Income tax law comes into force from April 1: FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman announced the Income Tax Act, 2025, will be implemented from April 1, 2026, replacing the existing six-decade-old law. This new legislation simplifies tax rules and forms, making compliance easier for ordinary citizens. The revenue-neutral act aims to reduce litigation by simplifying direct tax laws and removing ambiguities.