The Income Tax Act, 2025: A Bold Yet Challenging New Era for Direct Taxation in India
India’s taxation landscape is undergoing a transformative shift with the Income Tax Act, 2025, which replaces the six-decade-old Income Tax Act, 1961. Passed by the Indian Parliament and receiving presidential assent on August 21, 2025, this landmark legislation is set to take effect from April 1, 2026. The new Act aims to simplify tax laws, … Read more