Čitam novi zakon.

Čitam is the 1st person singular present tense form of čitati.

So:

• čitati = to read
• čitam = I read / I am reading

The ending -am here tells you the subject is I.

Because Serbian often omits subject pronouns when they are already clear from the verb form.

• Čitam novi zakon. = I am reading a new law / the new law
• Ja čitam novi zakon. = also possible, but ja adds emphasis, like I am reading...

Since čitam already means I read, the pronoun is usually unnecessary.

It can mean both, depending on context.

Serbian present tense often covers both:

• I read (habitually / in general)
• I am reading (right now)

So Čitam novi zakon could mean:

• I’m reading a new law right now, or
• I read a new law as a general statement, if the context supports that.

If you need to make the “right now” meaning clearer, context usually does that.

Zakon is the direct object of the verb čitati, so it should be in the accusative case.

However, for many masculine inanimate nouns, the accusative singular is the same as the nominative singular.

So:

• nominative: zakon
• accusative: zakon

That is why you see Čitam novi zakon, not a different form of zakon.

Because adjectives in Serbian must agree with the noun they describe in:

• gender
• number
• case

Here, zakon is:

• masculine
• singular
• accusative (as the direct object)

Since zakon is masculine singular inanimate, the adjective takes the matching form novi.

So:

• novi zakon = new law

A useful comparison:

• Vidim novog čoveka. = I see a new man
  Here čovek is masculine animate, so the accusative changes differently.

In modern standard Serbian, novi zakon is the normal form before a noun.

You may also encounter nov in some contexts, especially:

• in predicate position: Zakon je nov. = The law is new
• in more stylistic or literary usage

For a learner, the safe and natural choice is:

• novi zakon

Because Serbian does not have articles like English a/an/the.

So novi zakon can mean:

• a new law
• the new law

The exact meaning depends on context.

This is very common in Serbian, and learners usually have to get used to understanding definiteness from the situation rather than from a separate word.

Yes. Serbian word order is fairly flexible, because case endings and verb forms carry a lot of grammatical information.

The neutral order here is:

• Čitam novi zakon.

But you could also hear:

• Novi zakon čitam.
  This puts more focus on novi zakon.
• Ja čitam novi zakon.
  This emphasizes I.

So the basic meaning stays similar, but the focus or emphasis changes.

Čitati is an imperfective verb.

That means it is used for actions seen as:

• ongoing
• repeated
• habitual
• not focused on completion

So Čitam novi zakon presents the action as in progress or simply as an activity.

The usual perfective partner is pročitati:

• Čitam novi zakon. = I am reading a new law / I read a new law
• Pročitaću novi zakon. = I will read through / finish reading the new law

A present-tense perfective form in Serbian usually does not mean a normal present action, so čitati is the natural choice here.

A rough English-style guide is:

• Čitam ≈ CHEE-tam
• novi ≈ NO-vee
• zakon ≈ ZAH-kon

A few helpful notes:

• č is like ch in chocolate, but usually a bit firmer
• Serbian spelling is very phonetic, so words are usually pronounced close to how they are written
• Stress is not normally written in everyday Serbian spelling

So the whole sentence sounds roughly like:

CHEE-tam NO-vee ZAH-kon

The dictionary forms are:

• čitati = to read
• novi = new
• zakon = law

In the sentence:

• čitam is a conjugated verb form from čitati
• novi is the agreeing adjective form
• zakon is the noun in a form that looks the same as the nominative

This is a good example of how Serbian sentences are built from dictionary forms plus endings and agreement.