New Provision
Section 158, IT Act 2025
Replaces (IT Act 1961)
89A
Chapter
Chapter IX — Rebate and Relief
Effective From
1 April 2026
Statutory Text — Section 158
(1) The income accrued to a specified person in a specified account shall be taxed in such manner and in such tax year, as may be prescribed. (2) For the purposes of this section,— (a) “notified country” means a country as may be notified by the Central Government; (b) “specified account” means an account maintained in a notified country by the specified person for his retirement benefits, the income from which is taxed by that notified country at the time of withdrawal or redemption and, not on accrual basis; (c) “specified person” means a person resident in India having opened a specified account in a notified country while being non-resident in India and resident in that country. B. —Double taxation relief
Shahi & Co. — Our Understanding
This section is part of Chapter IX 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 158 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.