New Provision
Section 107, IT Act 2025
Replaces (IT Act 1961)
New provision
Chapter
Chapter VI — Aggregation of Income
Effective From
1 April 2026
Statutory Text — Section 107
come referred to in sections 102, 103, 104, 105 and 106 shall be charged to tax as per the provisions of section 195.
CHAPTER VII SET OFF, OR CARRY FORWARD AND SET OFF OF LOSSES Set off of losses under same head of income. 108.
Shahi & Co. — Our Understanding
This section is part of Chapter VI of the Income Tax Act, 2025, effective from 1 April 2026. It carries forward the corresponding provision from the Income Tax Act, 1961 with simplified language and restructured drafting.
Practical Note: For specific guidance on how this provision applies to your situation, consult a qualified Chartered Accountant. The Income Tax Act, 2025 retains the substance of the old law while making it more accessible.
Shahi & Co., Chartered Accountants
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Disclaimer: This is a reproduction of Section 107 of the Income Tax Act, 2025 (No. 30 of 2025) as published in the Official Gazette of India (CG-DL-E-22082025-265620) for informational and reference purposes only. Shahi & Co., Chartered Accountants makes no warranty as to completeness or accuracy. For the official authenticated text refer to
egazette.gov.in or
incometaxindia.gov.in. This does not constitute legal or tax advice.