https://www.taxtmi.com/article/detailed?id=15651 The Income Tax Act, 2025 abolishes the Assessment Year and adopts a single Tax Year from April 1, 2026, changing the temporal basis for taxation. Enforcement increasingly uses algorithmic cross checks via the Annual Information System, producing automated mismatch notices-notably AI misclassification of unlisted share capital gains as business income due to TDS code confusion-that taxpayers must correct through the portal. The regime shifts from Taxation by Declaration to Taxation by Confirmation, raising compliance priorities around reconciling filings with government data. en-us Wed, 24 Dec 2025 07:52:34 +0530 Wed, 24 Dec 2025 07:52:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=15651 The Income Tax Act, 2025 abolishes the Assessment Year and adopts a single Tax Year from April 1, 2026, changing the temporal basis for taxation. Enforcement increasingly uses algorithmic cross checks via the Annual Information System, producing automated mismatch notices-notably AI misclassification of unlisted share capital gains as business income due to TDS code confusion-that taxpayers must correct through the portal. The regime shifts from Taxation by Declaration to Taxation by Confirmation, raising compliance priorities around reconciling filings with government data. Articles Income Tax Wed, 24 Dec 2025 07:52:34 +0530 https://www.taxtmi.com/article/detailed?id=15651