Agenda:

A comprehensive roadmap for navigating India’s historic transition from the legacy Income Tax Act of 1961 to the newly enacted Income Tax Act, 2025. We will begin by discussing the macro-intent behind this overhaul—shifting away from a fragmented code cluttered by decades of amendments toward a leaner, core text built around the unified concept of a single “Tax Year.” Participants will explore the practical financial implications of the revised tax slabs, the enhanced Section 87A rebate (making income up to ₹12 lakh effectively tax-free under the default new regime), and the massively updated monetary thresholds for daily transactions and revised allowance limits under the New Income Tax Rules. Finally, the session will break down the structural consolidation of compliance, including the merger of scattered TDS provisions and extended timelines for filing revised returns, closing with an interactive Q&A session to address immediate business and personal restructuring queries

In this webinar, the speaker will discuss:

Part 1: The Macro Shift — Why the 1961 Act is Out

• The Legislative Reset: Understanding why the 1961 Act was repealed and how the 2025 Act slashes complexity (e.g., dropping from over 800 sections to 536 sections).
• Goodbye “Assessment Year”: Introducing the brand-new, uniform concept of the “Tax Year” which replaces the confusing “Previous Year” vs. “Assessment Year” dynamic.
• Structural Cleanup: How scattered provisos, explanations, and cross-references have been integrated cleanly into main sections, tables, and formulas

Part 2: Slabs, Rebates, and Personal Tax Impact

• The Default Regime Upgrades: A deep dive into the relaxed slabs where the top 30% rate bracket has been pushed all the way out to income exceeding ₹24 lakh.
• The ₹12 Lakh Equation: Explaining how the enhanced Section 87A rebate (capped at ₹60,000) makes a taxable income of up to ₹12 lakh effectively zero-tax for resident individuals.
• Standard Deduction & Seniors: Highlighting the default ₹75,000 deduction for salaried individuals and the increased ₹1 lakh deduction limit for senior citizens.

Part 3: The New Rules & Everyday Monetary Thresholds

• Inflation-Adjusted Allowances: Reviewing the long-awaited hikes to exempt allowances under the companion Income Tax Rules (e.g., Children’s Education Allowance jumping to ₹3,000/month, and Free Meals cap moving to ₹200/meal).
• Revised PAN & Transaction Limits: Highlighting higher thresholds for quoting PAN (e.g., immovable property limit raised to ₹20 lakh; cash deposits/withdrawals tracking at ₹10 lakh annually).
• HRA & Capital Gains Tweaks: The expansion of the 50% Metro HRA exemption to 4 new cities (Bengaluru, Pune, Hyderabad, Ahmedabad) under the old regime, and the treating of share buybacks as capital gains rather than deemed dividends.

Part 4: Administrative Simplification & TDS Overhaul

• Consolidated TDS Framework: Navigating the structural mapping where scattered old TDS clauses are bundled together under single umbrella sections (like Section 393).
• Relaxed Deadlines: Extensions in filing due dates for non-audit taxpayers (ITR-3 & ITR-4 pushed to August 31st) and the extended 12-month window to file revised returns.
• The Sunset of Banned Penalties: Deletion of harsh compliance sections like 206AB/206CCA, demonstrating a shift toward a trust-based tax ecosystem.

About the Speaker:

CA Ankita Bothra is a practicing Chartered Accountant and Partner of M/s. Jaikumar Jain & Co. with expertise in Direct taxation, Accountant, Audit, Business Compliance etc. She has completed B.Com and also Diploma in System auditor (DISA) by ICAI, and certified concurrent audior, and regularly conduct professional sessions on income tax specially Income tax act 2025 and also authored few books related to Income tax act 2025 like memory technique to learn income tax act 2025 sections, Simplified income tax act 2025 learning through sections along with rules and form no.

She is actively involved in professional knowledge sharing through webinars, articles, and training sessions for professionals and students. Her  practical approach towards finance, taxation and business advisory helps participants understand complex concepts in a simple and implementation – oriented manner.