income tax act 2025

The Narendra Modi government’s sweeping tax rewrite has done away with the familiar pair of terms that generations of Indian taxpayers and accountants learned to dread and love in equal measure — Previous Year and Assessment Year — replacing them with a single, unified concept: the Tax Year...

The Indian tax landscape is changing in ways that will matter to nearly every taxpayer and business that files in India: Parliament has enacted a new statutory framework called the Income‑tax Act, 2025, to replace the six‑decade‑old Income‑tax Act, 1961, and the government’s 2025 Budget reworked...