Section 2 Definition Terms – Income-tax Act 2025 vs 1961
Section 2 – Definitions Mapping (Income-tax Act, 2025 vs 1961)
This table provides a complete mapping of definitions under Section 2 of the Income-tax Act, 2025 with corresponding clauses under the Income-tax Act, 1961, helping readers quickly identify changes, continuity, and structural differences between the two Acts.
Short Answer: Section 2 defines key terms used across the Income-tax Act, 2025. This table compares these definitions with the Income-tax Act, 1961 along with their clause numbers.
| S. No. | 2025 Term | 2025 Clause | 1961 Term | 1961 Clause |
|---|---|---|---|---|
| Accountant | 2(1) | — | — | |
| Additional Commissioner | 2(2) | Additional Commissioner | 2(1C) | |
| Additional Director | 2(3) | Additional Director | 2(1D) | |
| Advance tax | 2(4) | Advance tax | 2(1) | |
| Agricultural income | 2(5) | Agricultural income | 2(1A) | |
| Amalgamation | 2(6) | Amalgamation | 2(1B) | |
| Annual value | 2(7) | Annual value | 2(2) | |
| Appellate Tribunal | 2(8) | Appellate Tribunal | 2(4) | |
| Approved gratuity fund | 2(9) | Approved gratuity fund | 2(5) | |
| Approved superannuation fund | 2(10) | Approved superannuation fund | 2(6) | |
| Assessee | 2(11) | Assessee | 2(7) | |
| Assessing Officer | 2(12) | Assessing Officer | 2(7A) | |
| Assessment | 2(13) | Assessment | 2(8) | |
| Assistant Commissioner | 2(14) | Assistant Commissioner | 2(9A) | |
| Assistant Director | 2(15) | Assistant Director | 2(9B) | |
| Average rate of income-tax | 2(16) | Average rate of income-tax | 2(10) | |
| Block of assets | 2(17) | Block of assets | 2(11) | |
| Board | 2(18) | Board | 2(12) | |
| Books or books of account | 2(19) | Books or books of account | 2(12A) | |
| Business | 2(20) | Business | 2(13) | |
| Business trust | 2(21) | Business trust | 2(13A) | |
| Capital asset | 2(22) | Capital asset | 2(14) | |
| Foreign Institutional Investor | 2(22)(c)(iv)(A) | Foreign Institutional Investor | 2(14)(a) | |
| Personal effects | 2(22)(c)(iv)(B) | — | — | |
| Population | 2(22)(c)(iv)(C) | — | — | |
| Property | 2(22)(c)(iv)(D) | — | — | |
| Securities | 2(22)(c)(iv)(E) | Securities | 2(14)(b) | |
| Charitable purpose | 2(23) | Charitable purpose | 2(15) | |
| Chief Commissioner | 2(24) | Chief Commissioner | 2(15A) | |
| Child | 2(25) | Child | 2(15B) | |
| Commissioner | 2(26) | Commissioner | 2(16) | |
| Commissioner (Appeals) | 2(27) | Commissioner (Appeals) | 2(16A) | |
| Company | 2(28) | Company | 2(17) | |
| Company in which the public are substantially interested | 2(29) | Company in which the public are substantially interested | 2(18) | |
| Convertible foreign exchange | 2(30) | — | — | |
| Co-operative bank | 2(31) | — | — | |
| Co-operative society | 2(32) | Co-operative society | 2(19) | |
| Currency | 2(33) | Currency | 2(47A)(b) | |
| Demerged company | 2(34) | Demerged company | 2(19AAA) | |
| Demerger | 2(35) | Demerger | 2(19AA) | |
| Undertaking | 2(35)(i) | Undertaking | 2(19AA) Expln 1 | |
| Liabilities relatable to the undertaking | 2(35)(ii) | — | — | |
| Deputy Commissioner | 2(36) | Deputy Commissioner | 2(19A) | |
| Deputy Director | 2(37) | Deputy Director | 2(19C) | |
| Director and manager | 2(38) | Director, manager and managing agent | 2(20) | |
| Director General or Director | 2(39) | Director General or Director | 2(21) | |
| Dividend | 2(40) | Dividend | 2(22) | |
| Accumulated profits | 2(40)(A) | Accumulated profits | 2(22) Expln 1 | |
| Concern | 2(40)(C) | Concern | 2(22) Expln 3(a) | |
| Finance Company and Finance Unit | 2(40)(E)(I) | Finance Company and Finance Unit | 2(22) Expln 3(c) | |
| Group entity | 2(40)(E)(II) | Group entity | 2(22) Expln 3(d) | |
| Parent entity or principal entity | 2(40)(E)(III) | Parent entity or principal entity | 2(22) Expln 3(d) | |
| Document | 2(41) | Document | 2(22AA) | |
| Domestic company | 2(42) | Domestic company | 2(22A) | |
| Electoral trust | 2(43) | Electoral trust | 2(22AAA) | |
| Fair market value | 2(44) | Fair market value | 2(22B) | |
| Firm | 2(45) | Firm | 2(23)(i) | |
| Foreign company | 2(46) | Foreign company | 2(23A) | |
| Foreign currency | 2(47) | Foreign currency | 2(47A)(b) | |
| Hearing | 2(48) | Hearing | 2(23C) | |
| Income | 2(49) | Income | 2(24) | |
| Card game and other game of any sort | 2(49)(A) | Card game and other game of any sort | 2(24)(ix)(ii) | |
| Keyman insurance policy | 2(49)(B) | Keyman insurance policy | 2(24)(xi) | |
| Lottery | 2(49)(C) | Lottery | 2(24)(ix)(i) | |
| Income Computation and Disclosure Standards | 2(50) | — | — | |
| Income-tax Officer | 2(51) | Income-tax Officer | 2(25) | |
