IT Act 1961 → 2025 / Sections 111–115BBG, 115JA–115JF, 115TCA–115UB
Tax rates & regimeLottery 30%, patent 10%, carbon credits 10%, life insurance 12.5% (section 194 table); MAT/AMT credit; securitisation trusts, VC, business trusts, investment funds
Sections 111–115BBG, 115JA–115JF, 115TCA–115UB of the old Income-tax Act, 1961 · new sections 191–224 under the Income-tax Act, 2025
New reference Sections 191–224 (special rates, MAT/AMT, pass-through entities)
Applies to FY 2025-26 (AY 2026-27) and earlier years.
Applies from tax year 2026-27 (from 1 April 2026).
| 1961 Act | Subject | 2025 Act |
|---|---|---|
| 111 | Tax on accumulated balance of recognised provident fund | 191 |
| 113 | Tax in the case of block assessment of search cases | 192 |
| 115B | Life insurance business — 12.5% | 194 Table S.No. 6 |
| 115BB | Lottery, crossword, races, card games, betting — 30% | 194 Table S.No. 1 |
| 115BBF | Patent royalty — 10% | 194 Table S.No. 2 |
| 115BBG | Carbon credits — 10% | 194 Table S.No. 3 |
| 115JA | Deemed income relating to certain companies | 206 |
| 115JAA | Credit for tax paid under 115JA | 206 |
| 115JD | Tax credit for alternate minimum tax | 206 |
| 115JE | AMT — application of other provisions | 206 |
| 115JEE | AMT — application to non-corporates | 206 |
| 115JF | AMT — interpretation | 206 |
| 115TCA | Tax on income from securitisation trusts | 221 |
| 115U | Tax on income in certain cases | 222 |
| 115UA | Tax on income of unit holder and business trust | 223 |
| 115UB | Tax on income of investment fund and its unit holders | 224 |
Source: CBDT mapping of sections, Income-tax Act 1961 to Income-tax Act 2025.
Consolidated: six special-rate sections become serial numbers in one table in section 194; those six rates are unchanged. MAT (section 206) was cut from 15% to 14% and its credit rules rewritten by Finance Act 2026.
30% under section 194 (Table S.No. 1) of the Income-tax Act, 2025, plus surcharge and cess, with no deduction of expenses.
Section 194 Table S.No. 2: royalty on a patent developed and registered in India taxed at 10% on option.
Section 111 of the Income-tax Act, 1961 (Tax on accumulated balance of recognised provident fund) corresponds to section 191 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
Section 113 of the Income-tax Act, 1961 (Tax in the case of block assessment of search cases) corresponds to section 192 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
Section 115B of the Income-tax Act, 1961 (Life insurance business — 12.5%) corresponds to section 194 Table S.No. 6 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
Section 115BB of the Income-tax Act, 1961 (Lottery, crossword, races, card games, betting — 30%) corresponds to section 194 Table S.No. 1 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
Section 115BBF of the Income-tax Act, 1961 (Patent royalty — 10%) corresponds to section 194 Table S.No. 2 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
Section 115BBG of the Income-tax Act, 1961 (Carbon credits — 10%) corresponds to section 194 Table S.No. 3 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
Consolidated: six special-rate sections become serial numbers in one table in section 194; those six rates are unchanged. MAT (section 206) was cut from 15% to 14% and its credit rules rewritten by Finance Act 2026.