Income Tax Act, 2025

The Income Tax Act 2025 introduces a series of updated provisions and amendments aimed at streamlining taxation processes for individuals, businesses, and organizations in India. This category covers key changes and new regulations under the Act, including tax rates, exemptions, deductions, compliance requirements, and procedural updates. It is designed to guide taxpayers, chartered accountants, and legal professionals through the latest tax laws, ensuring accurate filing, improved transparency, and enhanced ease of doing business. Explore detailed insights on the income tax landscape for 2025, including provisions for both direct and indirect taxation, digital taxation trends, and government initiatives for economic growth.

Section 81 of Income Tax Act, 2025 : Advance money received.

Where any capital asset was, on any previous occasion, the subject of negotiations for its transfer, any advance or other money received and retained by  the assessee in respect of such negotiations––(a) shall be deducted from the cost for which the asset was acquired or the written down value or the fair market value, as

Section 82 of Income Tax Act, 2025 : Profit on sale of property used for residence.

(1) Where an individual or Hindu undivided family––(a) has long-term capital gains arising from the transfer of a capital asset, being buildings or lands appurtenant thereto, and being a residential house, the income of which is chargeable under the head “Income from house property” (original asset); and(b) has within one year before or two years