New I-T Act marks new chapter in India's tax administration, step towards Viksit Bharat: CBDT

India has a new Income Tax Act, 2025, effective April 1, 2026. This replaces the old 1961 Act, making tax rules simpler and easier to follow. The e-filing portal will support both old and new acts during the transition. Assessments for past years will follow the old Act. Advance tax payments from June 2026 will use the new Act.

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