Income Tax Act 2025 Is Live: What Actually Changed

The Income Tax Act 2025 took effect April 1, 2026, repealing the 1961 Act after 65 years.

'Tax Year' now replaces both 'previous year' and 'assessment year' — one term, less confusion.

The return you file in 2026 (for FY 2025-26) still runs on the OLD 1961 Act.

Sections are renumbered top to bottom: 80C is now 123, return-filing 139 is now 263.

PAN, TAN, faceless assessment and slabs are unchanged — this is a rewrite, not a tax hike.

Read the full story on GeneralNews Read full article →