Library / Income-tax Act, 2025: The Professional's Master Guide
Index
References are to page numbers. Where a subject is discussed on many pages, the main discussions are listed. Section numbers are those of the Income-tax Act, 2025. See also the Contents, the List of Illustrations and Appendix J (Selected Sections).
A
Accreted income (exit tax) 97-98
Additional depreciation 47, 101-103, 192
Additional employee cost (section 146) 79-83, 88, 101
Advance pricing agreement 111, 120, 135-136, 139-140, 173
Advance tax 12, 110, 145, 155-156, 164, 174
Agricultural income 25-28, 157
Agricultural land, rural and urban 13, 26, 58-59
AIS and TIS 70-72, 158-159, 163-164
Alternate Minimum Tax (AMT) 10, 12, 15, 95, 99, 102-103
Amalgamation 42, 47, 57, 116-117, 120-121
Angel tax (abolished) 107
Anonymous donations 97-98, 190
Anti-avoidance rules 125, 142-143
Appeals 16, 139, 145, 164, 166, 172-173
Appellate Tribunal (ITAT) 166, 172
Arm's length price 110, 129, 135-136, 138-139, 141
Arrears of salary, relief (section 157) 12, 31, 35, 37, 153
Assessment 162, 166-167
Associated enterprise 129-130, 135-136, 142
Association of persons (AOP) 13, 18, 20-21, 27, 95-96
B
Bad debts 42, 46, 112
Benefits or perquisites of business 43, 55, 146, 150
Block assessment 137, 170-171
Bonus shares 61
Book profit 45, 102-104, 183, 187, 192
Books of account 42, 49, 54, 98, 181
Business connection 23-24, 125, 128
Buyback of shares 11, 59-60, 65, 101, 104, 106
C
Capital asset, meaning 13, 29, 59-60, 95, 114, 195
Capital Gains Accounts Scheme 59, 62, 72, 185
Capital or revenue expenditure 44, 50, 109
Cash payments, disallowance 43, 45, 49, 53-54, 160, 183
Cess 27, 30, 36, 58, 85, 99, 133
Clubbing of income 74-76, 87-88, 93-94
Co-operative societies 39, 60, 74, 82, 99-100, 158
Company tax rates 88, 101-103, 105, 187, 192
Composite rent 40-41, 72
Contractor payments, TDS 56, 110-111, 120, 145-146, 148
Corporate social responsibility (CSR) 43-44, 56, 105, 109
Cost Inflation Index 61-62, 64, 73, 184
Cost of acquisition 55, 57-58, 61
Country-by-country report 107, 128, 135, 137, 139, 178
D
Deemed dividend 13, 66, 69, 106-108, 110
Deemed owner (house property) 39, 41
Deemed resident 19-21
Deferred tax 102-104, 109-110, 114
Demerger 12, 42, 47, 57, 59, 116, 118
Depreciation 46, 52-53, 103, 105, 117, 122
Digital compliance 151, 154, 162-165, 167
Dispute Resolution Committee 173
Dispute Resolution Panel 139, 166, 172-173
Dividends 66, 69, 104, 106, 108, 110, 143
Donations (section 133) 44, 79-81, 97-98, 190
Double taxation relief 125-126, 128, 130, 140, 173
Due dates for returns 43-45, 49, 52, 161, 194
E
Education loan interest (section 129) 79
Employee stock options (ESOPs) and RSUs 30, 36-37, 109, 111, 114, 132
Employer contribution to NPS 23, 26, 30, 33, 35, 153, 179
Equalisation levy 111, 128
Exempt income (Schedules) 10-11, 25-28, 103
F
F&O trading 48, 158, 186
Faceless procedures 164-167, 169, 172-173
Family pension 29, 66-68
Fees for technical services 23-24, 42, 51, 125, 127, 129
Firms and LLPs 13, 17, 95-96, 119, 158, 183
Foreign assets reporting (Schedule FA) 37, 71, 128, 131-132, 196
Foreign tax credit 37, 125, 128, 131-132, 196
Form 121 (declaration for no TDS) 87, 89-90, 145-147, 184
Form 130 (salary TDS certificate) 11, 16, 154, 167
Form 168 (annual tax statement) 11, 111, 151-152, 158-159, 167
Form 26 (tax audit report) 26, 49-50, 54, 56, 160-161
Form 48 (transfer pricing report) 11, 110, 135, 137, 141
Forms under the Income-tax Rules, 2026 11, 15, 30-31, 178
G
GAAR 12, 14, 87-88, 120, 142-143
Gifts 13, 67, 74-75, 87-88, 93
Goodwill 46-47, 56, 61, 95, 114, 124
Grandfathering of listed shares 61, 130, 142, 144
Gratuity 25-26, 29, 34, 42-43, 45
GST and income tax 52, 54, 101, 113, 122, 149, 160
H
Health insurance (section 126) 29-30, 79-80, 86, 89, 184
Hindu Undivided Family (HUF) 13, 20-21, 93-94, 157, 197
House property, income from 38-41, 77-78, 179
House rent allowance (HRA) 26, 29-32, 81, 179
I
ICDS 53-54, 56, 105, 107, 114, 160
IFSC units 79, 82, 102, 107, 142
