India's New Income Tax Act from April 1, 2026; Budget 2025 Tax Changes Detailed

While India implemented significant tax regime changes in 2025 under Budget 2025, the comprehensive new Income Tax Act, 2025, which replaces the 1961 Act, is set to take effect from April 1, 2026. The original article's headline regarding the new I-T Act's effective date is misleading.

• New Income Tax Act, 2025, replaces 1961 Act.
• Comprehensive new Act takes effect from April 1, 2026.
• Budget 2025 introduced tax regime changes effective April 1, 2025.
• New tax regime offers up to ₹12 lakh tax-free income.
• GST rates rationalized, customs duty reforms planned.
• Tax simplification and digital enforcement are key objectives.

Read the full story on Quick Digest.