New Income Tax Law from April 1, 2026: Key Changes Taxpayers Must Know

• India to implement a new income tax law from April 1, 2026, replacing the 1961 Act.
• The Income Tax Act 2025 aims to simplify tax administration, enhance transparency, and integrate technology.
• CBDT Chairman Ravi Agarwal emphasized the need for officials to guide taxpayers effectively through the transition.
• Key changes include updated procedures, new forms, increased digital processes, and a focus on taxpayer assistance.
• Taxpayers should stay updated with official notifications, organize financial records, and seek guidance for compliance.

Why It Matters: A new income tax law takes effect April 1, 2026, simplifying processes and increasing digital integration.