Section 7 → Section 7
Income deemed to be received
Quick Answer
Section 7 of the Income Tax Act, 1961 (Income deemed to be received) corresponds to Section 7 of the Income-tax Act, 2025, effective 1st April 2026. Status: Retained.
What changed for Section 7
Under the Income Tax Act, 1961, Section 7 governs income deemed to be received. Statutory provident fund contributions and recognized PF contributions are deemed to be received by the employee.
Under the Income-tax Act, 2025 (effective 1st April 2026), Section 7 is retained and renumbered as Section 7 of the Income-tax Act, 2025. Retained. Aligned with updated labour codes and EPF limits.
The transition impact on Section 7 is assessed as Medium. Affects high-salary earners' PF taxation.
Sec 7
Provision Summary
Statutory provident fund contributions and recognized PF contributions are deemed to be received by the employee.
Sec 7
Provision Summary
Retained. Aligned with updated labour codes and EPF limits.
Key Changes & Highlights
- Interest above specified PF contribution limits explicitly mapped here.
Related Sections
Frequently Asked Questions
Which subject does Section 7 of the 1961 Act cover?
Section 7 of the Income Tax Act, 1961 covers income deemed to be received. Statutory provident fund contributions and recognized PF contributions are deemed to be received by the employee.
What is the new section number for Section 7 under the Income-tax Act, 2025?
Section 7 of the Income Tax Act, 1961 maps to Section 7 of the Income-tax Act, 2025, effective 1st April 2026 (status: Retained). Retained. Aligned with updated labour codes and EPF limits.
How does the Income-tax Act, 2025 affect Section 7 in practice?
The transition impact for Section 7 is rated Medium. Affects high-salary earners' PF taxation.
What is new about Section 7 under the Income-tax Act, 2025?
Interest above specified PF contribution limits explicitly mapped here. These points are specific to Section 7 (Income deemed to be received).
Disclaimer: This mapping of Section 7 (Income deemed to be received) to Section 7 of the Income-tax Act, 2025 is for educational and reference purposes only, based on publicly available drafts and circulars. As Section 7 is currently marked Retained, always confirm its treatment with a qualified Chartered Accountant before filing or making compliance decisions.
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