ICAI Released Income Tax Act 2025 (As amended by Finance Act 2026) along with tabular mapping with old income tax act.
Foreword to Second Edition
The Income-tax Act, 2025 comes into force on 1st April, 2026, marking a significant milestone in India’s direct tax landscape. The Income-tax Rules, 2026, along with the prescribed forms also have been notified on 20th March, 2026, thereby completing the foundational framework for the new law. The Institute of Chartered Accountants of India. (ICAI) takes great pride in having closely worked with the Government at every stage in shaping this landmark legislation.
Last year, after the Income-tax Act, 2025 was notified, ICAI through its Direct Taxes Committee (DTC) had, in line with its capacity building initiative to make the new law available to its members at a reasonable price, come out with the first edition (September, 2025) of its publication “Income-tax Act, 2025 Including Tabular Mapping of Sections vis-à-vis Income-tax Act, 1961”. It is encouraging to note that the publication has been well received and that the second edition of the publication based on the Income-tax Act, 2025, as amended by the Finance Act, 2026 is now being released.
Further, with the Income-tax Rules, 2026 and forms being notified, I am happy note that the Direct Taxes Committee, along with the International Taxation Committee, is also bringing out the publication “Income-tax Rules, 2026 Including Tabular Mapping of Rules and Forms vis-à-vis Income-tax Rules, 1962 and Forms”.
A notable feature of these publications is the tabular mapping of sections, rules and forms of the new Income-tax law with that of the Income-tax Act, 1961 and Income-tax Rules, 1962 presented in the initial pages, which will assist professionals in understanding and navigating the transition from the earlier law to the new framework with greater understanding and ease.
The Direct Taxes Committee of ICAI has been actively engaged in disseminating knowledge on the new Income-tax law through its Webinar series on the Income-tax Act, 2025, public outreach programs and seminars organized across the country. This updated publication is yet another step towards strengthening professional competence of the members and supporting effective implementation of the new legislation.
I place on record my appreciation for the dedicated efforts of CA. Piyush S. Chhajed, Chairman, Direct Taxes Committee, CA. Pankaj Shah, Vice Chairman, Direct Taxes Committee, CA. Satish Kumar Gupta, Chairman, International Taxation Committee and CA. Vishnu Kumar Agarwal, Vice Chairman, International Taxation Committee and all the members of both these Committees for bringing out the publication on the new Income-tax law.
I am confident that this publication will serve as a valuable reference for members and other stakeholders and will greatly assist them in effectively interpreting and applying the provisions of the new law.
Place: New Delhi
Date: 31st March, 2026
CA. Prasanna Kumar D
President, ICAI