New Income Tax Act 2025: Easier Filing, Simplified Sections, and Smart Form 130

• The new Income Tax Act, 2025, replaces the 64-year-old law from April 1st, aiming for a faster and easier tax system.
• The number of sections has been reduced from over 700 to 536, simplifying complex provisions and making rules more accessible.
• The new act uses 'Plain English/Hindi' for better understanding, eliminating confusing legal jargon like 'Notwithstanding' and 'Proviso'.
• The 'Assessment Year' concept is abolished, replaced by a single 'Tax Year' to reduce confusion for taxpayers.
• Form 16 is replaced by 'Smart Form 130', which auto-fills income, TDS, and calculates tax/refund, making self-filing simpler.