April 1st Brings New Income Tax Act 2025: 10 Major Changes Impacting Your Finances
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New Income Tax Act 2025: 10 Key Changes Affecting Your Money From April 1, 2026
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News18•15-03-2026, 16:17
New Income Tax Act 2025: 10 Key Changes Affecting Your Money From April 1, 2026
•New Income Tax Act, 2025 replaces 1961 Act from April 1, 2026, simplifying tax framework with fewer rules and forms.
•PAN mandatory for annual cash deposits/withdrawals over Rs 10 lakh, vehicle purchases over Rs 5 lakh (incl. two-wheelers), and all insurance premiums.
•HRA benefits expanded: Bengaluru, Pune, Ahmedabad, Hyderabad now metro cities, increasing exemption to 50% of basic salary.
•Property transaction PAN threshold raised to Rs 20 lakh; higher tax-free limits for employer-provided perquisites.
•Crypto exchanges face wider reporting; CBDC recognized as valid electronic payment mode.
