Income Tax Act 2025: Section 324 for Tax Year 2025-26

Section 324 of the Income Tax Act 2025 states that firms assessed as firms will be taxed on total income at rates set in the Finance Act for 2025-26.

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Charge of tax in case of a firm

[As per the Income Tax Act, 2025 (this Act) w.e.f. 1st April, 2026.]

In the case of a firm which is assessable as a firm, tax shall be charged on its total income at the rate as specified in the Finance Act of the relevant year.

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Suresh Prasad is a first-class Commerce graduate, semi-qualified CA & CS, with 24+ years of experience in GST, Income Tax and Corporate Law, has written 3,800+ articles.

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