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The Income Tax Act 1961 was repealed under Section 536 of the new Act from April 1, 2026.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 2025Set off and Carry Forward

Section 70 → Section 90

Set off of loss from one source against income from another source under the same head of income

RetainedHigh - Fundamental to calculating Gross Total Income.

Quick Answer

Section 70 of the Income Tax Act, 1961 (Set off of loss from one source against income from another source under the same head of income) corresponds to Section 90 of the Income-tax Act, 2025, effective 1st April 2026. Status: Retained.

What changed for Section 70

Under the Income Tax Act, 1961, Section 70 governs set off of loss from one source against income from another source under the same head of income. Allows intra-head set off. E.g., loss from Business A can be set off against profit from Business B.

From 1st April 2026, the same subject sits at Section 90 of the Income-tax Act, 2025 — retained and renumbered as Section 90 of the Income-tax Act, 2025. Retained. Rules regarding Speculative Business and Specified Business losses being ring-fenced remain strictly in place.

For Section 70, the practical impact is rated High. Fundamental to calculating Gross Total Income.

Old Law (ITA 1961)Ch: VI

Sec 70

Provision Summary

Allows intra-head set off. E.g., loss from Business A can be set off against profit from Business B.

New Law (ITA 2025)Ch: X

Sec 90

Provision Summary

Retained. Rules regarding Speculative Business and Specified Business losses being ring-fenced remain strictly in place.

Key Changes & Highlights

Virtual Digital Assets (VDA) losses strictly prohibited from any kind of set-off, even intra-head.

Related Sections

Section 71

Frequently Asked Questions

What is Section 70 of the Income Tax Act, 1961 about?

Section 70 of the Income Tax Act, 1961 covers set off of loss from one source against income from another source under the same head of income. Allows intra-head set off. E.g., loss from Business A can be set off against profit from Business B.

Which section replaces Section 70 in the Income-tax Act, 2025?

Section 70 of the Income Tax Act, 1961 maps to Section 90 of the Income-tax Act, 2025, effective 1st April 2026 (status: Retained). Retained. Rules regarding Speculative Business and Specified Business losses being ring-fenced remain strictly in place.

What is the impact of the change to Section 70 under the new tax code?

The transition impact for Section 70 is rated High. Fundamental to calculating Gross Total Income.

What should I watch out for when Section 70 moves to the 2025 code?

Virtual Digital Assets (VDA) losses strictly prohibited from any kind of set-off, even intra-head. These points are specific to Section 70 (Set off of loss from one source against income from another source under the same head of income).

Disclaimer: This mapping of Section 70 (Set off of loss from one source against income from another source under the same head of income) to Section 90 of the Income-tax Act, 2025 is for educational and reference purposes only, based on publicly available drafts and circulars. As Section 70 is currently marked Retained, always confirm its treatment with a qualified Chartered Accountant before filing or making compliance decisions.

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