Income Tax Act 1961 vs Income Tax Act 2025 | Deduction vs Rebate vs Relief Complete Comparison | 80C to 91 Explained If you want structured Income Tax learning, comment “MASTER”. This 60-minute masterclass explains the complete framework of Chapter VI-A deductions, rebate and relief provisions under the Income Tax Act 1961 and the New Income Tax Act 2025. In this detailed session, CA Devesh Thakur covers: ✔ Meaning of Gross Total Income (GTI) ✔ Section 80A framework and basic rules ✔ Section 80C

Income Tax in India is often believed to be a system introduced by the British — but the truth is far more powerful. India’s direct taxation system is over 2500 years old, rooted in ancient texts like Manu Smriti and Kautilya’s Arthashastra, where taxation was based on fairness, ability to pay, and public welfare. From Kalidasa’s philosophy on taxation, to ancient world civilizations, medieval and British-era taxation, the Income Tax Act, 1922, the Income Tax Act, 1961, and now the upcoming Inco

"In July 2024, I announced a comprehensive review of the Income Tax Act 1961. This was completed in a record time and the Income Tax Act 2025 will come into effect from 1st April 2026," Finance Minister Nirmala Sitharaman said. "I propose that any interest awarded by the Motor Accident Claims Tribunal to a natural person will be exempt from income tax and any TDS on this account will be done away with," FM added. #BudgetOnIndiaToday #NirmalaSitharaman #UnionBudget2026 #Budget2026 | India Today