Taxpayers filing returns in 2026 will use the old Income Tax Act, 1961. The new Income-tax Act, 2025, takes effect from April 1, 2026, for income earned in FY 2026-27. The new law simplifies tax codes and modernizes compliance. An online tool helps compare old and new provisions. The Income Tax Department aims for a clearer, more accessible tax system.
from Tax-Wealth-Economic Times https://ift.tt/DBs1wri
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