The present 45th edition of the book has been thoroughly revised in the light of the amendments made by The Income Tax Act, 1961, and The Income Tax Rules, 1962 (as amended up-to-date). Even the last-minute changes in the law have been incorporated in this revised edition of the book, and as such, it is the latest and most updated book on Income Tax for the Assessment Year 2024-25. Further, the amendments made by the Finance Act 2023 and the Finance Act 2024, applicable for the Assessment Year 2024-25, have been incorporated in the book. The present edition of the book has several unparalleled features that make it distinct from other available textbooks on income tax. A simplified, systematic approach to understanding a complex subject written in a unique, simple, and easy-to-understand language. User-friendly examination-oriented style facilitating easy comprehension of each topic. A distinctive feature of the revised edition is incorporating a Section-wise Index. The language of the book is simple and lucid. Small illustrations and examples are given for ticklish law points to make them easy and self-explanatory for students to understand the subject. All essential case laws and circulars/notifications reported up to June 2024 have been incorporated. More than 500 solved illustrations have been given in various chapters from the questions set for examinations conducted by multiple Universities; all important aspects of Tax Planning and Management for the Assessment Years 2024-25 and 2025-26 have been included in the book.