Everything You Need to Know About the Income Tax Act 2025
The government of India has introduced the long-anticipated Income Tax Act 2025, aiming to simplify and modernize the nation\'s direct taxation system. Presented in Parliament on February 13, 2025, the new law is set to replace the outdated Income Tax Act, 1961. This fresh legislation reflects a significant shift in the way taxes will be calculated and reported starting April 1, 2026.