New Delhi, March 23 (IANS) India is set to roll out the new Income Tax Act, 2025 from April 1, 2026, but taxpayers need not worry about filing this year as returns can be prepared and filed under the existing Income Tax Act, 1961, officials and tax experts said, ensuring a smooth, year‑wise transition.The current law will continue to apply for this filing cycle, they said, adding that the government is adopting a clear, phased approach.Income for FY26 (April 1, 2025–March 31, 2026) will be a…
Latest Tax Forms News & Updates
Mumbai, Feb 9 (IANS) The Income Tax Department’s draft Income‑tax Rules proposed a comprehensive renumbering of tax forms that would improve reporting ease and enhance compliance for taxpayers, professionals and institutions as the Income‑tax Act, 2025 is set to come into force on April 1.The draft rules, released with new form templates, replace legacy form numbers that evolved over decades and will reduce ambiguity and duplication in filings for taxpayers, experts said.It will better int…