India to Launch New Income Tax Act in 2026, Replacing 6-Decade-Old Law

• India will implement the new Income Tax Act 2025 from April 1, 2026, replacing the 1961 law.
• The new legislation aims to modernize tax administration through simplified rules, updated procedures, and expanded technology use.
• It emphasizes clearer language, streamlined compliance, and a stronger digital backbone for assessments and taxpayer communication.
• CBDT Chairman Ravi Agrawal has directed officials to undergo training to guide taxpayers during the transition.
• Taxpayers are advised to stay alert to new filing formats, organize financial records, and seek professional guidance.

Why It Matters: India's new Income Tax Act 2025, effective 2026, modernizes tax administration with technology and simpler rules.