Income Tax Act 2025 Webinar | The Change & How to Adopt It Income Tax Act 2025 Malayalm |CA Subin VR

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##Income Tax Act 2025 Webinar | The Change & How to Adopt It**

From Complexity to Clarity – A Structural Revolution

The *Income Tax Act, 2025* is not just another amendment.
It is a *complete structural rewrite* of India’s direct tax law, replacing the patchwork system built over **64 years under the Income Tax Act, 1961**.

In this **in-depth webinar**, CA Subin VR explains **why the 1961 Act became unworkable**, **what exactly has changed in the 2025 Act**, and **how professionals and taxpayers must adapt to this new framework**.

This session focuses on **structure, logic, flow, and adoption**, not just section numbers.

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🔍 *What This Webinar Covers*

🔹 1️⃣ Why the 1961 Act Had to Change

819 effective sections across 47 chapters
Over *1,200 provisos* and *900 explanations*
Scattered provisions requiring constant cross-referencing
Alphabet-based insertions (115A to 115WM) leading to fragmentation and litigation
A law designed for a paper economy struggling in a digital world

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🔹 2️⃣ The Philosophy of Income Tax Act 2025

The 2025 Act is built on five core principles:

*Simplification* – Logical flow from income to tax liability
*Clarity* – Removal of layered provisos, use of tables & schedules
*Accessibility* – Sequential reading without jumping sections
*Modernisation* – Digital-first, cloud-based records recognised
*Consolidation* – Related provisions grouped into single chapters

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🔹 3️⃣ Structural Transformation: At a Glance

*Sections reduced* from 819 → 536 (34% reduction)
*Chapters reduced* from 47 → 23
*Word count reduced* by nearly 49%
1,200 provisos & 900 explanations removed
Clean-slate drafting with schedules replacing cluttered sections

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🔹 4️⃣ Key Conceptual Changes Explained

*Tax Year* replaces the confusing PY–AY dual system
Consolidated definitions in *Section 2* (Charitable Purpose, Relative, etc.)
Residential status rewritten using *clear tables*
Schedules introduced for exemptions instead of dumping everything into Section 10

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🔹 5️⃣ Chapter-Wise Reorganisation (With Practical Logic)

Income computation now follows *real-world workflow*
Separate chapters for:

Aggregation of income
Losses (Set-off & Carry Forward)
Deductions (no more 80C / 80D alphabet soup)
Rebates & Reliefs
Anti-Avoidance (TP & GAAR) clearly codified
Unified chapters for:

Assessments
Appeals & ADR
Penalties
Prosecution

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🔹 6️⃣ Digital-First & Faceless Future

Recognition of *cloud-based books of account*
Digital records accepted as primary evidence
Faceless, team-based assessment embedded in the statute
“Assessment” explicitly includes *re-computation*

👉 Digital compliance is no longer optional—it is statutory.

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🔹 7️⃣ What Was Removed & Why

Obsolete provisions finally purged
Dead chapters (Retail Trade, outdated anti-evasion measures) removed
Scattered special provisions consolidated logically
Modern GAAR replaces old property acquisition mechanisms

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🔹 8️⃣ Continuity & Transition Protection

Income Tax Act 1961 is *repealed, but not erased*
Past years continue to be governed by the old Act
Rights, credits, losses, and options *do not die*
Transactions may originate under the old Act but get taxed under the new one

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