The Income Tax Act, 2025: Reshaping Tax Framework

Last updated: 05 September 2025
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This document details the Income Tax Act, 2025, which aims to modernise and simplify India's tax system. Key changes include simplifying language, introducing a 'Tax Year', and defining Virtual Digital Assets. It's designed to be more transparent, efficient, and taxpayer-friendly, replacing the older, complex Income Tax Act of 1961. This updated framework is effective from April 1, 2026, and is useful for taxpayers, tax professionals, and businesses in India.

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Submitted by · Posted 05 September 2025 · Other files by Shree · Report
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