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Economy News

The Economic Times

Economy / The Economic Times

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Why taxpayers may face 2 laws under New I-T Act 2025

The Income Tax Act, 2025 modernises the law while preserving continuity, ensuring that taxpayers are not forced into uncertainty during transition. Income earned up to financial year 2025- 26, which ends on 31 March, 2026, is governed by the Income Tax Act, 1961; income earned in financial year 2026-27, which starts on 1 April, 2026, comes under the new Act.

30 Mar 2026 6:30 am