What is the Income-tax Act, 2025 and when did it come into effect?

The Income-tax Act, 2025 replaced the Income Tax Act 1961 from April 1, 2026. It simplifies the entire direct tax framework, renumbers sections, removes redundancies, and modernizes taxation for India.

Is the Income Tax Act 1961 still valid after April 2026?

The Income Tax Act 1961 was repealed under Section 536 of the new Act from April 1, 2026. However, all assessments, appeals, and proceedings for periods before April 1, 2026 continue under the old ITA 1961 rules.

What is the new section number for Section 80C in Income Tax Act 2025?

Section 80C of the ITA 1961 maps to Section 123 of the Income-tax Act, 2025. Deductions for LIC premiums, PPF, ELSS, EPF, and home loan principal repayment continue under the new act.

What is the new section for TDS on professional fees (194J)?

Section 194J (TDS on professional and technical services) of the old Income Tax Act 1961 has been renumbered in the Income-tax Act, 2025. Use our free converter at ita1961to2025.in to find the exact new section number instantly.

How do I convert old income tax section numbers to new 2025 numbers?

Visit ita1961to2025.in and use the free section search tool. Type any old ITA 1961 section number (e.g., 80C, 194J, 139) and instantly see the new Income-tax Act, 2025 equivalent, its status, and key changes.

Is the ITA 1961 to 2025 mapping tool free for CAs and tax professionals?

Yes, completely free. The section mapper, comparison cheat sheet, PDF download, and Tax Academy blog are all free for Chartered Accountants, tax lawyers, law students, and taxpayers.

Which sections were completely deleted in the new Income Tax Act 2025?

Several redundant and overlapping sections from ITA 1961 were not carried into the Income-tax Act, 2025. Use our free converter — each section is marked as Retained, Modified, or Deleted so you can quickly check any section's status.

Can I download the ITA 1961 to Income-tax Act 2025 comparison as a PDF?

Yes! Visit the Comparison page at ita1961to2025.in/comparison to download a free cheat sheet PDF showing side-by-side mapping of key ITA 1961 sections to their Income-tax Act, 2025 equivalents.

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ITA 1961 → ITA 2025Capital Gains

Section 50B → Section 66

Special provision for computation of capital gains in case of slump sale

RetainedMedium - Important for M&A (Mergers and Acquisitions).

Quick Answer

Section 50B of the Income Tax Act, 1961 (Special provision for computation of capital gains in case of slump sale) corresponds to Section 66 of the Income-tax Act, 2025, effective 1st April 2026. Status: Retained.

What changed for Section 50B

Section 50B of the 1961 Act sets out the rules on special provision for computation of capital gains in case of slump sale. Capital gains calculation when an entire business undertaking is sold for a lump sum without assigning individual asset values.

Under the Income-tax Act, 2025 (effective 1st April 2026), Section 50B is retained and renumbered as Section 66 of the Income-tax Act, 2025. Retained. Net worth calculation standardized using Net Asset Value (NAV) certificates from registered valuers.

The transition impact on Section 50B is assessed as Medium. Important for M&A (Mergers and Acquisitions).

Old Law (ITA 1961)Ch: IV-E

Sec 50B

Provision Summary

Capital gains calculation when an entire business undertaking is sold for a lump sum without assigning individual asset values.

New Law (ITA 2025)Ch: VII

Sec 66

Provision Summary

Retained. Net worth calculation standardized using Net Asset Value (NAV) certificates from registered valuers.

Key Changes & Highlights

Fair Market Value (FMV) of capital assets transferred in a slump sale is strictly deemed as the full value of consideration.

Frequently Asked Questions

Which subject does Section 50B of the 1961 Act cover?

Section 50B of the Income Tax Act, 1961 covers special provision for computation of capital gains in case of slump sale. Capital gains calculation when an entire business undertaking is sold for a lump sum without assigning individual asset values.

What is the new section number for Section 50B under the Income-tax Act, 2025?

Section 50B of the Income Tax Act, 1961 maps to Section 66 of the Income-tax Act, 2025, effective 1st April 2026 (status: Retained). Retained. Net worth calculation standardized using Net Asset Value (NAV) certificates from registered valuers.

How does the Income-tax Act, 2025 affect Section 50B in practice?

The transition impact for Section 50B is rated Medium. Important for M&A (Mergers and Acquisitions).

What is new about Section 50B under the Income-tax Act, 2025?

Fair Market Value (FMV) of capital assets transferred in a slump sale is strictly deemed as the full value of consideration. These points are specific to Section 50B (Special provision for computation of capital gains in case of slump sale).

Disclaimer: This mapping of Section 50B (Special provision for computation of capital gains in case of slump sale) to Section 66 of the Income-tax Act, 2025 is for educational and reference purposes only, based on publicly available drafts and circulars. As Section 50B is currently marked Retained, always confirm its treatment with a qualified Chartered Accountant before filing or making compliance decisions.

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