8 The Asymmetrical ‘No Policy Change’ Policy of ITA, 2025
• 9 Definitional Constants & Changes: Sec. 2 in Spotlight
• 10 ‘Assessment Year’ to ‘Tax Year’: The Meaningful Change
• 11 Residential Status Recast
• 12 Income Deemed to Accrue or Arise in India – A Comparative Crosswalk
• 13 Business Connection, Significant Economic Presence, Royalty & FTS
• 14 ‘Salary’ Income – Head to Head Comparison
• 15 Income from House Property : A Case of Improved Drafting
• 16 Income from Business or Profession : Section by Section Crosswalk
• 17 Key PGBP Provisions: A Microscopic Comparison
• 18 Maintenance of Books of Accounts & Tax Audit
• 19 Presumptive Taxation Regime: Cleaner, Leaner Avatar
• 20 Capital Gains Provisions : Continuity in Substance, Clarity in Form
• 21 Capital Gains Exemption Provisions: Shifting Base from Assets to Gains
• 22 Income from Other Sources: Focus on Gift Taxation
• 23 Set-Off and Carry Forward of Losses: A ‘S’ sets Cats Among Pigeons!
• 24 MAT and AMT Provisions: Textual Density Galore
• 25 Special Concessional Tax Regimes: Unified Structural Design
• 26 Tax on Dividends, Interest, Royalty & FTS in the Case of Non Residents
• 27 GAAR — The ‘Notwithstanding’ vs ‘Irrespective of’ Debacle
• 28 Associated Enterprises: Transfer Pricing Regime Gateway
• 29 International Transactions: Dilution of the Income Bearing Filter
• 30 Impact of Expanded Definitions on Benchmarking Methods under Transfer Pricing
• 31 TDS Provisions: Tables, Formulas & Clarity
• 32 TCS Provisions: A Comparative Crosswalk
• 33 Undisclosed Income: The Expanded Horizons
• 34 Search and Seizure Provisions: Digital Enforcement Paradigm
• 35 Unearthing the Unearthed: Revisiting the Law of Block Assessments
• 36 Assessment Provisions: From Codification to Notification
• 37 Faceless Regime in ITA, 2025: Dilution of Legislative Mandate?
• 38 Time Limits for Completion of Assessments: The Continuum
• 39 Reassessment/Income Escaping Assessments: Expanded Reach
• 40 Shelf Drilling Controversy: A Missed Opportunity (Sections 275 & 286 of ITA 2025 v. Sections 144C & 153 of ITA 1961)
• 41 Charitable Trusts to NPOs: Codifying Compliance
• 42 GPUs: Altering the Risk Calculus for NPOs
• 43 Penalty for Under-Reporting and Misreporting of Income
• 44 Repeal & Savings: The Practical Starting Point
• 45 Mapping Navigator: Bridge between ITA, 2025 & ITA, 1961

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