{"act":{"id":"finance-act-2025","short_title":"The Finance Act, 2025","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2025-2026.","act_number":"7","act_year":2025,"enact_date":"2025-08-16","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":153,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2025/"},"unit":"section","section":{"number":"25","heading":"Amendment of section 115BAC","text":"Amendment of section 115BAC. 25. In section 115BAC of the Income-tax Act, in sub-section (1A), with effect from the 1st April, 2026,— (a) | in clause (ii), the words \"or after\" shall be omitted; (b) | after clause (ii), the following clause shall be inserted, namely:— \"(iii) for any previous year relevant to the assessment year beginning on or after the 1st April, 2026, shall be computed at the rate of tax given in the following Table, namely:— Table Sl. No. | Total income | Rate of tax (1) | (2) | (3) 1. | Upto Rs. 4,00,000 | Nil 2. | From Rs. 4,00,001 to Rs. 8,00,000 | 5 per cent 3. | From Rs. 8,00,001 to Rs. 12,00,000 | 10 per cent 4. | From Rs. 12,00,001 to Rs. 16,00,000 | 15 per cent 5. | From Rs. 16,00,001 to Rs. 20,00,000 | 20 per cent 6. | From Rs. 20,00,001 to Rs. 24,00,000 | 25 per cent 7. | Above Rs. 24,00,000 | 30 per cent\".","html":"<p><b>Amendment of section 115BAC.</b></p><p><b>25. </b>In section 115BAC of the Income-tax Act, in sub-section (1A), with effect from the 1st April, 2026,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in clause (<i>ii</i>), the words \"or after\" shall be omitted;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>after clause (<i>ii</i>), the following clause shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>\"(<i>iii</i>) for any previous year relevant to the assessment year beginning on or after the 1st April, 2026, shall be computed at the rate of tax given in the following Table, namely:—</td></tr></table></div><p>Table</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td><i>Sl. No. </i></td><td><i>Total income</i></td><td><i>Rate of tax</i></td></tr><tr><td><i>(1)</i></td><td><i>(2)</i></td><td><i>(3)</i></td></tr><tr><td>1.</td><td>Upto Rs. 4,00,000</td><td><i>Nil</i></td></tr><tr><td>2.</td><td>From Rs. 4,00,001 to Rs. 8,00,000</td><td>5 per cent</td></tr><tr><td>3.</td><td>From Rs. 8,00,001 to Rs. 12,00,000</td><td>10 per cent</td></tr><tr><td>4.</td><td>From Rs. 12,00,001 to Rs. 16,00,000</td><td>15 per cent</td></tr><tr><td>5.</td><td>From Rs. 16,00,001 to Rs. 20,00,000</td><td>20 per cent</td></tr><tr><td>6.</td><td>From Rs. 20,00,001 to Rs. 24,00,000</td><td>25 per cent</td></tr><tr><td>7.</td><td>Above Rs. 24,00,000</td><td>30 per cent\".</td></tr></table></div>","words":169,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2025/section/25/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}