New Income Tax Act, 2025 – Key Features and Comparison with the 1961 Act
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After more than six decades, India’s taxation framework is undergoing a landmark transformation. The Income Tax Act, 1961, which has been the backbone of direct taxation since the post-independence era, is set to be replaced by the Income Tax Act, 2025. This reform aims to modernise tax administration, simplify compliance, and align the law with present-day economic realities. While the new legislation retains the fundamental principles of income taxation, it introduces a more concise, technology-driven, and user-friendly framework. This article presents an overview of the silent features of the new Act, along with a brief comparison to the old regime…. Continue reading
