Chaturvedi & Pithisaria's Income Tax Law (As per the Income-tax Act, 2025) – Ninth Edition, Volume 3 (Sections 11 to 26)

LexisNexis publishes the Ninth Edition of Chaturvedi & Pithisaria's Income Tax Law, the treatise that has been the standard Indian commentary on direct tax for decades, now rewritten from the ground up for the Income-tax Act, 2025. The complete work runs to eleven volumes published in two parts; this is Volume 3, covering Sections 11 to 26.

The 2025 Act, which received Presidential assent on 21 August 2025 and came into force on 1 April 2026, replaces the Income-tax Act, 1961 with 536 sections and 16 Schedules in place of the eight hundred-odd sections of the old law. Every professional who practised under the 1961 Act now has to re-learn the statute, and this edition is written for exactly that transition.

What this volume covers

This volume takes up Sections 11 to 26 of the Income-tax Act, 2025 — broadly the whole of Chapter III (Incomes not included in total income) and the opening Parts of Chapter IV (Computation of total income):

• Section 11 — the exemptions, which the 2025 Act moves out of the body of the statute and into Schedules II to VIII: agricultural income, receipts under life insurance policies, provident fund and gratuity, house rent allowance and the other classes of income excluded from total income. The reorganisation of the old Section 10 into Schedules is one of the structural changes of the new Act, and the commentary carries the reader across from the 1961 position.
• Section 12 — income of political parties, and Section 13 — the disallowance of expenditure incurred in relation to exempt income.
• Section 14 — Part A of Chapter IV, on deduction against exempt income.
• Sections 15 to 19 — Salaries: the charge, what constitutes salary, perquisites and profits in lieu of salary, and the deductions allowed from salary income.
• Sections 20 to 25 — Income from house property: annual value, deductions including interest on borrowed capital, co-ownership, property held as stock-in-trade and unrealised rent.
• Section 26 — the opening of the Part on profits and gains of business or profession, continued in Volume 4.

What the Ninth Edition contains

• The Income-tax Act, 2025 as amended by the Finance Act, 2026 and the related 2026 amendments, with the Income-tax Rules, 2026 updated to the Third Amendment Rules, 2026.
• Transition aids — cross-references between the 1961 Act and the 2025 Act, and comparison of the old and new Acts and Rules.
• Chapter introductions giving the scheme and scope of each chapter, with the related rules and allied provisions gathered in one place.
• Official material — observations of the Select Committee, CBDT FAQs on the transition, and recent notifications, circulars and orders.
• More than 1,10,000 judgments of the Supreme Court, the High Courts and select foreign courts.
• International tax and transfer pricing — with reference to the OECD Model Tax Convention (2025), the UN Model Tax Convention (2021) and India's DTAAs.
• Chapter-wise annexures carrying the corresponding DTAA articles, judgments and selected allied laws.
• Online supplement — commentary on the omitted provisions of the 1961 Act, available as a downloadable file for each volume through a QR code or URL.

About the work

Founded by K. Chaturvedi and S. M. Pithisaria, Income Tax Law is revised in this edition by Adv. M. K. Pithisaria and CA Abhishek Pithisaria. It is the commentary that tax benches, departmental officers and senior counsel have cited for a generation, and its authority rests on the exhaustiveness of its case law and the care with which each provision is traced through amendment.

Who should buy this book

• Chartered Accountants and tax practitioners computing salary, house property and business income and advising on exemptions.
• Senior counsel and advocates appearing before the Income Tax Appellate Tribunal, the High Courts and the Supreme Court.
• Income Tax Department officers — assessing officers and Commissioners (Appeals).
• Payroll, corporate tax and finance departments dealing with perquisites, allowances and withholding on salary.
• Law and commerce faculties, universities and bar libraries.

Volumes in this edition

The work runs to eleven volumes in two parts. Volumes 1 to 4 are now available: Volume 1 (Sections 1 to 9(2)), Volume 2 (Sections 9(2) contd. to 10), Volume 3 (Sections 11 to 26) and Volume 4 (Sections 27 to 63). Volumes 5 to 11 are to follow.

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