Tag: New Income Tax Act

I-T dept releases draft rules, forms for new Income Tax Act; seeks public inputs

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I-T dept releases draft rules, forms for new Income Tax Act; seeks public inputs

With regard to the new income tax forms, it said that they have been simplified to a large extent for the ease of the taxpayers. Representative Image | Photo Credit: Getty Images/iStockphoto The tax department on Saturday (February 7, 2026) released draft rules and forms under the new Income Tax Act, 2025, which proposes to…

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New Income Tax Act will come into effect on April 1, 2026: FM Sitharaman

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New Income Tax Act will come into effect on April 1, 2026: FM Sitharaman

Image used for representation purpose only. | Photo Credit: Getty Images/iStockphoto During her Union Budget presentation on Sunday (February 1, 2026), Finance Minister Nirmala Sitharaman informed that the new Income Tax, 2025, would come into effect in April this year, with the forms and rules to be notified “shortly” provisioning “adequate time” for taxpayers to acquaint themselves with the requirements.  …

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Amid Chaos, New Income Tax Bill Tabled In Parliament, Sent To Committee

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Amid Chaos, New Income Tax Bill Tabled In Parliament, Sent To Committee

New Delhi: Finance Minister Nirmala Sitharaman tabled the new income tax bill – which she had mentioned in her Budget speech on February 1, and which is expected to reduce the jargon in the Income-Tax Act of 1961, making it easier to understand and implement – in Parliament on Thursday. However, as she rose to…

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