India's New Income Tax Act 2025: Simpler, Clearer, Modern from April 1
Business
N
News18•12-01-2026, 14:22
India's New Income Tax Act 2025: Simpler, Clearer, Modern from April 1
- •India to implement the new Income Tax Act 2025 from April 1, 2026, replacing the 1961 Act.
- •The new law aims for simplicity, clarity, and immediate applicability, reducing sections by 50% to ease taxpayer understanding.
- •Tax rates, personal taxes, and provisional taxes will not change; focus is on language simplification and litigation reduction.
- •Key structural changes include replacing 'previous year' and 'assessment year' with a single 'tax year' concept.
- •TDS refunds can now be claimed even if returns are filed after the due date without penalty, a significant relief for late filers.
Why It Matters: India's new Income Tax Act 2025, effective April 1, 2026, simplifies tax compliance and reduces litigation.
✦
More like this
Loading more articles...
