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Simplified Income Tax Rules Launched Alongside New Act
New Delhi, April 1 India's direct tax system entered a new phase on April 1, 2026, as the Income Tax Act, 2025 officially came into effect.The Income Tax Department announced the rollout through a message on X, calling it a step towards a simpler and more user-friendly tax framework aligned... - H
Budget 2026-27: Key Tax Updates for Investors & Businesses
New Delhi, March 31 The new income tax law and other budgetary provisions, including a higher Securities Transaction Tax (STT) on F&O trading and a lower TCS on overseas tour packages and LRS remittances for medical and educational purposes, will come into effect from April 1.Also, the Budget...- Himanshu
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- Forum: Business
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Tax Law Overhaul: Key Changes for FY27 Including HRA and Derivatives
New Delhi, March 31 As India approaches the new fiscal year FY27, the country’s direct tax system is set for a major overhaul from April 1, 2026, with the new Income Tax Act, 2025, coming into force – replacing the six-decade-old 1961 legislation and introducing changes in compliance...- Himanshu
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- Forum: Business
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Transitioning to New Tax Act: E-Filing Portal Remains Compatible
New Delhi, March 23 The Income Tax department on Monday said its e-filing portal will facilitate compliance under the old and Income Tax Acts, and all assessments, appeals, and other proceedings relating to earlier years will continue to be conducted under the old Act until their final... - H
India to Implement New Income Tax Act in Phased Approach
New Delhi – India will implement the new Income Tax Act, 2025, starting April 1, 2026, but taxpayers will not need to file returns for the current financial year. Returns can be prepared and filed under the existing Income Tax Act, 1961, officials and tax experts confirmed. This approach ensures...