The introduction of the Income-tax Act, 2025 marks a significant shift in India’s tax framework. With a focus on simplification, clarity, and ease of compliance, the new Act aims to make return filing more structured and taxpayer-friendly. As we move towards filing Income Tax Returns (ITR) for Tax Year 2026–27 (income of FY 2026–27), it …
Continue reading “Filing of ITR for Tax Year 2026–27 under the New Income-tax Act, 2025”
The Income-tax Act, 2025 will come into effect from 1st April 2026. Many taxpayers are confused about how this change will impact their pending refunds, excess TDS claims and income tax return filing. The good news is that the government has ensured a smooth transition so that taxpayers do not lose their rights or face …
Introduction With the implementation of the Income-tax Act, 2025 effective from 1st April 2026, one of the most practical and immediate changes for taxpayers and professionals is the restructuring and renumbering of income tax forms. While the core compliance framework remains largely unchanged, the way forms are presented, numbered, and accessed on the e-Filing portal …
Continue reading “Income Tax Forms under Income-tax Act, 2025”
A New Beginning for Taxpayers The start of a new financial year always brings fresh opportunities for tax planning, and FY 2026–27 is even more significant because it marks the implementation of the Income-tax Act, 2025. While the new law does not drastically change tax rates or introduce new taxes, it brings important refinements and …
