31/05/2026
INCOME TAX ACT 2025
IMPORTANT AMENDMENTS EVERY TAXPAYER SHOULD KNOW
📌 Effective from 1 April 2026
✅ KEY HIGHLIGHTS
📍 1. “Assessment Year” replaced with “Tax Year”
Simple & easy — one term for income and filing.
📍 2. Simplified Act Structure
Old law reorganized into fewer chapters with clearer language.
📍 3. Tax Rates Mostly Unchanged
No major slab changes under the Act itself.
📍 4. Clearer Rules for Capital Gains & Business Income
Easy reference for taxpayers & professionals.
📍 5. Digital & Compliance Friendly Format
Better alignment with faceless and online tax administration.
📍 6. Taxpayer-Friendly Language
Reduced legal complexity and easier understanding.
📍 7. Existing Deductions / Exemptions Continue
Most benefits continue under new section numbering.
📍 8. Effective from Tax Year 2026–27
Plan your compliance in advance.
⭐ Stay Updated. Stay Compliant.
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