The 45th edition of this book has been thoroughly updated to incorporate the latest amendments from The Finance Act, 2024 and The Income Tax Act, 1961, along with significant direct tax updates up to June 2024, making it a comprehensive and up-to-date resource on Income Tax for the Assessment Year 2024-25. It systematically explains complex tax laws in a simplified, user-friendly, and examination-oriented manner, using clear and concise language. A key feature of this edition is the inclusion of a Section-wise Index for quick reference, along with small illustrations and examples that clarify intricate legal concepts. It also incorporates all relevant case laws, circulars, and notifications reported up to June 2024, as well as over 500 solved illustrations* from university examination questions. Covering essential aspects of Tax Planning and Management for the Assessment Year 2024-25, this book stands out from other available texts. While utmost care has been taken to ensure accuracy, the authors sincerely apologize for any inadvertent errors and welcome constructive feedback from readers.