A Landmark Overhaul of India’s Direct Tax System
India’s direct tax regime is set to undergo its most comprehensive transformation in over six decades with the enactment of the Income-tax Act, 2025, which will replace the long-standing Income-tax Act, 1961. The new legislation will come into force from April 1, 2026, and will apply to income earned from the financial year 2025–26 onwards. The reform reflects a decisive shift towards simplification, legal clarity and technology-driven tax administration.
Month: Current Affairs - Dec 26, 2025
Category: Tax Reforms