The Economic Times

Old vs new income tax rules: Which set of rules will apply when you file your ITR for FY 2025-26?

Taxpayers filing returns in 2026 will use the old Income Tax Act, 1961. The new Income-tax Act, 2025, takes effect from April 1, 2026, for income earned in FY 2026-27. The new law simplifies tax codes and modernizes compliance. An online tool helps compare old and new provisions. The Income Tax Department aims for a clearer, more accessible tax system.