New Income Tax Act 2025: Key Changes for Taxpayers
India's Income Tax Act of 1961 will be replaced by the Income Tax Act, 2025 from April 1, 2026. Learn about the simplified rules, digital processes, and how to prepare for the transition.
Category : Search result: Income Tax Act Section 172
Budget 2026: Old Tax Regime Phase-Out Likely, Say Experts
Finance Minister Nirmala Sitharaman will present Union Budget 2026 on February 1. Tax experts predict a gradual phase-out of the old income tax regime as the new regime gains popularity.
Direct Tax Collections Up 4.1%, Income Tax Growth Slows
India's gross direct tax collections increased 4.1% to Rs 21.5 lakh crore, with sluggish income tax growth offset by stronger corporate tax performance. Net collections rose 8.8% to Rs 18.4 lakh crore.
Direct Tax Collection Grows 8.82% to Rs 18.38 Lakh Crore
India's net direct tax collection rises 8.82% to over Rs 18.38 lakh crore till Jan 11. Refunds drop 17%. Government aims for Rs 25.20 lakh crore target for FY26. Read the full analysis.
Direct Tax Mop-Up Reaches Rs 18.4 Lakh Crore Till Jan 11
India's net direct tax collection surged 9% to Rs 18.4 lakh crore by January 11, 2026, driven by robust corporate and personal income tax inflows. Discover the breakdown and what it means for the economy.
Tech Billionaire Exits California Due to Wealth Tax Act
DoorDash co-founder Andy Fang announces exit from California, citing the state's 2026 Billionaire Tax Act. He joins a growing exodus of tech leaders fearing punitive measures on founder-controlled shares.
Tax on Money from NRI Husband: Clubbing Rules Explained
Wondering about tax on money received from your NRI husband? Expert explains gift tax rules and clubbing of investment income. Read for a clear guide.
Taxpayers Seek Clarity on Old Tax Regime's Future
Millions of Indian taxpayers await government clarity on the continuation of the old income tax regime beyond March 2025. Experts urge proactive communication to aid financial planning. Read more for details.
Startups Seek ESOP Tax Clarity, Boost for Deep Tech & AI
Indian startups urge the government for clear ESOP taxation guidelines and enhanced funding for deep tech & AI in the upcoming budget. Experts highlight current tax hurdles.
Tax Experts Warn Against Higher Surcharge in Budget
Tax experts caution government against raising income tax surcharge or reintroducing wealth tax in Budget 2026-27, warning of capital flight and impact on investment. Read the full analysis.
California's Billionaire Tax Targets 200+ Tycoons
California's proposed Billionaire Tax Act could impose a one-time 5% levy on over 200 ultra-rich residents from Jan 2026. Will it trigger a capital exodus? Read the full list.
New Income Tax Act 2025: Single 'Tax Year' From April 1
The new Simplified Income Tax Act, 2025, comes into force on April 1, 2026, replacing the old assessment year system with a single 'tax year'. Learn how this major tax reform simplifies compliance for Indian taxpayers.
New Income Tax Act 2025 Effective From April 1
The new Income Tax Act 2025 comes into force on April 1, 2025. Understand the key changes in tax slabs, deductions, and compliance for the upcoming financial year.
Income Tax Act 2025 Replaces 1961 Law from April 1
The Income Tax Act, 2025, replaces the 64-year-old law from April 1. It simplifies rules, reduces litigation, and incorporates Budget 2026-27 changes. Read the full explainer.
ITAT denies Flipkart's Binny Bansal non-resident tax claim
The Bengaluru ITAT dismissed Flipkart co-founder Binny Bansal's claim for India-Singapore tax treaty benefits, ruling him a resident for tax purposes. Read the full details of the 189-page order.
Tax Dept Tightens Compliance with 'Nudge' Campaign
India's income tax department launches a 'Nudge' campaign to boost honest reporting as direct tax growth slows to 8%. Learn about the new compliance focus and collection targets.
Chandigarh MC Sends Bulk Notices to Property Tax Defaulters
Chandigarh Municipal Corporation intensifies property tax recovery, targeting residential & commercial defaulters. Officials aim to maximise revenue before fiscal year-end in March.
Gurgaon MCG collects Rs 30 crore tax, seals 55 properties
Gurgaon's MCG accelerates property tax recovery, collecting Rs 30 crore in 1.5 months and sealing 55 properties. The civic body now targets illegal commercial activities in residential areas to boost revenue for city development.
New Income-tax Act 2025 Replaces 1961 Law, Aims to Cut Litigation
India's new Income-tax Act, 2025, replaces the 1961 law with a simplified framework. Experts call for Budget 2026 to ensure smooth transition, rationalize TDS, and boost manufacturing. Read key reforms.
Budget 2025: Experts Urge No Major Tax Law Changes
Ahead of Budget 2025, tax expert Dinesh Kanabar advises against substantive changes to the new Income-tax Act 2025, calling for focus on TDS simplification, R&D incentives, and dispute resolution.
40,000 Prayagraj homes face action for unpaid property tax
Prayagraj Municipal Corporation identifies 40,000 properties with 3-year tax dues. Notices issued; failure to pay may lead to property attachment, water cut. Act now to avoid penalties.
MCG Recovers ₹295 Crore in Property Tax from Defaulters
The Municipal Corporation of Gurugram has successfully recovered ₹295 crore in outstanding property tax from defaulters in 2025 through a special recovery drive. Discover how the civic body is boosting its revenue.
I-T Dept Recovers Rs 84 Lakh TDS from Maharashtra Firm
Income Tax Department's survey uncovers Rs 20 crore interest payment without TDS deduction by a cotton trading company in Chhatrapati Sambhajinagar, leading to recovery of Rs 84 lakh. Learn about TDS compliance.
IRS 2026 Tax Filing Season Begins: New Rules Apply
The IRS has opened the 2026 tax filing season. Learn about key changes from the One, Big, Beautiful Bill, new forms like Schedule 1-A, and tips for filing your 2025 returns before the April 15 deadline.
Outdated Tax Rules Burden India's Home Buyers
Falling interest rates fuel home buying, but outdated tax caps on deductions, deferred relief on pre-construction interest, and lapsed benefits create a financial strain. Experts demand urgent reforms.
145+ Nations Agree on Updated Global Minimum Tax Deal
More than 145 countries have solidified a revised global minimum tax agreement, incorporating US concerns. This landmark deal aims to curb corporate tax avoidance worldwide. Read the full details here.
How to Save Tax on Sale of Residential Property in India
Many Indians are unaware of capital gains tax on property sale. Learn about long-term vs short-term gains, tax rates, and two legal ways to save tax under Sections 54 and 54EC. Expert advice by Balwant Jain.
How AI is Reshaping Tax Scrutiny in India
Indian tax authorities deploy generative AI for faster compliance checks and fraud detection. Discover why human oversight remains crucial in this tech-driven shift.
Save Tax on Gold, Stock Gains with Section 54F
Learn how Section 54F of the Income Tax Act allows Indians to save on long-term capital gains tax by reinvesting in a residential property. Key conditions and timelines explained.
Student loan forgiveness to be taxed from 2026
Millions of US student loan borrowers may face large federal tax bills from 2026 as a key tax exemption expires. Learn about the impact and how to prepare.
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