Commercial Income Tax Act, 1961 As Amended by Finance Act, 2026 By Dr Girish Ahuja 15th Edition March 2026

Income Tax Act, 1961 As Amended by Finance Act, 2026 Dr Girish Ahuja

Income Tax Act, 1961 As Amended by Finance Act, 2026 Dr Girish Ahuja

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 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

About the Editor

Dr. GIRISH AHUJA did his graduation and post-graduation from Shri Ram College of Commerce, Delhi and was a position holder. He was awarded a Ph.D. degree by Faculty of Management Studies (FMS), Delhi University. He has been teaching Direct Taxes to students at various levels for more than 35 years. He is a Fellow of the Institute of Chartered Accountant of India (ICAI) and was a rank holder of both Intermediate and Final examinations of the Institute. He was a senior faculty member of Shriram College of Commerce (Delhi University) and also has been visiting faculty member of the Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI) and various management institutes. He had been nominated by the Government to the Central Council of the Institute of Company Secretaries of India for two terms. He is a Special Invitee to the Fiscal Law Committee of ICAI and Editorial Board of ICSI. He is also on the Board of Directors of many reputed companies and has a vast and rich experience in the field of Finance and Taxation. He has also been appointed by the Govt. of India to the Central Board of Director of State Bank of India?Dr. Ahuja has addressed more than 4000 seminars organized by the ICAI, ICSI, ICWAI, Chambers of Commerce