Income Tax Act 2025: Key Highlights, Applicability & PDF Download

Income Tax Act 2025: Key Highlights, Applicability & PDF Download Income Tax Act 2025: Simplified Provisions, Tax Reforms & Key Highlights The Income Tax Act 2025 was officially presented in Parliament on February 13, 2025, aiming to overhaul and modernize India’s outdated tax structure. This long-anticipated bill proposes a simplified and streamlined approach to direct taxation. A dedicated committee has been tasked with reviewing the bill and presenting its final recommendations by the Monsoon Session. Let’s explore the key provisions, effective dates, and the objectives of this new legislation. Implementation Timeline and Applicability A common concern for both taxpayers and students is the effective date of the Income Tax Act 2025 . According to official sources, the new law will come into effect from April 1, 2026 , making FY 2026-27 the first tax year under the updated framework. This timeline allows ample preparation time for individuals, businesses, and pro...