The Central Board of Direct Taxes (CBDT) has published the latest version of the Income-tax Act, 1961, reflecting all amendments introduced by the Finance Act, 2025. This consolidated version is now accessible on the official Income Tax Department website under the "All Acts" section .
Key Features of the Updated Act
- Comprehensive Amendments: The updated Act integrates all changes from the Finance Act, 2025, ensuring that taxpayers and professionals have access to the most current tax provisions.
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User-Friendly Navigation: The online version offers enhanced features, including:
- Side-by-side comparison of different sections.
- Chapter-wise viewing for focused reading.
- Search functionality to locate specific sections or keywords quickly.
Notable Updates in the 2025 Amendments
- Revised ITR Forms: CBDT has notified new Income Tax Return (ITR) forms for the Assessment Year 2025-26. Notably, ITR Form 5 now includes a split within the Schedule-Capital Gain, requiring taxpayers to report capital gains before and after July 23, 2024.
- Simplification Efforts: The Income-tax Bill, 2025, aims to simplify the tax law by removing redundant provisions and minimizing litigation. This initiative is part of a broader effort to make tax compliance more straightforward for taxpayers.
- Enhanced Digital Access for Authorities: The new bill proposes granting tax authorities broader powers to access taxpayers' digital records, including emails and social media accounts, during investigations. This move is intended to strengthen tax enforcement but has raised concerns about privacy and the need for clear safeguards.
Accessing the Updated Act
To view the revised Income-tax Act, 1961, visit the official Income Tax Department website and navigate to the "All Acts" section. The platform's enhanced features will assist you in efficiently locating and understanding the relevant tax provisions.
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