March vs April salary 2026: Which Income Tax law applies to your paycheck this month?

The Income Tax Department has clarified that taxation depends on the date of payment, not when the salary is earned. Salary paid by March 31, 2026, will fall under the Income-tax Act, 1961, while payments from April 1, 2026, will be taxed under the new Income Tax Act, 2025, as TDS applies at the time of payment.

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