Section 115-I → Section 131
Chapter XII-A not to apply if the assessee so chooses
Quick Answer
Section 115-I of the Income Tax Act, 1961 (Chapter XII-A not to apply if the assessee so chooses) corresponds to Section 131 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
Sec 115-I
Provision Summary
Allows an NRI to opt out of these special concessional rates if normal slab rates (or other deductions) are more beneficial to them.
Sec 131
Provision Summary
Retained. Allows taxpayers to use tax optimization algorithms to choose the best regime.
Key Changes & Highlights
- Opting out can be done dynamically at the time of filing the ITR.
Frequently Asked Questions
What does Section 115-I of the Income Tax Act 1961 deal with?
Section 115-I (Chapter XII-A not to apply if the assessee so chooses) Allows an NRI to opt out of these special concessional rates if normal slab rates (or other deductions) are more beneficial to them.
What is the new section number for Section 115-I under the Direct Tax Code 2025?
Section 115-I of the ITA 1961 maps to Section 131 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 115-I under the new tax code?
Section 115-I is marked as "Retained" with status "Active". Impact: Medium - Flexibility in tax planning.
What are the key changes to Section 115-I under DTC 2025?
Opting out can be done dynamically at the time of filing the ITR.
Disclaimer: This page is for educational and reference purposes only. Section mappings are based on publicly available drafts and circulars. Always consult a qualified Chartered Accountant before filing or making compliance decisions under the Direct Tax Code 2025.
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