<h1>New Income Tax Bill Simplifies Rules, Adds Refunds, Keeps Search Powers, Effective April 2026</h1> The legislature passed a new Income Tax Bill replacing the existing 63-year-old law, aiming to simplify tax compliance by reducing sections and word count, and introducing a unified 'tax year' concept. The Bill allows individuals to claim refunds on delayed filings without penalty and reintroduces certain deductions aligned with the prior Act. It also provides for nil tax collection at source on certain educational remittances. However, provisions enabling tax authorities to conduct searches and seize assets, including overriding access codes to digital systems without cooperation, remain largely unchanged, raising privacy concerns. The Bill passed the lower house amid opposition disruptions and now awaits upper house approval and presidential assent before becoming law, expected to take effect from April 1, 2026.