Income Tax Act, 1961 As Amended by Finance Act, 2026 by CA (Dr.) Girish Ahuja and CA (Adv.) Rahul Agrawal – 15th Edition 2026

Description

This 15th edition of the Income Tax Act, 1961, updated with all amendments introduced by the Finance Act, 2026, serves as a comprehensive and authoritative legal reference for students preparing for the All India Bar Examination (AIBE), as well as professionals in law, finance, taxation, and accounting. Edited by CA (Dr.) Girish Ahuja and assisted by CA (Adv.) Rahul Agrawal, this edition combines statutory accuracy with practical relevance by incorporating relevant judicial decisions and CBDT circulars.

The book presents the amended provisions of the Income Tax Act, 1961 in a clear and structured manner, ensuring alignment with the latest legislative and regulatory developments applicable for the year 2026. It is designed to provide both a reliable bare act reference and valuable analytical insights for real-world application.

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 and Aggregation of Income
• Taxation of Individuals, HUFs, Firms, LLPs, Companies, and Non-residents
• Computation of Income and Filing of Returns
• Assessment, Reassessment, and Appeals
• Penalties, Prosecutions, and Recovery
• TDS/TCS Provisions and Advance Tax
• Incorporation of Relevant Judicial Decisions and CBDT Circulars
• Updated Provisions as per Finance Act, 2026 including latest rates, exemptions, and compliance requirements

This edition is particularly suitable for:
• Law students and academicians requiring current statutory material with practical insights
• Chartered accountants and tax practitioners needing a dependable reference with case law support
• Legal professionals handling taxation matters and litigation
• Corporate professionals ensuring compliance with evolving tax regulations

Whether used for academic study, professional practice, or examination preparation, this updated edition delivers a complete and current understanding of the Income Tax Act, 1961 as amended by the Finance Act, 2026.