Income Tax Act, 1961 (AIBE)

Income Tax Act, 1961 (AIBE)

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Author : Commercial Law Publishers
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Income Tax Act,1961 As amended by The Finance Act, 2025 (AIBE)

This edition of the Income Tax Act, 1961, updated with all amendments introduced by the Finance Act, 2025 (Act 7 of 2025, dated 29-3-2025), serves as a comprehensive and reliable legal reference for students preparing for the All India Bar Examination (AIBE), as well as professionals in law, finance, taxation, and accounting.


The book presents the bare text of the law—precisely as enacted—without commentary or interpretation, making it ideal for examination purposes and legal referencing. It includes all the provisions of the Income Tax Act, 1961, as they stand today, after being fully revised in light of the latest Finance Act. This ensures complete alignment with current legislative frameworks and real-world applicability in legal and financial practice.


The content spans the full scope of the Income Tax Act, including:

• Definitions and Scope of Total Income

• Residential Status and Tax Incidence

• Heads of Income – Salaries, Income from House Property, Profits and Gains of Business or Profession, Capital Gains, and Income from Other Sources

• Deductions under Chapter VI-A

• Set-off and Carry Forward of Losses

• Clubbing of Income and Aggregation of Income

• Taxation of Individuals, HUFs, Firms, LLPs, Companies, and Non-residents

• Computation Procedures and Return Filing Obligations

• Assessment, Reassessment, and Appeals Mechanisms

• Penalties, Prosecutions, and Recovery Procedures

• TDS/TCS Provisions and Advance Tax

• Special Provisions for International Taxation and Transfer Pricing

• Updates on the latest surcharge, cess, exemptions, rebates, and tax rates applicable for FY 2025–26


This edition is particularly suitable for:

• AIBE aspirants seeking a statutorily accurate resource

• Law students and academicians needing the most current version of the Act for coursework and projects

• Chartered accountants and tax consultants requiring a practical legal reference

• Litigators and legal professionals involved in taxation-related cases

• Corporate finance and compliance officers ensuring regulatory adherence


Whether used in the exam hall, the office, or in academic study, this updated text delivers the full legislative authority of the Income Tax Act, 1961, as it applies in 2025.

 

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Shipping & Returns

Shipping
Orders are shipped within 3–5 working days (exceptions may occur). Deliveries within Delhi usually take 3–5 working days post-shipment, while deliveries outside Delhi may take 4–5 working days. International shipping is not available at present. Once your package has been dispatched, you will receive a confirmation email with a tracking number to monitor your order.

Returns
We do not accept returns or exchanges for books once sold. A return or replacement is only possible if the book delivered is damaged or if the wrong book has been sent. In such cases, customers are requested to contact us within 7 days of delivery with order details and proof (such as a photo of the book). Refunds will be processed once the returned books are received and inspected, and the amount will be credited in the original form of payment within 7 working days. Shipping charges will not be refunded unless the return is due to our error.

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About the author

Commercial Law Publishers

Commercial Law Publishers

Commercial has been bold enough to bring out Books, Commentaries and Referencers on hitherto untouched subjects like Legal Metrology. It has a record number of publications on excise and customs; several titles on direct taxes as well as Sales Tax.

Commercial, in a way has brought about a reform in legal publishing by bringing out high quality publications at affordable prices and is an highly ethical business enterprise. Commercial has withstood the market competition successfully over the years including competition from Foreign publishers and strives its best to serve the legal and corporate professionals better and better every day with its novel ideas and business strategy. Commercial is backed by a team of highly competent in-house professional experts supplemented by high profile authors who have stood by it for decades.

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