Sansad Tv
The Parliament has passed the Income-Tax Bill, 2025 and the Taxation Laws (Amendment) Bill, 2025. The Income Tax Act, 2025, has been published in the Official Gazette after it received the President’s assent. According to the Gazette, the Act consolidates and revises the law relating to income tax. The new law will come into force from 1st of April 2026. The Income Tax department has said that this landmark reform, replacing the Income Tax Act of 1961 ushers in a simpler, transparent and compliance-friendly direct tax regime.
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