INCOME-TAX ACT 1961 (Syllabus: GS Paper 3 – Economy)

Get an Instant Call Back from Our Expert Mentors Now!

+91

Context: The government is undertaking a comprehensive review of the Income-Tax Act, with the exercise expected to be completed before the next Budget.

Income-Tax Act 1961

About: It is the charging statute for Income Tax in India, detailing the levy, administration, collection, and recovery of income tax.
Enforcement: 1962
Introduction of Direct Taxes Code: The Government of India proposed the "Direct Taxes Code" to replace both the Income Tax Act, 1961, and the Wealth Tax Act, 1957.
Purpose: The Act outlines all taxation-related processes, including levy, collection, administration, and recovery of income tax.
Consolidation and Amendment: The primary goal of the Act is to consolidate and amend taxation rules in the country.
Detailed Sections: The Income Tax Act contains numerous sections addressing various aspects of taxation in India.

Impact of the Direct Tax Code, 2009

Simplification and Alignment: The Direct Tax Code (DTC) aimed to simplify and streamline the direct tax system, aligning with international practices on emerging issues.
Incorporation into the Income Tax Act: Many provisions from the DTC, such as Place of Effective Management (POEM) and general anti-avoidance rules, have been incorporated into the Income Tax Act.

Global Tax Avoidance Rules

Purpose of Global Reforms: Global tax reforms aim to address tax avoidance through artificial structures and benefit all countries, including India.
Key Components: The reforms include taxation of the digital economy via the redistribution of tax rights and jurisdictional minimum tax rates, outlined in BEPS Pillars 1 and 2.
Concerns of Inequality: There is concern that these reforms might disproportionately benefit developed economies.
Call for Equitable Rules: There is a push for developing international tax rules under the UN rather than the OECD, with India expected to advocate for a fairer framework as a significant voice of the Global South.

UPSC QEP 2026 Batch 5 - English

Buy now View Details

Submit Your Details to Learn More

NEEV GS + CSAT Foundation 2026/27

Buy now View Details

Our Popular Courses

UPSC Prelims Foundation Course (GS + CSAT)

UPSC Mains PYQ Solved

UPSC Mains Answer writing Course

UPSC Mains test Series 2026

Library

UPPSC Prelims Crash Course 2025 - NISCHAY

UPPSC Mains Course 2025

UPPSC Mains Course in Hindi

Best IAS Coaching In Delhi, UPSC Online & Offline Classes by IAShub

Are you dreaming of becoming an IAS officer? Then, IAShub can be your best guide. It is one of the Best IAS Coaching in Delhi. Many students who want to clear the UPSC exam join IAShub for learning. The institute gives both online and offline classes. Their teachers are experienced and helpful. They easily explain every topic. Students also get notes, tests, and tips to do well in the exam.

UPSC Online Classes by IAShub

IAShub is in Delhi and is trusted by many UPSC students. It offers coaching for every part of the UPSC exam – Prelims, Mains, and Interview. The classes are simple and easy to understand. The teachers are experts and guide students in the right way. IAShub is also known for its helpful notes, test series, and answer-writing practice. IAShub is the best coaching in Delhi and also gives UPSC Online Classes. This helps students from any place in India to learn. The online classes are live and also recorded. So, students can watch them anytime. These classes cover the full UPSC syllabus.

Key Offerings Provided by IAShub

Here are some important services provided by IAShub:

UPSC Prelims: IAShub teaches for Prelims with a focus on basics. It also gives daily current affairs and monthly magazines.
Classroom Courses: IAShub has classroom learning for students in Delhi. The environment is good and peaceful for study.
Live Classes: Students who live far can join live UPSC online classes. These classes are just like real classes.
QEP for Mains: The Quality Enrichment Program (QEP) is special for Mains preparation. It helps students write better and faster.
Answer Writing: Regular answer writing practice is given. Teachers also check answers and give tips to improve.
Free Resource: IAShub gives free notes by toppers and helpful Main Booster material.
Test Series: Test series are available for every subject. These help students know their weak points and improve.
Interview Guidance Session: IAShub also gives interview practice sessions with experts. These help students feel confident.

UPSC Exam Overview

The UPSC Civil Services Exam has three parts:

Prelims: It has two papers: General Studies and CSAT.
Mains: It has nine papers, including essays and optional subjects.
Interview: It tests the personality and confidence of the student.

This exam is tough, but with the right guidance, it becomes easy to manage. Students must study smart and stay regular.

How IAShub Helps in the UPSC Journey

IAShub supports students from the beginning to the end. It gives the right books, tests, and notes. The classes are easy to follow, and the teachers are always ready to help. Students get personal doubt sessions too. The test series and answer checking help students learn where they need to do better. Also, free study materials save time and money.
IAShub also guides students during the final stage – the interview. Experts take mock interviews and give useful tips. This full support makes IAShub one of the best IAS coaching in Delhi.

Best IAS Coaching In Delhi FAQs

Yes, IAShub offers live and recorded online classes. Students can attend from any part of India.

Classes are available in both English and Hindi, so students can choose the language they are comfortable with.

The classroom centre is located in Delhi. Students can visit and join offline batches there.

IAShub gives interview guidance sessions to help students prepare for the final round of UPSC.