The new law replaces the 1961 Act to address excessive complexity and scattered provisions built over decades. It simplifies language, removes redundancies, and improves structure while keeping tax rates unchanged.
The post The Income Tax Act, 2025: A New Era In Direct Taxation Replacing the Income Tax Act, 1961 with effect from 1st April, 2026 By: S. Prasad, Auditor & Tax Consultants, Mysore appeared first on TaxGuru.
