https://www.taxtmi.com/news?id=69393 The Income Tax Act, 2025 takes effect April 1 with rules and redesigned return forms to be notified; it is revenue neutral with no rate changes, halves the text and sections of prior law, adopts a single tax year framework in place of assessment/previous year distinctions, and permits TDS refund claims on late-filed returns without penal charges. en-us Sun, 01 Feb 2026 12:31:04 +0530 Sun, 01 Feb 2026 12:31:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=69393 The Income Tax Act, 2025 takes effect April 1 with rules and redesigned return forms to be notified; it is revenue neutral with no rate changes, halves the text and sections of prior law, adopts a single tax year framework in place of assessment/previous year distinctions, and permits TDS refund claims on late-filed returns without penal charges. News - Sun, 01 Feb 2026 12:31:04 +0530 https://www.taxtmi.com/news?id=69393