Summary
- The Income Tax Act, 2025, set to take effect from April 1, 2026, introduces a restructured framework while retaining the core principles of the Income Tax Act, 1961.
- Key provisions related to Salaries, House Property, Business Profits, Capital Gains, and Other Income have been renumbered and reorganized for clarity and accessibility.
- Significant changes include a streamlined numbering system and consolidated business income provisions aimed at reducing interpretational confusion.
- Understanding the mapping of old to new sections will be crucial for taxpayers and professionals as they adapt to the upcoming law in FY 2026-27.
Join the discussion — sign up to comment, upvote, and save articles.