The Income Tax Department has introduced a new online tool to help taxpayers and professionals compare the current Income Tax Act, 1961, with the forthcoming Income Tax Act, 2025. This utility allows users to see how old sections correspond to new clauses, simplifying the understanding of changes before the new Act takes effect on April 1, 2026. It's designed to assist with the transition, interpretation, and compliance with the updated tax law.
The Income Tax Department has launched a new online utility tool that allows taxpayers and professionals to easily compare provisions of the Income Tax Act, 1961 with the upcoming Income Tax Act, 2025.
The tool helps users map old sections to corresponding clauses in the new law, making it easier t
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It is an online tool that allows users to compare the provisions of the Income Tax Act, 1961, with the upcoming Income Tax Act, 2025.
The Income Tax Act, 2025, will replace the 1961 law and come into effect from April 1, 2026.
The tool helps users map old sections from the 1961 Act to corresponding clauses in the 2025 Act, making it easier to understand the changes and ensuring a smoother transition.
Key features include section-to-clause mapping, simplifying the transition to the new law by helping understand renumbering and restructuring, and supporting the interpretation of the new Act.
The Income Tax Act, 2025, introduces a simplified and modern framework, but many sections have been renumbered and reorganised. Comparing them is crucial for smooth transition and better compliance.