Explains how the new Act replaces the 1961 law, simplifies drafting, introduces the “Tax Year” concept, and aims to reduce litigation and compliance ...
Income Tax: The Union Budget 2026 introduces amendments to the Income Tax Act that simplify compliance for taxpayers. Here is a list of crucial changes for Indian taxpayers.
Finance minister Nirmala Sitharaman on Sunday, during the presentation of Union Budget 2026-27, announced that the New Income Tax Act, 2025, will come into effect from April 1, 2026, replacing the six ...