Relief or Burden: What Every Taxpayer Should Know About the New Income Tax Act, 2025

Affluence Advisory | Last updated: 08 October 2025

Save Share

Quick Summary

The Income Tax Act, 1961, has been significantly reformed with the introduction of the New Income Tax Act, 2025, effective from 1st April 2026. This updated legislation aims to simplify legal language, reduce the number of sections, and introduce a unified 'Tax Year'. Key changes include new tax slabs, increased standard deductions for salaried individuals, and a flat 30% tax on virtual digital assets. The new regime will be the default, though taxpayers can opt for the old one.

The Income Tax Act, 1961, regulates income taxation in India. Existing for over six decades, the act has been regulating various phases of the Indian economy. Over the years, the government has improved its efficiency by issuing multiple amendments and changes to the Finance Act annually, among othe

Daily Limit Reached

You have reached your daily limit of 2 Free Articles

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?

No Ads
WhatsApp Community
Daily E-Newsletter
Unlimited Articles Access
Profile Visitors
Link Social Profiles
Featured Job Posts
Pro Badge
Expert GST Guidance
Unlimited Forum Replies
Download Content in PDF

BEST VALUE

2 YEAR PLAN

3,499

(Excl. of GST ₹629)

1 YEAR PLAN

1,999

(Excl. of GST ₹359)

3 MONTHS PLAN

999

(Excl of GST ₹179)

View all CCI PRO benfits

Already a PRO member? Login here for an ad-free experience.

618 Views Comment Share Income Tax Report

About the Author

Affluence Advisory

corporates

Why Affluence Advisory for any Tax Compliance services? Affluence Advisory Pvt Ltdis a multi-disciplinary consulting and compliance firm that is managed by a specialized team of Chartered Accountants, Company Secretaries, Corporate Lawyers, and Other Professionals who are committed to providing a quality experience ... Read more

View Articles

Comments :