Immunity from penalty 162, 175-177
Ind AS and income tax 101-103, 107, 109, 114-115
Indexation 57, 61-62, 64, 72-73, 184
Indirect transfer 14, 23, 75, 119, 122-124
Inheritance 57, 61, 64, 67, 72, 87, 91
Interest (sections 423 to 426) 155-156
Interest on borrowed capital 38, 42, 50
J
Joint development agreement 60, 73, 111
L
Leave encashment 25-26, 29, 34, 45, 52
Life insurance, maturity exemption 26, 71, 80, 150
Long-term capital gains 57-58, 62-63, 77-78, 195
Losses, set off and carry forward 53, 77-78, 106, 117, 186, 195
Lower deduction certificate (section 395) 72, 119, 127, 133-134, 147, 189
M
Marginal relief 84-86, 182
Master file 107, 135, 137, 139, 178
MAT (Minimum Alternate Tax) 101-104, 110, 114, 187
MAT credit 11, 101-104, 120, 122
Mergers and acquisitions 116-118, 120, 122-123, 188
MSME dues (section 37) 42, 45-46, 52, 54, 56, 111
Mutual funds 57, 63, 66, 68, 70-71, 80
N
New tax regime (section 202) 29-30, 78, 84-85, 87, 89
Non-profit organisations 12, 15, 74, 97-98, 112, 158
Non-residents 24, 119, 125-127, 133, 189
Notices, handling 162-164, 166-168, 172
NPS 30, 33, 79-80, 83, 153, 179
NRIs 19-20, 72-73, 133-134, 196
O
Old tax regime 27, 84-85, 89, 91, 179, 192
P
Partial integration 26-28
Partner remuneration and interest 44-45, 51, 88, 95-96, 183
Penalties 44, 105, 113, 132, 162, 175-176
Permanent establishment 125-131
Perquisites 29-30, 32-33, 36-37, 153
Place of effective management (POEM) 20-22, 128
Pre-construction interest 38, 40-41
Presumptive taxation (section 58) 10, 48-49, 53, 55, 126, 193
Principal Purpose Test 14, 126, 130, 132, 143-144
Professional fees, TDS 44, 110, 145-146, 148, 194
Prosecution and compounding 145, 150, 152, 176-177
Provident fund 23, 26, 33, 35, 43-44, 52
R
Reassessment 11-12, 119-120, 166, 168-169
Rebate (section 156) 36, 84, 86, 89, 94, 134, 184
Rectification 162, 164, 168-169, 172
Refunds and interest on refunds 12, 43, 155, 162, 164, 174, 189
Reinvestment exemptions (sections 82 to 86) 58, 62-64, 73, 184-185
Related party payments (section 36) 42, 45, 51, 53, 110, 135, 160
Rent, TDS on 10, 145, 149, 181
Residential status 19-22, 119, 133, 189
Retirement benefits 26, 32-35, 91, 196
Returns of income 72, 93, 98, 100, 157-158, 193
Revised, belated and updated returns 11, 157-159
RNOR (resident but not ordinarily resident) 19-23, 132, 196
S
Safe harbour 11, 111-112, 135-136, 139, 141
Salaries 24, 29, 31, 35-36, 153, 186
Search and seizure 120, 138-139, 145, 158, 170-171
Secondary adjustment 120, 135-136, 138-139, 141, 191
Section 119 (change in shareholding) 54, 77, 106, 108-110, 187
Section 123 deductions 10-12, 14, 30, 80, 91
Section 14 disallowance 26-28
Senior citizens 70, 79-80, 86, 89, 146, 184
Significant economic presence 23-24, 111, 125, 128
Slump sale 57, 65, 116, 118, 121-122, 124
Software payments, royalty 47, 50, 55, 111, 126, 129, 136
Specified domestic transactions 110, 135, 175
Speculation business 48, 55, 77-78, 186
Stamp duty value 48, 58, 60, 64, 67, 72, 111
Standard deduction 29-30, 37-38, 41, 85, 179
Start-ups 79, 82, 106, 108-110, 187
Stay of demand 172
Surcharge 85, 99, 101, 104-105, 125, 133
Survey 145, 158, 167-168, 170-171
T
Tax audit (section 63) 42, 49, 54, 109, 113, 160, 194
Tax planning 13-15, 74, 87
Tax Year (section 3) 10, 14, 17-18, 54, 131
TCS (section 394) 10, 107, 131, 145, 147, 150, 152
TDS (sections 392 to 397) 44, 133, 145, 147, 150, 153, 194
Thin capitalisation (section 177) 56, 112, 142-144
Transfer pricing 110, 135-137, 139, 141, 191
Transition from the 1961 Act 10-12, 16-18, 102
Treaties (DTAA) 22, 125-127, 129-130, 143
Trusts, private 91-92
U
Unabsorbed depreciation 53, 77, 104, 106, 122, 187-188
Unexplained credits and investments 11, 74-76, 109, 113
V
Virtual digital assets 48, 55, 71, 77, 146, 150
Voluntary retirement (VRS) 26, 29, 35, 42, 47
W
Winnings from lottery and games 13, 66-69, 150-151
Withholding on payments to non-residents (section 393(2)) 72, 119, 126-127, 132-134
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