Income-tax Act, 1961 (Historical / Transitional Reference)
The principal historical direct tax statute governing assessment years prior to AY 2026-27, preserved for ongoing appeals, pending scrutinies, and reassessments.
Income-tax Act, 1961 (Transitional & Historical Reference)
Statutory Role in 2026–2027 Practice While the modernized tax framework governs forward periods, the Income-tax Act, 1961 remains of supreme judicial importance for: - Appeals pending before CIT(Appeals), ITAT, High Courts, and the Supreme Court. - Re-assessment notices issued under Section 148/148A for assessment years prior to the transition. - Carry-forward and set-off of accumulated business losses and unabsorbed depreciation originating under the 1961 enactment.
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Statutory Details
The information, acts, rules, circulars, notifications, tax rates, and calculators provided in this Knowledge Bank are intended strictly for general educational and informational purposes. Laws, statutory rules, rate matrices, procedures, and statutory due dates may change through subsequent government notifications, official circulars, parliamentary amendments, or judicial rulings.
Taxpayers are strongly advised to verify the latest official gazette publication or consult a qualified Chartered Accountant / legal counsel before executing financial decisions or statutory submissions based on this data.