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Budget 2026: Why income tax amendments will be made in the 2025 Act instead of the repealed 1961 law
If any tax policy changes are announced in Budget 2026, legislative logic dictates they will have to be made directly in the ...
From April 1, 2026, the new Income-tax law will replace ‘Assessment Year’ with ‘Tax Year’ to simplify tax filing and ...
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New Income Tax Act: No more 'assessment year' or 'previous year' - Must know changes for taxpayers, don't miss out!
A ‘tax year’ is a period of twelve months contained in a financial year. It replaces the term ‘previous year’ used in the Income-tax Act, 1961. With the discontinuance of the use of the term ...
The new legislation restructures and simplifies income-tax provisions without altering tax rates. It aims to improve ease of compliance and legal ...
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Income Tax Act 2025: 5 things that will change for taxpayers when new laws replace old rules
India's new Income Tax Act, 2025, effective April 1, 2026, aims to simplify tax rules and enhance compliance. Key changes ...
New law replaces the 1961 Act from April 1, simplifying tax provisions, cutting litigation, removing obsolete taxes, and ...
As the new Income Tax Act is set to replace the six-decade-old law from April 2026, EY has warned that unresolved legal ...
8don MSN
New Income Tax Act To Replace 1961 Law From April 1; Allows Late ITR TDS Refunds Without Penalty
The new law simplifies the tax timeline by doing away with the distinction between the assessment year and the previous year, ...
With the discontinuance of the use of the term ‘assessment year’ in the Income-tax Bill, now the term ‘tax year’ will now be ...
The Bombay High Court ruled that a special audit under Section 142(2A) cannot stand where the mandatory approval lacks a DIN. The absence of DIN renders the approval non-existent in law, making the ...
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