| India | 2(52) | India | 2(25A) | |
| Indian company | 2(53) | Indian company | 2(26) | |
| Indian currency | 2(54) | Indian currency | 2(47A)(b) | |
| Infrastructure capital company | 2(55) | Infrastructure capital company | 2(26A) | |
| Infrastructure capital fund | 2(56) | Infrastructure capital fund | 2(26B) | |
| Inspector of Income-tax | 2(57) | Inspector of Income-tax | 2(28) | |
| Insurer | 2(58) | Insurer | 2(28BB) | |
| Interest | 2(59) | Interest | 2(28A) | |
| Interest on securities | 2(60) | Interest on securities | 2(28B) | |
| International Financial Services Centre | 2(61) | — | — | |
| Joint Commissioner | 2(62) | Joint Commissioner | 2(28C) | |
| Joint Commissioner (Appeals) | 2(63) | Joint Commissioner (Appeals) | 2(28CA) | |
| Joint Director | 2(64) | Joint Director | 2(28D) | |
| Legal representative | 2(65) | Legal representative | 2(29) | |
| Liable to tax | 2(66) | Liable to tax | 2(29A) | |
| Long-term capital asset | 2(67) | Long-term capital asset | 2(29AA) | |
| Long-term capital gain | 2(68) | Long-term capital gain | 2(29B) | |
| Manufacture | 2(69) | Manufacture | 2(29BA) | |
| Maximum marginal rate | 2(70) | Maximum marginal rate | 2(29C) | |
| Non-banking financial company | 2(71) | — | — | |
| Non-resident | 2(72) | Non-resident | 2(30) | |
| Notification | 2(73) | — | — | |
| Partner | 2(74) | Partner | 2(23)(ii) | |
| Partnership | 2(75) | Partnership | 2(23)(iii) | |
| Permanent Account Number (PAN) | 2(76) | — | — | |
| Person | 2(77) | Person | 2(31) | |
| Person of Indian origin | 2(78) | — | — | |
| Person who has a substantial interest in the company | 2(79) | Person who has a substantial interest in the company | 2(32) | |
| Prescribed | 2(80) | Prescribed | 2(33) | |
| Principal Chief Commissioner | 2(81) | Principal Chief Commissioner of Income-tax | 2(34A) | |
| Principal Commissioner | 2(82) | Principal Commissioner of Income-tax | 2(34B) | |
| Principal Director | 2(83) | Principal Director of Income-tax | 2(34C) | |
| Principal Director General | 2(84) | Principal Director General of Income-tax | 2(34D) | |
| Principal officer | 2(85) | Principal officer | 2(35) | |
| Profession | 2(86) | Profession | 2(36) | |
| Public sector bank | 2(87) | — | — | |
| Public sector company | 2(88) | Public sector company | 2(36A) | |
| Public servant | 2(89) | Public servant | 2(37) | |
| Rate or rates in force or rates in force | 2(90) | Rate or rates in force or rates in force | 2(37A) | |
| Recognised provident fund | 2(91) | Recognised provident fund | 2(38) | |
| Recognised stock exchange | 2(92) | — | — | |
| Regular assessment | 2(93) | Regular assessment | 2(40) | |
| Relative | 2(94) | Relative | 2(41) | |
| Reserve Bank of India | 2(95) | — | — | |
| Resident | 2(96) | Resident | 2(42) | |
| Resulting company | 2(97) | Resulting company | 2(41A) | |
| Scheduled bank | 2(98) | Scheduled bank | 2(48) Expln 1 | |
| Securities and Exchange Board of India | 2(99) | — | — | |
| Senior citizen | 2(100) | — | — | |
| Short-term capital asset | 2(101)(a) | Short-term capital asset | 2(42A) | |
| Capital asset | 2(101)(b) | Capital asset | 2(14) | |
| Equity oriented fund | 2(101)(c)(D)(A) | — | — | |
| Security | 2(101)(c)(D)(B) | — | — | |
| Specified security | 2(101)(c)(D)(C) | — | — | |
| Sweat equity shares | 2(101)(c)(D)(D) | — | — | |
| Short-term capital gain | 2(102) | Short-term capital gain | 2(42B) | |
| Slump sale | 2(103)(a) | Slump sale | 2(42C) | |
| Undertaking | 2(103)(b)(i) | Undertaking | 2(19AA) Expln 1 | |
| Special Economic Zone | 2(104) | — | — | |
| Stamp duty value | 2(105) | — | — | |
| Tax | 2(106) | Tax | 2(43) | |
| Tax Recovery Officer | 2(107) | Tax Recovery Officer | 2(44) | |
| Total income | 2(108) | Total income | 2(45) | |
| Transfer | 2(109) | Transfer | 2(47) | |
| Immovable property | 2(109)(h) | — | — | |
| Valuation Officer | 2(110) | — | — | |
| Virtual digital asset | 2(111) | Virtual digital asset | 2(47A) | |
| Non-fungible token | 2(111)(i) | Non-fungible token | 2(47A)(a) | |
| Zero coupon bond | 2(112) | Zero coupon bond | 2(48) | |
| Infrastructure debt fund | 2(112)(c) | Infrastructure debt fund | 2(48) Expln 2 |
Note
“—” indicates that no clearly identical matching term was found in the 1961 list provided. Detailed comparison of each definition will be covered in separate articles.
What Changed in Section 2?
The detailed changes in Section 2 will be updated progressively after individual definition comparisons are completed. At this stage, this page serves as a clause-wise mapping index of defined terms.
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