Old vs New Income Tax Act: The Section Number Cheat Sheet
Tax Planning Writer
If you've filed an Indian tax return before, certain numbers are probably burned into your memory — 80C, 24(b), 111A, 44AB. From April 1, 2026, none of them exist anymore. The Income Tax Act, 2025 replaced the Income Tax Act, 1961, and as part of that overhaul, nearly every section got a new number.
The good news: the actual rules, limits, and rates behind these sections are almost entirely unchanged. This is a renumbering exercise, not a policy overhaul. But that doesn't help much when you're staring at "Section 123" on a form and trying to remember what it used to be called. This page is that lookup.
Deductions & Exemptions
| What it covers | Old section (1961) | New section (2025) | Limit/rate |
|---|---|---|---|
| Tax-saving investments (PPF, ELSS, LIC, tuition fees) | 80C | 123 | ₹1.5 lakh (unchanged) |
| NPS additional deduction | 80CCD(1B) | 124 | Additional ₹50,000 (unchanged) |
| Health insurance premium | 80D | 126 | ₹25,000 / ₹50,000 senior citizens (unchanged) |
| All exempt incomes (HRA, gratuity, leave encashment, etc.) | Section 10 | Schedule II | Moved out of main sections into a schedule |
| Rebate for income below threshold | 87A | 156 (Clause 156) | ₹60,000 (new regime) / ₹12,500 (old regime) — unchanged |
Capital Gains
| What it covers | Old section (1961) | New section (2025) | Rate |
|---|---|---|---|
| Charging provision for capital gains | 45 | 67 | — |
| STCG on listed equity/equity MFs | 111A | 196 | 20% (unchanged) |
| LTCG on other capital assets | 112 | 197 | Varies by asset |
| LTCG on listed equity/equity MFs | 112A | 198 | 12.5% above ₹1.25 lakh (unchanged) |
| Reinvestment exemptions (property, capital gains account, etc.) | 54 series | 85–88 | Conditions unchanged |
Business, Trading & Presumptive Taxation
| What it covers | Old section (1961) | New section (2025) | Notes |
|---|---|---|---|
| Speculative transaction definition (F&O classification) | 43(5) | 66 | F&O remains non-speculative business income |
| Presumptive taxation — small business | 44AD | 58 (business sub-clause) | 8%/6% of turnover (unchanged) |
| Presumptive taxation — professionals | 44ADA | 58 (profession sub-clause) | 50% of gross receipts (unchanged) |
| Presumptive taxation — goods transport | 44AE | 58 (transport sub-clause) | Fixed per-vehicle rate (unchanged) |
| Tax audit requirement | 44AB | 63 | ₹10 crore threshold (unchanged) |
| New tax regime (default) | 115BAC | 202 | Same slab structure |
Filing, TDS & Compliance
| What it covers | Old section (1961) | New section (2025) | Notes |
|---|---|---|---|
| Return of income / filing provisions | 139 | 263 | ITR-U window extended to 48 months |
| TDS on salary | 192 | 392 | Reported via Form 138 (was Form 24Q) |
| TDS on other payments (contractors, professionals, rent, commission) | 194 series | 393 | Consolidated using payment-type codes instead of separate sections |
Forms That Also Changed Names
Form 16 → Form 130. The annual TDS certificate salaried employees get from their employer.
Form 24Q → Form 138. The quarterly salary TDS return employers file.
What This Means Practically
A few things worth internalizing about this renumbering:
Old section codes stop working for new filings. From Tax Year 2026-27 onward (returns filed in July 2027), the tax portal expects new section references — old codes get rejected by CPC for that filing cycle.
Your FY 2025-26 return still uses old numbers. If you're filing in July 2026 for income earned before April 1, 2026, you're still under the 1961 Act — the new numbering only applies to income earned from April 1, 2026 onward.
Nothing about your tax bill changes because of renumbering alone. Every limit, rate, and threshold in the tables above carried forward exactly as it was. Treat this as a find-and-replace exercise on your own mental notes, not a reason to re-plan your taxes.
Frequently Asked Questions
Do I need to use the new section numbers on my next ITR filing?
Depends on the year. For FY 2025-26 income (filed July 2026), you still use old 1961 Act section numbers. New numbers apply from Tax Year 2026-27 filings onward.
Did any deduction limits change along with the section numbers?
No — every limit listed above (₹1.5 lakh under Section 123, ₹25,000/₹50,000 under Section 126, etc.) is identical to its old-Act equivalent. Only the citation changed.
Why did the government renumber the entire Act instead of just amending it?
The 1961 Act had been amended repeatedly over six decades, leading to overlapping provisions and inconsistent structure. The 2025 Act is a full re-codification meant to simplify language and reduce interpretation disputes, not a policy change.
Where can I find the mapping for a section not listed here?
This cheat sheet covers the sections most taxpayers actually encounter. For a comprehensive breakdown by taxpayer type, see our detailed guides linked below.
Want the full picture of what changed and why? Start with What Changed in the New Income Tax Act 2025, or jump straight to how it affects you: Salaried Individuals, Investors & Traders, or Business Owners & Professionals.