Income-Tax Act, 2025 Becomes Effective in India
The Income-tax Act, 2025 has officially come into effect as of April 1, 2026, replacing the previous act from 1961. This reform is part of a major overhaul of India's direct tax framework, focusing on simplifying and modernizing tax laws. The act was passed by the Indian Parliament and received presidential assent in August 2025. It introduces a more reader-friendly and streamlined structure without altering existing tax policies. New rules and simplified forms have also been issued to facilitate easier compliance.
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