New ITR Forms for Income Tax Act, 2025 Notified Before FY28: Govt

• New ITR forms under the Income Tax Act, 2025, will be notified prior to the 2027-28 fiscal year.
• The Income Tax Act, 2025, enacted on August 21, will come into effect from April 1, 2026, replacing the 1961 Act.
• The new Act aims to simplify tax laws and reduce legislative wordage for easier understanding.
• A CBDT committee is consulting tax experts and bodies to simplify ITR forms.
• All Income Tax forms, including TDS and ITRs, are being reworked to be taxpayer-friendly.

Why It Matters: New Income Tax Act, 2025, will change how you file your ITRs.